<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>4
<FILENAME>g00399exv21.txt
<DESCRIPTION>EX-21 SUBSIDIARIES OF THE REGISTRANT
<TEXT>
<PAGE>
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                                   EXHIBIT 21

                         SUBSIDIARIES OF THE REGISTRANT

PARENT

Tri-County Financial Corporation

<TABLE>
<CAPTION>
                                               PERCENTAGE     STATE OF
SUBSIDIARY                                       OWNED      INCORPORATION
---------                                      ----------   -------------
<S>                                            <C>          <C>
Community Bank of Tri-County                      100%         Maryland

Tri-County Capital Trust I                        100%         Delaware

Tri-County Capital Trust II                       100%         Delaware

SUBSIDIARIES OF COMMUNITY BANK OF TRI-COUNTY

Community Mortgage Corporation
  of Tri-County                                   100%         Maryland

Tri-County Investment Corporation                 100%         Delaware
</TABLE>

</TEXT>
</DOCUMENT>