Tri-County Financial Corp. in Waldorf, Md., will change its name to Community Financial Corp.
The $966 million-asset company's banking unit, Community Bank of Tri-County, will become Community Bank of the Chesapeake, it announced Friday. The new name will become effective Oct. 18, and the company expects to finish changing the signs on its branches by the end of the year.
The new name is intended to reflect the bank's expansion into the Northern Neck region of Virginia. Last May, it opened its 11th branch, the first outside Maryland, in King George, Va.
"We knew when we opened our branch in King George that we were going to need to update the geographic reference in our name to encompass our entire footprint," Michael Middleton, the bank's chief executive, said in a news release. "It is a lengthy process and we are excited to announce the new name."