Community Bank of the Chesapeake in Waldorf, Md., plans to continue its expansion into Virginia by opening two branches in Fredericksburg over the next 18 months.
The $1 billion-asset bank signed a lease to open a full-service bank branch in Fredericksburg this July. The bank has had a commercial loan office in the area for a year and will relocate it to the new branch.
The bank also has a parcel of land in downtown Fredericksburg under contract. Construction is set to start there soon on its second Fredericksburg branch, which it plans to open by summer 2015 pending regulatory and other approvals.
Community Bank of the Chesapeake, a wholly-owned subsidiary of The Community Financial Corporation (TCFC), currently has 11 branches serving communities from southern Maryland into northern Virginia. In May the bank opened a branch in King George, Va., which represented the first location outside of Maryland.