BV Financial to expand in northeast Maryland with acquisition
BV Financial in Baltimore has agreed to buy MB Bancorp in Forest Hill, Md.
The $300 million-asset BV Financial said in a Thursday press release that it will pay $31 million in cash for the $147 million-asset MB Bancorp. The deal is expected to close in the first quarter.
BV Financial said the deal should be accretive to its 2020 earnings per share.
“MB Bancorp provides us entry into the highly attractive Harford County market and brings an attractive customer base,” Tim Prindle, BV Financial's co-president and CEO, said in the release.
BV Financial said it has no plans to change the management or board of BV Financial or its bank.
Luse Gorman advised BV Financial. Banks Street Partners and and Kilpatrick Townsend & Stockton advised MB Bancorp.