Compensation for First Mariner Bancorp's top executive reached $495,362 last year, about double from a year ago thanks to a bonus, according to a company filing with the Securities and Exchange Commission.
Mark A. Keidel, president, chief operating officer and interim CEO of the Baltimore-based bank holding company, earned a base salary of $235,000, a bonus of $251,340 and other compensation of $9,022 in 2012, according to regulatory filings. His total compensation the year before was $244,436.
Keidel joined First Mariner in 2000 as an executive vice president and chief financial officer. In December 2011, he became interim CEO, replacing founder Edwin F. Hale Sr., who stepped down as part of a deal with a New York investment firm that planned to inject millions into the struggling company on certain conditions. First Mariner last year dropped out of that agreement.
Keidel's salary for this year been raised to $300,000, the company reported.