LUTHERVILLE, Md., April 22, 2013 (GLOBE NEWSWIRE) -- Bay Bank, FSB announced today that it had completed its acquisition through merger of Carrollton Bank. With the merger, Bay Bank acquired 10 branches from Carrollton Bank that are located across the Baltimore metropolitan area and will be rebranded with the new Bay Bank name. At the same time, Bay Bank's parent company, Jefferson Bancorp, Inc. ("Jefferson"), completed its merger with Carrollton Bancorp, parent company of Carrollton Bank. Prior to completing the merger, Jefferson obtained all required legal and regulatory approvals, and the shareholders of Carrollton Bancorp approved the transaction. The merged holding company will retain the Carrollton Bancorp name and trade on the Nasdaq Capital Market under the ticker symbol "CRRB". As a result of the merger, approximately 84% of the outstanding shares of Carrollton Bancorp will be owned by Financial Services Partners Fund I, LLC ("FSPF").
Bay Bank Finalizes Its Acquisition Of Carrollton Bank
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