EXHIBIT 99.1

Old Line Bancshares, Inc. Reports $5.8 Million in Net Income Available to Common Stockholders, an Increase of 70.33 Percent for the Nine Months Ended September 30, 2012

3^rd QUARTER 2012 AND YEAR TO DATE HIGHLIGHTS

• Net income available to common stockholders of $2.0 million or $0.30 per basic share for the quarter increased 18.79% from the $1.7 million or $0.25 per basic share reported for the third quarter of 2011.
• Net income available to common stockholders of $5.8 million or $0.85 per basic share for the nine month period increased 70.33% from the $3.4 million or $0.56 per share reported for the nine months ended September 30, 2011.
• The 2012 third quarter Return on Average Assets (ROAA) and Return on Average Equity (ROAE) were 0.93% and 11.83%, respectively.
• For the nine months ended September 30, 2012, the ROAA and ROAE were 0.93% and 11.67%, respectively.
• Non-performing assets were 1.34% of total assets at September 30, 2012.
• The ratio of the allowance for loan losses as a percent of gross loans was 0.78% at September 30, 2012 compared to 0.69% at December 31, 2011.
• The net interest margin was 4.72% for the third quarter and 4.69% for the nine month period in 2012.
• On September 10, 2012, we announced that we had executed a merger agreement that provided for the acquisition of WSB Holdings, Inc.

BOWIE, Md., Oct. 29, 2012 (GLOBE NEWSWIRE) -- James W. Cornelsen, President & Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK), the parent company of Old Line Bank, reported that net income available to common stockholders increased $2.4 million to $5.8 million for the nine months ended September 30, 2012, compared with $3.4 million for the nine months ended September 30, 2011. Earnings were $0.85 and $0.84 per basic and diluted common share for the nine months ended September 30, 2012 and $0.56 per basic and diluted common share for the same period in 2011. The 70.33% increase in net income available to common stockholders was primarily the result of a $5.4 million increase in net interest income. This increase derived from the $165.3 million or 29.16% growth in average interest earning assets and a modest increase in the net interest margin from 4.66% for the period ending September 30, 2011 compared to 4.69% for the period ending September 30, 2012, while at the same time total interest expense remained stable, increasing only $48,055 for the nine months ended September 30, 2012 compared to the same period in 2011. The increase in average interest earning assets was the result of a $125.1 million increase in average gross loans and a $51.5 million increase in average investments. The primary cause of this growth was the acquisition of Maryland Bankcorp, Inc. on April 1, 2011. This growth coupled with an approximately $786,000 increase in the accretion of fair value adjustments that were recorded in conjunction with the merger, were the predominant causes of the increase in net interest income. Non-interest revenue also increased $1.0 million during the nine month period as a result of the acquisition, a $736,728 increase in gains on sales of investment securities, and a $62,124 increase in gains on sales of other real estate owned. These improvements were partially offset by a $2.8 million increase in non-interest expense and a $125,000 increase in the provision for loan losses. 

For the three month period ended September 30, 2012, net income available to common stockholders was $2.0 million or $0.30 per basic common share and $0.29 per diluted common share. This was $320,802 or 18.79% higher than the same period in 2011. During the three month period ended September 30, 2012, net interest income increased $192,202 or 2.30% primarily as a result of a $69.0 million increase in average gross loans outstanding. The $69.0 million in average gross loan growth was a result of our business development efforts, expanded market area and increased name recognition. Compared to the same period in 2011, non-interest revenue decreased $175,699 primarily due to a $219,199 decline in earnings on bank owned life insurance, a $64,597 decline in service charges on deposit accounts and because we recognized losses totaling $48,509 on the sales of other real estate owned compared to gains of $45,595 in 2011. This was partially offset by an increase of $217,259 in gains on sales or calls of investment securities for the three month period ended September 30, 2012 compared to the same period in 2011. Salaries and employee benefits, data processing and other operating expenses decreased primarily because of our efforts to continue to manage operating cost.

