After World War II, most working class families in Southern Maryland had a difficult time obtaining credit to buy or build a home. Mr. Leo Middleton, an accountant in Charles County, recognized this need in the community and in October 1950, along with other business leaders, opened Tri-County Building and Loan in Waldorf, Maryland.
In the early days of the bank, all the recordkeeping was done long-hand in ledgers. When customers needed to borrow money or make a payment, they sat down with Mr. Middleton and discussed their needs. He would remove the ledgers from the bottom drawer of his desk and record the banking activity.
Tri-County Building and Loan progressed in its mission and in 1959 the bank converted to a mutual thrift and became FDIC insured. Along with this change in status came a new name: Tri-County Federal Savings & Loan.
In 1961 we opened our first stand alone branch in Leonardtown, with Lexington Park opening 11 years later. The Dunkirk branch opened in 1991 followed by La Plata, Bryans Road, St. Patrick's, Charlotte Hall, Prince Frederick, Lusby and our newest branch in King George, VA.
In 1986, the bank went public and again our name changed; this time to Tri-County Federal Savings Bank. We acquired the name, Community Bank of Tri-County, in March 1997 when the bank converted to a state-chartered Federal Reserve member bank. We acquired our current name, Community Bank of the Chesapeake, in October 2013, to reflect our growth beyond the Tri-County area.
Over the past 60 years, a lot has changed at CBTC. Our name has changed four times and we have opened eleven branches. But many things have remained constant over the years. To be a locally-owned financial institution that is involved in its communities has been a constant business model for the bank. In addition, we have always relied on exceptional customer service to be that which differentiates us from the competition.
While we’ve grown, we have never lost sight of who we are and what we are here to do. We are an independent bank dedicated to serving the needs of Southern Maryland and the Northern Neck region of Virginia, in a manner that always exceeds our communities' expectations.