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Carrollton Bancorp in Lutherville, Md., is changing its name to Bay Bancorp.
October 28 -
The $133 million-asset Jefferson Bancorp said Monday that it had acquired 10 branches from Carrollton that will operate under the Bay Bank name. The company has $480 million in assets and 22 branches around Baltimore.
April 22 -
Bay Bancorp (BYBK) in Lutherville, Md., has hired two executives.
January 7
Kevin Cashen, has resigned as Bay Bancorp's president and chief executive just weeks after the Lutherville, Md., company posted a $942,000 third-quarter loss.
The $480 million-asset company said Cashen's resignation was effective on Dec. 5. Cashen had joined Bay Bancorp in July 2010. Joseph Thomas, Bay Bancorp's chairman and president of H Bancorp, succeeded Cashen.
Bay Bancorp will pay Cashen a severance of $295,000, plus additional considerations for unused vacation days and unpaid base salary through the rest of this year.
Bay Bancorp in May bought $117 million of assets and all the deposits from
Bay Bancorp's quarterly loss was partly a result of $600,000 in additional merger and integration costs associated with the Slavie deal, along with $1.1 million in costs tied to equity awards given to executives and directors.
