About the Post

Author Information

Old Line Bank enters Baltimore market with $6.6M deal for Regal

Bowie-based Old Line Bancshares Inc. is entering the Baltimore market by buying Owings Mills-based Regal Bancorp. Inc. in a $6.6 million deal announced Wednesday.

The move is set to give Old Line (NASDAQ: OLBK), the parent company for the 19-branch Old Line Bank, three branches in Baltimore County and Carroll County from Regal Bancorp (PINX:RGBM), the parent of Regal Bank & Trust. It will also boost Old Line’s assets by $133.7 million to more than $1.4 billion, which it says will make it the third-largest independent commercial bank in the state.

Old Line had been rumored to be interested in entering the Baltimore market for some time. Its home area had been the Washington, D.C., suburbs and southern Maryland, including Anne Arundel, Calvert, Charles, Prince George’s and St. Mary’s counties. With Regal, Old Line will add branches in Owings Mills, Hunt Valley and Westminster.

Read full article from Baltimore Business Journal

Advertisements

Tags:

No comments yet.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: