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Regulators OK Old Line-Bay Bancorp deal

Old Line Bancshares Inc. and Bay Bancorp Inc. have secured all the requisite regulatory approvals for their merger.

They received approval from the Federal Reserve on March 2, approval from the Federal Deposit Insurance Corp. on March 6 and approval from the Maryland Commissioner on March 9.

Shareholder approvals are still pending.

Bowie, Md.-based Old Line is acquiring Bay Bancorp of Columbia, Md. The stock transaction was valued at approximately $128.6 million when they announced the deal in September 2017.