Try digitalPLUS for 10 days for only $0.99


1st Mariner buyers win regulatory approval
1st Mariner buyers win regulatory approval

The investors buying 1st Mariner Bank said Monday that they've received the regulatory approvals they need and expect to close on the deal as soon as next week, turning the page on the Baltimore institution's most tumultuous chapter. The purchasers — who go by the name RKJS Bank — said they will put about $91 million in cash into the bank to recapitalize it, "significantly improving the strength of its balance sheet." The Federal Deposit Insurance Corp. and Maryland's financial regulation agency both approved the transaction. The approvals were the last major hurdle for a deal that's been a long time in coming. Howard Feinglass, a Baltimore native...