Exhibit 99.1

1ST MARINER REPORTS 2009 RESULTS

Deposits Rise, Non-Performing Assets Stabilize

Record Date Set for Proposed Rights Offering

Baltimore, MD (February 2, 2010) — 1st Mariner Bancorp (NASDAQ: FMAR), parent company of 1st Mariner Bank, reported a net loss from continuing operations for the fourth quarter of 2009 of  $3.7 million, or $(0.57) per share, which represented a 61% improvement over the loss of $9.4 million, or $(1.46) per share, for the fourth quarter of 2008. For the year ended December 31, 2009, the Company’s net loss from continuing operations was $13.2 million, compared to $16.8 million, a decrease of 21%. Including the loss from the sale of the Company’s consumer finance subsidiary “Mariner Finance” in the third quarter of 2009, the net loss for the full year ended December 31, 2009 totaled $22.3 million compared to $15.1 million for the full year ended December 31, 2008.

Edwin F. Hale, Sr., 1st Mariner’s chairman and chief executive officer, said, “We continue to execute on our plan to increase our capital levels. The recent completion of the sale of Mariner Finance helped boost the Bank’s total capital ratio to 9.1% compared to 8.4% at the end of September 2009 and 8.8% at December 31, 2008.  Although the sale impacted earnings, it was a necessary and beneficial step to increasing the regulatory capital ratios of 1st Mariner Bank.”

Mr. Hale added, “We are encouraged by the stabilization in our asset quality during the year and a decrease in our loan delinquencies during the final quarter of the year. We have been focused on resolving prior problem assets and improving the balance sheet of 1st Mariner. The figures reported for the fourth quarter reflect that effort.”

Operating Summary

The net loss for the fourth quarter of 2009 included $4.5 million in credit-related charges to earnings, including a $3.3 million provision for loan losses and $1.2 million in expenses related to foreclosed properties. This represents a 38% decrease in credit related costs when compared to the fourth quarter of 2008, when the provision for loan losses was $4.2 million and the expenses on foreclosed properties was $3.1 million.

·                  Total revenue for the 4th quarter 2009 was $13.8 million, an increase of $6.8 million over the 4th quarter of 2008’s revenue of $7.0 million. Revenue totals for 2008 reflected $4.7

million in write-downs on securities for other than temporary impairments compared to $650 thousand in the 4th quarter of 2009.  Also included in the improvement was lower interest expense on borrowings and deposits that helped increase the Company’s net interest margin.

·                  Net interest income increased  $2.0 million in the 4th quarter of 2009 compared to the 4th quarter of 2008.  The net interest margin for the 4th quarter of 2009 was 2.72%, an increase of 60 basis points from 2.12% in the 4th quarter of 2008. This was the result of a lower cost of funds and higher investment yields in 2009 when compared to 2008.

·                  Average earning assets grew by $56.6 million, or 5.4%, compared with last year’s 4th quarter, reflecting growth in portfolio loans and loans held for sale.

·                  The provision for loan losses totaled $3.3 million for the 4th quarter of 2009, a decrease of 21% over the provision of $4.2 million in the corresponding quarter last year.  Net charge-offs declined $1.3 million to $2.7 million for the 4th quarter of 2009 from $4.0 million of 4th quarter of 2008. The allowance for loans losses at the end of the fourth quarter of 2009 was $11.6 million, a decrease of 31% over the prior year’s figure of $16.8 million. The decrease was primarily attributable to the removal of the allowance for loan losses that was related to Mariner Finance’s loan portfolio. The allowance for loan losses as a percentage of total loans was 1.31% as of December 31, 2009, compared to 1.71% as of December 31, 2008. Non-performing assets remained relatively flat when compared to the fourth quarter of 2008, with $57.8 million in 2008 versus $57.4 million in 2009. While the non-performing assets and loans 90 or more days past due have stabilized year to year, there has been an improvement in the fourth quarter of 2009 when compared to the third quarter of 2009. Loans 90 days or more past due have decreased 54% from September 30, 2009 to December 31, 2009, moving from $20.2 million to $9.2 million.

·                  Non-interest income for the fourth quarter of 2009 increased $4.8 million over the same quarter in 2008 mainly due to lower write-downs of investment securities.

·                  Non-interest expenses decreased $1.9 million, or 10%, in the fourth quarter of 2009 when compared to the corresponding period last year.  The costs related to foreclosed properties decreased $1.9 million, or 62%, in the fourth quarter of 2009 when compared to 2008. Although non-interest expenses decreased overall, there were significant increases in FDIC Insurance premiums and professional fees. FDIC Insurance premiums increased $0.75 million, or 229%, in the fourth quarter of 2009. Professional fees increased $0.78 million in the fourth quarter of 2009, and were the result of increased costs associated with regulatory compliance issues and expenses associated with the planned capital raise and other strategic initiatives.

