Cecil Bank plans to recapitalize through bankruptcy sale

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Cecil Bancorp has reached a deal with investors to recapitalize the long-troubled bank with $30 million and plans to use a bankruptcy auction to secure the cash, the bank said Monday.

The investors have not been named.

The plan, which requires federal approval, is meant to prevent the Elkton-based…

fromhttp://www.baltimoresun.com/business/bs-bz-cecil-bank-bankruptcy-recapitaliztion-20170703-story.html

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