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Community Bank of the Chesapeake terminates Fed membership

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Community Bank of the Chesapeake terminates Fed membership

According to Waldorf, Md.-based Community Financial Corp.'s 10-Q filing, terminatedits membership in the Federal Reserve System by canceling its stock in the FederalReserve Bank of Richmond on April 18. Moving forward, the bank's primary regulatorwill be the FDIC. Community Bank of the Chesapeake is also subject to oversightfrom the Maryland Commissioner of Financial Regulation.