M&A Deal Summary

Old Line Bancshares Acquires Bay Bank

On April 13, 2018, Old Line Bancshares acquired financial services company Bay Bank from Hovde Private Equity Advisors

Acquisition Highlights
  • This is Old Line Bancshares’ 3rd transaction in the Financial Services sector.
  • This is Old Line Bancshares’ 3rd transaction in the United States.
  • This is Old Line Bancshares’ 3rd transaction in Maryland.

M&A Deal Summary
Date 2018-04-13
Target Bay Bank
Sector Financial Services
Buyer(s) Old Line Bancshares
Sellers(s) Hovde Private Equity Advisors
Deal Type Merger

Target

Bay Bank

Lutherville, Maryland, United States
Bay Bank was placed into receivership by the FDIC and purchased through a Purchase & Assumption transaction. Bay Bank will primarily pursue organic growth in the Baltimore/Washington market with an expanding banking officer team and, over time, evaluate additional failed bank acquisitions as well as in-market consolidation opportunities. Bay Bank was founded in 2010 and is based in Lutherville, Maryland.

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Buyer(S) 1

Buyer

Old Line Bancshares

Bowie, Maryland, United States
Category Company
Founded 1989
Sector Financial Services
Employees348
Revenue 111M USD (2018)
DESCRIPTION

Old Line Bancshares, Inc. is a parent company of Old Line a Maryland chartered commercial bank that provides financial services. Old Line Bancshares was founded in 1989 and is based in Bowie, Maryland.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 3 of 3
Type (Merger) 1 of 1
State (Maryland) 3 of 3
Country (United States) 3 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 DCB Bancshares

Damascus, Maryland, United States

DCB Bancshares, Inc. is the parent company of Damascus Community Bank, a Maryland chartered commercial bank with commercial banking powers headquartered in Damascus, Maryland. Damascus Community Bank has six banking locations located in its primary market areas of Montgomery, Frederick and Carroll Counties. DCB Bancshares, Inc. was formed in 1988.

Buy $41M

Seller(S) 1

SELLER

Hovde Private Equity Advisors

Washington, District of Columbia, United States

Investor

Category Private Equity Firm
Founded 1994
Size Small
Type Sector Focused
DESCRIPTION

Hovde Private Equity Advisors is the private equity investment arm of financial services firm, The Hovde Organization. Hovde Private Equity was created to invest in financial services companies, including banks, non-depository institutions, and other financial service providers. Hovde targets US based opportunities. Hovde Private Equity was formed in 1994 and is based in Chicago, Illinois.

DEAL STATS #
Overall 10 of 10
Sector (Financial Services) 10 of 10
Type (Merger) 2 of 2
State (Maryland) 2 of 2
Country (United States) 10 of 10
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 FirstAtlantic Bank

Jacksonville, Florida, United States

FirstAtlantic Bank has over $300 million in assets. Management of FirstAtlantic plans to grow over $1 billion in assets through bank acquisitions and enhanced organic growth. FirstAtlantic Bank is based in Jacksonville, Florida.

Sell -
Mergr

Product

Company

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