Hale victory in bank fight is official 6-month effort at Bank of Baltimore is finally over.

September 10, 1991|By Ross Hetrick | Ross Hetrick,Evening Sun Staff

The stockholder vote turning over control of Baltimore Bancorp to dissident shareholders has been certified by the Corporation Trust Co., the company that counted the votes.

The certification yesterday brings to an end a six-month effort by a group lead by Baltimore Blast owner Edwin F. Hale to seize control of the parent company of the Bank of Baltimore.

The bank also announced that Richard P. Manekin and M. Peter Moser have resigned from the board, leaving only nine holdover board members on the newly enlarged 28-person board.

The new Hale-dominated board will meet for the first time tomorrow for an organizational meeting, a bank spokesman said. The board is expected to elect Hale chairman and Charles H. "Buck" Whittum Jr., a retired Signet Bank executive, chief executive officer.

Besides owning the Blast indoor soccer team, Hale also owns a trucking and barging company.

The vote enlarged the bank holding company's board from 18 to 28 positions. The 10 additional seats will be filled by Hale supporters who ran unopposed for the prospective seats in May. With six seats already held by the Hale group, the dissidents will have 16 of the 28 board votes.

The Hale group also will be able to fill three vacant seats, increasing its strength to 19 of the 28 positions.

The 10 new members of the board are Barry B. Bondroff, Paul G. Hays, Melvin S. Kabik, Thomas T. Koch, R. Andrew Larkin Jr., Herbert F. Lee, Robert A. Pascal, Dennis S. Rasmussen, G. Gregory Russell and David D. Smith.

The dissidents already elected to the board were Hale, Charles H. Whittum Jr., Richard E. Fasold, Dr. David S. Hungerford, Charles J. Kelly Jr. and J. Richard Leon.

The remaining members of the old board are Robert F. Comstock, chairman and chief executive officer; John F. Haigh, president; F. Barton Harvey Jr.; William A. Kroh; John I. Leahy; Martin L. Millspaugh; George L. Russell Jr.; Thomas H. Sherlock, and Eleanor K. Towbridge.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.