Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Compensatory Plan

On June 16, 2009, the Compensation Committee of the Board of Directors of First Mariner Bancorp (the "Corporation") increased the annual salary of Mark A. Keidel, the Corporation's President and Chief Operating Officer, to $235,000 (previously $193,500), increased the annual salary of Robert P. Warr, Chief Risk Officer and Executive Vice President, to $175,000 (previously $100,000), and confirmed the previously-announced $150,000 annual salary of Paul B. Susie, Chief Financial Officer. The Compensation Committee additionally granted a vehicle allowance to Mr. Susie in the amount of $500 per month.