BuckleySandler client Delmarva Bancshares, Inc., the parent company of 1880 Bank, announced on July 15, 2015 the completion of its acquisition of Easton Bancorp and its subsidiary, Easton Bank & Trust Company, through the merger of Easton Bank with and into 1880 Bank.
As a result of the merger, 1880 Bank — with approximately $330 million in assets, $225 million in loans and $280 million in deposits – became the sixth largest community bank on the Delmarva Peninsula. 1880 Bank now has six full service banking offices in Talbot and Dorchester counties focused on building long-term relationships with businesses, professionals and individuals.
BuckleySandler attorneys David Baris and Noel Gruber advised Delmarva throughout the months-long merger and acquisition project, which included Delmarva’s $14 million capital raise that was used to support the purchase of Easton.
“We are enormously pleased with the success of this acquisition and look forward to continuing to assist Delmarva as they serve their growing client base throughout the Delmarva Peninsula,” said partner David Baris.