September 9, 2019
On September 5, 2019, BV Financial, Inc., Baltimore, Maryland, the holding company for BayVanguard Bank, and MB Bancorp, Inc., Forest Hill, Maryland, the holding company for Madison Bank of Maryland, announced the signing of a definitive merger agreement, pursuant to which MB Bancorp will merge with and into BV Financial, with BV Financial as the resulting company. MB Bancorp shareholders will receive $15.85 in cash per share of MB Bancorp common stock. The total merger consideration is valued at approximately $31.0 million.
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August 23, 2019
On August 16, 2019, First Mutual Holding Co., a mutual holding company headquartered in Lakewood, Ohio (“First Mutual”), and Blue Grass Federal Savings and Loan Association, a mutual savings association headquartered in Paris, Kentucky (“Blue Grass”), announced the signing of a definitive merger agreement pursuant to which First Mutual will acquire Blue Grass as a separate bank subsidiary.
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August 23, 2019
On August 21, 2019, San Luis Valley Federal Bank, Alamosa, Colorado, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. In connection with the reorganization, the bank formed Colorado Mutual Holding Company, which owns 100% of Colorado Mutual Bancorp.
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August 21, 2019
On August 20, 2019, Community First Bancshares, Inc., Covington, Georgia (“Community First”), the holding company for Newton Federal Bank, and ABB Financial Group, Inc., Atlanta, Georgia (“ABB”), the holding company for Affinity Bank, announced the signing of a definitive merger agreement, pursuant to which ABB will merge with and into Community First, with Community First as the resulting company.
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August 21, 2019
Messrs. Spaccasi, Gorman and Lax presented a variety of subjects at the Crowe, Stifel and Luse Gorman sponsored “Bank Leadership and Profitability Improvement Conference,” held in Miami Beach, Florida. The presentations focused on cannabis bank, cyber security and corporate governance matters and was attended by community banking industry lenders.
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