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8-K - 8-K - CAPITAL TRUST HOLDINGS INC. | a11-25320_18k.htm |
Exhibit 99.1
1st Mariner Bancorp Announces Its Stock
Will Begin Trading On The Over The Counter Bulletin Board
Baltimore, MD (August 31, 2011) 1st Mariner Bancorp (NASDAQ: FMAR), parent company of 1st Mariner Bank, announced that it received notice from the NASDAQ Stock Market (NASDAQ) that its request for continued listing on NASDAQ was denied. NASDAQs determination followed an appeal by the Company of NASDAQs initial delisting determination to a NASDAQ Listing Qualifications Panel on August 25, 2011. NASDAQs determination was based on the Companys failure to comply with: (1) NASDAQ Listing Rule 5450(b), which requires maintenance of a minimum of $2.5 million in shareholders equity; and (2) NASDAQ Listing Rule 5450(a)(1), which requires maintenance of a minimum bid price of $1.00 per share.
The delisting from NASDAQ in no way affects the daily operations of 1st Mariner Bank or any of its branches.
Effective September 1, 2011, 1st Mariner Bancorps stock will begin trading on the Over The Counter Bulletin Board (OTC). Quotations for the Companys stock can be found under the symbol FMAR.OB.
Shareholders may contact Paul Susie, the Companys Chief Financial Officer, with any questions regarding the move to the OTC.
Media Contact:
Bill Atkinson
Weber Shandwick
410-558-2100