Old Line Bancshares Inc. plans to acquire Bay Bancorp Inc. in a $128.6 million deal, creating a bank with assets of almost $3 billion. Bowie-based Old Line Bancshares will issue new shares of common stock to pay for the acquisition. The deal is expected to close in the second quarter of 2018. After the acquisition, Old Line Banchsares’s subsidiary, Old Line Bank, will have 39 branches. Columbia-based Bay Bank, the subsidiary of Bay Bancorp, currently has 11 branches and Old Line Bank has 28. Bay…
from https://www.bizjournals.com/baltimore/news/2017/09/27/old-bancshares-to-acquire-bay-bank-for-128-6.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/165809364962
No comments:
Post a Comment