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Litigation and Regulation
Bidders battle over 1st Mariner Bank
Bidders battle over 1st Mariner Bank

An all-out battle over Baltimore's last major independent bank broke out Monday in federal bankruptcy court, leaving a judge to decide — potentially later this week — whether the institution is sold to an investment group with local ties or to a Pennsylvania bank. Both parties want to be named the winning bidder for 1st Mariner Bank, which was auctioned last week as part of its parent company's bankruptcy case. At stake is whether the bank remains based in Baltimore or is merged into the Allentown, Pa.-based National Penn Bank. After years in which the struggling 1st Mariner could find no takers, a fierce contest over who gets to buy it is an interesting turn of...