Community Financial in Waldorf, Md., has agreed to buy County First Bank in La Plata, Md.
The $1.3 billion-asset parent of Community Financial said in a press release Monday that it will pay $34.3 million in cash and stock for the $224 million-asset County First. The deal is expected to close by early next year.
“We have admired County First for quite some time and are excited to now be able to partner with them,” William Pasenelli, Community Financial’s CEO, said in the release.
County First has two branches, $209 million in deposits and $156 million in loans.
Keefe, Bruyette & Woods; RP Financial; and Kilpatrick, Townsend & Stockton advised Community Financial. Boenning & Scattergood and Hunton & Williams advised County First.