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Carroll Bancorp announces stock dividend

Carroll Bancorp Inc., the parent company of Carroll Community Bank, announced that its board of directors declared a 5 percent stock dividend. Each stockholder of record as of April 12 will receive one additional share of common stock for every five shares of common stock owned. The stock dividend will be paid on May 1. Fractional shares created by the stock dividend will be rounded up to a whole share.

Carroll Bancorp Inc. currently has 1,095,892 shares of common stock issued and outstanding as of March 22. The stock dividend will increase the common stock issued and outstanding to approximately 1,150,687 shares. The additional common stock will be issued from authorized but unissued shares.

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Carroll Bancorp, Inc. is the holding company of Carroll Community Bank, which has branch offices in Eldersburg, Westminster and Bethesda, along with a lending office in Mount Airy.

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