UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT TO
SECTION
13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
report (Date of earliest event reported) March
31, 2005
(Exact
name of Registrant as specified in Charter)
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Maryland |
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000-21815 |
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52-1834860 |
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(State or other Jurisdiction of
incorporation) |
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(Commission File
Number) |
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(IRS Employer Identification
No.) |
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3301 Boston Street, Baltimore, MD
21224 |
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(Address of Principal Executive
Offices/Zip Code) |
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Registrant's telephone number,
including area code: (410)
342-2600 |
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Not
Applicable |
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(Former name or former address of
Registrant, if changed since last report) |
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions:
o Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
INFORMATION
TO BE INCLUDED IN THE REPORT
Item
2.01 Completion of Acquisition or Disposition of Assets
On March
31, 2005, First Mariner Bancorp (the "Company”) completed the purchase of the
location of its current headquarters located at 3301 Boston Street, Baltimore,
Maryland (the "Property"), pursuant to the Purchase and Sale Agreement dated
October 24, 2004 with Canton Crossing, LLC and Hale Canton, LLC, limited
liability companies wholly owned by Edwin F. Hale Sr., the Chairman of the Board
and the Chief Executive Officer of the Company.
The
Company acquired from Hale Canton, LLC all of the membership interests in Canton
Crossing II, LLC, which owns the Property. The purchase price for the Property
was $20,000,000, which was paid as follows: (i) the Company assumed the
outstanding principal balance of the existing loan on the Property of
approximately $10,000,000, and (ii) the Company paid the difference between the
outstanding principal balance on the loan and the purchase price in
cash.
The
purchase price was based on independent appraisals performed on behalf of the
Company, and the purchase was approved by the Company's Audit Committee and the
independent members of the Board of Directors.
The
Company and its subsidiaries occupy approximately 54,800 square feet of office
space and a 3,000 square foot retail banking branch on the Property.
Approximately 21,200 square feet of space is leased to other office and retail
tenants. The Property consists of approximately 79,000 square feet of rentable
space on approximately two acres of land at the corner of Clinton Street and
Boston Street.
A copy of
the Agreement was filed as Exhibit 10.1 to the Company’s Form 8-K filed on
October 22, 2004.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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FIRST MARINER
BANCORP |
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| Date: April 5, 2005 |
By: |
/s/ Mark Keidel |
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Mark Keidel |
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Chief Financial
Officer |