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OLD LINE BANCSHARES INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 8, 2019. Its latest SEC filing is a SC 13D/A from Dec 9, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Makes loans, accepts deposits and offers investment and retirement services to businesses, professionals and consumers in Maryland.

How Did They Make Money?

Earns interest income and fees from lending and investing funds deposited at the bank.

FY2018 revenue

Who Were Their Customers?

Businesses, professionals and consumers—including entrepreneurs and high-net-worth clients—are among its loan and financial-services customers in its Maryland market.

Did Revenues Turn Into Profits?

Yes. It kept 24 cents of every revenue dollar as net income in FY2018 and turned 20 cents into free cash flow.

Net income, FY2018
24% of revenue
▲ +70% vs FY2017 ($16M, 22%)
Free cash flow, FY2018
20% of revenue
▲ +5% vs FY2017 ($21.4M, 29%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▲ +2%
vs $30.8M in Q3 FY2018
Net income
▲ +11%
vs $8.3M in Q3 FY2018
  • Nov 15, 2019 Regulatory approvals received for WesBanco merger The parties had received the required regulatory approvals and expected the merger to close around November 22, 2019.
  • Jul 24, 2019 Agreed to merge with WesBanco Under the agreement, Old Line shareholders would receive WesBanco shares for each Old Line share.

Grew. Revenue grew 2.4x in 4 years, from $45.6M in FY2014 to $111.3M in FY2018, about 25% a year.

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