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First Mariner Bancorp Inc. in Baltimore said that its fourth-quarter loss narrowed slightly from a year earlier.
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First Mariner Bancorp reported a loss of $11 million in the second quarter, plunging the ailing Baltimore company deeper into a capital hole.
July 29
First Mariner Bancorp Inc. in Baltimore is looking to grow its mortgage business even as it continues to deal with elevated levels of loan losses and a shrinking balance sheet.
First Mariner Mortgage will hire roughly 50 people this year as it looks to expand its mortgage operations in the Washington, D.C., and Baltimore areas, the Baltimore Business Journal
Since 2007, the $1.2 billion-asset company has lost roughly $124 million due in part to a souring portfolio of alternative-A mortgages, home equity lines and construction loans. First Mariner
How well First Mariner will be able to grow the mortgage business could depend on its ability to raise fresh capital. An investment group has agreed to commit $36.4 million if First Mariner is