first mariner bancorp

Investors who tried for years to get a stake in 1st Mariner Bank have closed on their purchase of the Baltimore institution.

First Mariner Bancorp corrected an earlier report that its stock trading would stop trading, saying it would now be listed on the "Pink Sheets."

The investor group buying 1st Mariner Bank in Baltimore said Monday that they've received necessary federal and state regulatory approvals and expect to close on the deal this month.

First Mariner Bancorp's days of publicly traded stock are coming to an end.

High finance is a small world, just as Baltimore is a small town, and it showed as potential conflicts of interest cropped up during a fight over ownership of the city's biggest local bank.

In a stunning reversal, the spurned bidder for 1st Mariner Bank got approval Tuesday to purchase it — preserving the city's largest independent bank as a Baltimore-based institution..

An all-out battle over Baltimore's last major independent bank broke out Monday in a contentious court hearing, leaving a judge to decide — potentially later this week — whether the institution is sold to an investment group with local ties or a Pennsylvania bank.

National Penn Bank — a regional bank that mostly operates in Pennsylvania — emerged as the highest bidder for 1st Mariner Bank Friday, dashing the hopes of group of investors who wanted the bank to remain based in Baltimore.

1st Mariner Bank, Baltimore's largest independent bank, will go to auction Thursday morning with more than one bidder.

A bankruptcy judge had approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's bankruptcy filing. Bids for the Baltimore-based bank, which is not part of the bankruptcy, were due Monday by 4 p.m.

First Mariner Bancorp's losses mounted last year before the parent of 1st Mariner Bank filed for bankruptcy protection in February.

The celebrity and John "Jack" Dwyer, chairman of the family of Capital Funding companies, purchased the property for $4.5 million in a 50-50 venture in January after being connected by Dimitris Spiliadis, whose family opened the 12-room hotel in 2011 and lost it to foreclosure last summer.

A bankruptcy judge has approved First Mariner Bancorp's request to speedily auction off its Baltimore bank, a process that drew heated objections from the creditors' committee and U.S. trustee.

Mariner Finance will move its corporate headquarters to Baltimore County later this year, part of a broader planned expansion of the Baltimore-based consumer-loan company.

1st Mariner Bank will be sold to a group of investors who will recapitalize it with about $100 million to meet regulatory standards, its parent company said Monday.

First Mariner Bancorp is facing a deadline after this year to pay millions in interest to investors or fall into default.

First Mariner Bancorp, parent of 1st Mariner Bank, said it is closing two branches early next year, leaving the Baltimore-based bank with 16 branches.

Two years after his departure from First Mariner Bancorp, the bank he launched and turned into city's largest, Ed Hale finds himself on the outside looking in.

First Mariner Bancorp cites rising interest rates and a slowdown in refinancings for its $1.48 million second quarter loss.

After contract expired, naming rights are up for sale

M&T Bank Corp. executive Atwood "Woody" Collins III has replaced Edwin F. Hale Sr. as chair of the Baltimore Convention and Tourism Board, city officials said Monday

After several profitable quarters, First Mariner Bancorp reported Tuesday that it lost nearly $2.3 million in the first quarter as it disposed of bad loans and foreclosed real estate.

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.

The Federal Deposit Insurance Corp. has lifted a cease and desist order that 1st Mariner Bank has operated under since April 2009, the bank announced Monday.

First Mariner Bancorp on Tuesday corrected its preliminary earnings report for last year, reducing its annual non-interest income by $892,000.

Ed Hale, the Baltimore developer and former CEO of First Mariner Bancorp, on Monday filed a $5 million lawsuit against the operators of 1st Mariner Arena, alleging the company is illegally using billboards that belong to him.

Citing a soured relationship with city government, Edwin F. Hale Sr., the Baltimore trucking magnate, developer and former CEO of First Mariner Bancorp, said Wednesday that he has moved his businesses to Baltimore County.

A gummy bear endorsement is Flacco's first Super Bowl related endorsement but reviews are mixed on more lucrative endorsement contracts

Current operator SMG is the winning bidder for a new five-year contract to run 1st Mariner Arena and oversee its potential renaming, according to a memo from the city's top purchasing agent.

First Mariner Bancorp announced Friday that it is dropping its agreement with New York investment firm Priam Capital Fund to invest $36.4 million in the Baltimore-based bank holding company, citing improved results.

First Mariner Bancorp reported Wednesday that it earned $7.9 million in the quarter ended in September, the third quarter in a row that the struggling parent of 1st Mariner Bank reported a profit

For the second quarter in a row, Baltimore-based First Mariner Bancorp reported a profit.

First Mariner Bancorp reported Wednesday its first quarterly profit in five years, posting net income of $1.8 million.

TSA displays contraband seized at BWI security checkpoints

First Mariner Bancorp's newly retired chief executive told regulators that he sold just over 1 million shares of company stock this week — for a grand total of $21,084.

Plans to build a Baltimore headquarters for newly combined energy company could change the city's skyline.

Edwin F. Hale Sr., the Baltimore trucking magnate and developer, said Friday that he has retired as chief executive and chairman of First Mariner Bancorp — the banking company he built from scratch and has struggled in the last several years to save from failure.

What happens to once-promising stocks that now sell for little or no money.

First Mariner Bancorp posted a $7.9 million loss in the third quarter as the Baltimore company continued to write down the value of distressed properties.

First Mariner Bancorp said Thursday that it has extended an agreement with New York investment firm, giving the Baltimore bank more time to raise much-needed capital to survive.

The New York investment firm that wants to invest in struggling First Mariner Bancorp said Thursday it was still committed to the deal that would provide much-needed capital for the Baltimore bank.

First Mariner Bancorp's stock has been delisted from Nasdaq Capital Market and shares will begin trading on the Over The Counter Bulletin Board starting Thursday, the Baltimore company said Wednesday.

First Mariner fails to boost stock price as required by Nasdaq

First Mariner Bancorp's bleeding increased during the second quarter as continued write-downs on bad loans left the Baltimore company with $11 million in losses.

First Mariner Bancorp is appealing a Nasdaq Stock Market decision to delist the company's stock from the Nasdaq Capital Market.

Baltimore's First Mariner Bancorp faces the first deadline to raise at least $70.3 million or more than $120 million by September to keep alive a capital deal that would ensure the company's survival.

First Mariner Bancorp's deal with a New York investment firm that would give the Baltimore institution a much-needed cash infusion sets two key deadlines for the company to raise additional capital, according to regulatory filings released Monday.

First Mariner Bancorp Chairman Edwin F. Hale Sr. said the company is continuing to try to raise capital and to work with regulators who have had the largest Baltimore-based bank under heightened scrutiny for nearly two years.

Auditors have raised doubts about First Mariner Bancorp's ability to remain in business, according to financial statements that the largest Baltimore-based bank founded by prominent businessman Edwin F. Hale Sr. filed with regulators late Thursday.