Bank Acquisition	6 Months Ended
Jun. 30, 2019
Bank Acquisition
Bank Acquisition	Note 14. Bank Acquisition On December 13, 2018 the Company entered into a share exchange agreement with Virginia Partners Bank (“Partners”). Partners is a commercial bank chartered by the Commonwealth of Virginia Bureau of Financial Institutions and insured by the Federal Deposit Insurance Corporation. Partners is headquartered in Fredericksburg, Virginia, which is the location of the operations center and administrative headquarters and three branch offices. An additional branch office is located in La Plata, Maryland, and a loan production office is located in Annapolis, Maryland. Each share of Partners common stock will be converted into the right to receive 1.7179 shares of Delmar Bancorp common stock. From and after the effective time of the share exchange, former holders of Partners Common Stock shall be shareholders of Delmar, and shall have no rights or interest as a shareholder of Partners. As of June 30, 2019, there were 4,085,181 shares of Partners common stock outstanding which were held by approximately 334 holders of record. Partners will continue to conduct its business as a wholly owned first tier subsidiary of Delmar, under the name “Virginia Partners Bank”. The share exchange is anticipated to become effective during the third quarter of 2019. Direct costs related to the share exchange were accrued and expensed as incurred. During the three months and six months ended June 30, 2019, the Company incurred $100,000 and $371,000, respectively, in Partners share exchange related expenses. There were no expenses related to the share exchange during the first six months ended June 30, 2018.

Note 14. Bank Acquisition

On December 13, 2018 the Company entered into a share exchange agreement with Virginia Partners Bank (“Partners”). Partners is a commercial bank chartered by the Commonwealth of Virginia Bureau of Financial Institutions and insured by the Federal Deposit Insurance Corporation. Partners is headquartered in Fredericksburg, Virginia, which is the location of the operations center and administrative headquarters and three branch offices. An additional branch office is located in La Plata, Maryland, and a loan production office is located in Annapolis, Maryland. Each share of Partners common stock will be converted into the right to receive 1.7179 shares of Delmar Bancorp common stock. From and after the effective time of the share exchange, former holders of Partners Common Stock shall be shareholders of Delmar, and shall have no rights or interest as a shareholder of Partners. As of June 30, 2019, there were 4,085,181 shares of Partners common stock outstanding which were held by approximately 334 holders of record. Partners will continue to conduct its business as a wholly owned first tier subsidiary of Delmar, under the name “Virginia Partners Bank”. The share exchange is anticipated to become effective during the third quarter of 2019.

Direct costs related to the share exchange were accrued and expensed as incurred. During the three months and six months ended June 30, 2019, the Company incurred $100,000 and $371,000, respectively, in Partners share exchange related expenses. There were no expenses related to the share exchange during the first six months ended June 30, 2018.