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The Waldorf parent of Community Bank of Tri-County agreed to a $15.5 million investment for 15,540 shares of preferred stock.

All told, seven Maryland banking companies have participated in the program, selling a total of $324.7 million in stock to the federal government, according to a Treasury update last week. The largest investment went to Provident Bancshares of Baltimore, which sold $151.5 million in stock. Provident last week agreed to be acquired by M&T Bank Corp. of Buffalo, N.Y., for $401 million.

The smallest investment in Maryland, $6.0 million, went to Patapsco Bancorp of Dundalk.

Community Bank of Tri-County plans to use its $15.5 million infusion to boost its lending activities, said Michael L. Middleton, president and chairman.

Preferred stock is typically a higher ranking stock than common stock voting shares, and its terms are negotiated between the corporation and the investor. It usually carries no voting rights but may have priority over common stock in paying dividends and upon liquidation. The Tri-County preferred stock carries a 5 percent annual dividend yield for five years and 9 percent thereafter.

"We look forward to working with the U.S. Department of the Treasury to help stabilize the U.S. economy and to improve the availability of credit to businesses and individuals throughout Southern Maryland," Middleton said in a statement. "Our participation in this program is an example of Community Bank's continued support to our communities. Our participation in the Capital Purchase Program is a testament to our sound banking practices over the past five decades. As a healthy institution, the U.S. Treasury is providing Community Bank of Tri-County with increased opportunities to enhance our already solid capital position and to pursue other growth opportunities in line with our strategic initiatives."

Community Bank of Tri-County has been headquartered in Southern Maryland since 1950 and now has 10 branches and $677.4 million in assets. The company reported a third-quarter profit of $884,169, down from $1.9 million in the prior-year quarter.