Community Financial (TCFC) in Waldorf, Md., has named William Pasenelli, its president and chief financial officer, as its next chief executive.

Pasenelli will become CEO of the $993 million-asset company and Community Bank of the Chesapeake, on July 1. The company said in a press release Tuesday that Pasenelli will succeed Michael Middleton, who will retire after 35 years at the company's helm.

Middleton will become the company's executive chairman, overseeing customer relations, strategic direction and industry and government relations.

Todd Capitani, the bank's CFO, will take on succeed Pasenelli as the company's CFO.

Community Financial has 10 branches and three loan offices in Maryland and Virginia.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.