Shore Bancshares in Easton, Md., has agreed to buy three branches around Baltimore from Northwest Bancshares in Warren, Pa.

The $1.2 billion-asset Shore said in a press release Tuesday that it will also gain $214 million in deposits, $152 million in performing loans and $40 million of cash. Shore said it will pay an 8% premium for the deposits. The deal is expected to close in the second quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.