Buckley Sandler Provides Legal Support for Delmarva Bancshares, Inc.'s Acquisition of Easton Bancorp, Inc.
Buckley Sandler client Delmarva Bancshares, Inc. announced on Tuesday, March 31, 2015 that it has agreed to acquire Eastern Bancorp, the parent company of Easton Bank & Trust Company, for $8 million in cash. Upon completion of the acquisition Easton Bank & Trust will be merged into 1880 Bank. Delmarva projects that the combined organization will have approximately $350 million in assets.
Noel Gruber advised Delmarva Bancshares, Inc. on this acquisition.
“This transaction, when completed, will provide Delmarva Bancshares all the advantages of a larger institution, and will significantly extend its market into contiguous markets,” Noel Gruber, Counsel to Buckley Sandler, said.” We are pleased to have represented Delmarva on the transaction.”