"We are extremely pleased to report a solid financial performance. Since the acquisition of Maryland Bankcorp, we have made significant progress in disposing of troubled assets, reducing expenses, and maintaining and growing our loan and deposit base. The acquisition of Maryland Bankcorp continues to positively enhance our operating performance. It is a testament to the quality of the Old Line Bank team that we were able to accomplish this solid financial performance while completing the due diligence of WSB," said Mr. Cornelsen. 

"On September 10, 2012, we announced that we had executed a merger agreement that provided for the acquisition of WSB Holdings, Inc. We plan to complete the merger by the 2^nd quarter of 2013. Until completion, we anticipate that merger related expenses may cause earnings to be slightly lower than would otherwise be expected. However, we anticipate the WSB merger will be accretive to earnings within three quarters of closing. This combination will create a $1.2 billion banking institution and will allow us to expand our financial services with the addition of a successful and growing mortgage origination team. We also anticipate that the acquisition and integration of WSB will enhance the liquidity of our stock as well as our overall financial condition and operating performance."

Asset quality continues to remain strong even with the addition of the acquired loan portfolio. Non-performing assets to total assets remained stable and statistically low at 1.34% and the allowance for loan losses as a percent of gross loans increased modestly to 0.78% compared to 0.69% at December 31, 2011. For the three month period ended September 30, 2012, we decreased the provision for loan losses by $425,000 while increasing it $125,000 for the nine month period.  Although the entire loan portfolio's asset quality remained stable, the economy continues to experience flat or minimal growth and there are no indications that this will change significantly in the near term. Ultimately, this could impact our borrowers' financial stability. As a result of our loan growth and the continued stagnation of the economy, we believe it is prudent to continue to increase the allowance for loan losses as a percent of gross loans. Based on our internal analysis, the ratio of non-performing assets, and the satisfactory historical performance of the loan portfolio, management believes the allowance continues to appropriately reflect the inherent risk of loss in our portfolio and the current economic climate.   

Old Line Bancshares, Inc. is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Bowie, Maryland, approximately 10 miles east of Andrews Air Force Base and 20 miles east of Washington, D.C. Old Line Bank has 19 branches located in its primary market area of suburban Maryland (Washington, D.C. suburbs and Southern Maryland) counties of Anne Arundel, Calvert, Charles, Prince George's and St. Mary's. It also targets customers throughout the greater Washington, D.C. metropolitan area. 

The statements in this press release that are not historical facts, in particular the statements with respect to the acquisition and integration of WSB and that this acquisition will enhance stock liquidity as well as our financial condition and operating performance, that merger related costs will cause earnings to be slightly lower than would otherwise be expected, that the merger will be accretive to earnings within three quarters of closing and our ability to complete this acquisition by the second quarter of 2013, expanding our financial services and market and the adequacy of our loan loss allowance constitute "forward-looking statements" as defined by Federal securities laws. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These statements can generally be identified by the use of forward-looking terminology such as "believes," "expects," "intends," "may," "will," "should," "anticipates," "plans" or similar terminology. Actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, failure to receive required regulator or stockholder approvals necessary to complete the merger, that the pending stockholder lawsuit related to the merger could delay or prevent the merger, that integrating WSB's business into our own could take longer or be more difficult than anticipated, deterioration in economic conditions or a slower than anticipated recovery in our target markets or nationally, sustained high levels of or further increases in the unemployment rate in our target markets, the actions of our competitors and our ability to successfully compete, in particular in new market areas, and changes in laws impacting our ability to collect on outstanding loans or otherwise negatively impact our business, including regulations implemented pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in July 2010. Forward-looking statements speak only as of the date they are made. Old Line Bancshares, Inc. will not update forward-looking statements to reflect factual assumptions, circumstances or events that have changed after a forward-looking statement was made. For further information regarding risks and uncertainties that could affect forward-looking statements Old Line Bancshares, Inc. may make, please refer to the filings made by Old Line Bancshares, Inc. with the U.S. Securities and Exchange Commission available at www.sec.gov.

CONTACT:  OLD LINE BANCSHARES, INC.
          CHRISTINE M. RUSH
          CHIEF FINANCIAL OFFICER
          (301) 430-2544