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Article: The Daily Record News Briefs: May 4, 2009
- Article from:
- The Daily Record (Baltimore)
- Article date:
- May 4, 2009
CopyrightCopyright 2009 The Daily Record (Baltimore). Provided by ProQuest LLC. (Hide copyright information)
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1st Mariner narrows loss
1st Mariner Bancorp, of Baltimore, parent company of 1st Mariner
Bank and Mariner Finance LLC, reported a first-quarter loss of $3.1
million, or 48 cents per diluted share, versus $3.3 million, or 52
cents per diluted share, in the year-ago period. The bank's net loss
in fourth-quarter 2008 was $9.1 million. The company said it had to
boost loan loss reserves in the 2009 first quarter to $4.4 million
from $3.8 million in the prior-year period, due to deterioration in
appraised value of its non-performing real estate loans and
foreclosed residential real estate. Total assets rose 7 percent to
$1.4 billion this year versus $1.3 billion in the 2008 period.
Fix slated ...