On January 28, 2022, Rosedale Federal Savings and Loan Association, Baltimore, Maryland, entered into a definitive merger agreement to acquire CBM Bancorp, Inc., Baltimore, Maryland, and its wholly owned subsidiary, Chesapeake Bank of Maryland. CBM Bancorp stockholders will receive $17.75 in cash per share of CBM Bancorp common stock. The total merger consideration is valued at approximately $64.4 million.
Rosedale Federal Savings and Loan Association is a mutual savings and loan association with approximately $1.0 billion in assets and ten branch locations in Maryland.
CBM Bancorp, Inc. has approximately $250.1 million in assets and has four banking offices in Maryland.
Luse Gorman is serving as legal counsel to Rosedale Federal Savings and Loan Association in the transaction. The Luse Gorman team consists of Lawrence Spaccasi, Kent Krudys, Thomas Hutton and Gregory Sobczak.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.