1st MARINER REPORTS 3rd Quarter 2009 results

Assets, deposits, and revenue rise as asset quality begins to improve Non-performing assets decline compared with 2nd quarter 2009


BALTIMORE, Oct. 30  /PRNewswire-FirstCall/ -- 1st Mariner Bancorp (NASDAQ: FMAR), parent company of 1st Mariner Bank, reported today a net loss for the third quarter of 2009 totaling $12.956 million or -$2.01 per share. Primarily due to the previously announced agreement to sell Mariner Finance, a wholly owned subsidiary, which totaled $10.584 million.  The proceeds of this sale will be utilized in the recapitalization plan for Bancorp's primary subsidiary, 1st Mariner Bank. While the sale of Mariner Finance is anticipated to close in the fourth quarter, accounting rules require the company to record an impairment charge as of September 30, 2009 to reduce the carrying amount of its investment in Mariner Finance to the amount expected to be paid at closing.  Effective with the third quarter of 2009, the Company's current and previous income statements will be adjusted to reflect the results of operations of Mariner Finance as "discontinued operations" in accordance with Generally Accepted Accounting Principles.

First Mariner's loss from continuing operations totaled $3.146 million for the third quarter, of 2009 or $-.49 per share, compared to a loss of $2.780 million on the third quarter of 2008.  The third quarter of 2009 reflected strong revenue from mortgage banking operations, higher costs for problem loans and increased expense for deposit insurance.

Edwin F. Hale, Sr., 1st Mariner's chairman and chief executive officer, said, "While the sale of Mariner Finance negatively impacted our third quarter results, the proceeds to be generated from the sale are expected to provide a key step to increasing regulatory capital ratios of First Mariner Bank, and move us significantly closer to achieving compliance with our target capital levels.  As we move into the fourth quarter we are identifying additional sources of capital, both internal and external, to fully comply with regulatory capital requirements."

Mr. Hale continued "We experienced some improvement in asset quality in the quarter as our nonperforming assets, and loans past due 90 days or more declined from $79.332 million at June 30, 2009 to $74.516 million.  Nonperforming asset levels have declined for two consecutive quarters. We are completely focused on bringing the company back to profitability and shedding problem assets."

Operating Summary

The net loss for the third quarter of 2009 included $3.774 million credit-related charges to earnings, including a $2.100 million provision for loan losses, and $1.674 million in expenses related to foreclosed properties. Additionally, there was a one-time charge of $10.584 million related to the planned sale of Mariner Finance. As noted above, all current and previous comparative income statement results will be adjusted to exclude in the various income statement revenues and expenses of Mariner Finance and consolidate these results into one line item titled "Discontinued Operations"

  --  Total revenue for the 3rd quarter 2009 was $13.677 million, an
      increase of $1.278 million, or 10.32%, over the 3rd quarter of 2008.
      This increase was driven primarily by higher mortgage banking revenue.


  --  Net interest margin for the 3rd quarter of 2009 was 2.30% a decrease
      of 42 basis points from 2.72% in the 3rd quarter of 2008. The decline
      reflects an increase in average interest bearing deposits of $171.330
      million, or 21.2%, and a decrease in average non-interest bearing
      deposits of $12.048 million, or 9.2%, and a higher level of
      non-performing assets compared to the same quarter last year.


  --  Average earning assets grew by $112.009 million, or 10.8%, compared
      with last year's 3rd quarter, reflecting growth in portfolio loans,
      loans held for sale, and interest bearing deposits.


  --  The provision for loan losses totaled $2.100 million for the 3rd
      quarter of 2009, a decrease of 5% from the provision of $2.200 million
      in the corresponding quarter last year.   The allowance for loans
      losses in the third quarter was $11.054 million, a decrease of 27%
      over the prior year's figure of $15.195 million. The decrease was
      primarily attributable to the exclusion of the $4.935 million
      allowance for loan losses related to Mariner Finance's loan portfolio.
      As a percentage of total loans outstanding, the allowance was 1.23% as
      of September 30, 2009, and 1.62% as of September 30, 2008.
      Non-performing assets and loans past due 90 days or more totaled
      $79.322 million at June 30, 2009 and $74.516 million at September 30,
      2009.  This is reflective of improvements in asset quality, the
      resolution of troubled loans, and sales of the other real estate
      owned.


