Deposits Rise, Non-Performing Assets Stabilize Record Date Set for
Proposed Rights Offering BALTIMORE, Feb. 2 /PRNewswire-FirstCall/
-- 1st Mariner Bancorp (NASDAQ: FMAR), parent company of 1st
Mariner Bank, reported a net loss from continuing operations for
the fourth quarter of 2009 of $3.7 million, or $(0.57) per share,
which represented a 61% improvement over the loss of $9.4 million,
or $(1.46) per share, for the fourth quarter of 2008. For the year
ended December 31, 2009, the Company's net loss from continuing
operations was $13.2 million, compared to $16.8 million, a decrease
of 21%. Including the loss from the sale of the Company's consumer
finance subsidiary "Mariner Finance" in the third quarter of 2009,
the net loss for the full year ended December 31, 2009 totaled
$22.3 million compared to $15.1 million for the full year ended
December 31, 2008. Edwin F. Hale, Sr., 1st Mariner's chairman and
chief executive officer, said, "We continue to execute on our plan
to increase our capital levels. The recent completion of the sale
of Mariner Finance helped boost the Bank's total capital ratio to
9.1% compared to 8.4% at the end of September 2009 and 8.8% at
December 31, 2008. Although the sale impacted earnings, it was a
necessary and beneficial step to increasing the regulatory capital
ratios of 1st Mariner Bank." Mr. Hale added, "We are encouraged by
the stabilization in our asset quality during the year and a
decrease in our loan delinquencies during the final quarter of the
year. We have been focused on resolving prior problem assets and
improving the balance sheet of 1st Mariner. The figures reported
for the fourth quarter reflect that effort." Operating Summary The
net loss for the fourth quarter of 2009 included $4.5 million in
credit-related charges to earnings, including a $3.3 million
provision for loan losses and $1.2 million in expenses related to
foreclosed properties. This represents a 38% decrease in credit
related costs when compared to the fourth quarter of 2008, when the
provision for loan losses was $4.2 million and the expenses on
foreclosed properties was $3.1 million. -- Total revenue for the
4th quarter 2009 was $13.8 million, an increase of $6.8 million
over the 4th quarter of 2008's revenue of $7.0 million. Revenue
totals for 2008 reflected $4.7 million in write-downs on securities
for other than temporary impairments compared to $650 thousand in
the 4th quarter of 2009. Also included in the improvement was lower
interest expense on borrowings and deposits that helped increase
the Company's net interest margin. -- Net interest income increased
$2.0 million in the 4th quarter of 2009 compared to the 4th quarter
of 2008. The net interest margin for the 4th quarter of 2009 was
2.72%, an increase of 60 basis points from 2.12% in the 4th quarter
of 2008. This was the result of a lower cost of funds and higher
investment yields in 2009 when compared to 2008. -- Average earning
assets grew by $56.6 million, or 5.4%, compared with last year's
4th quarter, reflecting growth in portfolio loans and loans held
for sale. -- The provision for loan losses totaled $3.3 million for
the 4th quarter of 2009, a decrease of 21% over the provision of
$4.2 million in the corresponding quarter last year. Net
charge-offs declined $1.3 million to $2.7 million for the 4th
quarter of 2009 from $4.0 million of 4th quarter of 2008. The
allowance for loans losses at the end of the fourth quarter of 2009
was $11.6 million, a decrease of 31% over the prior year's figure
of $16.8 million. The decrease was primarily attributable to the
removal of the allowance for loan losses that was related to
Mariner Finance's loan portfolio. The allowance for loan losses as
a percentage of total loans was 1.31% as of December 31, 2009,
compared to 1.71% as of December 31, 2008. Non-performing assets
remained relatively flat when compared to the fourth quarter of
2008, with $57.8 million in 2008 versus $57.4 million in 2009.
While the non-performing assets and loans 90 or more days past due
have stabilized year to year, there has been an improvement in the
fourth quarter of 2009 when compared to the third quarter of 2009.
