Boston, MA 06/17/2013 (wallstreetpr) – The share prices of First Mariner Bancorp (OTCBB:FMAR) had surged by 12.45 percent to close at $2.62 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $2.35 to $2.88 per share for the day, thus pushing the company to touch new peaks. The shares of First Mariner Bancorp (OTCBB:FMAR) had thereby readjusted their 52 week high price level to $2.88 per share and the 52 week low price level of the company is at $0.43 per share.
First Mariner Bancorp (OTCBB:FMAR) is primarily a bank holding company with its operations being managed through its wholly owned operating subsidiary, First Mariner Bank. The company’s primary market area is located in the central Maryland as well as in portions of Maryland’s eastern shore. First Mariner Bancorp (OTCBB:FMAR) provides core banking operations which consist of traditional consumer and commercial lending as well as retail and commercial deposit operations.
The independent community bank holding company, First Mariner Bancorp (OTCBB:FMAR) operates its business through two major segments namely commercial and consumer banking segment and mortgage banking segment. Further, the deposits held by the First Mariner Bank are insured by the Federal Deposit Insurance Corporation.
The Mariner Finance, which functioned as a former division of First Mariner Bancorp (OTCBB:FMAR) was sold off by its present holder, Milestone Partners, a private equity firm. This division which was earlier acquired by the private equity firm in 2009 had now been sold for more than five times its earlier acquired value of $10.5 million.
First Mariner Bancorp (OTCBB:FMAR) had recently been witnessing heavy trading volumes with surge in share prices to new peaks. The company had witnessed the trade of 331,108 shares on Friday, while the average trading volume is at 84,932 shares per day.
First Mariner Bancorp (OTCBB:FMAR) presently holds 18.86 million shares outstanding in the market.
