June 18, 2020
On June 17, 2020, BV Financial, Inc., Edgemere, Maryland, the holding company for BayVanguard Bank, and Delmarva Bancshares, Inc., Cambridge, Maryland, the holding company for 1880 Bank, entered into a definitive merger agreement, pursuant to which Delmarva Bancshares will merge with and into BV Financial, with BV Financial as the resulting company. Delmarva Bancshares shareholders will receive $8.90 in cash per share of Delmarva Bancshares common and preferred stock. The total merger consideration is valued at approximately $54.0 million.
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June 9, 2020
On June 5, 2020, New Buffalo Savings Bank, New Buffalo, Michigan, and its parent company, New Bancorp, Inc., completed a purchase and assumption transaction with Teachers Credit Union ("TCU"), South Bend, Indiana, in which TCU has acquired substantially all the assets and assumed substantially all the liabilities of New Buffalo and New Bancorp in an all-cash transaction.
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June 5, 2020
On June 1, 2020, Melrose Bancorp, Inc., Melrose, Massachusetts, the holding company for Melrose Bank, successfully completed its merger with Cambridge Financial Group, Inc., Cambridge, Massachusetts, the holding company for Cambridge Savings Bank. With approximately $340 million in assets, Melrose Bank operated as a full-service community bank with its office located in Melrose, Massachusetts.
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May 21, 2020
On April 17, 2020, Citizens Financial Services, Inc., Mansfield, Pennsylvania ("Citizens"), the holding company for First Citizens Community Bank, successfully completed its acquisition of MidCoast Community Bancorp, Inc., Wilmington, Delaware ("MidCoast"), the holding company for MidCoast Community Bank.
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May 18, 2020
On May 1, 2020, PB Bancorp, Inc., Putnam, Connecticut, the holding company for Putnam Bank, successfully completed its merger with Centreville Bank, West Warwick, Rhode Island. With $529.5 million in assets, PB Bancorp, Inc. operated eight full-service offices and one loan center in Connecticut.
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