  --  Non-interest income increased by $1.747 million, or 34%, for the 3rd
      quarter of 2009 primarily due to higher mortgage banking volume and
      revenues. Service charges and ATM fees decreased $306 thousand when
      compared to September 30, 2008. Income from trading assets and
      borrowings increased by $875 thousand, primarily resulting from gains
      on improved valuations of liabilities held at fair value.


  --  Non-interest expenses increased $2.492 million, or 16%, in the 3rd
      quarter of 2009 when compared to the corresponding period last year. 
      Expenses incurred for the write-down or sales of foreclosed properties
      increased by $642 thousand, with $1.674 being incurred in the 3rd
      quarter of 2009, versus $1.032 million in the same period of 2008. 
      Professional services fees, including legal fees incurred as a result
      of loan work outs and foreclosed property sales and the sale of Next
      Generation Financial Services, were $961 thousand for the 3rd quarter,
      an increase of $707 thousand when compared with the 3rd quarter of
      2008. Salary and benefits increased due to higher mortgage origination
      incentives.



Comparing balance sheet data as of September 30, 2009 and 2008, total assets increased to $1.410 billion, 11% over the prior year's $1.276 billion.

  --  Total loans outstanding were $900 million as of September 30, 2009, a
      decrease of $40 million, or 4%, when compared with the 3rd quarter of
      2008. The decrease is attributable to the exclusion of the assets of
      Mariner Finance in 2009, which are now classified as assets held for
      sale. Residential mortgage loans grew by $37.900 million, while
      residential construction loans declined by $38.561 million. The
      commercial loan portfolio increased by $41.357 million, or 8%,
      quarter-to-quarter primarily as a result of a decrease in commercial
      loan payoffs.


  --  Total deposits grew to $1.078 billion as of September 30, 2009,
      compared with $910 million in the year earlier quarter. Certificates
      of deposit were the primary leader in the overall increase in
      deposits, growing 33% to $733 million as of September 30, 2009.
      Non-interest bearing checking accounts decreased $1.3 million, NOW
      accounts declined $3.2 million, and money market accounts decreased
      $10.7 million.


  --  Stockholders' Equity was $29.435 million as of September 30, 2009,
      resulting in a book value per share of $4.56, a decrease of $4.25,
      compared with a book value of $8.81 at September 30, 2008. Capital
      Ratios at September 30, 2009 for First Mariner Bank were as follows:
      Leverage Ratio = 5.4%; Tier 1 risk-based ratio = 6.7% Total Capital
      Ratio = 8.4%.  Management expects these ratios to be positively
      impacted in the fourth quarter by the proceeds to be received from the
      sale of Mariner Finance will be contributed to First Mariner Bank
      simultaneously with the close.  As of September 30, 2009 capital
      ratios for 1st Mariner Bank continue to exceed minimum requirement
      levels under current regulatory definitions.



1st Mariner Bancorp is a bank holding company with total assets of $1.410 billion.  Its wholly owned banking subsidiary, 1st Mariner Bank, with total assets of $1.293 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.  Mariner Finance, LLC, with total assets $109 million, is a consumer finance subsidiary that currently operates branches in Maryland, Delaware, Virginia, New Jersey, and Tennessee.  1st Mariner Bancorp's common stock is traded on the NASDAQ National Market under the symbol "FMAR".  1st Mariner's Web site 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, 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)

                                    As of or for the three months ended
                                               September 30,

