Middletown Valley Bank announces approval to covert to holding company

MIDDLETOWN, Md. — Middletown Valley Bank’s shareholders recently approved converting to a bank holding company structure.

Shareholders also approved adding two seats on the board of directors.

“We are pleased that the shareholders voted to support the conversion to a bank holding company structure, which will provide flexibility as we continue to grow and service a larger client base,” President and CEO Robert “B.J.” Goetz Jr. said in a news release.

“The addition of two seats on the board will allow the board to boost the expertise in certain areas and share in the increased responsibilities of being a larger bank.”

Middletown Valley Bank is headquartered in Middletown, Md., and conducts full-service commercial and retail banking services through six branches in Frederick and Washington County, Md.