National Penn Participates In First Mariner Bank Bidding Process - Quick Facts

(RTTNews) - National Penn Bancshares Inc. (NPBC) announced that it has participated in the bidding process related to the purchase of the stock of First Mariner Bank, a wholly-owned subsidiary of First Mariner Bancorp, which filed for bankruptcy protection on February 10, 2014.

National Penn said its bid was made in conjunction with the bankruptcy court process and anticipates that the court will approve the winning bidder on Monday, April 14, 2014.

In the event that National Penn is named the winning bidder, the transaction will be completed via a merger of First Mariner Bank with and into National Penn Bank.