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Article: First Mariner Reports Strong Growth and Increased Profits For Third Quarter 1998.
- Article from:
- PR Newswire
- Article date:
- October 20, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BALTIMORE, Oct. 20 /PRNewswire/ -- First Mariner Bancorp (Nasdaq: FMAR), parent company of First Mariner Bank, today announced net income of $180,991 for its third quarter ended September 30, 1998 compared to net income of $103,194 for the third quarter of 1997. The Company reported net income of $486,233 for the nine months ended September 30, 1998 compared to net income of $191,276 for the same period in 1997.
Central to the profitability improvement was the growth in First Mariner's loan portfolio and other assets. The Company's assets were $459.8 million at September 30, 1998, up 116 percent from $212.5 million in assets as of September 30, 1997. The ...