The war of words continues between Provident Bankshares Corp. of Baltimore and an activist investor who has been pressuring the company to put itself up for sale.

The $4.9 billion-asset company said the latest argument made by Mid-Atlantic Investors of Columbia, S.C., for selling the bank is flawed and misleading, according to a document Provident filed last week with the Securities and Exchange Commission. "In their zeal to make a quick profit on their leveraged investment, they misstated numbers supposedly supportive to their argument," the proxy document said.

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