Marine Bancorp of Florida, Inc. (MBOF)

ELGA Credit Union to Acquire Marine Bank & Trust

ELGA Credit Union ("ELGA CU") and Marine Bancorp of Florida, Inc. (OTCMKTS: MBOF), the holding company for Marine Bank & Trust Company ("Marine Bank"), today announced that the companies have entered into a definitive agreement under which ELGA CU will acquire Marine Bank in an all-cash transaction. Subject to the terms of the agreement, shareholders of Marine Bank will receive $43.75 in cash for each share owned.