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Scully defends Howard Bank-First Mariner deal after receiving opposition

Holden Wilen
American City Business Journals

Howard Bank CEO Mary Ann Scully said the planned acquisition of First Mariner Bank will likely close in January as the bank faces opposition from an anti-poverty activist group. The Florida Minority Community Reinvestment Coalition in September sent a letter of opposition to the heads of the Federal Reserve Board, the Federal Deposit Insurance Corp. and the Federal Reserve Bank of Richmond opposing the deal. Ellicott City-based Howard Bancorp, the parent of Howard Bank, plans to acquire First Mariner in a $163.4 million deal that would create the seventh-largest bank in Greater Baltimore.