Unassociated Document
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) May
12, 2005
FIRST
MARINER BANCORP
(Exact
name of Registrant as specified in Charter)
|
Maryland |
000-21815 |
52-1834860 |
|
(State or other Jurisdiction of
incorporation) |
(Commission File
Number) |
(IRS Employer Identification No.) |
3301
Boston Street, Baltimore, MD 21224
(Address
of Principal Executive Offices/Zip Code)
Registrant's
telephone number, including area code: (410)
342-2600
Not
Applicable
(Former
name or former address of Registrant, if changed since last report)
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
1.01. Entry into a Material Definitive Agreement
On May
12, 2005, First Mariner Bank (the "Bank"), a wholly owned subsidiary of First
Mariner Bancorp (the "Company"), entered into a Lease Agreement (the "Lease")
with Hale Properties LLC ("Hale Properties") to lease approximately 56,658
square feet of office space on the 4th and
16th floors
of a new building currently under construction by Hale Properties, which is
owned by Edwin F. Hale, Sr., CEO of the Bank and The Company. The Bank will
pay rent in the amount of $25.00 per square foot, or $1,416,450 per year. The
Bank will also pay an annual common area maintenance charge of $368,277 per
year. The Bank has the option to lease up to 56,658 additional square feet of
space within five years of occupancy at the current rate of $25.00 per square
foot.
The Lease
has a 10 year term, commencing within 90 days after receipt of written notice
that the leased premises are available for the Bank's use and occupancy.
The Bank has the option to extend the initial term for four additional
terms of five years each.
In
connection with the execution of the Lease, the Bank will enter into a
Subordination, Non-Disturbance and Attornment Agreement with Hale Properties and
CIBC Inc., which is Hale Properties’ lender.
These
agreements were approved by the Company's Audit Committee and the independent
members of the Board of Directors of the Bank and the Company, which believe
that the Lease is comparable or at least favorable to market rates and
terms.
A copy of
the Lease is being filed herewith as Exhibit 10.1 and is incorporated herein by
reference.
Item
9.01 Financial Statements and Exhibits
(c)
Exhibits.
| |
10.1 |
Lease
Agreement dated May 12, 2005 between First Mariner Bancorp and Hale
Properties, LLC (filed herewith). |
| |
|
|
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.
| |
|
|
| |
FIRST MARINER
BANCORP |
|
|
|
| Date: May 17, 2005 |
By: |
/s/ Joseph
Cicero
|
| |
Joseph
Cicero |
| |
President |
EXHIBIT
INDEX
| |
10.1 |
Lease
Agreement dated May 12, 2005 between First Mariner Bancorp and Hale
Properties, LLC (filed herewith). |
| |
|
|