Business
BV Financial and MB Bancorp Announce Updated Targeted Closing Date of Pending Merger
BALTIMORE, MD and FOREST HILL, MD / ACCESSWIRE / January 31, 2020 / BV Financial, Inc. (OTC PINK:BVFL), the parent company of BayVanguard Bank, and MB
About this update from Bv Financial, Inc.
[{"type":"text","content":"BALTIMORE, MD and FOREST HILL, MD / ACCESSWIRE / January 31, 2020 / BV Financial, Inc. (OTC PINK:BVFL), the parent company of BayVanguard Bank, and MB Bancorp, Inc. (OTC PINK:MBCQ), the parent company of Madison Bank of Maryland, announced today that the merger between BV Financial and MB Bancorp is expected to close later in the first quarter of 2020. As previously announced, all regulatory approvals relating to the merger of MB Bancorp with and into BV Financial have been received and remain in full force and effect. MB Bancorp shareholders previously approved the merger at a special meeting of shareholders on December 17, 2019.Under the terms of the merger agreement, MB Bancorp shareholders will receive cash of $15.85 for each share of MB Bancorp.The conversion and consolidation of data processing platforms, systems and customer files is expected to occur on or about April 4, 2020.About BV Financial, Inc.BV Financial, Inc. (OTC Pink: BVFL) is the parent company of BayVanguard Bank. BayVanguard Bank is headquartered in Baltimore, Maryland with six other branches in the Baltimore metropolitan area. The Bank is a full-service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses within its market area.About MB Bancorp, Inc.MB Bancorp, Inc. is the parent company of Madison Bank of Maryland. Madison Bank of Maryland is a community-oriented financial institution, dedicated to serving the financial service needs of customers within its market area, which consists of Baltimore and Harford Counties in Maryland. Madison Bank offers a variety of deposit products and provide loans secured by real estate located in its market area. Madison Bank operates out of its main office in Forest Hill, Maryland and has two full-service branch offices located in Aberdeen and Perry Hall, Maryland.FORWARD-LOOKING STATEMENTSThis press release contains \"forward-looking statements\". In general, forward-looking statements usually use words such as \"may,\" \"believe,\" \"expect,\" \"anticipate,\" \"intend,\" \"will,\" \"should,\" \"plan,\" \"estimate,\" \"predict,\" \"continue\" and \"potential\" or the negative of these terms or other comparable terminology, including statements related to the expected timing of the closing of the merger. Forward-looking statements represent management's be...