Sec Form 4 Filing - Watts Thomas B @ OLD LINE BANCSHARES INC - 2011-04-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Watts Thomas B 2. Issuer Name and Ticker or Trading Symbol OLD LINE BANCSHARES INC [ OLBK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1525 POINTER RIDGE PLACE 3. Date of Earliest Transaction (MM/DD/YY) 04/01/2011 (Street) BOWIE, MD20716 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common stock 04/01/2011 J 39,645 A 39,645 D Common stock 04/01/2011 J 7,020 A 13,590 I J. Frank Raley Profit Sharing Trust ( 3 ) Common stock 04/01/2011 J 288,777 A 288,777 I Katherine D. Watts ( 3 ) Common stock 1,080 I J. Frank Raley Ins. ( 3 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Watts Thomas B 1525 POINTER RIDGE PLACE BOWIE, MD20716 X Signatures /s/Christine M. RushAttorney-in-fact 04/07/2011 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Received in exchange for 11,384 shares of Maryland Bankcorp, Inc. common stock in connection with the merger of Maryland Bankcorp, Inc. into Old Line Bancshares, Inc. On the effective date of the merger there was no established trading market for Maryland Bankcorp, Inc. stock. Based on sporadic trades, the last reported trade for Bloomberg Businessweek indicated a price of $14.60. The closing price of Old Line Bancshares, Inc.'s common stock on the effective date of the merger was $9.20. As a result of the merger, each share of Maryland Bankcorp common stock automatically convereted into a right to receive a cash payment of $29.11, subject to the aggregate cash consideration limitation provided in the merger agreement, or 3.4826 shares of Old Line Bancshares, Inc. common stock. ( 2 )Received in exchange for 2,016 shares of Maryland Bankcorp, Inc. common stock in connection with the merger of Maryland Bankcorp, Inc. into Old Line Bancshares, Inc. On the effective date of the merger there was no established trading market for Maryland Bankcorp, Inc. stock. Based on sporadic trades, the last reported trade for Bloomberg Businessweek indicated a price of $14.60. The closing price of Old Line Bancshares, Inc.'s common stock on the effective date of the merger was $9.20. As a result of the merger, each share of Maryland Bankcorp common stock automatically convereted into a right to receive a cash payment of $29.11, subject to the aggregate cash consideration limitation provided in the merger agreement, or 3.4826 shares of Old Line Bancshares, Inc. common stock. ( 3 )The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purpose of Section 16 or any other purpose. ( 4 )Received in exchange for 82,920 shares of Maryland Bankcorp, Inc. common stock in connection with the merger of Maryland Bankcorp, Inc. into Old Line Bancshares, Inc. On the effective date of the merger there was no established trading market for Maryland Bankcorp, Inc. stock. Based on sporadic trades, the last reported trade for Bloomberg Businessweek indicated a price of $14.60. The closing price of Old Line Bancshares, Inc.'s common stock on the effective date of the merger was $9.20. As a result of the merger, each share of Maryland Bankcorp common stock automatically convereted into a right to receive a cash payment of $29.11, subject to the aggregate cash consideration limitation provided in the merger agreement, or 3.4826 shares of Old Line Bancshares, Inc. common stock.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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