Rosedale Federal Savings & Loan Association has expanded to Towson after acquiring Midstate Community Bank.
The community banking firms had announced plans in February to merge in the third quarter, forming a company with assets of nearly $1 billion. Midstate, based in Towson, has rebranded under the Rosedale Federal name, with its single branch at 6810 York Road reopening Tuesday morning.
“We are excited to welcome new customers and employees to the Rosedale Federal family,” Kevin Benson, Rosedale Federal’s president and CEO, said in an announcement.
The Perry Hall-based independent mutual savings and loan institution has been in business for more than 109 years and operates nine branches in Baltimore City and Baltimore and Harford counties. Midstate’s CEO N. Alan Anthony and Vice President Nancy Gerling had announced their retirement.
The bank's board will have nine directors from Rosedale Federal and two from Midstate.