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1st Mariner Bancorp Withdraws from Priam Capital Fund I, LP Agreement



    1st Mariner Bancorp Withdraws from Priam Capital Fund I, LP Agreement

PR Newswire

BALTIMORE, Nov. 9, 2012

BALTIMORE, Nov. 9, 2012 /PRNewswire/ -- The Board of Directors of 1^st Mariner
Bancorp (OTC BB: FMAR) announced today that it has withdrawn from its
securities purchase agreement with Priam Capital Fund I, LP, a New York-based
investment firm.

Mark A. Keidel, 1^st Mariner's Chief Executive Officer, said, "Circumstances
of the bank have changed considerably since we entered into the agreement over
a year and a half ago, and the Board of Directors believed it was in the best
interest of the Company to withdraw from the agreement at this time." Either
party to the securities purchase agreement was permitted to terminate the
agreement at any time for any reason if the transaction was not completed by
November 30, 2011.

Mr. Keidel continued, "Over the last nine months, 1^st Mariner has steadily
improved its capital position with positive earnings. While our capital ratios
remain below the levels required by regulatory orders, we are making progress
and will continue to work diligently to increase capital to levels required by
regulatory agreements."

"We have tremendous respect for Priam and its managing director, Howard
Feinglass, and deeply appreciate the support Priam gave the Company over the
past eighteen months," Mr. Keidel concluded.

1st Mariner entered into the securities purchase agreement with Priam on April
19, 2011.  Under the agreement, Priam agreed to invest, subject to certain
conditions, approximately $36.4 million of capital in the Company.  Among
other conditions, the closing of Priam's investment was contingent on 1^st
Mariner raising an additional $123.6 million from other investors.

About 1st Mariner Bancorp

1st Mariner Bancorp is a bank holding company with total assets of $1.29
billion.  Its wholly owned banking subsidiary, 1st Mariner Bank, operates 21
full service bank branches in Baltimore, Anne Arundel, Harford, Howard,
Talbot, and Carroll 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 also operates direct marketing mortgage operations in
Baltimore.  1st Mariner Bancorp's common stock is quoted on the OTC Bulletin
Board under the symbol "FMAR".  1st Mariner's Website address is
www.1stMarinerBancorp.com, which includes comprehensive level investor
information.

In addition to historical information, this press release contains
forward-looking statements that involve risks and uncertainties, such as
statements of the Company's plans and expectations regarding the Company's
efforts to meet regulatory capital requirements established by the Federal
Reserve and the FDIC, revenue growth, anticipated expenses, profitability of
mortgage banking operations, and other unknown outcomes.  The Company's actual
results could differ materially from management's expectations.  Factors that
could contribute to those differences include, but are not limited to, the
Company's ability to increase its capital levels and those of 1st Mariner
Bank, volatility in the financial markets, changes in regulations applicable
to the Company's business, its concentration in real estate lending, increased
competition, changes in technology, particularly Internet banking, impact of
interest rates, and the possibility of economic recession or slowdown (which
could impact credit quality, adequacy of loan loss reserve and loan growth).
Greater detail regarding these  factors is provided in the forward looking
statements and  Risk Factors sections included in the reports filed by the
Company with the SEC, including the Company's Annual Report on Form 10-K for
the year ended December 31, 2011 and the Company's Quarterly Report on Form
10-Q for the six months ended June 30, 2012. Our forward-looking statements
may also be subject to other risks and uncertainties, including those we may
discuss elsewhere in this news release, or in our SEC filings, which are
accessible on our web site and at the SEC's web site, www.sec.gov.

SOURCE 1st Mariner Bancorp

Website: http://www.1stmarinerbancorp.com
Contact: Bill Atkinson, Weber Shandwick, +1-410-558-2136,
batkinson@webershandwick.com
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