Community banking

In Brief: Another Buyout Deal for Bradford of Md.

Published January 30, 2007, 2:00 a.m. EST

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Updated January 29, 2007, 7:23 p.m. EST

1 Min Read

Bradford Bancorp in Baltimore is continuing its buying spree with a deal for Senator Bank, a $19 million-asset mutual thrift in Cockeysville, Md. Because it would be a merger of mutuals, no cash would change hands.

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This is the third small deal Bradford has announced or completed in January. It closed a $9.6 million deal for the $50 million-asset Valley Bancorp in Hunt Valley, Md., announced July 31, and said it had agreed to buy Golden Prague Federal Savings and Loan, a $29 million-asset mutual thrift in Baltimore.

The Golden Prague and Senator deals are expected to close next quarter. When they are completed Bradford would have assets of about $560 million.

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