                                      2009        2008  $ Change  % Change
                                      ----        ----  --------  --------
  Summary of Earnings:
    Net interest income             $6,738      $7,207      (469)       -7%
    Provision for loan losses        2,100       2,200      (100)       -5%
    Noninterest income               6,939       5,192     1,747        34%
    Noninterest expense             18,016      15,524     2,492        16%
    Loss before income taxes        (6,439)     (5,325)   (1,114)       21%
    Income tax benefit              (3,293)     (2,545)     (748)       29%
    Net loss -
     Continuing
     Operations                     (3,146)     (2,780)     (366)      -13%
    Discontinued
     Operations - Mariner
     Finance (1)                    (9,810)        499   (10,309)    -2066%
    Net Loss                       (12,956)     (2,281)  (10,675)     -468%

  Profitability
   and
   Productivity:
    Return on average assets         -3.56%      -0.76%        -      -371%
    Return on average equity       -121.29%     -21.36%        -      -468%
    Net interest margin               2.30%       2.72%        -       -15%
    Net overhead ratio                3.06%       3.94%        -       -22%
    Efficiency ratio                131.04%     118.11%        -        11%
    Mortgage loan production       305,928     295,573    10,355         4%
    Average
     deposits per
     branch                         44,974      36,391     8,584        24%

  Per Share Data:
    Basic earnings per share
     - Continuing Operations        $(0.49)     $(0.44)    (0.05)      -12%
    Diluted earnings per
     share - Continuing
     Operations                     $(0.49)     $(0.44)    (0.05)      -12%
    Basic earnings per share -
      Discontinued Operations       $(1.52)      $0.08     (1.60)    -2046%
    Diluted earnings per share
     - Discontinued Operations      $(1.52)      $0.08     (1.60)    -2046%
    Basic earnings per share        $(2.01)     $(0.36)    (1.65)     -462%
    Diluted
     earnings per
     share                          $(2.01)     $(0.36)    (1.65)     -462%
    Book value per share             $4.56       $8.81     (4.25)      -48%
    Number of
     shares
     outstanding                 6,452,631   6,452,775      (144)        0%
    Average basic
     number of
     shares                      6,452,631   6,388,109    64,522         1%
    Average diluted
     number of shares            6,452,631   6,388,109    64,522         1%

  Summary of
   Financial
   Condition:
    At Period End:
    Assets                      $1,410,427  $1,276,336   134,091        11%
    Investment Securities           41,805      60,895   (19,090)      -31%
    Loans                          899,627     939,592   (39,965)       -4%
    Deposits                     1,079,379     909,764   169,615        19%
    Borrowings and
     repurchase
     agreements                    123,795     224,762  (100,967)      -45%
    Stockholders' equity            29,435      56,831   (27,396)      -48%

    Average for the period:
    Assets                      $1,442,088  $1,196,429   245,659        21%
    Investment Securities           50,975      79,882   (28,907)      -36%
    Loans                          888,658     840,616    48,042         6%
    Deposits                     1,098,333     939,051   159,282        17%
    Borrowings and
     repurchase
     agreements                    208,944     209,169      (225)        0%
    Stockholders' equity            42,378      42,366        12         0%

  Capital Ratios At Period
   End: First Mariner Bank
    Leverage                           5.4%        6.3%        -       -14%
    Tier 1 Capital to
     risk weighted
     assets                            6.7%        7.4%        -        -9%
    Total Capital to
     risk weighted
     assets                            8.4%       13.3%        -       -37%

  Asset Quality
   Statistics and
   Ratios:
    Net Chargeoffs                   2,576       2,446       130         5%
    Non-performing assets           54,357      55,702    (1,345)       -2%
    90 Days or more
     delinquent loans               20,159      11,643     8,516        73%
    Annualized net
     chargeoffs to
     average loans                    1.16%       1.16%        -         0%
    Non-performing
     assets to total
     assets                           3.85%       4.36%        -       -12%
    90 Days or more
     delinquent loans to
     total loans                      2.24%       1.24%        -        81%
    Allowance for loan
     losses to total
     loans                            1.23%       1.62%        -       -24%

    (1) All results of operations related to Mariner Finance are presented
        separately as Discontinued Operations above.



