Old Line in Maryland Raises $12 Million

By Chris Cumming September 17, 2013, 9:13 a.m. EDT 1 Min Read

M&A

Old Line in Md. Names COO, Closes WSB Purchase

Old Line Bancshares in Bowie, Md., has appointed Mark Semanie as its chief operating officer to help manage its recent growth.

By Chris Cumming

May 13
M&A

Maryland Bankers Urged to Merge

Maryland bankers should team up and stop selling out to big, out-of-state players, says Old Line Bancshares' James Cornelsen. The choices they face say a lot about the options available to bankers across the country.

By Rachel Witkowski

September 11
Community banking

Old Line Bancshares to Buy WSB Holdings in Maryland Deal

Old Line Bancshares has agreed to buy WSB Holdings in a deal that will combine two banks based in Bowie, Md.

By Paul Davis

September 10

Old Line Bancshares (OLBK) in Bowie, Md., has raised $12 million through a private placement.

The $1.1 billion-asset company announced Monday that it sold more than 925,000 shares at $13 each. The stock was trading at $13.45 Monday morning.

Old Line said it plans to use the proceeds for general corporate purposes. "Our success in raising this capital is a result of our investors' confidence in our ability to grow opportunistically and profitably," James Cornelsen, Old Line's chief executive, said in a press news release.

Earlier this year, Old Line acquire WSB Holdings in Bowie for $49 million. Cornelsen said last year that Maryland banks should seek to merge with each other, rather than sell to out-of-state institutions.

Chris Cumming

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