Bradford Bancorp Completes Acquisition of Valley Bancorp.Assets Reach $500 Million Plus BALTIMORE Baltimore, city (1990 pop. 736,014), N central Md., surrounded by but politically independent of Baltimore co., on the Patapsco River estuary, an arm of Chesapeake Bay; inc. 1745. -- Bradford Bradford, city, England Bradford, city (1991 pop. 293,336) and metropolitan district, N central England, on a small tributary of the Aire River. It is a center of the worsted industry, which dates from the Middle Ages. Bancorp, Inc., parent of Bradford Bank, announced today that it has completed the acquisition of Valley Bancorp, Inc., in a transaction valued at approximately $9.6 million. The transaction increases Bradford Bancorp's assets to approximately $520 million with the additional capital of approximately $50 million, and increases its number of banking offices from six to seven. The new Bradford Bank office is located at 1777 Reisterstown Road at Hook's Lane in Pikesville, Maryland Pikesville is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. Pikesville is just northwest of the Baltimore City limits. It is the northwestern suburb closest to Baltimore. . "We are pleased to welcome our new customers and employees to our growing Bradford family," said Dallas R. Arthur, president of Bradford Bancorp. "We are also pleased to reach a new milestone of $500 million in assets," he continued. Bradford Bancorp and Valley Bancorp announced the filing of a joint application for the acquisition on July 31, 2006, and received regulatory approval on December 22, 2006. In a separate transaction on January 4, 2007, Bradford Bank and Golden Prague Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. announced that they entered into an agreement under which they will merge with and into Bradford Bank. Approval is pending. Bradford Bancorp is the holding company for Bradford Bank and Bradford Title Company, a title agency. Bradford Bank operates seven branches in the greater Baltimore metropolitan area Baltimore-Towson, MD MSA is a U.S. Metropolitan Statistical Area (MSA) as defined by the United States Office of Management and Budget (OMB) as of November 2004. It is located in Maryland and had a population of 2,655,675 as of 2005, making it the 19th most populus MSA in the and has one investment and insurance subsidiary, Bradford Financial Group. |
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