Showing posts with label Journalists Hopkins Jamie Smith Sun. Show all posts
Showing posts with label Journalists Hopkins Jamie Smith Sun. Show all posts

Monday, February 10, 2014

Excellent business and economics writer Jamie Smith Hopkins reports 1st Mariner Bank to be sold to investors

1st Mariner Bank to be sold to investors - baltimoresun.com

Parent company filed for bankruptcy protection as part of the deal; the bank is not included in that filing

By Jamie Smith Hopkins, The Baltimore Sun 7:12 PM EST, February 10, 2014



The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis.

A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million.

First Mariner Bancorp, the parent company, said it filed for Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to "facilitate the transaction."

[…]

"For four years, the bank has been under a regulatory order that it's been trying to satisfy, and we've reached the finish line," said Mark Keidel, interim president of 1st Mariner Bank. "This agreement … puts the bank on much firmer financial ground — and quite frankly gives us the ability to be back on offense."




Jamie Smith Hopkins: 1st Mariner Bank to be sold to investors
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Tuesday, April 10, 2012

Homeowners must apply for property-tax credit or lose it by Jamie Smith Hopkins, The Baltimore Sun

Homeowners must apply for property-tax credit or lose it


State launches online feature to show which owners are set

By Jamie Smith Hopkins, The Baltimore Sun April 3, 2012


Tens of thousands of Maryland homeowners who haven't already applied for the Homestead Property Tax Credit have until the end of the year to do so or lose the often-valuable break.

The deadline was set so long ago — 2007 — that some residents might not remember if they applied. State assessors, hoping to cut down on anxious calls, launched an online feature Monday that notes whether a property's application is in and processed.

"We get such tremendous volume of calls, and one of the unfortunate things is, when people do call … they sometimes get a busy signal," said Robert E. Young, director of the state Department of Assessments and Taxation. "It's so much easier just to go to the website."

The owners of 807,000 homes in the state are getting a break on their property taxes thanks to the homestead credit, which acts as a limit on annual increases. About 150,000 owners haven't sent in their applications, according to the assessments agency.

The statewide homestead program is only for primary residences. It keeps the amount of assessed value a homeowner is taxed on from increasing more than 10 percent a year, with even lower caps in most jurisdictions… http://www.baltimoresun.com/business/bs-bz-homestead-application-feature-20120402,0,3243613.story

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Search on The Baltimore Sun website for Homestead Tax Application: http://www.baltimoresun.com/search/dispatcher.front?Query=Homestead+Tax+Application&target=adv_article


Governance Taxes property, Journalists Hopkins Jamie Smith Sun, MD Assessments and Taxation SDAT, MD State Govt, Taxes Homestead Tax Credit
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