CIB Marine Bancshares, Inc. Reaches Agreement with Hildene Capital Management
April 27, 2021 at 10:17 pm EDT
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On April 27, 2021, CIB Marine Bancshares, Inc. issued a letter to its shareholders announcing that it has reached an agreement in principle with Hildene Capital Management, LLC and Hildene Opportunities Master Fund I, Ltd regarding a plan for the repurchase by CIB Marine of all of its preferred stock over the next four years and that it has postponed its annual meeting of shareholders for three weeks to allow it time to seek regulatory approvals, finalize negotiations, and document the repurchase Plan and a related amendment to the Company’s Articles of Incorporation.
CIB Marine Bancshares, Inc. (CIB Marine) is a bank holding company, which provides a full range of banking and related services through its banking subsidiary, CIBM Bank (the Bank). Its segments include mortgage, banking and corporate. The Bank offers a full array of traditional banking services, including a range of loan products, such as commercial loans, commercial real estate loans, commercial and residential construction loans, government guaranteed loans, one-to-four family residential real estate loans, home equity loans, consumer loans, and commercial and standby letters of credit; consumer and commercial deposit accounts, including savings, checking, and time deposits; trust services; cash management; repurchase agreements, and other traditional community banking services. The Bank operates approximately 10 banking offices and eight mortgage loan offices in Illinois, Wisconsin and Indiana.
CIB MARINE BANCSHARES, INC. 
