<PAGE>
                                                                   EXHIBIT 10.34

                          COMPLETION GUARANTY AGREEMENT

      THIS COMPLETION GUARANTY AGREEMENT (this "Agreement") is made as of
November 3, 2005, to MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking
corporation (the "Bank"), by OLD LINE BANCSHARES, INC., a Maryland corporation
(the "Guarantor"), witnesseth:

                                    RECITALS

      The Bank has agreed to make a construction loan that may convert to a term
loan (collectively, the "Credit Facility") available to Pointer Ridge Office
Investment, LLC, a Maryland limited liability company (the "Borrower"), subject
to and in accordance with that certain Loan Agreement dated November 3, 2005
(which Loan Agreement, as the same may from time to time be amended, restated,
supplemented or otherwise modified is herein called the "Loan Agreement"), by
and between the Borrower and the Bank. The Guarantor has requested the Bank to
make the Credit Facility available to the Borrower, and the Bank has agreed to
do so, provided that, among other things, the Guarantor guarantees the
completion of the Project (hereinafter defined) as set forth herein.

      NOW, THEREFORE, in order to induce the Bank to make the Credit Facility
available to the Borrower, the Guarantor agrees and covenants with the Bank as
follows:

      1. RECITALS AND CERTAIN DEFINITIONS. The Guarantor acknowledges that the
above recitals are true and correct, and hereby incorporates the same by this
reference into the body of this Agreement. The term "Financing Documents" as
used herein means collectively and includes this Agreement, the Loan Agreement,
the Note (as such term is defined in the Loan Agreement), the Deed of Trust (as
such term is defined in the Loan Agreement) and any other instrument, document
or agreement both now and hereafter executed, delivered or furnished by the
Borrower or any other person evidencing, guaranteeing, securing or in connection
with, the Credit Facility. The term "Project" as used herein means the
construction of the Improvements (as such term is defined in the Loan Agreement)
on the Land (as such term is defined in the Loan Agreement) in accordance with
the Plans and Specifications (as such term is defined in the Loan Agreement).
The term "Borrower's Obligations" means all present and future debts,
obligations and liabilities of the Borrower to the Bank arising pursuant to,
and/or on account of, the provisions of the Loan Agreement, the Note and any of
the other Financing Documents, including, without limitation, the obligation (a)
to pay all principal, interest, late charges and prepayment premiums (if any)
due at any time under the Note; (b) to pay all expenses, indemnification
payments and other sums due at any time under the Deed of Trust, together with
interest thereon as provided in the Note; and (c) to perform, observe and comply
with all of the terms, covenants and conditions, expressed or implied, which the
Borrower is required to perform, observe or comply with pursuant to the terms of
the Loan Agreement, the Deed of Trust or any of the other Financing Documents.

<PAGE>

      2. GUARANTY. If the Borrower:

        (a) fails to complete the Improvements on the Land free of liens except
those permitted by any of the Financing Documents and by the Completion Date (as
such term is defined in the Loan Agreement) in accordance with the Plans and
Specifications with only such amendments thereto as shall be approved by the
Bank, and in accordance in all material respects with all material laws, rules,
regulations and requirements of all governmental authorities having
jurisdiction, or

        (b) fails to keep the Property (as such term is defined in the Loan
Agreement) free from all liens and claims which may be filed or made for
performing work and labor thereon or furnishing materials therefor in connection
with the construction thereof, or both, except to the extent any of the same are
permitted by any of the Financing Documents, then the Guarantor hereby
unconditionally, irrevocably, jointly and severally guarantees to the Bank that
the Guarantor shall, provided that sums under the Loan Agreement are thereafter
advanced by the Bank in the manner therein provided:

          (1) cause the Improvements to be completed free and clear of liens
except those permitted by any of the Financing Documents in the manner and
within the period of time required by the Loan Agreement, in accordance with the
Plans and Specifications, amended only as aforesaid, and in accordance in all
material respects with all material laws, rules, regulations and requirements of
all governmental authorities having jurisdiction,

          (2) cause any such liens to be removed and thereafter keep the
Property free from all such liens,

          (3) make payment in full to all laborers, subcontractors and
materialmen on or before the Completion Date for the costs of the Improvements,
and

          (4) pay all costs and expenses incurred in completing the activities
set forth in above subparts (1), (2) and (3) when due, and/or pay to or
reimburse the Bank for all reasonable out of pocket expenses incurred or to be
incurred by the Bank in completing the activities set forth above in subparts
(1), (2) and (3) in accordance with the terms of the Loan Agreement (such costs
and expenses and other sums being herein collectively called the "Guarantor's
Monetary Obligations"), provided that, notwithstanding anything herein to the
contrary, the Guarantor's liability for the Guarantor's Monetary Obligation
hereunder shall be limited to an amount not to exceed fifty percent (50%) of the
aggregate Guarantor's Monetary Obligations (Guarantor's Limited Obligations).

      The Guarantor's obligations to comply with subparts (1), and (2) and (3)
are herein collectively called the "Guarantor's Non-Monetary Obligations, and
collectively, the Guarantor's Non-Monetary Obligations," and the Guarantor's
Monetary Obligations are herein collectively called the "Guarantor's
Obligations."

      3. ABSOLUTE GUARANTY, ETC. The guaranty of the Guarantor's Limited
Obligations under this Agreement is a guaranty of payment and not of collection.
The Guarantor's

                                       2
<PAGE>

Obligations shall remain in full force and effect until all of the Guarantor's
Non-Monetary Obligations are fully completed, and the Guarantor's Limited
Obligations are indefeasibly paid in full. Once all of Guarantor's Limited
Obligations have been indefeasibly paid in full, and Guarantor's Non-Monetary
Obligations are fully completed, then Guarantor's Obligations shall be deemed to
be fully satisfied, and this Agreement, without any further action by the Bank,
shall be deemed terminated, and Guarantor shall have no further liability
hereunder. The obligations and liabilities of the Guarantor under this Agreement
are the primary, direct and immediate obligations of the Guarantor and shall in
no way be affected, limited, impaired, modified or released by, subject to or
conditioned upon, and may be enforced against the Guarantor irrespective of (a)
any attempt, pursuit, enforcement or exhaustion of any rights and remedies the
Bank may at any time have to collect any or all of the Borrower's Obligations,
whether pursuant to any of the Financing Documents or otherwise, from the
Borrower, from any other maker, endorser, surety or guarantor of, or pledgor of
collateral and security for, all or any part of the Borrower's Obligations (each
such other maker, endorser, surety, guarantor or pledgor an "Obligor" and
collectively, the "Obligors"), and/or by any resort or recourse to or against
any collateral and security for all or any part of the Borrower's Obligations,
(b) the invalidity, irregularity, lack of priority or unenforceability in whole
or in part of any or all of the Financing D