Investment Banking - Middletown Valley Bank

Transactions | Banking

Client: Middletown Valley Bank
Industry: Banking
Transaction Type: Common Stock Offering
Role: Sole Placement Agent

  • Middletown Valley Bank (“MVB” or the “Bank”) is a commercial and retail bank with total assets of $324.7 million at September 30, 2017. They are a 100-year old Maryland state charted bank that offers commercial and retail banking services primarily to businesses and consumers in the counties of Frederick and Washington, Maryland. In 2012, the Bank embarked on a strategic plan, led by a new President and CEO, to transform the Bank into a growth oriented, dynamic institution.
  • In aggregate, the offering provides approximately $14 million in gross proceeds.
  • The net proceeds from the transaction are being used to increase its lending and investment activities, and to expand its client relationships through the ability to make additional loans and to open up a larger legal lending limit per customer. Also, it will allow MVB the opportunity to explore potential acquisitions, as well as give access to more working capital for other general corporate purposes.
  • Boenning served as the sole placement agent for Middletown Valley Bank.