Old Line Bank buying MoCo rival for $40.7M

http://baltimorecheckbook.tumblr.com/post/156688798642/old-line-bank-buying-moco-rival-for-407m#_=_

Bowie-based Old Line Bank is buying Damascus Community Bank for $40.7 million in stock, according to an announcement. The deal values Damascus Community Bank at about $25.22 per share. Old Line bank is currently trading at about $27.22 per share. The acquisition is expected to close in the middle of 2017. Old Line Bancshares (NASDAQ: OLBK), the parent company of Old Line Bank, had about $1.7 billion in assets and 21 bank offices as of the end of 2016. DCB Bancshares, Inc., the parent company of…