Bay Bank, FSB acquired Slavie Federal Savings Bank from SFSB Inc. (OTCPK:SFBI) on May 30, 2014. Bay Bank agreed to purchase approximately $129.9 million of assets and will pay the Federal Deposit Insurance Corp a premium of 0.20 percent to assume all of the deposits. Slavie's two branches in Bel Air and Overleaf will become Bay Bank. As of March 31, 2014, Slavie had about $140.1 million in total assets and $111.1 million in total deposits. The transaction is subject to third party approval.


Bay Bank, FSB completed the acquisition of Slavie Federal Savings Bank from SFSB Inc. (OTCPK:SFBI) on May 30, 2014.