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FMAR Clarifies Acquisition of 24.9% of Cecil Bancorp

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56Chevy Member Level  Tuesday, 04/10/12 12:28:33 AM
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FMAR Clarifies Acquisition of 24.9% of Cecil Bancorp (4/09/12)

1st Mariner Bancorp (OTCBB: FMAR), parent company of 1st Mariner Bank, is clarifying the circumstances of 1st Mariner Bank's acquisition of 1,848,115 shares, or 24.9%, of Cecil Bancorp's common stock. The shares were obtained through the collection process of a defaulted loan. 1st Mariner Bank is not pursuing an acquisition of Cecil Bancorp. 1st Mariner Bank has no intention of exercising its ownership position to influence Cecil Bancorp's board of directors or management in the performance of their responsibilities.

This news release was in response to the following item in the Baltimore Business Journal:

http://www.bizjournals.com/baltimore/blog/morning-edition/2012/04/first-mariner-acquires-25-share-of.html


* PPS of CECB on 4/9/2012 was $.90

** I do not own shares of CECB nor do I plan to anytime soon

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