1st Mariner Bank is positioned for long-term success.
Baltimore, Md. (PRWEB) February 01, 2016
1st Mariner Bank, the largest independently owned financial institution in Baltimore City, today announced the successful completion of their first full calendar year under new management, celebrating several key achievements for 2015. Most notably, the Bank achieved:
- Robust new commercial loan originations of $130 million,
- Strong non interest deposit growth of 20%, and
- Gross mortgage banking revenue of $24 million.
In addition, the Bank expanded its commercial lending team by hiring six new lending and Treasury Management officers. Members of the new team each have 15 or more years of lending experience in the Bank’s footprint.
1st Mariner established 63 new commercial banking relationships with small- to middle-market companies in Maryland and Delaware. Commitments and outstandings relating to these new relationships totaled $130 million and $91 million, respectively. Jack Steil, Chairman and Chief Executive Officer said, “Our ability to recruit and hire top tier talent combined with those individuals’ success in establishing new relationships with so many high quality companies is proof the market supports a locally headquartered bank.”
In 2015, the Bank’s new leadership continued to focus on returning the bank to profitability. Rob Kunisch, President and Chief Operating Officer said, “We took advantage of our well-capitalized position to resolve a number of legacy bank issues that related to the Bank’s financial distress leading up to the recapitalization.”
“We’ve made significant progress over the last 12 months in repositioning the balance sheet, expanding our commercial lending activities, growing core deposits and successfully originating mortgages. More importantly, 1st Mariner Bank is positioned for long-term success.”
About 1st Mariner Bank
1st Mariner Bank is the largest, independently owned bank in Baltimore City. It operates 15 full service bank branches in Baltimore, Anne Arundel, Harford and Howard counties in Maryland, and the City of Baltimore. 1st Mariner Mortgage, a division of 1st Mariner Bank, operates retail offices in Central Maryland, the Eastern Shore of Maryland, and portions of Northern Virginia. 1st Mariner Mortgage also operates direct marketing mortgage operations in Baltimore. 1st Mariner Bank’s Website address is http://www.1stMarinerBank.com.