  FINANCIAL HIGHLIGHTS (UNAUDITED)
  First Mariner Bancorp
  (Dollars in thousands, except per share data)

                                    As of or for the nine months ended
                                               September 30,

                                      2009        2008  $ Change  % Change
                                      ----        ----  --------  --------
  Summary of Earnings:
    Net interest income            $19,438     $22,719    (3,281)      -14%
    Provision for loan losses        8,360       6,700     1,660        25%
    Noninterest income              22,189      15,948     6,241        39%
    Noninterest expense             50,875      46,413     4,462        10%
    Loss before income taxes       (17,608)    (14,446)   (3,162)       22%
    Income tax benefit              (8,108)     (7,081)   (1,027)       15%
    Net loss -
     Continuing
     Operations                     (9,500)     (7,365)   (2,135)       29%
    Discontinued
     Operations - Mariner
     Finance (1)                    (8,966)      1,337   (10,303)     -771%
    Net Loss                       (18,466)     (6,028)  (12,438)      206%


  Profitability
   and
   Productivity:
    Return on average assets         -1.77%      -0.68%        -      -161%
    Return on average equity        -53.82%     -17.25%        -      -212%
    Net interest margin               2.24%       2.90%        -       -23%
    Net overhead ratio                2.58%       3.37%        -       -24%
    Efficiency ratio                116.95%     117.76%        -        -1%
    Mortgage loan production     1,385,448   1,072,783   312,665        29%
    Average
     deposits per
     branch                         44,974      36,391     8,584        24%

  Per Share Data:
    Basic earnings per share
     - Continuing Operations        $(1.47)     $(1.16)    (0.32)      -27%
    Diluted earnings per
     share - Continuing
     Operations                     $(1.47)     $(1.16)    (0.32)      -27%
    Basic earnings per share -
      Discontinued Operations       $(1.39)      $0.21     (1.60)     -762%
    Diluted earnings per share
     - Discontinued Operations      $(1.39)      $0.21     (1.60)     -762%
    Basic earnings per share        $(2.86)     $(0.95)    (1.92)     -202%
    Diluted
     earnings per
     share                          $(2.86)     $(0.95)    (1.92)     -202%
    Book value per share             $4.56       $8.81     (4.25)      -48%
    Number of
     shares
     outstanding                 6,452,631   6,452,775      (144)        0%
    Average basic
     number of
     shares                      6,452,631   6,368,985    83,646         1%
    Average diluted
     number of shares            6,452,631   6,368,985    83,646         1%

  Summary of
   Financial
   Condition:
    At Period End:
    Assets                      $1,410,427  $1,276,336   134,091        11%
    Trading and
     available for sale
     securities                     41,805      60,895   (19,090)      -31%
    Loans                          899,627     939,592   (39,965)       -4%
    Deposits                     1,079,379     909,764   169,615        19%
    Borrowings                     123,795     224,762  (100,967)      -45%
    Stockholders' equity            29,435      56,831   (27,396)      -48%

    Average for the period:
    Assets                      $1,391,780  $1,187,265   204,515        17%
    Trading and
     available for sale
     securities                     50,998      80,756   (29,758)      -37%
    Loans                          884,771     804,975    79,796        10%
    Deposits                     1,038,648     928,575   110,073        12%
    Borrowings                     214,600     205,098     9,502         5%
    Stockholders' equity            45,871      46,678      (807)       -2%

  Capital Ratios At Period
   End: First Mariner Bank
    Leverage                           5.4%        6.3%        -       -14%
    Tier 1 Capital to
     risk weighted
     assets                            6.7%        7.4%        -        -9%
    Total Capital to
     risk weighted
     assets                            8.4%       13.3%        -       -37%

  Asset Quality
   Statistics and
   Ratios:
    Net Chargeoffs                   9,451       7,019     2,432        35%
    Non-performing assets           54,357      55,702    (1,345)       -2%
    90 Days or more
     delinquent loans               20,159      11,643     8,516        73%
    Annualized net
     chargeoffs to
     average loans                    1.43%       1.16%        -        23%
    Non-performing
     assets to total
     assets                           3.85%       4.36%        -       -12%
    90 Days or more
     delinquent loans to
     total loans                      2.24%       1.24%        -        81%
    Allowance for loan
     losses to total
     loans                            1.23%       1.62%        -       -24%

  (1) All results of operations related to Mariner Finance are presented
      separately as Discontinued Operations above.



  CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)
  First Mariner Bancorp
  (Dollars in thousands)
                                        As of September 30,

                                 2009        2008   $ Change   % Change
                                 ----        ----  ----------  --------
  Assets:
    Cash and due from
     banks                    $45,079     $25,241      19,838        79%
    Interest-bearing
     deposits                  55,087      50,310       4,777         9%
    Available-for-sale
     investment
     securities, at fair
     value                     30,526      48,701     (18,175)      -37%
    Trading Securities         11,279      12,194        (915)       -8%
    Loans held for sale       102,569      58,785      43,784        74%
    Loans receivable          899,627     939,592     (39,965)       -4%
    Allowance for loan
     losses                   (11,054)    (15,195)      4,141       -27%
                              -------     -------       -----
    Loans, net                888,573     924,397     (35,824)       -4%
    Other real estate
     owned                     24,703      16,466       8,237        50%
    Restricted stock
     investments, at
     cost                       7,934       7,516         418         6%
    Property and
     equipment                 45,419      50,822      (5,403)      -11%
    Accrued interest
     receivable                 5,188       6,783      (1,595)      -24%
    Deferred income taxes      22,542      14,278       8,264        58%
    Bank owned life
     insurance                 34,402      36,062      (1,660)       -5%
    Assets Held For
     Sale -Mariner
     Finance (1)              101,048           -     101,048       N/A
    Prepaid expenses
     and other assets          36,078      24,781      11,297        46%
                               ------      ------      ------
  Total Assets             $1,410,427  $1,276,336     134,091        11%
                           ==========  ==========     =======

  Liabilities and
   Stockholders'
   Equity:
  Liabilities:
    Deposits               $1,079,379    $909,764     169,615        19%
    Borrowings                123,795     224,762    (100,967)      -45%
    Junior subordinated
     deferrable interest
     debentures                73,724      73,724           -         0%
    Liabilities related
     to assets held for
     sale (1)                  90,076           -      90,076       100%
    Accrued expenses
     and other
     liabilities               14,018      11,255       2,763        25%
                               ------      ------       -----
  Total Liabilities         1,380,992   1,219,505     161,487        13%

  Stockholders'
   Equity
    Common Stock                  323         323           -         0%
    Additional paid-in-
     capital                   56,770      56,731          39         0%
    Retained earnings         (22,803)      3,575     (26,378)     -738%
    Accumulated other
     comprehensive loss        (4,855)     (3,798)     (1,057)       28%
                               ------      ------      ------
  Total Stockholders
   Equity                      29,435      56,831     (27,396)      -48%
                               ------      ------     -------
  Total Liabilities
   and
   Stockholders'
   Equity                  $1,410,427  $1,276,336     134,091        11%
                           ==========  ==========     =======

    (1) All assets and liabilities of Mariner Finance are classified
        separately in 2009 as assets and liabilities held for sale.



  CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
  First Mariner Bancorp
                                  For the three       For the nine
  (Dollars in thousands)              months             months
                                 ended September    ended September
                                       30,                30,
                                   2009     2008      2009     2008
                                   ----     ----      ----     ----
  Interest Income:
    Investments and
     interest-bearing
     deposits                      $776   $1,590    $2,356   $4,959
    Loans                        14,229   14,138    42,381   43,584
                                 ------   ------    ------   ------
  Total Interest Income          15,005   15,728    44,737   48,543

  Interest Expense:
    Deposits                      6,289    6,038    18,977   18,213
    Borrowings and
     repurchase
     agreements                   1,978    2,483     6,322    7,611
                                  -----    -----     -----    -----
  Total Interest Expense          8,267    8,521    25,299   25,824
                                  -----    -----    ------   ------