Loans 90 days or more past due have decreased 54% from September
30, 2009 to December 31, 2009, moving from $20.2 million to $9.2
million. -- Non-interest income for the fourth quarter of 2009
increased $4.8 million over the same quarter in 2008 mainly due to
lower write-downs of investment securities. -- Non-interest
expenses decreased $1.9 million, or 10%, in the fourth quarter of
2009 when compared to the corresponding period last year. The costs
related to foreclosed properties decreased $1.9 million, or 62%, in
the fourth quarter of 2009 when compared to 2008. Although
non-interest expenses decreased overall, there were significant
increases in FDIC Insurance premiums and professional fees. FDIC
Insurance premiums increased $0.75 million, or 229%, in the fourth
quarter of 2009. Professional fees increased $0.78 million in the
fourth quarter of 2009, and were the result of increased costs
associated with regulatory compliance issues and expenses
associated with the planned capital raise and other strategic
initiatives. Comparing balance sheet data as of December 31, 2009
and 2008, total assets increased to $1.38 billion, 6% over the
prior year's $1.31 billion. -- Total loans outstanding decreased
$87.7 million, or 9%, to $890.9 million as of December 31, 2009.
The decrease is fully attributable to the sale of the assets of
Mariner Finance in 2009, which represents $103.2 million of the
decrease. Excluding the prior Mariner Finance loans, total loans
increased by $14.4 million, primarily in residential mortgages. --
Total deposits grew to $1.15 billion as of December 31, 2009, and
increase of $196.3 million, or 21%, over December 31, 2008's
deposits of $950.2 million. An increase in Certificates of Deposit
was the primary reason for the overall increase in deposits. Total
Certificates of Deposit were $811.4 million as of December 31,
2009, an increase of $200.1 million, or 33%, over December 31
2008's balance of $611.2 million. NOW accounts increased $1.6
million and savings accounts increased $1.8 million. Non-interest
bearing checking accounts decreased $2.6 million and money market
accounts decreased $4.7 million. -- Stockholders' Equity was $26.9
million as of December 31, 2009, resulting in a book value per
share of $4.18, a decrease of $2.95, compared to the book value of
$7.13 at December 31, 2008. Capital Ratios in the 4th quarter of
2009 for First Mariner Bank were as follows: Leverage Ratio = 6.2%;
Tier 1 risk-based ratio = 7.9% Total Capital Ratio = 9.1%. This is
an improvement over the capital ratios as of December 31, 2008
which were: Leverage Ratio = 5.8%; Tier 1 risk-based ratio = 6.8%
Total Capital Ratio = 8.8%. The increase in the capital ratios for
the Bank is attributable to the sale of Mariner Finance and the
recent tax law change allowing companies to carryback their net
operating losses further. Management will continue efforts to
further increase these ratios in the first quarter of 2010. Record
Date For Proposed Rights Offering 1st Mariner Bancorp has set
February 12, 2010 as the record date for its previously disclosed
proposed rights offering of common stock. A registration statement
relating to these securities has been filed with the Securities and
Exchange Commission but has not yet become effective. The
securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. You may
obtain a written prospectus, when available, for the proposed
rights offering meeting the requirements of Section 10 of the
Securities Act of 1933, as amended, by writing to the Company, 1501
S. Clinton Street, Baltimore, Maryland 21224, Attention: Eugene A.
Friedman, Corporate Secretary. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities. Securities may not be sold nor may offers to buy be
accepted prior to the effectiveness of a registration statement,
nor shall there be any sale of the securities in any state in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
state. 1st Mariner Bancorp is a bank holding company with total
assets of $1.38 billion. Its wholly owned banking subsidiary, 1st
Mariner Bank, with total assets of $1.37 billion, operates 24 full
service bank branches in Baltimore, Anne Arundel, Harford, Howard,
Talbot, and Carroll counties in Maryland, the City of Baltimore,
and Shrewsbury, Pennsylvania. 1st Mariner Mortgage, a division of
1st Mariner Bank, operates retail offices in Central Maryland and
the Eastern Shore of Maryland. 1st Mariner Mortgage also operates
direct marketing mortgage operations in Baltimore County. 1st
Mariner Bancorp's common stock is traded on the NASDAQ Global
Market under the symbol "FMAR". 1st Mariner's Website address is
http://www.1stmarinerbancorp.com/, which includes comprehensive
level investor information. In addition to historical information,
this press release contains forward-looking statements that involve
risks and uncertainties, such as statements of the Company's plans
and expectations regarding efficiencies resulting from new programs
and expansion activities, revenue growth, anticipated expenses,
profitability of mortgage banking operations, and other unknown
outcomes. The Company's actual results could differ materially from
management's expectations. Factors that could contribute to those
differences include, but are not limited to, changes in regulations
applicable to the Company's business, successful implementation of
the Company's branch expansion strategy, its concentration in real
estate lending, increased competition, changes in technology,
particularly Internet banking, impact of interest rates,
possibility of economic recession or slowdown (which could impact
credit quality, adequacy of loan loss reserve and loan growth) and
control by and dependency on key personnel, particularly Edwin F.
