Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DYER DANIEL P
   2. Issuer Name and Ticker or Trading Symbol
MARLIN BUSINESS SERVICES CORP [MRLN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last)
(First)
(Middle)
C/O MARLIN BUSINESS SERVICES CORP., 300 FELLOWSHIP ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
02/18/2011
(Street)

MOUNT LAUREL, NJ 08054		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/18/2011   F   1,892 (1) D $ 11.51 370,087 (2) (3) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Purchase Common Stock $ 12.41             05/24/2014(4) 05/24/2017 Common Stock 39,912   39,912 D  
Option to Purchase Common Stock $ 12.41             05/24/2013(5) 05/24/2017 Common Stock 8,612 (6)   8,612 D  
Option to Purchase Common Stock $ 10.18             10/04/2005(7) 10/04/2011 Common Stock 51,240   51,240 D  
Option to Purchase Common Stock $ 3.39             01/17/2006(7) 01/17/2012 Common Stock 14,000   14,000 D  
Option to Purchase Common Stock $ 3.39             01/13/2007(7) 01/13/2013 Common Stock 7,000   7,000 D  
Option to Purchase Common Stock $ 10.18             01/13/2007(7) 01/13/2013 Common Stock 6,650   6,650 D  
Option to Purchase Common Stock $ 9.52             03/01/2012(7) 03/01/2015 Common Stock 22,642   22,642 D  
Option to Purchase Common Stock $ 9.52             03/01/2012(5) 03/01/2015 Common Stock 31,034 (8)   31,034 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DYER DANIEL P
C/O MARLIN BUSINESS SERVICES CORP.
300 FELLOWSHIP ROAD
MOUNT LAUREL, NJ 08054		   X     Chief Executive Officer  

Signatures

 /s/ George D. Pelose Attorney in Fact   02/22/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents the delivery of shares to pay the tax liability associated with the vesting of certain shares of restricted stock.
(2) Includes a total of 221,494 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
(3) Includes 900 shares acquired under the Marlin Business Services Corp. 2003 Employee Stock Purchase Plan on December 31, 2010.
(4) Date listed is the date of full vesting. Vests 25% per year beginning on the first anniversary of the date of grant.
(5) Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved.
(6) Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 2,870; 5,741; or 8,612.
(7) Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant.
(8) Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 10,345; 20,689; or 31,034.

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