  Net Interest Income Before
   Provision for Loan Losses      6,738    7,207    19,438   22,719

  Provision for Loan Losses       2,100    2,200     8,360    6,700
                                  -----    -----     -----    -----

  Net Interest Income After
   Provision for Loan Losses      4,638    5,007    11,078   16,019

  Noninterest Income:
    Service fees on deposits      1,353    1,644     3,992    4,767
    ATM Fees                        789      804     2,300    2,409
    Gains on sales
     of mortgage
     loans                        2,728    1,922     9,552    3,686
    Other mortgage
     banking revenue                715      502     3,204    2,140
    (Loss)/gain on sales of
     investment securities,
     net                            (71)    (745)   (1,876)    (745)
    Commissions on sales of
     nondeposit investment
     products                       156      181       423      696
    Commissions on sales of
     other insurance products         -        -         -        -
    Income from bank
     owned life
     insurance                      333      385     1,005    1,131
    Income (loss) on trading
     assets and liabilities         801      (74)    2,239      (74)
    Other                           135      573     1,350    1,938
                                    ---      ---     -----    -----
  Total Noninterest Income        6,939    5,192    22,189   15,948

  Noninterest Expense:
    Salaries and
     employee
     benefits                     7,543    7,039    19,681   21,429
    Occupancy                     2,219    2,375     6,809    6,897
    Furniture,
     fixtures and
     equipment                      685      856     2,296    2,568
    Advertising                     140      134       731      722
    Data Processing                 450      538     1,422    1,601
    Professional services           961      254     2,419      999
    Costs of other
     real estate
     owned                        1,674    1,032     5,670    2,730
    Valuation and
     secondary marketing
     reserves                         -       28         -      262
    FDIC Insurance                  903      191     2,411      563
    Other                         3,441    3,077     9,436    8,642
                                  -----    -----     -----    -----
  Total Noninterest Expense      18,016   15,524    50,875   46,413

  Loss Before Income Taxes       (6,439)  (5,325)  (17,608) (14,446)

  Income Tax Benefit             (3,293)  (2,545)   (8,108)  (7,081)
                                 ------   ------    ------   ------

  Net Loss From
   Continuing
   Operations                   $(3,146) $(2,780)  $(9,500) $(7,365)
                                -------  -------   -------  -------

  Discontinued
   Operations - Mariner
   Finance (1)                  $(9,810)    $499   $(8,966)  $1,337
                                -------     ----   -------   ------

  Net Loss                     $(12,956) $(2,281) $(18,466) $(6,028)
                               ========  =======  ========  =======

    (1) All results of operations related to Mariner Finance are presented
        separately as Discontinued Operations above.



  CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (UNAUDITED)
  First Mariner Bancorp
  (Dollars in thousands)
                                For the three months ended September
                                                 30,

                                        2009                2008
                                  Average  Yield/     Average  Yield/
                                  Balance    Rate     Balance    Rate
                                  -------    ----     -------    ----
  Assets:
    Loans
    Commercial Loans and LOC      $84,166    5.44%    $78,616    5.45%
    Comm/Res Construction          99,866    5.21%    114,498    5.40%
    Commercial Mortgages          343,483    6.54%    316,848    7.26%
    Residential Constr - Cons      54,823    6.04%     90,749    5.52%
    Residential Mortgages         155,257    5.94%    103,351    6.05%
    Consumer                      151,063    4.59%    136,554    5.90%
                                  -------             -------
    Total Loans                   888,658    5.82%    840,616    6.28%

    Loans held for sale            85,568    5.16%     47,649    6.21%
    Trading and available for
     sale securities, at fair
     value                         50,975    5.66%     79,882    6.24%
    Interest bearing deposits     117,878    0.11%     64,302    1.85%
    Restricted stock
     investments, at
     cost                           7,934    1.18%      6,555    2.88%
                                    -----               -----

