BuckleySandler client Delmarva Bancshares, Inc. announced on Tuesday, March 31, 2015 that it has agreed to acquire Eastern Bancorp, the parent company of Easton Bank & Trust Company, for $8 million in cash. Upon completion of the acquisition Easton Bank & Trust will be merged into 1880
Bank. Delmarva projects that the combined organization will have approximately $350 million in assets.
David Baris and Noel Gruber advised Delmarva Bancshares, Inc. on this acquisition.
“This transaction, when completed, will provide Delmarva Bancshares all the advantages of a larger institution, and will significantly extend its market into contiguous markets,” Noel Gruber, Counsel to BuckleySandler, said.” We are pleased to have represented Delmarva on the transaction.”