WALDORF, Md., July 24, 2014 /PRNewswire/ -- Community Bank of the Chesapeake is proud to announce the appointment of William Pasenelli as Chief Executive Officer. Mr. Pasenelli assumes this role as Michael Middleton, Community Bank's CEO since 1979, transitions to the position of Executive Chairman of the Board.  As President and CEO, Mr. Pasenelli intends to continue to focus on providing exceptional customer service and contributing to local communities.  Before joining Community Bank, Mr. Pasenelli served as Chief Financial Officer of Acacia Federal Savings Bank in Annandale, Virginia.  Mr. Pasenelli joined Community Bank in 2000 as Chief Financial Officer, and became President of the Bank and The Community Financial Corporation in 2010.

"I'm very excited about the direction Community Bank is going.  Mike Middleton was a wonderful leader of the bank and I will do everything in my power to keep our customers and the community our top priority while we continue to grow," said Mr. Pasenelli.

"Since joining the bank, Bill has been an essential part of our management team," said Michael Middleton, Executive Chairman of the Board. "He has proven his leadership skills and extensive knowledge of the financial industry time and time again. I am confident that in his capable hands, Community Bank of the Chesapeake will continue to flourish and expand for many years to come."

In addition to graduating magna cum laude from Duke University with a Bachelor of Arts degree in Management Science, William Pasenelli is also a graduate of the National School of Banking. 

Headquartered in Waldorf, Maryland, Community Bank of the Chesapeake is a full-service commercial bank, with assets over $1 billion. Through its 12 banking centers and three dedicated commercial lending centers, Community Bank of the Chesapeake offers a broad range of financial products and services to individuals and businesses.  Community Bank of the Chesapeake is a wholly owned subsidiary of The Community Financial Corporation (NASDAQ: TCFC). More information about Community Bank of the Chesapeake can be found at www.cbtc.com.

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SOURCE Community Bank of the Chesapeake