    Total earning assets        1,151,013    5.15%  1,039,004    5.98%

    Allowance for loan losses     (11,720)            (10,527)
    Cash and other
     non earning
     assets                       302,795             167,952
                                  -------             -------

  Total Assets                 $1,442,088          $1,196,429
                               ==========          ==========

  Liabilities and
   Stockholders'
   Equity:
    Interest bearing deposits
    NOW deposits                    6,471    0.61%     13,683    0.69%
    Savings deposits               56,570    0.32%     56,100    0.33%
    Money market deposits         170,445    0.86%    190,849    1.29%
    Time deposits                 746,575    3.12%    548,098    3.88%
                                  -------             -------
    Total interest
     bearing deposits             980,060    2.55%    808,730    2.97%

    Borrowings                    208,944    3.76%    209,169    4.72%
                                  -------             -------

    Total interest
     bearing
     liabilities                1,189,004    2.76%  1,017,899    3.33%

    Noninterest
     bearing demand
     deposits                     118,273             130,321
    Other liabilities              92,433               5,843
    Stockholders' Equity           42,378              42,366
                                   ------              ------

  Total Liabilities and
   Stockholders' Equity        $1,442,088          $1,196,429
                               ==========          ==========

  Net Interest Spread                        2.39%               2.65%

  Net Interest Margin                        2.30%               2.72%



  CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (UNAUDITED)
  First Mariner Bancorp
  (Dollars in thousands)
                               For the nine months ended September 30,

                                       2009                2008
                                  Average  Yield/     Average  Yield/
                                  Balance    Rate     Balance    Rate
                                  -------    ----     -------    ----
  Assets:
    Loans
    Commercial Loans and LOC      $86,525    5.49%    $79,067    6.01%
    Comm/Res Construction         102,838    5.16%    118,514    6.27%
    Commercial Mortgages          332,743    6.66%    292,569    7.46%
    Residential Constr - Cons      62,101    5.47%     91,423    6.68%
    Residential Mortgages         149,347    5.92%     93,653    6.00%
    Consumer                      151,217    4.47%    129,749    6.23%
                                  -------             -------
    Total Loans                   884,771    5.79%    804,975    6.69%

    Loans held for sale            93,255    5.13%     65,576    5.78%
    Trading and available for
     sale securities, at fair
     value                         50,998    5.95%     80,756    5.84%
    Interest bearing deposits      78,641    0.12%     69,559    2.30%
    Restricted stock
     investments, at cost           7,714    0.11%      6,161    4.75%
                                    -----               -----

    Total earning assets        1,115,379    5.30%  1,027,027    6.25%

    Allowance for loan losses     (12,121)             (9,888)
    Cash and other non
     earning assets               288,522             170,126
                                  -------             -------

  Total Assets                 $1,391,780          $1,187,265
                               ==========          ==========

  Liabilities and
   Stockholders'
   Equity:
    Interest bearing deposits
    NOW deposits                    6,661    0.64%     15,450    0.53%
    Savings deposits               55,656    0.34%     55,724    0.33%
    Money market deposits         162,675    0.84%    222,195    1.54%
    Time deposits                 697,013    3.45%    499,553    4.13%
                                  -------             -------
    Total interest
     bearing deposits             922,005    2.78%    792,922    3.07%

    Borrowings                    214,600    3.98%    205,098    4.96%
                                  -------             -------

    Total interest
     bearing liabilities        1,136,605    3.01%    998,020    3.46%

    Noninterest bearing
     demand deposits              116,643             135,653
    Other liabilities              92,661               6,914
    Stockholders' Equity           45,871              46,678
                                   ------              ------

  Total Liabilities and
   Stockholders' Equity        $1,391,780          $1,187,265
                               ==========          ==========

  Net
   Interest
   Spread                                    2.29%               2.79%

  Net
   Interest
   Margin                                    2.24%               2.90%


DATASOURCE: 1st Mariner Bancorp



CONTACT:  Mark A. Keidel - EVP/COO, [phone]



Web Site:  http://www.1stmarinerbank.com/ 

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