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A bankruptcy judge's decision to lower breakup fees in the auction of Metropolitan National gives Simmons First and others a chance at unseating stalking horse Ford Financial. The results could encourage more interest in bidding for bank units of bankrupt holding companies.
September 6 -
Bankruptcy used to be uncharted water in banking, but the drastic measure is starting to look like the only way for some institutions to reach dry land.
February 10 -
The Baltimore company, which is looking to sell its bank through bankruptcy, secured a judge's support for a proposal requiring advance notice before big investors try and sell common stock.
February 24 -
First Mariner Bancorp (FMAR) in Baltimore is planning a $100 million recapitalization of its bank led by a group of investors.
February 10 -
Rarely is bankruptcy court a welcome detour, but more struggling banks may take it to overcome debtholders blocking their recapitalization efforts.
January 5
The bankruptcy auction of Baltimore-based First Mariner Bank is getting lively.
First Mariner's holding company, First Mariner Bancorp (FMAR),
First Mariner Bancorp declared National Penn's $19.1 million offer the winning bid on Thursday, but RKJS Bank filed an
A hearing on National Penns bid been scheduled for Monday morning, but U.S. Bankruptcy Court Judge David Rice agreed to push it back to 1 p.m.
The $8.6 billion-asset National Penn has 118 branches in Pennsylvania and one branch in Maryland. The $1 billion-asset First Mariner has 17 branches in Maryland.