First Mariner Bank -- The Deep Dale/Storke Memorial Smack Board

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Subject: First Mariner Bank

Author:
looking bleak

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Date Posted: 09:18:23 10/22/08 Wed

I am not an industry expert, but if any of you have money in 1st Mariner Bank, I offer caution.

For those of you familiar with the Old Court S&L and the savings & loan crisis of the late 80's, 1st Mariner Bank may be next in the State of Maryland.

6 consecutive quarters of over $ 3 million in losses, heavy penetration of sub-prime lending requiring extensive write offs, unprecedented turmoil in the real estate market, a stock price that consistently ranged in the $16 per share range for year and closed yesterday at $1.96 per share. Combined with continued spending that exceeds income in spite of it & a CEO that has an ego the size of Texas. Plus, his girlfriend, Jennifer Gilbert, Anchor of Fox 45, and esteemed sugar britches, terminated their dating relationship.

For those of you old enough to remember the terms, "run on a bank" which included longs lines of folks outside of Old Court & other S&L's in Baltimore to remove their life savings & account funds, there is only one question remaining for 1st Mariner Bank customers.

Do you want the traditional chaise chair or the chaise chair with the umbrella, to wait in line for your money ?

34oz

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