Our Website Uses Cookies 

We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.

For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Covington Advises GCP in Investment Agreement with First Mariner Bancorp


WASHINGTON, DC, February 10, 2014 — Covington & Burling represented GCP Capital Partners in connection with the acquisition and recapitalization of 1st Mariner Bank by a newly formed interim bank that will be capitalized by investors including GCP Capital Partners.

Formed and led by its management team, the interim bank signed an agreement with First Mariner Bancorp, the parent holding company of 1st Mariner Bank, to acquire the bank for a cash payment of approximately $4.8 million.

The acquisition is subject to a competitive bidding process. If the newly formed bank is the successful bidder, it will acquire the bank and recapitalize it with the remainder of the capital raise from GCP Capital and other investors of approximately $100 million.

The Covington team included Michael Reed, Keith Noreika, Stuart Stock, Rusty Conner, Ben Hoch and Martin Beeler.

Share this article: