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Maryland-based MB Bancorp parts ways with CEO

Forest Hill, Md.-based MB Bancorp Inc. has parted ways with President and CEOJulia Newton, according to a news release.

Effective Sept. 30, Philip Phillips will start serving aspresident and CEO of the company and unit Madison Bank of Maryland. He hadbeen president and CEO of Patapsco Bancorp Inc., until it was acquired by

Phillips will also become a member of the boards of thecompany and the bank on Oct. 25, the effective date of Newton's resignationfrom the boards.