Middleton named Waldorf bank’s board chairman

Community Bank of the Chesapeake and the Community Financial Corporation, headquartered in Waldorf, has named Michael L. Middleton chairman of the board. Middleton has been the organization’s CEO for over 30 years, shaping and supporting the bank through his leadership, ideas and knowledge, according to a press release. Middleton will continue to be involved in the overall direction and strategic planning of the company.

“On behalf of everyone at Community Bank of the Chesapeake, we are grateful for Mr. Middleton’s decades of leadership and commitment,” said William Pasenelli, the bank’s new CEO. “It has been an honor to work with him over the years and see his dedication push this bank to excel and exceed the expectations we strive for every day. Mr. Middleton’s expansive knowledge and experience will help support the bank as he continues to oversee its strategy and vision.”

Community Bank of the Chesapeake was founded in 1950 by Leo Middleton and a group of community businessmen. Michael Middleton followed in his father’s footsteps, joining Community Bank in 1973 and was promoted to president and CEO in 1979. In 2014, he became executive chairman of the board, where he served until June 30 of this year.

Middleton is involved in many organizations throughout the bank’s communities, including serving on the Advisory Board of the University of Maryland’s Robert H. Smith School of Business Center for Financial Policy and the American Bankers Association Government Relations Council Administrative Committee.