1st Mariner Closing Its Downtown Branch

Employees Expected To Be Moved To Other Locations

November 26, 2009|By Hanah Cho | Hanah Cho,Hanah.cho@baltsun.com

1st Mariner Bank is closing its downtown Baltimore branch on Feb. 15, a result of the bank's periodic review of its branch network.

Executive Vice President Dennis Finnegan said Wednesday that the bank picks locations based on a "high potential for success and [establishes] a certain threshold for deposit growth and customer service." The most recent review examined whether branches were performing and meeting expectations, Finnegan said.

Finnegan did not know how many employees work at the 300 N. Charles St. location but said the bank's practice is to place them at other branches with job openings.

"These are quality people and if we can find a way to situate them, we certainly do," he said.

1st Mariner sent letters to its customers last week, informing them of the branch's closure. The nearest branch is in Canton. The bank has 24 branches in the Baltimore region.

The bank is operating under intense federal scrutiny to raise its capital and deal with problem real estate loans.

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