Welcome to our dedicated page for TCFC news (Ticker: TCFC), a resource for investors and traders seeking the latest updates and insights on TCFC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect TCFC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of TCFC's position in the market.
The Community Financial Corporation (NASDAQ: TCFC) reported a net income of $7.3 million, or $1.30 per diluted share for Q1 2023, showing a 16.5% increase from $6.3 million or $1.10 per diluted share in Q1 2022. However, it represents a slight decrease from $7.6 million or $1.35 in Q4 2022. Key metrics include a return on average assets (ROAA) of 1.21% and return on average common equity (ROACE) of 15.10%. The planned merger with Shore Bancshares is progressing, expected to close around July 1, 2023, with shareholders receiving 2.3287 shares of SHBI for each TCFC share. Despite a stable financial performance, challenges included a net interest margin compression to 3.32% due to rising fund costs. Total assets increased by 0.8%, supported by a loan growth of 5.1% annualized, while non-accrual loans increased to $8.1 million.
Shore Bancshares, Inc. (NASDAQ: SHBI) and The Community Financial Corporation (NASDAQ: TCFC) announced regulatory approvals for their merger. This follows their Agreement and Plan of Merger from December 14, 2022. The merger aims to enhance Shore's operations, with approvals from the Office of the Comptroller of the Currency and Maryland's financial regulation authority, and is pending shareholder approval. The merger is expected to close around July 1, 2023. Shore, with assets of approximately $3.5 billion, will incorporate TCFC, which has $2.4 billion in assets, under its banking operations, enhancing market presence in Maryland and Delaware.
The Community Financial Corporation (NASDAQ: TCFC) has declared a quarterly cash dividend of $0.175 per share, scheduled for payment on April 24, 2023, to shareholders of record by April 12, 2023. The company operates through its primary bank, Community Bank of the Chesapeake, located in Waldorf, Maryland, along with multiple branch offices in surrounding areas.
This announcement reflects the company's ongoing commitment to providing returns to its shareholders, though investors should remain aware of potential risks and uncertainties affecting future performance, as outlined in the forward-looking statements section of the release.
The Community Financial Corporation (NASDAQ: TCFC) reported net income of $7.6 million for Q4 2022, equating to $1.35 per diluted share, up from $6.8 million or $1.18 per share in Q4 2021. For the full year, net income reached $28.3 million, or $5.00 per diluted share, a 9.4% increase from 2021. Key highlights include a merger agreement with Shore Bancshares, expected to close in mid-2023, projected to enhance shareholder value with combined assets of $6 billion. The bank's net interest margin improved to 3.64% alongside a solid loan growth of 15.3% year-over-year, though merger-related costs of $1 million impacted earnings.
Shore Bancshares and The Community Financial Corporation have announced a merger valued at approximately $254.4 million. This all-stock transaction will create a bank holding company with around $6 billion in assets and a market cap of about $650 million. The merger is expected to boost Shore's EPS by over 40% by 2024, enhancing shareholder value. Upon completion, the combined entity will operate under the name "Shore United Bank, N.A." and have over 40 branches across Maryland and neighboring states.
The Community Financial Corporation (NASDAQ: TCFC) announced a quarterly cash dividend of $0.175 per share, to be paid on January 24, 2023, for stockholders of record as of January 10, 2023. This dividend declaration is a positive indicator of the company's financial health and commitment to returning value to shareholders. The bank holding company operates the Community Bank of the Chesapeake, serving various locations in Maryland and Virginia.
The Community Financial Corporation (NASDAQ: TCFC) announced a record net income of $7.6 million for Q3 2022, translating to $1.34 per diluted share, up from $6.4 million or $1.12 per share in Q3 2021. Year-to-date income reached $20.7 million, compared to $19.1 million in 2021. The company reported improvements in key profitability metrics: ROAA at 1.31%, ROACE at 15.97%, and a net interest margin increase to 3.47%. Despite a rise in expenses, non-interest-bearing accounts grew significantly, now comprising 30.5% of total deposits.
The Community Financial Corporation (NASDAQ: TCFC) has declared a quarterly cash dividend of $0.175 per share of common stock. This dividend will be issued on or about October 21, 2022, to stockholders of record as of the close of business on October 11, 2022. The Community Financial Corporation is the bank holding company for Community Bank of the Chesapeake, operating in Waldorf, Maryland, and surrounding areas.
FAQ
What is the market cap of TCFC (TCFC)?
