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Shore United bulking up in Maryland with deal to merge with Community Bank of the Chesapeake

December 22, 2022

Shore United Bank will expand its footprint in Maryland and Virginia with a $254 million deal to merge with a Southern Maryland-based bank. Easton-based Shore Bancshares Inc. (NASDAQ: SHBI), the fourth largest bank in headquartered in Maryland, is combining with the Community Financial Corp. (NASDAQ:TCFC), the parent company of Waldorf-based Community Bank of the Chesapeake, in a merger of equals. The all-stock deal, which still needs regulatory and shareholder approval, would make the combined bank the 11th largest operating in Maryland with$4.8 billion in combined deposits and $6 billion in assets.

Article Source: Washington Business Journal

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