BV Financial Inc. has agreed to purchase MB Bancorp. Inc. for $31 million in an all-cash deal as the consolidation of community banks in Greater Baltimore continues.
Shareholders of MB Bancorp., the parent of Madison Bank of Maryland, will receive cash of $15.85 per share from BV Financial, the parent of BayVanGuard Bank. The deal has been approved by the boards of both companies and is expected to close in the first quarter of 2020.
For BayVanGuard Bank, it will be the company's second acquisition…
