Marlin Announces Relief From Capital Maintenance and Liquidity Agreement
Marlin Business Services Corp. (MRLN)
Last marlin business services corp. earnings: 8/1 04:05 pm
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US:NASDAQ Investor Relations:
investor.marlinfinance.com
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Source: GlobeNewswire
MOUNT LAUREL, N.J., March 31, 2020 (GLOBE NEWSWIRE) -- Marlin Business Services Corp. (NASDAQ: MRLN), a nationwide provider of capital solutions to small businesses (“Marlin” or the “Company”), announced today the termination of its Capital Maintenance and Liquidity Agreement (the “CMLA Agreement”) with the Federal Deposit Insurance Corporation (the “FDIC”), and the FDIC’s rescission of certain nonstandard conditions in the FDIC’s original order granting federal deposit insurance to the Company’s wholly-owned subsidiary, Marlin Business Bank. As a result of the termination of the CMLA Agreement, the Company’s consolidated capital maintenance requirements have been reduced going forward to the standard regulatory thresholds. Based on the termination of the CMLA Agreement, the Company’s capital requirements would have been reduced by approximately $30 million as of December 31, 2019. Commenting on today’s announcement, Marlin’s President and CEO, Jeff Hilzinger, said, “We are very
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