Comparing balance sheet data as of December 31, 2009 and 2008, total assets increased to $1.38 billion, 6% over the prior year’s $1.31 billion.

·                  Total loans outstanding decreased $87.7 million, or 9%, to $890.9 million as of December 31, 2009. The decrease is fully attributable to the sale of the assets of Mariner Finance in

2009, which represents $103.2 million of the decrease. Excluding the prior Mariner Finance loans, total loans increased by $14.4 million, primarily in residential mortgages.

·                  Total deposits grew to $1.15 billion as of December 31, 2009, and increase of $196.3 million, or 21%, over December 31, 2008’s deposits of $950.2 million. An increase in Certificates of Deposit was the primary reason for the overall increase in deposits. Total Certificates of Deposit were $811.4 million as of December 31, 2009, an increase of $200.1 million, or 33%, over December 31 2008’s balance of $611.2 million. NOW accounts increased $1.6 million and savings accounts increased $1.8 million. Non-interest bearing checking accounts decreased $2.6 million and money market accounts decreased $4.7 million.

·                  Stockholders’ Equity was $26.9 million as of December 31, 2009, resulting in a book value per share of $4.18, a decrease of $2.95, compared to the book value of $7.13 at December 31, 2008. Capital Ratios in the 4th quarter of 2009 for First Mariner Bank were as follows: Leverage Ratio = 6.2%; Tier 1 risk-based ratio = 7.9% Total Capital Ratio = 9.1%. This is an improvement over the capital ratios as of December 31, 2008 which were: Leverage Ratio = 5.8%; Tier 1 risk-based ratio = 6.8% Total Capital Ratio = 8.8%. The increase in the capital ratios for the Bank is attributable to the sale of Mariner Finance and the recent tax law change allowing companies to carryback their net operating losses further. Management will continue efforts to further increase these ratios in the first quarter of 2010.

Record Date For Proposed Rights Offering

1st Mariner Bancorp has set February 12, 2010 as the record date for its previously disclosed proposed rights offering of common stock.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  You may obtain a written prospectus, when available, for the proposed rights offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended, by writing to the Company, 1501 S. Clinton Street, Baltimore, Maryland  21224, Attention: Eugene A. Friedman, Corporate Secretary.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.  Securities may not be sold nor may offers to buy be accepted prior to the effectiveness of a registration statement, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

1st Mariner Bancorp is a bank holding company with total assets of $1.38 billion.  Its wholly owned banking subsidiary, 1st Mariner Bank, with total assets of $1.37 billion, operates 24 full service bank branches in Baltimore, Anne Arundel, Harford, Howard, Talbot, and Carroll counties in Maryland, the City of Baltimore, and Shrewsbury, Pennsylvania.  1st Mariner Mortgage, a

division of 1st Mariner Bank, operates retail offices in Central Maryland and the Eastern Shore of Maryland.  1st Mariner Mortgage also operates direct marketing mortgage operations in Baltimore County.  1st Mariner Bancorp’s common stock is traded on the NASDAQ Global Market under the symbol “FMAR”.  1st Mariner’s Website address is www.1stMarinerBancorp.com, which includes comprehensive level investor information.

In addition to historical information, this press release contains forward-looking statements that involve risks and uncertainties, such as statements of the Company’s plans and expectations regarding efficiencies resulting from new programs and expansion activities, revenue growth, anticipated expenses, profitability of mortgage banking operations, and other unknown outcomes.  The Company’s actual results could differ materially from management’s expectations.  Factors that could contribute to those differences include, but are not limited to, changes in regulations applicable to the Company’s business, successful implementation of the Company’s branch expansion strategy, its concentration in real estate lending, increased competition, changes in technology, particularly Internet banking, impact of interest rates, possibility of economic recession or slowdown (which could impact credit quality, adequacy of loan loss reserve and loan growth) and control by and dependency on key personnel, particularly Edwin F. Hale, Sr., Chairman of the Board of Directors and CEO of the Company.

Contact: Mark A. Keidel — EVP/COO 410-558-4281

FINANCIAL HIGHLIGHTS (UNAUDITED)

First Mariner Bancorp

(Dollars in thousands, except per share data)

FINANCIAL HIGHLIGHTS (UNAUDITED)

First Mariner Bancorp

(Dollars in thousands, except per share data)

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED)

First Mariner Bancorp

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

First Mariner Bancorp

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CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES (UNAUDITED)

First Mariner Bancorp

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