A.M. Best Places Ratings of Old Line Bank and Old Line Bancshares, Inc. Under Review

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has placed under review with negative implications the financial strength rating of “a-” and the issuer credit ratings (ICR) of “a-” and “bbb+” of Old Line Bank and Old Line Bancshares, Inc. (both domiciled in Bowie, MD), respectively.

The rating actions are due to an announcement of the execution of a definitive merger agreement that provides for the acquisition of Maryland Bankcorp, Inc., by Old Line Bancshares Inc. The ratings will remain under review pending receipt of further information pertaining to the transaction and the completion of A.M. Best’s analytical process.

Old Line Bank and Old Line Bancshares, Inc. are members of a community banking organization based in Bowie, MD.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized includes: “Rating Methodology for Banks.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.