Activist shareholder Joseph Stilwell has a new thrift in his crosshairs after making an initial investment in Fairmount Bancorp (FMTB) in Baltimore.

Funds controlled by the New York investor disclosed a 5.2% stake $79 million-asset thrift on Friday. The funds have obtained roughly 26,000 shares of the company's stock since the end of July, they said in a regulatory filing. Stilwell's filing said that he intends to assert shareholders rights with Fairmount, which could include encouraging its management to pay dividends and repurchase stock.

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