Revere Bank and Monument Bank Conversion Completed

On December 6, Revere Bank announced that it completed its merger with Monument Bank, a Chamber member, on December 5. Attached below is the full press release:

Revere Bank and Monument Bank Conversion Complete

Laurel, Md. (December 6, 2016) – Revere Bank (“Revere”) announced today the completed conversion of its previously announced merger with Monument Bank (“Monument”), effective as of December 5, 2016.

The merger was first announced May 3, 2016 and legally closed on September 30, 2016. Based on financial information as of September 30, 2016, on a pro forma basis, the combined company has approximately $1.8 billion in assets, with ten branches, making Revere the third largest bank headquartered and operating in the State of Maryland.

“It has been an exciting year of growth and positive change for Revere,” said Drew Flott, Revere Bank Co-President and CEO. “We are glad to have both this merger and the merger with BlueRidge Bank completed. We are looking forward to continuing to operate as one of the largest banks headquartered in Maryland.”

“The completion of both mergers in 2016 brings exciting opportunities for the bank and our customers,” added Ken Cook, Revere Bank Co-President and CEO. “Small- to medium-sized businesses are the economic engine of our local economy, and we look forward to helping them continue to grow and become more successful.”

Revere added Monument’s three Montgomery County locations to its existing seven branches. Monument Bank Founder and CEO H.L. Ward joins the executive management team of Revere and its Board of Directors. Kimberly Hoover, Angelo Magafan and James Seale – all of whom are joining Revere from Monument – will also join Revere’s Board of Directors.

Revere Bank was advised by Houlihan Lokey Capital, Inc. as financial advisor, Windels Marx Lane & Mittendorf, LLP as legal counsel and Ambassador Financial Group, Inc. provided the fairness opinion to Revere. Sandler O’Neill + Partners, L.P. served as financial advisor and Luse Gorman, PC served as legal counsel to Monument Bank.

About Revere Bank

Revere Bank is a community bank with more than $1.8 billion in assets. Established in 2007, Revere Bank specializes in serving business clients throughout the I-270 and Baltimore-Washington corridors. Led by a team of experienced bankers with extensive local market knowledge, Revere Bank provides creative financing and unparalleled service to meet each client’s unique needs. Headquartered in Maryland, Revere Bank has locations in Anne Arundel, Baltimore, Frederick, Howard, Montgomery and Prince George’s counties. We do everything we can to say yes to you – because we’re committed to your success. For more information, visit reverebank.com. Connect with us on Facebook, LinkedIn and Twitter.