First Mariner Bancorp · Baltimore, MD United States ·(NASDAQ (GM): FMAR)
Company Description
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This link will open in a new window First Mariner Bancorp helps customers navigate banking seas (and fees). It's the holding company for First Mariner Bank, which operates more than two dozen branches along the Baltimore/Washington DC corridor. Targeting individuals and businesses, First Mariner Bank offers standard deposit products such as checking, savings, and money market accounts. Lending activities consist of commercial mortgages (more than 30% of all loans), as well as consumer (20%), residential construction (about 15%), residential mortgage, and business loans. Subsidiary First Mariner Mortgage originates mortgages for sale to secondary markets. First Mariner Bancorp is selling Mariner Finance, which offers consumer loans. To read the full description, subscribe now.
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Key First Mariner Bancorp Financials
| Company Type | Public - NASDAQ (GM): FMAR Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $67.1 |
| 2008 Employees | 975 |
First Mariner Bancorp Executives
20 executives listed for First Mariner Bancorp's Baltimore, MD location.
| Title | Name & Bio | Contact |
| Chairman and CEO, First Mariner Bancorp and First Mariner Bank | Edwin Hale | Network |
| President and COO; EVP and COO, First Mariner Bank | Mark Keidel | Network |
| CFO | Paul Susie | Network |
Competition
Competitive Landscape for First Mariner Bancorp
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top First Mariner Bancorp Competitors
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