Demar Bancorp holding company to change name to Partners; bank brands remain in place

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Delmar Bancorp the parent company of The Bank of Delmarva Seaford and Virginia Partners Bank, Fredericksburg announced that its board approved changing the company’s name to Partners Bancorp. The Company’s stock trading symbol will change to “PTRS” effective August 19, 2020.

The Company’s common stock will continue to be listed on NASDAQ.

The names of bank branches will not change.

In announcing the name change, Lloyd B. Harrison, III, CEO, said, “As previously disclosed, effective after the close of business on November 15, 2019, the company and Partners completed their share exchange, pursuant to which Partners became a wholly owned subsidiary of the company. Delmarva and Partners are now separately chartered affiliate banks, both owned by the company, thus the beginning of the “Partners Family of Banks.” Part of our business model is to acquire other community banks in the mid-Atlantic region. Consistent with our model, they will keep their names, charters, and management in order to deliver the best of community banking, while benefiting from the strength of a larger, multi-bank holding company. Renaming the company to Partners Bancorp describes our shared culture and our strategic model best.”

The Bank of Delmarva commenced operations in 1896. The Bank of Delmarva’s main office is in Seaford and conducts full-service commercial banking through eleven branch locations in Maryland and Delaware, and three branches, operating under the name Liberty Bell Bank, in the South Jersey/Philadelphia metro market.

Virginia Partners Bank was founded in 2008 and has three branches in Fredericksburg. In Maryland, Virginia Partners Bank trades under the name Maryland Partners Bank and operates a full service branch and commercial banking office in La Plata and a Loan Production Office in Annapolis. Virginia Partners Bank also owns a controlling stake in Johnson Mortgage Company, LLC, which is a residential mortgage company headquartered in Newport News, Virginia, with branch offices in Fredericksburg and Williamsburg, Virginia.

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