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By Gus G. Sentementes, The Baltimore Sun | October 7, 2010
Daniel E. McKew, a 19-year veteran of the banking industry and a former SunTrust executive, was named president of Baltimore-based 1st Mariner Bank, the company said Thursday. McKew, a Baltimore native, had most recently been president and chief executive of SunTrust's equipment finance arm in Towson, where he ran a $6.8 billion leasing business. He takes over from George Mantakos, who will remain a director for the bank's holding company, First Mariner Bancorp. Edwin Hale Sr., the bank's founder, remains chairman and chief executive of First Mariner Bancorp, which has been under pressure from bank regulators to raise capital.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 18, 2014
Investors who tried for years to get a stake in 1st Mariner Bank have closed on their purchase of the Baltimore institution. New CEO Jack E. Steil and president Robert D. Kunisch Jr. said Wednesday that the deal was finalized Tuesday night. The purchasing group they're part of, organized under the name "RKJS Bank," paid $18.7 million and agreed to put about $92 million in cash into the bank to recapitalize it. Steil said the new management team spent the first day talking to workers.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 7, 2014
The future of 1st Mariner, Baltimore's largest independent bank, could be decided this week. A bankruptcy judge approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's Chapter 11 bankruptcy filing. Bids for the Baltimore-based bank were due by 4 p.m. Monday. Aside from being sold off, the bank is not included in the bankruptcy, and bank deposits, loans, contracts and other business will not be affected. The bank's parent filed for bankruptcy protection Feb. 10, capping its years-long struggle to get back on solid footing after residential loans soured during the housing bust.
NEWS
By Michael Bodley, The Baltimore Sun | June 10, 2014
First Mariner Bancorp corrected a week-old filing with the Securities and Exchange Commission to say that its stock would continue trading and likely be listed on the over-the-counter "Pink Sheets. " The parent company of 1st Mariner Bank said its June 3 SEC filing was inaccurate in a new filing on Monday. Last week, First Mariner reported to the SEC that its stock would stop trading after the Financial Industry Regulatory Authority warned the company that a failure to file a quarterly report by June 23 would result in the stock being delisted from the OTC Bulletin Board.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 10, 2014
A bankruptcy judge approved First Mariner Bancorp's request to auction off its Baltimore bank quickly, a process that drew heated objections from creditors and the U.S. trustee. Judge David E. Rice set the deadline to bid on 1st Mariner Bank for April 7, with the auction to be held three days later if any bids come through. In an order filed over the weekend, he wrote that the bank's parent company "articulated good and sufficient reasons" for the timing and other procedures. The bank isn't part of the bankruptcy case, and its parent has stressed that bank deposits, contracts and other business will not be affected.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 10, 2014
The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis. A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million. First Mariner Bancorp, the parent company, said it filed for Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to "facilitate the transaction.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 15, 2010
First Mariner Bank needs to raise its capital level by at least $20.9 million to comply with federal regulators, according to regulatory documents filed Monday. Baltimore's largest independent financial institution has been under federal orders to raise its capital levels for over a year. While the bank's parent First Mariner Bancorp raised $25 million since October 2009, the bank fell short of meeting a key capital target by a June 30 deadline imposed by regulators – and still does not meet that goal as of Sept.
NEWS
By Chris Kaltenbach and Jay Hancock and Chris Kaltenbach and Jay Hancock,chris.kaltenbach@baltsun.com and jay.hancock@baltsun.com | March 13, 2009
Senator Theatre owner Tom Kiefaber is "months" behind in loan payments to 1st Mariner Bank, the bank's chairman and chief executive confirmed yesterday. And with federal regulators pressuring the bank to get its own fiscal house in order, officials there had little choice but to call the loan and schedule a foreclosure auction. "The guy's in arrears big-time," Ed Hale said. "He hasn't paid for months." With the likelihood of a mid-April foreclosure auction looming, potential bidders for the Senator, a North Baltimore landmark since 1939, have started to surface.
BUSINESS
February 1, 1999
New positionsSchnitzlein operations VP for Royal FarmsRoyal Farms, the Baltimore-based chain of convenience stores, appointed Albert H. Schnitzlein as vice president of operations.The Towson University graduate formerly was an executive vice president for Hardee's Food System Inc. He began his fast-food industry career in Towson as a counterman with the old Gino's hamburger chain.Comcast names Gordon public affairs directorComcast Cablevision named Jim Gordon, a Towson University graduate, director of government and public affairs for the metropolitan Baltimore area.