Hale, Sr., Chairman of the Board of Directors and CEO of the
Company. FINANCIAL HIGHLIGHTS (UNAUDITED) First Mariner Bancorp
(Dollars in thousands, except per share data) For the three months
ended December 31, 2009 2008 $ Change % Change ---- ---- --------
-------- Summary of Earnings: Net interest income $7,674 $5,722
1,952 34% Provision for loan losses 3,300 4,155 (855) -21%
Noninterest income 6,082 1,280 4,802 375% Noninterest expense
16,959 18,842 (1,883) -10% Income before income taxes (6,503)
(15,995) 9,492 -59% Income tax expense (1,335) (6,551) 5,216 -80%
Net loss - Continuing Operations (3,699) (9,444) 5,745 -61%
Discontinued Operations - Mariner Finance (119) 384 (503) -131% Net
income (3,818) (9,060) 5,242 58% Profitability and Productivity:
Return on average assets -1.13% -2.95% - 62% Return on average
equity -48.78% -63.75% - 23% Net interest margin 2.72% 2.12% - 28%
Net overhead ratio 3.03% 4.21% - -28% Efficiency ratio 117.80%
161.97% - -27% Mortgage loan production 278,504 254,345 24,159 9%
Average deposits per branch 47,771 39,593 8,178 21% Per Share Data:
Basic earnings per share - Continuing Operations $(0.57) $(1.46)
0.89 61% Diluted earnings per share - Continuing Operations $(0.57)
$(1.46) 0.89 61% Basic earnings per share - Discontinued Operations
$(0.02) $0.06 (0.08) 131% Diluted earnings per share - Discontinued
Operations $(0.02) $0.06 (0.08) 131% Basic earnings per share
$(0.59) $(1.40) 0.81 58% Diluted earnings per share $(0.59) $(1.40)
0.81 58% Book value per share $4.18 $7.13 (2.95) -41% Number of
shares outstanding 6,452,631 6,452,631 - 0% Average basic number of
shares 6,452,631 6,452,772 (141) 0% Average diluted number of
shares 6,452,631 6,452,772 (141) 0% Summary of Financial Condition:
At Period End: Assets $1,384,552 $1,307,497 77,055 6% Investment
Securities 39,143 52,232 (13,089) -25% Loans 890,951 978,696
(87,745) -9% Deposits 1,146,504 950,233 196,271 21% Borrowings and
repurchase agreements 122,038 220,996 (98,958) -45% Stockholders'
equity 26,987 46,015 (19,028) -41% Average for the period: Assets
$1,339,847 $1,219,288 120,559 10% Investment Securities 40,192
59,373 (19,181) -32% Loans 891,134 862,584 28,550 3% Deposits
1,104,844 945,905 158,939 17% Borrowings and repurchase agreements
196,514 216,613 (20,099) -9% Stockholders' equity 31,055 56,383
(25,328) -45% Capital Ratios: 1st Mariner Bank Leverage 6.2% 5.8% -
7% Tier 1 Capital to risk weighted assets 7.9% 6.8% - 16% Total
Capital to risk weighted assets 9.1% 8.8% - 3% Asset Quality
Statistics and Ratios: Net Chargeoffs 2,714 4,055 (1,341) -33%
Non-performing assets 57,428 57,757 (329) -1% 90 Days or more
delinquent loans 9,224 9,679 (455) -5% Annualized net chargeoffs to
average loans 1.21% 1.87% - -35% Non-performing assets to total
assets 4.15% 4.42% - -6% 90 Days or more delinquent loans to total
loans 1.04% 0.99% - 5% Allowance for loan losses to total loans
1.31% 1.71% - -24% FINANCIAL HIGHLIGHTS (UNAUDITED) First Mariner
Bancorp (Dollars in thousands, except per share data) For the
twelve months ended December 31, 2009 2008 $ Change % Change ----
---- -------- -------- Summary of Earnings: Net interest income
$27,112 $28,441 (1,329) -5% Provision for loan losses 11,660 10,855
805 7% Noninterest income 28,271 17,228 11,043 64% Noninterest
expense 67,834 65,254 2,580 4% Income before income taxes (24,111)
(30,440) 6,329 -21% Income tax expense (10,912) (13,632) 2,720 -20%
