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Hamilton Bank depositors OK conversion to stock company

Depositors of Towson-based Hamilton Bank have approved the conversion of the bank to a publicly traded holding company, to be called Hamilton Bancorp, the company announced Thursday.

Hamilton Bank currently is a mutual company owned by its depositors. The conversion is expected to be completed Wednesday, when shares will begin trading on the Nasdaq Capital Market under the HBK symbol.

Hamilton plans to sell 3.7 million shares at $10 per share. The bank, with assets reaching nearly $316 million at the end of June, has five branches in Baltimore City and Baltimore and Anne Arundel counties.

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