Marine Bancorp of Florida, Inc. Advises Shareholders of Pending Closure of Merger with ELGA Credit Union

VERO BEACH, Fla.–(BUSINESS WIRE)–Marine Bancorp of Florida, Inc. (OTCMKTS: MBOF), today announced that its previously announced merger with ELGA Credit Union (“ELGA”) has received substantially all regulatory approvals, as well as approval of shareholders, and expects to close in the coming weeks after all preparations are finalized.

About Marine Bank
Marine Bancorp of Florida, Inc. is the holding company for Marine Bank & Trust Company. Marine Bank, a $650 million community bank, was chartered in 1997 and serves the central east coast of Florida with five full-service Banking Centers and two Loan Production Offices in Vero Beach, Sebastian, Fort Pierce and Melbourne.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts but are based on certain assumptions and reflect current beliefs and expectations. These forward-looking statements are subject to risks and uncertainties and other important factors that could cause actual results, performance, or achievement to differ materially from any future results, performance, or achievements discussed or implied by such forward-looking statements. Such risks include but are not limited to: (i) the financial performance and condition of MBT and ELGA CU; (ii) the ability of MBT and ELGA CU to obtain necessary regulatory, shareholder, and counterparty approvals for the transactions described herein; (iii) customer and/or employee acceptance of the merger of MBT and ELGA CU; and (iv) economic, interest rate, and stock market conditions. The information set forth herein bespeaks caution and speaks only as of the date hereof, and MBT and ELGA CU disclaim any intention or obligation to update the information contained in this press release.

Contacts

Bill Penney
bpenney@marinebank.bank