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This Maryland bank is betting big on the I-270 corridor

When Revere Bank looks toward the future, it sees the I-270 corridor.

Recently, the Laurel-based bank announced it was purchasing Frederick-based Blueridge Bank, acquiring its two branches and its $205 million in assets, $175 million in loans and $181 million in deposits.

The purchase puts Revere Bank over $1 billion in total assets and at seven branches, leaps and bounds from when the bank was founded in 2007.

Revere Bank will also be taking over BlueRidge’s loan operations in Montgomery County as well as its two branches, solidifying its expansion along the I-270 market. J. Brian Gaeng, president and CEO of BlueRidge, will join the executive management team of Revere and its board of directors as part of the deal.

Read full article here Baltimore Business Journal


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