NEWS
By Matthew Dolan and Matthew Dolan,SUN STAFF | September 15, 2005
A federal jury in U.S. District Court in Baltimore convicted a 28-year-old Upper Marlboro man yesterday of helping to rob an Anne Arundel County bank in March. DaRen Gadsden was found guilty of bank robbery and aiding and abetting a bank robbery. Prosecutors said Gadsden checked out Sandy Spring Bank and 1st Mariner Bank, both in the 100 block of Jennifer Road in Annapolis, on March 1. Minutes later, Tyrone Mann Jefferson robbed the 1st Mariner Bank by vaulting over the counter and threatening tellers with a black pellet gun. Gadsden waited in his vehicle on the parking lot and was the getaway driver, prosecutors said.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 9, 2014
The investors buying 1st Mariner Bank said Monday that they've received the regulatory approvals they need and expect to close on the deal as soon as next week, turning the page on the Baltimore institution's most tumultuous chapter. The purchasers — who go by the name RKJS Bank — said they will put about $91 million in cash into the bank to recapitalize it, "significantly improving the strength of its balance sheet. " The Federal Deposit Insurance Corp. and Maryland's financial regulation agency both approved the transaction.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 3, 2014
First Mariner Bancorp's days of publicly traded stock are coming to an end. The Baltimore-based company said in a U.S. Securities and Exchange Commission filing Monday that it expects its stock will be delisted from the OTC Bulletin Board as soon as June 24, "at which point the Company anticipates that there no longer will be a trading market for the Common Stock. " First Mariner - which filed for bankruptcy protection in February and auctioned off 1st Mariner Bank to an investor group - said the Financial Industry Regulatory Authority warned that its stock would be removed from listing if it does not file a quarterly financial report by June 23. First Mariner says it doesn't intend to make that filing.
NEWS
By Colin Campbell and Jamie Smith Hopkins, The Baltimore Sun | April 19, 2014
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. Two groups bid for 1st Mariner Bank in an April 10 auction, held because its parent company is in bankruptcy protection. The parent, First Mariner Bancorp, initially named Pennsylvania-based National Penn Bank the winner, saying its advisers and creditors considered that bidder more likely to get quick regulatory approval.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 15, 2014
In a surprising reversal, last week's losing bidder for 1st Mariner Bank got approval Tuesday to buy it — preserving the city's largest independent bank as a Baltimore-based institution. The group of investors, a mix of locals and out-of-state investment firms led by Priam Capital of New York, won over creditors with a last-minute offer to sweeten their deal. They agreed to pay about $17.7 million, $3 million of that up front as a deposit. That bid was roughly $4 million more than the value of competitor National Penn Bank's best offer.
BUSINESS
By Kevin Rector, The Baltimore Sun | April 12, 2014
A regional Pennsylvania bank submitted the highest bid at the auction for Baltimore's 1st Mariner Bank in a deal that must still be approved by a federal bankruptcy court judge and banking regulators. National Penn Bank offered $19.1 million for 1st Mariner at Thursday's auction, topping a competing bid from a group with local ties led by New York-based Priam Capital LLC, according to a filing in the bankruptcy of bank parent First Mariner Bancorp. A hearing is scheduled for Monday in Baltimore's U.S. Bankruptcy Court for a judge to rule on the outcome of the auction after hearing any potential objections from creditors of First Mariner.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 7, 2014
The future of 1st Mariner, Baltimore's largest independent bank, could be decided this week. A bankruptcy judge approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's Chapter 11 bankruptcy filing. Bids for the Baltimore-based bank were due by 4 p.m. Monday. Aside from being sold off, the bank is not included in the bankruptcy, and bank deposits, loans, contracts and other business will not be affected. The bank's parent filed for bankruptcy protection Feb. 10, capping its years-long struggle to get back on solid footing after residential loans soured during the housing bust.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 8, 2011
Former 1st Mariner Bank executive Daniel McKew has landed a job at Baltimore's CFG Community Bank. CFG Community announced Tuesday that McKew will become its president. McKew left 1st Mariner after a year as its president. Previously, McKew served as chief executive of SunTrust Equipment Finance & Leasing Corp. in Towson. CFG Community Bank and its holding company, Capital Funding Bancorp, are operating under a consent order with state and federal bank regulators to shore up their corporate governance and management review processes.
BUSINESS
The Baltimore Sun | April 1, 2014
First Mariner Bancorp's losses mounted last year before the parent of 1 s t Mariner Bank filed for bankruptcy protection in February. The bank itself is not included in the Chapter 11 bankruptcy, and its Baltimore-based parent has stressed that bank deposits, contracts and other business will not be affected. However, the bank will be auctioned off as part of the bankruptcy reorganization. First Mariner lost $19.1 million in 2013, a big swing from the $16.1 million profit it earned in 2012, as its vibrant mortgage origination business dwindled as interest rates rose last year, according to its annual 10-K filing with the Securities and Exchange Commission.
BUSINESS
The Baltimore Sun | April 1, 2014
First Mariner Bancorp's losses mounted last year before the parent of 1 s t Mariner Bank filed for bankruptcy protection in February. The bank itself is not included in the Chapter 11 bankruptcy, and its Baltimore-based parent has stressed that bank deposits, contracts and other business will not be affected. However, the bank will be auctioned off as part of the bankruptcy reorganization. First Mariner lost $19.1 million in 2013, a big swing from the $16.1 million profit it earned in 2012, as its vibrant mortgage origination business dwindled as interest rates rose last year, according to its annual 10-K filing with the Securities and Exchange Commission.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 10, 2014
A bankruptcy judge approved First Mariner Bancorp's request to auction off its Baltimore bank quickly, a process that drew heated objections from creditors and the U.S. trustee. Judge David E. Rice set the deadline to bid on 1st Mariner Bank for April 7, with the auction to be held three days later if any bids come through. In an order filed over the weekend, he wrote that the bank's parent company "articulated good and sufficient reasons" for the timing and other procedures. The bank isn't part of the bankruptcy case, and its parent has stressed that bank deposits, contracts and other business will not be affected.
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