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Howard Bancorp to buy Adberdeen Maryland branch from Cecil Bank

Howard Bancorp (HBMD) and Cecil Bancorp jointly announced that their respective banking subsidiaries, Howard Bank and Cecil Bank, have entered into a purchase and assumption agreement for Howard Bank to purchase the Cecil Bank branch located at 3 West Bel Air Ave., Aberdeen, MD. Pursuant to the agreement, Howard Bank will acquire a minimum of $38M in loans and $37.9M in deposits from Cecil Bank.