EXHIBIT 21 SUBSIDIARIES OF THE REGISTRANT Parent - ------ Tri-County Financial Corporation Percentage State of Subsidiaries (1) Owned Incorporation - ---------------- ----------- ------------- Tri-County Federal Savings Bank of 100% United States of Waldorf Tri-County Federal Finance I(2) 100% Maryland - -------------------- (1) The operations of the subsidiary are included in the consolidated financial statements contained in the annual report to stockholders attached hereto as an exhibit. (2) Wholly-owned subsidiary of Tri-County Federal Savings Bank of Waldorf.