First Mariner says stock to be delisted in June

Company's stock has been traded over the counter since its delisting from Nasdaq in 2011

June 03, 2014|By Jamie Smith Hopkins, The Baltimore Sun

First Mariner Bancorp's days of publicly traded stock are coming to an end.

The Baltimore-based company said in a U.S. Securities and Exchange Commission filing Monday that it expects its stock will be delisted from the OTC Bulletin Board as soon as June 24, "at which point the Company anticipates that there no longer will be a trading market for the Common Stock."

First Mariner — which filed for bankruptcy protection in February and auctioned off 1st Mariner Bank to an investor group — said the Financial Industry Regulatory Authority warned that its stock would be removed from listing if it does not file a quarterly financial report by June 23. First Mariner says it doesn't intend to make that filing.

The company's stock has been traded over the counter since it was delisted from the Nasdaq stock market in 2011.

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