Exhibit 99.2

UNAUDITED PRO FORMA CONDENSED COMBINED CONSOLIDATED FINANCIAL STATEMENTS OF OLD LINE BANCSHARES, INC. AND BAYBANCORP, INC.

The following unaudited pro forma combined balance sheets as of March 31, 2018 and unaudited pro forma condensed combined statements of income for the three month period ended March 31, 2018, and the twelve months ended December 31, 2017, illustrate the effect of the merger of Bay Bancorp, Inc. with and into Old Line Bancshares, Inc. (“Old Line Bancshares”). We have based the unaudited pro forma condensed combined financial statements on the unaudited balance sheets at March 31, 2018, the unaudited consolidated statements of income for the three month periods ended March 31, 2018, and the audited statements of income for the twelve months ended December 31, 2017 of Bay Bancorp, Inc. and Old Line Bancshares.

As required by the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 805- Business Combinations, we have used the acquisition method of accounting and adjusted the acquired assets and liabilities of Bay Bancorp, Inc. to fair value as of the balance sheet date. Under this method, we will record Bay Bancorp, Inc.’s assets and liabilities as of April 13, 2018, the date of the acquisition, at their respective fair values and add them to those of Old Line Bancshares. We will record in goodwill any difference between the purchase price for Bay Bancorp, Inc. and the fair value of the identifiable net assets acquired (including core deposit intangibles); however, these are subject to change for a one-year period if material information that existed at the acquisition date previously unknown becomes known. Accordingly, the unaudited pro forma adjustments, including the allocations of the purchase price, are preliminary and have been made solely for the purpose of providing unaudited pro forma condensed consolidated financial information. We will not expense the amortization of the goodwill that results from the acquisition, if any, but will review it for impairment at least annually. To the extent there is an impairment of the goodwill, we will expense the impairment. We will amortize to expense core deposit and other intangibles with definite useful lives that we record in conjunction with the merger. Financial statements that Old Line Bancshares issues after the acquisition will reflect the results attributable to the acquired operations of Bay Bancorp, Inc. beginning on April 13, 2018, the date of completion of the acquisition.

In connection with the acquisition, Old Line Bancshares is currently working to consolidate the operations of Bay Bancorp, Inc. We continue to assess the two companies’ personnel, benefit plans, premises, equipment, computer systems and service contracts to determine where we may take advantage of redundancies. We will record any additional cost associated with such decisions as incurred and have not included them in the pro forma adjustments to the pro forma consolidated statements of income. We have not included these savings in the pro forma consolidated statements of income and there are no assurances that we will realize these reductions.

We have provided the unaudited pro forma information for information purposes only. The pro forma financial information presented is not necessarily indicative of the actual results that we would have achieved had we consummated the merger on the dates or at the beginning of the periods presented, and it is not necessarily indicative of future results. You should read the unaudited pro forma financial information in conjunction with notes thereto and the audited consolidated financial statements and the notes thereto of Old Line Bancshares and Bay Bancorp, Inc. Actual results may be materially different than the pro forma data presented.

We have made certain reclassification adjustments to the pro forma financial statements to conform to Old Line Bancshares’ financial statement presentation.

Old Line Bancshares, Inc.

Consolidated Proforma Balance Sheet with Bay Bancorp, Inc.

(Unaudited)

Old Line Bancshares, Inc.

Consolidated Proforma Statement of Income with Bay Bancorp, Inc.

(Unaudited)

The accompanying notes are an integral part of these consolidated financial statements

Old Line Bancshares, Inc.

Consolidated Proforma Statement of Income with Bay Bancorp, Inc.

(Unaudited)

The accompanying notes are an integral part of these consolidated financial statements

NOTES TO THE UNAUDITED PRO FORMA COMBINED CONSOLIDATED BALANCE SHEET AND STATEMENT OF INCOME

Bay Bancorp, Inc. stockholders own approximately 25.97% of the voting stock of the combined company after the acquisition. The shares of Old Line Bancshares’ common stock illustrated in this pro forma were recorded at $32.36 per share, the closing price of Old Line Bancshares common stock on the effective date of the merger.

Old Line Bancshares will determine the final allocation of the purchase price after we have completed additional analysis to determine the fair values of Bay Bancorp, Inc.’s tangible and identifiable intangible assets and liabilities as of the date of the acquisition. Changes in the fair value of the net assets of Bay Bancorp, Inc. as of the date of the acquisition will likely change the amount of the purchase price allocable to goodwill. The further refinement of transaction costs and fair valuations will likely change the amount of goodwill recorded. The final adjustments may be materially different from the unaudited pro forma adjustments presented herein. Old Line Bancshares has prepared the pro forma financial information to include the estimated adjustments necessary to record the assets and liabilities of Bay Bancorp, Inc. at their respective fair values and represents management’s best estimate based upon the information available at this time. The pro forma adjustments included herein are subject to change as additional information becomes available and as we perform additional analyses. The final acquisition accounting adjustments may be materially different from the pro forma adjustment presented herein. Increases or decreases in the fair value of certain balance sheet amounts including loans, securities, deposits and related intangibles and debt will result in adjustments to the balance sheet and statement of income. Such adjustments, when compared to the information shown in this document, may change the amount of the purchase price allocated to goodwill while changes to other assets and liabilities may impact the statement of income due to adjustments in the yield and/or amortization/accretion of the adjusted assets and liabilities. The unaudited pro forma combined financial information presented herein does not necessarily provide an indication of the combined results of operations or the combined financial position, nor is it indicative of the results of operations in future periods or the future financial position of the combined company.

The total purchase price for the purpose of this pro forma financial information is $143.6 million. The following table provides the calculation and allocation of the purchase price used in the pro forma financial statements and a reconcilement of pro forma shares outstanding after adjustment for the redemption of fractional shares.

Summary of Purchase Price Calculation and Goodwill Resulting from Merger and Reconciliation
of Pro Forma Shares Outstanding at March 31, 2018

($ in thousands except share and per share data)

We calculate diluted earnings per common share by including the average dilutive common stock equivalents outstanding during the period. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.

For pro forma basic and diluted earnings per common share we have assumed that the shares issued at acquisition are outstanding for the entire three month or twelve month period, respectively.