Community Heritage Financial, Inc. Announces Public Offering of Common Stock Under Regulation A+

MIDDLETOWN, Md., Sept. 12, 2022 /PRNewswire/ -- Community Heritage Financial, Inc. (the "Company") (OTC PK: CMHF), the parent company of Middletown Valley Bank (the "Bank"), today announced the launch of a public offering of 1,500,000 shares of common stock under Regulation A, Tier 2.  The public offering price is expected to be between $21.00 and $23.00 per share.

The Company is offering the shares of common stock through an underwriter, Piper Sandler & Co.  The underwriter will have a 30-day option to purchase up to 225,000 additional shares of common stock.

The Company intends to use the proceeds of the offering (substantially all of which the Company intends to contribute to the capital of the Bank) to increase lending and investment activities and to expand client relationships through the ability to make additional loans with a larger legal lending limit.  The Company may also use a portion of the proceeds to fund potential acquisition opportunities, and for working capital and other general corporate purposes. The Company does not have any current plans, arrangements, or understandings relating to any specific acquisitions.

The shares of common stock will be issued pursuant to an offering statement on Form 1-A (File No. 024-11920) filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), which was qualified by the SEC on September 9, 2022, and only by means of an offering circular.  A preliminary offering circular related to the offering has been filed with the SEC.  Prospective investors should read the preliminary offering circular, and the final offering circular, when available, and other documents the Company has filed with the SEC for more complete information about the Company and the offering.  Copies of these documents are available for free by visiting EDGAR on the SEC website at www.sec.gov or may be obtained from the Piper Sandler Equity Capital Markets department at 800-747-3924. 

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities, nor shall there be any offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Community Heritage Financial, Inc.

Community Heritage Financial, Inc. is the parent company of Middletown Valley Bank.  Middletown Valley Bank provides personal and business banking services, as well as mortgage lending services through its wholly owned subsidiary, Millennium Financial Services, Inc. (Mlend).  Originating in Middletown, Maryland in 1908, today the Bank operates offices in the Maryland counties of Frederick, Washington, Garrett and Anne Arundel, and Franklin County, Pennsylvania. For more information, visit www.communityheritageinc.com or www.mvbbank.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws.  Forward-looking statements can generally be identified by the use of forward- looking terminology such as "believes," "expects," "intends," "may," "will," "should," "anticipates" or similar terminology.  Such statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.  Potential risks and uncertainties include, but are not limited to, changes in interest rates, stock market liquidity, deposit flows, loan demand and real estate values, as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect the Company specifically, its existing and target market areas or the banking industry in general.  The realization or occurrence of these risks or uncertainties could cause actual results to differ materially from those addressed in the forward-looking statements.  The statements in this press release are made as of the date of this release.  The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as required by law.

Investor Relations Contact:

Community Heritage Financial, Inc.
Robert E. (BJ) Goetz, Jr.
President & Chief Executive Officer
301-371-3055

SOURCE Community Heritage Financial, Inc.