Rosedale Federal Acquires CBM Bancorp (Chesapeake Bank of Maryland)
July 7, 2022
Rosedale Federal Savings & Loan Association completed its acquisition of CBM Bancorp, Inc. (Chesapeake Bank of Maryland) effective July 7, 2022, paying $17.75 per share in cash for aggregate consideration of about $64.4 million. The merger increases Rosedale Federal’s assets to roughly $1.3 billion, expands its footprint in Maryland, and will complete systems integration by August 29, 2022.
- Buyers
- Rosedale Federal Savings & Loan Association
- Targets
- CBM Bancorp, Inc. (Chesapeake Bank of Maryland)
- Sellers
- CBM Bancorp stockholders
- Industry
- Financial Services
- Location
- Maryland, United States
- Transaction Type
- Buyout
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