Net loss - Continuing Operations (13,199) (16,808) 3,609 -21%
Discontinued Operations - Mariner Finance (9,085) 1,721 (10,806)
-628% Net Loss (22,284) (15,087) (7,197) 48% Profitability and
Productivity: Return on average assets -1.69% -1.16% - -45% Return
on average equity -53.81% -24.37% - -121% Net interest margin 2.43%
2.74% - -11% Net overhead ratio 2.82% 3.29% - -14% Efficiency ratio
117.16% 127.84% - -8% Mortgage loan production 1,663,952 1,385,448
278,504 20% Average deposits per branch 47,771 39,593 8,178 21% Per
Share Data: Basic earnings per share - Continuing Operations
$(2.05) $(2.63) 0.58 -22% Diluted earnings per share - Continuing
Operations $(2.05) $(2.63) 0.58 -22% Basic earnings per share -
Discontinued Operations $(1.41) $0.27 (1.68) -623% Diluted earnings
per share - Discontinued Operations $(1.41) $0.27 (1.68) -623%
Basic earnings per share $(3.45) $(2.36) (1.09) 46% Diluted
earnings per share $(3.45) $(2.36) (1.09) 46% Book value per share
$4.18 $7.13 (2.95) -41% Number of shares outstanding 6,452,631
6,452,631 - 0% Average basic number of shares 6,452,631 6,390,046
62,585 1% Average diluted number of shares 6,452,631 6,390,046
62,585 1% Summary of Financial Condition: At Period End: Assets
$1,384,552 $1,307,497 77,055 6% Trading and available for sale
securities 39,143 52,232 (13,089) -25% Loans 890,951 978,696
(87,745) -9% Deposits 1,146,504 950,233 196,271 21% Borrowings
122,038 220,996 (98,958) -45% Stockholders' equity 26,987 46,015
(19,028) -41% Average for the period: Assets $1,315,891 $1,296,252
19,639 2% Trading and available for sale securities 48,274 75,501
(27,227) -36% Loans 889,345 821,700 67,645 8% Deposits 1,056,179
935,090 121,089 13% Borrowings 213,012 208,096 4,916 2%
Stockholders' equity 41,415 61,916 (20,501) -33% Capital Ratios:
1st Mariner Bank Leverage 6.2% 5.8% - 7% Tier 1 Capital to risk
weighted assets 7.9% 6.8% - 16% Total Capital to risk weighted
assets 9.1% 8.8% - 3% Asset Quality Statistics and Ratios: Net
Chargeoffs 12,166 11,072 1,094 10% Non-performing assets 57,428
57,757 (329) -1% 90 Days or more delinquent loans 9,224 9,679 (455)
-5% Annualized net chargeoffs to average loans 1.37% 1.35% - 1%
Non-performing assets to total assets 4.15% 4.42% - -6% 90 Days or
more delinquent loans to total loans 1.04% 0.99% - 5% Allowance for
loan losses to total loans 1.31% 1.71% - -24% CONSOLIDATED
STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) First Mariner Bancorp
(Dollars in thousands) As of December 31, 2009 2008 $ Change %
Change ---- ---- ---------- -------- Assets: Cash and due from
banks $166,374 $21,045 145,329 691% Interest-bearing deposits 7,329
46,294 (38,965) -84% Available-for-sale investment securities, at
fair value 28,394 39,666 (11,272) -28% Trading Securities 10,749
12,566 (1,817) -14% Loans held for sale 122,085 60,203 61,882 103%
Loans receivable 890,951 978,696 (87,745) -9% Allowance for loan
losses (11,639) (16,776) 5,137 -31% ------- ------- ----- Loans,
net 879,312 961,920 (82,608) -9% Other real estate owned 21,630
18,994 2,636 14% Restricted stock investments, at cost 7,815 7,066
749 11% Property and equipment 44,504 49,964 (5,460) -11% Accrued
interest receivable 4,960 6,335 (1,375) -22% Deferred income taxes
28,214 26,057 2,157 8% Bank owned life insurance 34,773 36,436
(1,663) -5% Prepaid expenses and other assets 28,413 20,951 7,462
36% ------ ------ ----- Total Assets $1,384,552 $1,307,497 77,055
6% ========== ========== ====== Liabilities and Stockholders'
