1st Mariner Bank to be sold to investors - baltimoresun.com
Parent company filed for bankruptcy protection as part of
the deal; the bank is not included in that filing
By Jamie Smith Hopkins, The Baltimore Sun 7:12 PM EST,
February 10, 2014
Labels: Bus
Banking 1st Mariner Bank, Bus
Econ Banking, Business
Banking, Journalists
Hopkins Jamie Smith Sun, People
Keidel Mark
The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis.
A group of investors, many with local ties, have agreed to
buy the Baltimore bank — the largest based in the region — and recapitalize it
with about $100 million.
First Mariner Bancorp, the parent company, said it filed for
Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to
"facilitate the transaction."
[…]
"For four years, the bank has been under a regulatory
order that it's been trying to satisfy, and we've reached the finish
line," said Mark Keidel, interim president of 1st Mariner Bank. "This
agreement … puts the bank on much firmer financial ground — and quite frankly
gives us the ability to be back on offense."
Jamie Smith Hopkins: 1st Mariner Bank to be sold to
investors
+++++++++++++++
Kevin Dayhoff is an artist - and a columnist for:
Patuxent Publishing Co., The Carroll Eagle: www.explorecarroll.com: http://www.explorecarroll.com/search/?s=Dayhoff&action=GO
The Tentacle: www.thetentacle.com http://www.thetentacle.com/author.cfm?MyAuthor=41
The Tentacle: www.thetentacle.com http://www.thetentacle.com/author.cfm?MyAuthor=41
Westminster Patch: http://westminster.patch.com/search?keywords=Dayhoff
Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/
Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/
Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org
Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/
Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org
Twitter: https://twitter.com/kevindayhoffTwitpic: http://twitpic.com/photos/kevindayhoff
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net
Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/
E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
+++++++++++++++
Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net
Tumblr: Kevin Dayhoff Banana Stems www.kevindayhoff.tumblr.com/
Smurfs: http://babylonfluckjudd.blogspot.com/
Google profile: https://profiles.google.com/kevindayhoff/
E-mail: kevindayhoff(at)gmail.com
My http://www.explorecarroll.com/ columns appear in the copy of the Baltimore Sunday Sun that is distributed in Carroll County: https://subscribe.baltsun.com/Circulation/
+++++++++++++++
