LUTHERVILLE, Md., April 30, 2013 (GLOBE NEWSWIRE) -- After completing its acquisition of Carrollton Bank on April 19th, Bay Bank, FSB expands its slate of directors for the bank and its parent company, Carrollton Bancorp. Three of the directors from the former Carrollton Bank have joined with the six existing Bay Bank directors. The Bank and parent company continue to strengthen the board with local business professionals who understand the Baltimore market and will help position the bank for future success. Joining the board from Carrollton Bank are Robert Aumiller, Steven Breeden and Hal Hackerman.
"We are very pleased to have three of the former Carrollton Bank board members join the new, combined board. They each bring knowledge about the local markets as well as strong business sense to the board. They will also help the bank with their ties into the community and I look forward to working with them," said Kevin G. Byrnes, Chairman of the Bay Bank board.
The Board includes:
- Kevin G. Byrnes, Chairman, Bay Bank – Mr. Byrnes has served in various leadership positions in the banking industry over the last forty years, including President and COO of Provident Bank and CEO of Chase Bank of MD.
- Joseph J. Thomas, Chairman, Carrollton Bancorp and Director, Bay Bank – Managing Director of Hovde Private Equity Advisors LLC, where he is responsible for the day-to-day operations of the fund. Previously Mr. Thomas was Head of Financial Services Investment Banking at Wachovia Corporation.
- Robert J. Aumiller, Director – President of MacKenzie Commercial Real Estate Services, LLC, a commercial real estate brokerage where he has been for over 20 years.
- Steven K. Breeden, Director – Principal at Security Development Corporation, a diversified real estate development company located in Howard County, Maryland.
- Mark M. Caplan, Director – President and CEO of the Time Group, Chairman of WP&M Real Estate Group and founder and President of Madison Capital.
- Harold "Hal" Hackerman, CPA, Director – Director of the Audit, Accounting, and Consulting Department of Ellin & Tucker, Chartered.
- Charles L. Maskell Jr., CPA, Director – Founder and Managing Director of Chesapeake Corporate Advisors, LLC, a corporate advisory and management consultant firm.
- Shaun E. Murphy, Director – Managing Director at Hovde Private Equity Advisors, LLC. He has extensive banking and financial services background with such firms as CapitalSource, PNC Capital Markets, Allfirst Bank, Riggs National Bank and HSBC Bank.
- Kevin Cashen, Director, CEO, President of Bay Bank, FSB and Carrollton Bancorp – Seasoned banker with over 29 years in the banking industry with such firms as Chevy Chase Bank and Signet Bank.
Mr. Cashen commented, "I am also looking forward to working with this group of directors. We have a great balance of both business and banking experience on the board. A community bank needs a board of directors like this to be successful in the market and I believe that this group will make Bay Bank one of the most successful banks in the region."
About Bay Bank/Carrollton Bancorp
Bay Bank, FSB is headquartered in Lutherville, Maryland and is focused on providing superior customer service to the local communities in our market. Bay Bank serves the community with a network of 12 branches strategically located throughout the region. Bay Bank serves local consumers, small and medium size businesses, professionals and other valued customers by offering a broad suite of products and services, including on-line services, commercial banking, cash management, mortgage lending, retail banking and wealth management. A community oriented bank, at March 31, 2013 (pre-merger), it had total assets of $130 million. As of the merger, the combined bank has total assets of approximately $480 million. Carrollton Bancorp is the parent company for Bay Bank, FSB. Carrollton Bancorp's common stock is listed on the NASDAQ Capital Market under the ticker symbol "CRRB". Investor information is available on Bay Bank's website at www.baybankmd.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not represent historical facts, but are statements about management's beliefs, plans and objectives about the future, as well as its assumptions and judgments concerning such beliefs, plans and objectives. These statements are evidenced by terms such as "anticipate," "estimate," "should," "expect," "believe," "intend," and similar expressions. Although these statements reflect management's good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports that Carrollton Bancorp files with the Securities and Exchange Commission entitled "Risk Factors".