Equity: Liabilities: Deposits $1,146,504 $950,233 196,271 21%
Borrowings 122,038 220,996 (98,958) -45% Junior subordinated
deferrable interest debentures 73,724 73,724 - 0% Accrued expenses
and other liabilities 15,299 16,529 (1,230) -7% ------ ------
------ Total Liabilities 1,357,565 1,261,482 96,083 8%
Stockholders' Equity Common Stock 323 323 - 0% Additional paid-in-
capital 56,771 56,741 30 0% Retained earnings (26,621) (5,485)
(21,136) 385% Accumulated other comprehensive loss (3,486) (5,564)
2,078 -37% ------ ------ ----- Total Stockholders Equity 26,987
46,015 (19,028) -41% ------ ------ ------- Total Liabilities and
Stockholders' Equity $1,384,552 $1,307,497 77,055 6% ==========
========== ====== CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
First Mariner Bancorp (Dollars in thousands) For the three For the
twelve months ended months ended December 31, December 31, 2009
2008 2009 2008 ---- ---- ---- ---- Interest Income: Investments and
interest- bearing deposits $715 $1,067 $3,071 $6,026 Loans 14,358
13,715 56,739 57,299 ------ ------ ------ ------ Total Interest
Income 15,073 14,782 59,810 63,325 Interest Expense: Deposits 5,897
6,371 24,874 24,584 Borrowings and repurchase agreements 1,502
2,689 7,824 10,300 ----- ----- ----- ------ Total Interest Expense
7,399 9,060 32,698 34,884 ----- ----- ------ ------ Net Interest
Income Before Provision for Loan Losses 7,674 5,722 27,112 28,441
Provision for Loan Losses 3,300 4,155 11,660 10,855 ----- -----
------ ------ Net Interest Income After Provision for Loan Losses
4,374 1,567 15,452 17,586 Noninterest Income: Service fees on
deposits 1,269 1,552 5,261 6,319 ATM Fees 772 779 3,072 3,188 Gains
on sales of mortgage loans 2,617 3,044 12,169 6,730 Other mortgage
banking revenue 739 540 3,943 2,680 (Loss)/gain on sales of
investment securities, net (640) (4,631) (2,516) (5,376)
Commissions on sales of nondeposit investment products 117 120 540
816 Income from bank owned life insurance 372 374 1,377 1,505
Income (loss) on trading assets and liabilities 799 (740) 3,038
(814) Other 37 242 1,387 2,180 -- --- ----- ----- Total Noninterest
Income 6,082 1,280 28,271 17,228 Noninterest Expense: Salaries and
employee benefits 6,788 6,472 26,469 27,901 Occupancy 2,165 2,472
8,974 9,369 Furniture, fixtures and equipment 645 857 2,941 3,425
Advertising 184 200 915 922 Data Processing 458 548 1,880 2,149
Professional services 1,447 670 3,866 1,669 Costs of other real
estate owned 1,162 3,071 6,832 5,801 Valuation and secondary
marketing reserves - 93 - 355 FDIC Insurance 1,069 324 3,480 887
Other 3,041 4,135 12,477 12,776 ----- ----- ------ ------ Total
Noninterest Expense 16,959 18,842 67,834 65,254 Income Before
Income Taxes (6,503) (15,995) (24,111) (30,440) Income Tax Benefit
(2,804) (6,551) (10,912) (13,632) ------ ------ ------- ------- Net
Loss From Continuing Operations $(3,699) $(9,444) $(13,199)
$(16,808) ======= ======= ======== ======== Discontinued Operations
- Mariner Finance $(119) $384 $(9,085) $1,721 ===== ==== =======
====== Net Loss $(3,818) $(9,060) $(22,284) $(15,087) =======
======= ======== ======== CONSOLIDATED AVERAGE BALANCES, YIELDS AND
RATES (UNAUDITED) First Mariner Bancorp (Dollars in thousands) For
the three months ended December 31, 2009 2008 Average Yield/
Average Yield/ Balance Rate Balance Rate ------- ---- ------- ----
Assets: Loans Commercial Loans and LOC $78,300 4.05% $80,056 5.68%
