Financial concerns of consumers

by Kevin Lynch 9. October 2009

We recently participated in a Twitter Town Hall hosted by FinanceWorks/Digital Insight. To see all the tweets from the discussion, simply go to this link:

The discussion centered on a recent survey conducted by Digital Insight asking consumers and small businesses about their financial life. When asked about their most pressing financial concern, consumers were overwhelmingly concerned with living within their means and paying bills. We've seen this trend as well. We've added many new bill pay customers to our online banking platform and more bills are being paid through it then ever before. We think it can be a very effective tool in managing one's finances.

What are the things in your financial life that keep you awake at night? We'd love to hear from you.


New website receives positive reviews

by Kevin Lynch 6. October 2009

1st Mariner's new website was recently recognized by Baltimore Sun reporter Dan Thanh Dang on her blog at as her consumer webiste of the week. She specifically highlights the 7 day a week online chat available on the website. Check out her comments at:


Additional comments about the FDIC Agreement

by Kevin Lynch 22. September 2009

Since the release of the announcement, we've received some inquiries from customers. Here are some of the most common questions.

Q. What have the FDIC and the Maryland Division of Financial Regulation ordered and why?

A. The regulators have directed 1st Mariner Bank to increase its capitalization, improve earnings, reduce non-performing loans, strengthen management policies and practices, and reduce reliance on non-core funding. They have set a timetable extending through June 30, 2010 for the bank to accomplish these goals.

Q. How will this effect me as a customer?

A. This will have no effect on customers. Accounts at 1st Mariner Bank continue to be insured up to $250,000 per depositor by the Federal Deposit Insurance Corporation (FDIC). IRA accounts continue to be separately insured by the FDIC up to $250,000 per depositor. For more information on this program, go to our FDIC Coverage page on the web site.

Q. How can I check to see if I have full deposit insurance on my bank accounts?

A. The FDIC's Electronic Deposit Insurance Estimator (EDIE) is an interactive application that can help you learn about deposit insurance and calculate the insurance coverage of your accounts.

Q. How is 1st Mariner responding to the regulators’ order?

A. Prior to the regulators’ order, 1st Mariner had established a compliance committee made up entirely of independent directors who will oversee and monitor compliance with the order. Also prior to the issuance of the order, 1st Mariner’s Board and management had already taken steps to devise and implement strategies to address the issues noted in the order.

Q. How does 1st Mariner plan to raise capital?

A. The bank plans to increase its capitalization through a combination of capital-raising efforts, which include conventional efforts in public and private markets as well as the sale of assets. We estimate that we will need to raise $10 million by June 30, 2010 to achieve the specified capitalization. We believe that goal is entirely achievable.


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