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56Chevy

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56Chevy

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Re: Enterprising Investor post# 196

Tuesday, 02/11/2014 2:45:52 PM

Tuesday, February 11, 2014 2:45:52 PM

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The investors, led by Priam Capital, Patriot Financial Partners, GCP Capital Partners and TFO Financial Institutions Restructuring Fund LLC, as well as several prominent members of the Baltimore business community, formed an interim bank that has signed an agreement with the holding company to acquire 1st Mariner Bank for a cash payment to the holding company, subject to a competitive bidding process for higher and better offers.

They're baaaaccck...and this time with friends. We've seen Priam Capital before. These were the guys that wanted to infuse $36MM back in 2011. The problem was the bank wanted (and needed) to raise $160MM which meant Priam needed some deep pocketed friends to join them. That never happened and Priam eventually rescinded the offer.

Interesting.

http://www.reuters.com/article/2011/04/19/idUS234366+19-Apr-2011+PRN20110419



Learn something new every time you invest...and take it with you to the next opportunity.

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