The Community Financial Corporation (TCFC): history, ownership, mission, how it works & makes money

A Brief History of The Community Financial Corporation (TCFC)

Founding and Early Years

The Community Financial Corporation (TCFC) was established in 1999. Initially, the company operated primarily in the Maryland region, focusing on providing financial services to local communities. TCFC was founded by a group of local business leaders determined to create a financial institution that catered to the unique needs of their community.

Growth and Expansion

From its inception, TCFC experienced steady growth. By 2005, the organization had assets totaling approximately $150 million and expanded its services to include residential and commercial lending. By 2010, TCFC had increased its asset base to about $300 million.

Financial Performance Data

Acquisitions and Partnerships

In 2018, TCFC expanded its footprint through strategic acquisitions, including the purchase of a smaller regional bank, adding over $100 million in assets. The acquisition allowed TCFC to enhance its service offerings and broaden its customer base significantly.

Current Operations and Services

As of 2023, TCFC operates multiple branches throughout Maryland and Virginia, offering a variety of services, including personal banking, business banking, loans, mortgages, and investment services. The organization has over 200 employees, dedicated to serving the financial needs of the community.

Community Engagement

TCFC remains committed to community engagement, investing over $1 million annually in community development projects and charitable contributions. The company supports local schools, nonprofits, and economic development initiatives.

Recent Financial Developments

In its latest fiscal year, TCFC reported a net income of $10 million, with total assets reaching $750 million. The bank continues to show resilience in the face of economic challenges, maintaining a strong return on assets ratio.

Future Outlook

Looking ahead, TCFC aims to expand its offerings in digital banking, responding to changing consumer preferences. The corporation is also exploring potential partnerships to enhance its technological capabilities, ensuring it stays competitive in a rapidly evolving financial landscape.

A Who Owns The Community Financial Corporation (TCFC)

Ownership Structure

The Community Financial Corporation (TCFC), which operates as The Community Bank of the Chesapeake, has a diverse ownership structure. As of the latest available data, TCFC is a publicly traded company, with shares listed on the NASDAQ under the ticker symbol "TCFC."

Major Shareholders

Below is a table detailing the major shareholders of TCFC:

Executive and Board Member Ownership

The executive team and board members hold a significant portion of TCFC shares. Below is a table detailing their ownership:

Market Capitalization

As of the end of October 2023, the market capitalization of The Community Financial Corporation (TCFC) was approximately $125 million

Stock Performance

TCFC’s stock performance over the past year has been robust, with the following key statistics:

Financial Overview

In the most recent fiscal year ending 2023, The Community Financial Corporation reported:

Conclusion on Ownership and Corporate Structure

The ownership of TCFC is characterized by institutional and insider stakeholders, reflecting a mix of institutional investment and management involvement. The financial metrics showcase a solid standing in the banking sector, underscoring its ownership dynamics and market performance.

The Community Financial Corporation (TCFC) Mission Statement

Mission Statement Overview

The Community Financial Corporation (TCFC) is dedicated to fostering financial growth and empowerment in the communities it serves. The core of its mission is to provide personalized banking solutions that cater to the unique needs of individual and business clients.

Core Values

• Integrity: We uphold the highest standards of honesty and ethical behavior.
• Community Engagement: We invest in and support initiatives that benefit our local communities.
• Customer Focus: We prioritize our clients’ needs and work tirelessly to exceed their expectations.
• Innovation: We continuously seek to enhance our services and adopt new technologies.

Target Audience

TCFC focuses on a diverse demographic, including:

• Individual Customers: Residents seeking personal banking solutions.
• Small Businesses: Entrepreneurs requiring loans and financial guidance.
• Nonprofits: Organizations aiming for sustainable financial practices.

Financial Performance

As of Q3 2023, TCFC reported the following financial metrics:

Community Initiatives

TCFC actively engages in various community programs, including:

• Financial Literacy Workshops: 50+ sessions conducted annually.
• Community Grants: Approximately $500,000 allocated in 2023.
• Local Sponsorships: Over 20 local events supported in the past year.

Customer Satisfaction

According to the latest surveys, TCFC's customer satisfaction metrics are as follows:

Future Goals

TCFC has set ambitious goals to further its mission, including:

• Increase Market Share: Aim for a 15% growth by 2025.
• Expand Digital Services: Launch new mobile banking features by mid-2024.
• Enhance Community Programs: Double grant funding by 2026.

How The Community Financial Corporation (TCFC) Works

Overview

The Community Financial Corporation (TCFC) is a financial institution that primarily focuses on community banking. It provides a range of services including personal banking, business banking, and investment services. As of 2023, TCFC reported total assets of approximately $1.1 billion.

Financial Performance

For the year ended December 31, 2022, TCFC reported the following financial metrics:

Services Offered

• Personal Banking: Savings accounts, checking accounts, mortgages, and personal loans.
• Business Banking: Business loans, lines of credit, and merchant services.
• Investment Services: Retirement accounts, wealth management, and financial planning.

Community Involvement

TCFC is committed to community development through various initiatives:

• Community Investments: Over $5 million allocated to local projects and initiatives in 2022.
• Volunteer Hours: Employees contributed more than 1,000 hours to community service events.
• Local Sponsorships: Sponsored over 30 local events in the past year.

Regulatory Compliance

As a financial institution, TCFC adheres to regulations set forth by the following organizations:

• Federal Deposit Insurance Corporation (FDIC)
• Consumer Financial Protection Bureau (CFPB)
• Office of the Comptroller of the Currency (OCC)

Technological Advancements

In 2023, TCFC has invested significantly in digital banking technologies:

Market Position

TCFC holds a strong position in the local market with the following metrics:

• Market Share: 15% in the local banking sector.
• Customer Base: Over 50,000 active accounts as of 2023.
• Branches: 10 branches located strategically within the region.

Future Outlook

Projected growth metrics for TCFC moving forward include:

How The Community Financial Corporation (TCFC) Makes Money

Revenue Streams

The Community Financial Corporation (TCFC) generates income from several primary sources:

• Interest Income: Primarily from loans, including residential and commercial mortgages.
• Non-Interest Income: Fees from services, including account fees, transaction fees, and wealth management services.
• Investment Income: Earnings from securities and other financial instruments.

Interest Income Details

In 2022, TCFC reported an interest income of approximately $22.5 million, with the breakdown as follows:

Non-Interest Income Sources

In 2022, TCFC’s non-interest income was approximately $6.2 million, derived from various services:

Operating Expenses

For the fiscal year 2022, TCFC reported operating expenses totaling $18.4 million:

Profitability Metrics

TCFC has maintained a healthy profitability level as demonstrated by the following metrics for 2022:

• Net Income: Approximately $10.3 million
• Return on Assets (ROA): 1.2%
• Return on Equity (ROE): 9.5%

Asset Management

As of December 31, 2022, TCFC's total assets amounted to approximately $1.3 billion, distributed as follows:

Market Position and Growth

TCFC’s market presence continues to grow, reflected in its year-over-year loan growth rate of 7.5% in 2022. The company has expanded its footprint by opening two new branches and enhancing its digital banking services.