Fairmount Bancorp in Baltimore seems poised to face a proxy battle next year from activist investor Joseph Stilwell.
Stilwell, who through various funds owns about 7% of Fairmount's stock, disclosed in a
"We believe the issuer's return on equity is inadequate and unlikely to adequately improve for the foreseeable future," the filing said. "We believe the issuer should be sold to maximize shareholder value."
Stilwell noted in his filing that he was recently
Fairmount held its 2014 annual meeting in late February.