WALDORF, Md., Dec. 23, 2020 (GLOBE NEWSWIRE) — The Neighborhood Monetary Company (NASDAQ: TCFC) (the “Firm”), the holding firm for Neighborhood Financial institution of the Chesapeake, (the “Financial institution”) introduced that on December 17, 2020 the Board of Administrators appointed Michael B. Adams, James M. Burke, Gregory C. Cockerham and James F. Di Misa to the Firm’s Board of Administrators, efficient January 1, 2021.
Michael B. Adams is the President of JON Properties, LLC, a full service industrial actual property firm in Fredericksburg, Virginia. JON Properties has received quite a few awards, significantly for its work on Historic Renovation and tax credit score initiatives within the Fredericksburg, Virginia area. Previous to beginning JON Properties, Mr. Adams labored at WEB Gear, Inc., a supplier in tough terrain forklifts. Mr. Adams served as President of WEB Gear, Inc. from 1995 – 2006. Mr. Adams serves, or has served, on quite a few boards of group organizations. These embody the Fredericksburg Rotary Membership, the Cal Ripken, Sr. Basis, the Fredericksburg Space Museum, the Central Virginia Housing Coalition, Loisann’s Hope Home and the Germanna Neighborhood Faculty Training Basis. Mr. Adams can also be a member of the Fredericksburg Builders Affiliation, the Nationwide Affiliation of Residence Builders, the Fredericksburg Realtors Affiliation and the Nationwide Realtors Affiliation. Mr. Adams attended Prince George’s Neighborhood Faculty and the College of Maryland the place he studied Enterprise Administration. Mr. Adams holds a Class A Common Contractors License and is a licensed realtor within the state of Virginia. Mr. Adams will serve on the Board Threat Oversight Committee and Audit Committee of the Firm’s Board of Administrators.
James M. Burke joined the Financial institution in 2005. He serves as Government Vice President of the Firm and as President of the Financial institution. Earlier than his appointment as President of the Financial institution in 2016, he served as Government Vice President and Chief Threat Officer. Earlier than becoming a member of the Financial institution, Mr. Burke was Government Vice President and Senior Mortgage Officer at Mercantile Southern Maryland Financial institution. Mr. Burke has over 20 years of banking expertise. Mr. Burke serves as Chairman of the Board for St. Mary’s Ryken Excessive College and Trustee for Historic Sotterley Plantation. He’s the previous Chairman of the Board of Administrators of College of Maryland Charles Regional Medical Heart and former Board member for the ARC of Southern Maryland. Mr. Burke is a Maryland Banking College graduate and holds a Bachelor of Arts from Excessive Level College. He’s additionally a graduate of the East Carolina Superior College of Business Lending. Mr. Burke has served on the Board of Administrators of the Financial institution since 2016.
Gregory C. Cockerham joined the Financial institution in 1988. Earlier than Mr. Cockerham’s retirement as an worker of the Financial institution on December 31, 2019, he served as Government Vice President and Chief Lending Officer. Earlier than becoming a member of the Financial institution, he was a Vice President at Maryland Nationwide Financial institution. Mr. Cockerham has over 40 years of banking expertise. Mr. Cockerham serves as Emeritus and Previous Chair of the Board of Administrators for the Faculty of Southern Maryland Basis and Finance Chair of the Potomac Baptist Affiliation. He’s Previous Chair of Maryland Title Heart, former President of the Rotary Basis Board of Charles County, and Previous Chair of the Charles County Board of Training CRD Program. Mr. Cockerham is a Maryland Banking College graduate and holds a Bachelor of Science from West Virginia College. Mr. Cockerham has served on the Board of Administrators of the Financial institution since 2016. Mr. Cockerham will serve on the Board Threat Oversight Committee of the Firm’s Board of Administrators. He additionally serves on the Financial institution Board’s Credit score Threat Committee.
James F. Di Misa joined the Financial institution in 2005. Earlier than Mr. Di Misa’s retirement as a Financial institution worker on March 31, 2019, he served as Government Vice President and Chief Working Officer. Earlier than becoming a member of the Financial institution, Mr. Di Misa served as Government Vice President of Mercantile Southern Maryland Financial institution. Mr. Di Misa has over 30 years of banking expertise. Mr. Di Misa served on the Board of Trustees of the Faculty of Southern Maryland. He’s former Chairman of the Board of Trustees for the Maryland Banking College, Previous Chair of the Charles County Rotary Scholarships Program, Previous President of the Charles County Rotary Membership, former Governor Appointment to the Tri-County Work Pressure Funding Board, and Previous President and Founding father of the La Plata Enterprise Affiliation. Mr. Di Misa is a Stonier Graduate College of Banking graduate and holds a Grasp of Enterprise Administration from Mount St. Mary’s Faculty and a Bachelor of Science from George Mason College. Mr. Di Misa has served on the Board of Administrators of the Financial institution since 2016. He’ll serve on the Board Threat Oversight Committee of the Firm’s Board of Administrators. Mr. Di Misa at the moment serves as Chairman of the Financial institution Board’s Credit score Threat Committee.
“We’re happy to have Mr. Adams be a part of the Board of Administrators. Mr. Adams is a well-respected and identified enterprise chief within the Fredericksburg area. Because the Financial institution continues to develop on this market, his enterprise acumen and expertise within the Fredericksburg group will play an necessary function within the Firm’s strategic efforts and growth,” stated Austin J. Slater, Jr., Chairman of the Board of the Firm and the Financial institution.