Comm/Res Construction 99,896 5.22% 113,357 5.75% Commercial
Mortgages 352,818 6.59% 314,363 6.83% Residential Construction
47,805 6.75% 76,180 4.84% Residential Mortgages 160,984 5.48%
134,349 5.81% Consumer 151,331 4.64% 144,279 5.30% ------- -------
Total Loans 891,134 5.69% 862,584 5.99% Loans held for sale 118,044
5.06% 42,444 5.69% Trading and available for sale securities, at
fair value 40,192 6.62% 59,373 6.38% Interest bearing deposits
52,144 0.27% 81,266 0.50% Restricted stock investments, at cost
7,934 0.77% 7,137 0.99% ----- ----- Total earning assets 1,109,448
5.37% 1,052,804 5.54% Allowance for loan losses (11,557) (11,398)
Cash and other non earning assets 241,956 177,882 ------- -------
Total Assets $1,339,847 $1,219,288 ========== ==========
Liabilities and Stockholders' Equity: Interest bearing deposits NOW
deposits 7,150 0.72% 6,549 0.92% Savings deposits 53,539 0.29%
51,841 0.34% Money market deposits 167,575 0.87% 171,407 1.23% Time
deposits 763,832 2.85% 597,861 3.85% ------- ------- Total interest
bearing deposits 992,096 2.36% 827,658 3.06% Borrowings 196,514
3.03% 216,613 4.94% ------- ------- Total interest bearing
liabilities 1,188,610 2.47% 1,044,271 3.45% Noninterest bearing
demand deposits 112,748 118,247 Other liabilities 7,434 387
Stockholders' Equity 31,055 56,383 ------ ------ Total Liabilities
and Stockholders' Equity $1,339,847 $1,219,288 ==========
========== Net Interest Spread 2.90% 2.09% Net Interest Margin
2.72% 2.12% CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES
(UNAUDITED) First Mariner Bancorp (Dollars in thousands) For the
twelve months ended December 31, 2009 2008 Average Yield/ Average
Yield/ Balance Rate Balance Rate ------- ---- ------- ---- Assets:
Loans Commercial Loans and LOC $87,421 5.05% $79,533 6.01% Comm/Res
Construction 102,097 5.24% 117,539 6.23% Commercial Mortgages
337,803 6.73% 298,864 7.40% Residential Construction 58,498 5.73%
87,831 6.26% Residential Mortgages 152,280 5.87% 104,167 5.92%
Consumer 151,246 4.54% 133,767 5.97% ------- ------- Total Loans
889,345 5.81% 821,700 6.55% Loans held for sale 99,503 5.11% 59,925
5.75% Trading and available for sale securities, at fair value
48,274 6.09% 75,501 5.94% Interest bearing deposits 71,963 0.15%
72,701 1.79% Restricted stock investments, at cost 7,770 0.28%
6,424 3.69% ----- ----- Total earning assets 1,116,855 5.36%
1,036,251 6.11% Allowance for loan losses (11,979) (10,301) Cash
and other non earning assets 211,015 270,302 ------- ------- Total
Assets $1,315,891 $1,296,252 ========== ========== Liabilities and
Stockholders' Equity: Interest bearing deposits NOW deposits 6,784
0.65% 13,249 0.58% Savings deposits 55,122 0.32% 54,898 0.33% Money
market deposits 163,910 0.84% 210,003 1.47% Time deposits 713,855
3.26% 525,700 4.04% ------- ------- Total interest bearing deposits
939,671 2.65% 803,850 3.06% Borrowings 213,012 3.67% 208,096 4.94%
------- ------- Total interest bearing liabilities 1,152,683 2.84%
1,011,946 3.45% Noninterest bearing demand deposits 116,508 131,240
Other liabilities 5,285 91,150 Stockholders' Equity 41,415 61,916
------ ------ Total Liabilities and Stockholders' Equity $1,315,891
$1,296,252 ========== ========== Net Interest Spread 2.52% 2.66%
Net Interest Margin 2.43% 2.74% DATASOURCE: 1st Mariner Bancorp
CONTACT: Mark A. Keidel - EVP/COO, +1-410-558-4281 Web Site:
http://www.1stmarinerbank.com/
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