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News Breaks
July 21, 2014
18:52 EDTOLBKOld Line Bancshares reports Q2 EPS 16c, consensus 25c
The net interest margin was 4.28% for the quarters ending both June 30, 2014 and 2013, compared to 4.29% for the quarter ended March 31. Total assets at June 30 increased by $26M from December 31, 2013.
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September 26, 2014
16:04 EDTOLBKOld Line Bancshares announces plans for branch consolidation
Old Line Bancshares, the parent company of Old Line Bank, announced plans of the Bank to realign branch offices within its footprint, which includes the closing and consolidation of four branches. The branches to be closed are Crofton Centre, Lexington Park, Solomons and Waldorf Charles County Plaza. All of these branches have existing Old Line Bank branches within close proximity. The closing of the branches, which is scheduled for December 2014, will result in an estimated pre-tax cost savings of approximately $1.6M in 2015. One-time charges related to the branch consolidation are estimated to be up to $1.2M and will be recognized upon closing of the branches. The planned closings and consolidations are a result of an evaluation that measured near-term growth potential in the current locations as well as the Bank's ability to continue to service clients' needs at nearby locations.

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