“Messrs. Burke, Cockerham and Di Misa have lengthy been leaders on the Financial institution and Firm. Every of them have made great contributions to the success of the group. Whereas Mr. Di Misa and Mr. Cockerham have retired as workers from the Financial institution, their continued management and steering by their appointment to the Board of Administrators of the Firm will additional drive the group ahead. Serving as President of Neighborhood Financial institution of the Chesapeake, Mr. Burke’s appointment to the Holding Firm Board is significant in our continued success. We’re honored to have every of those people be a part of the Board,” stated William J. Pasenelli, Chief Government Officer of the Firm and the Financial institution.
About The Neighborhood Monetary Company – Headquartered in Waldorf, MD, The Neighborhood Monetary Company is the financial institution holding firm for Neighborhood Financial institution of the Chesapeake, a full-service industrial financial institution with property of roughly $2.1 billion. By means of its department workplaces and industrial lending facilities, Neighborhood Financial institution of the Chesapeake affords a broad vary of economic services and products to people and companies. The Firm’s banking facilities are situated at its important workplace in Waldorf, Maryland, and department workplaces in Waldorf, Bryans Street, Dunkirk, Leonardtown, La Plata, Charlotte Corridor, Prince Frederick, Lusby and California, Maryland; and downtown Fredericksburg, Virginia. Extra details about Neighborhood Financial institution of the Chesapeake could be discovered at www.cbtc.com.
Ahead-looking Statements – This information launch comprises forward-looking statements inside the which means of the federal securities legal guidelines. Ahead-looking statements can typically be recognized by the truth that they don’t relate strictly to historic or present details. They usually embody phrases like “consider,” “count on,” “anticipate,” “estimate” and “intend” or future or conditional verbs comparable to “will,” “would,” “ought to,” “might” or “might.” Statements on this launch that aren’t strictly historic are forward-looking and are primarily based upon present expectations that will differ materially from precise outcomes. These forward-looking statements embody, with out limitation, these regarding the Firm’s and Neighborhood Financial institution of the Chesapeake’s future progress and administration’s outlook or expectations for income, property, asset high quality, profitability, enterprise prospects, internet curiosity margin, non-interest income, allowance for mortgage losses, the extent of credit score losses from lending, liquidity ranges, capital ranges, or different future monetary or enterprise efficiency methods or expectations, and any statements of the plans and goals of administration for future operations services or products, together with the anticipated advantages from, and/or the execution of integration plans regarding any acquisition now we have endeavor or that we undertake sooner or later; plans and price financial savings relating to department closings or consolidation; any assertion of expectation or perception; projections associated to sure monetary metrics; and any assertion of assumptions underlying the foregoing. These forward-looking statements specific administration’s present expectations or forecasts of future occasions, outcomes and situations, and by their nature are topic to and contain dangers and uncertainties that might trigger precise outcomes to vary materially from these anticipated by the statements made herein. Components that may trigger precise outcomes to vary materially from these made in such statements embody, however are usually not restricted to: dangers, uncertainties and different elements regarding the COVID-19 pandemic (together with the size of time that the pandemic continues, the power of states and native governments to efficiently implement the lifting of restrictions on motion and the potential imposition of additional restrictions on motion and journey sooner or later, the impact of the pandemic on the overall financial system and on the companies of our debtors and their capacity to make funds on their obligations; the remedial actions and stimulus measures adopted by federal, state and native governments, and the lack of workers to work as a consequence of sickness, quarantine, or authorities mandates); the synergies and different anticipated monetary advantages from any acquisition that now we have undertaken or might undertake sooner or later, which will not be realized inside the anticipated time frames; adjustments in The Neighborhood Monetary Company or Neighborhood Financial institution of the Chesapeake’s technique, prices or difficulties associated to integration issues which is likely to be larger than anticipated; availability of and prices related to acquiring satisfactory and well timed sources of liquidity; the power to keep up credit score high quality; common financial tendencies; adjustments in rates of interest; lack of deposits and mortgage demand to different monetary establishments; substantial adjustments in monetary markets; adjustments in actual property worth and the actual property market; regulatory adjustments; the influence of presidency shutdowns or sequestration; the opportunity of unexpected occasions affecting the trade typically; the uncertainties related to newly developed or acquired operations; the end result of pending or threatened litigation, or of issues earlier than regulatory companies, whether or not at the moment current or commencing sooner or later; market disruptions and different results of terrorist actions; and the issues described in “Merchandise 1A Threat Components” within the Firm’s Annual Report on Type 10-Ok for the 12 months Ended December 31, 2019 and its Quarterly Report on Type 10-Q for the Interval Ended September 30, 2020, and in its different Studies filed with the Securities and Change Fee (the “SEC”). The Firm’s forward-looking statements might also be topic to different dangers and uncertainties, together with those who it might talk about elsewhere on this information launch or in its filings with the SEC, accessible on the SEC’s Website at www.sec.gov. The Firm undertakes no obligation to replace these forward-looking statements to mirror occasions or circumstances after the date hereof or to mirror the incidence of unexpected occasions, besides as required beneath the foundations and rules of the SEC.
William J. Pasenelli, Chief Government Officer