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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
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        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        DC 20549</strong></font></div>
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        <div>&#160;</div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
          8-K</strong></font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT PURSUANT TO </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        13 OR 15(d) OF</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>THE
        SECURITIES EXCHANGE ACT OF 1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        report (Date of earliest event reported) </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>December
        28, 2005</u></strong></font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <hr style="COLOR: #000000" align="center" noshade size="1" width="15%">
        &#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><u>FIRST
        MARINER BANCORP</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Exact
        name of Registrant as specified in Charter)</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div align="center">
        <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

            <tr bgcolor="#ffffff">
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">Maryland</font></u></strong></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">000-21815</font></u></strong></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><u><font size="2">52-1834860</font></u></strong></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(State
                  or other
                  Jurisdiction</font></em></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(Commission
                  File
                  Number)</font></em></div>
              </td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">(IRS
                  Employer
                  Identification</font></em></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">of
                  incorporation)</font></em></div>
              </td>
              <td width="33.33%">&#160;</td>
              <td width="33.33%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<em><font size="2">No.)</font></em></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>3301
        Boston Street, Baltimore, MD 21224</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
        of Principal Executive Offices/Zip Code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
        telephone number, including area code: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>(410)
        342-2600</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Not
        Applicable</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
        name or former address of Registrant, if changed since last report)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;Soliciting
        material pursuant to Rule 14a-12 under
        the Exchange Act (17 CFR 240.14a-12)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;Pre-commencement
        communications pursuant to Rule
        14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font face="Wingdings">o</font>&#160;Pre-commencement
        communications pursuant to Rule
        13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div>&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">1</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INFORMATION
        TO BE INCLUDED IN THE REPORT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        1.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
        into a Material Definitive Agreement.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
        the
        information reported in Item 2.03 of this Current Report on Form 8-K, which
        is
        incorporated herein by reference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        2.03.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Creation
        of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet
        Arrangement of a Registrant.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Introduction</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 28, 2005 First Mariner Bancorp (the &#8220;Company&#8221;) entered into several
        agreements providing for the private placement of Preferred Securities
        (&#8220;Preferred &#8220;Securities&#8221;) by its newly formed Delaware trust subsidiary, Mariner
        Capital Trust VIII (the &#8220;Trust&#8221;), to Wilmington Trust Company (the &#8220;Purchaser&#8221;).
        The agreements provide for the Trust to sell $10,000,000 of Preferred Securities
        to the Purchaser and $310,000 of Common Securities (the &#8220;Common Securities&#8221; and
        collectively with the Preferred Securities, the &#8220;Securities&#8221;) to the Company,
        which sales were completed on December 28, 2005. The Trust used the proceeds
        from the sales of the Securities to purchase the Floating Rate Junior
        Subordinated Deferrable Interest Debentures due 2035 described below (the
        &#8220;Debentures&#8221;) from the Company on December 28, 2005. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Preferred Securities have not been registered under the Securities Act of
        1933,
        as amended (the "Securities Act"), and may not be offered or sold in the
        United
        States absent registration or an exemption from the registration requirements.
        This notice does not constitute an offer to sell or the solicitation of an
        offer
        to buy the Preferred Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        principal agreements into which the Company has entered in connection with
        these
        transactions are briefly described below.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Placement
        Agreement</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 28, 2005 the Company and the Trust entered into a Placement Agreement
        (the &#8220;Placement Agreement&#8221;) with J.P. Morgan Securities Inc. (the &#8220;Placement
        Agent&#8221;), who agreed to arrange for the purchase of the Preferred Securities by
        the Purchaser. The Placement Agreement provides for the sale by the Trust
        of the
        Preferred Securities to the Purchaser for a purchase price of $10,000,000.
        The
        Placement Agreement provides that the Company will pay all costs and expenses
        incident to the performance of the obligations of the Company and the Trust
        under the Placement Agreement. The Placement Agreement requires the Company
        and
        the Trust to indemnify the Placement Agent, the Purchaser, the Placement
        Agent's
        affiliates, certain subsequent purchasers of the Preferred Securities identified
        in the Placement Agreement, and the directors, officers, employees, and agents
        of the foregoing and each person who "controls" such persons (within the
        meaning
        of either the Securities Act or the Securities Exchange Act of 1934, as amended)
        against certain losses, claims, damages, and liabilities arising in connection
        with the sale of the Preferred Securities. </font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Indenture</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 28, 2005, the Company entered into an Indenture (the &#8220;Indenture&#8221;) with
        Wilmington Trust Company, as Trustee. The Indenture provides for the issuance
        by
        the Company of Debentures aggregating $10,310,000 in principal amount, which
        Debentures were issued on December 28, 2005 and registered in the name of
        the
        Wilmington Trust Company, the Institutional Trustee on behalf of the Trust.
        The
        Debentures </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">bear
        interest at a rate per annum of 6.26% through December 30, 2010 and thereafter
        at a rate per annum, reset quarterly, equal to the 3-Month LIBOR plus 1.50%.
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interest
        is payable on each March 30, June 30, September 30, and December 30.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
        the
        Indenture, the Company has the option, so long as it is not in default under
        certain specified provisions of the Indenture, at any time and from time
        to
        time, to defer the payment of interest on the Debentures for up to 20
        consecutive quarterly interest payment periods. During any such extension
        period, or while an event of default exists under the Indenture, or if the
        Company is in default with respect to its payment obligations under the
        Guarantee Agreement discussed below, the Indenture imposes restrictions on
        the
        Company&#8217;s ability to (i) declare or pay dividends or distributions on, or
        redeem, purchase, acquire or make a liquidation payment with respect to,
        any of
        the Company&#8217;s capital stock, or (ii) make payments of principal, interest or
        premium on, or repay, repurchase or redeem, any debt securities the Company
        may
        issue that rank equal or junior to the Debentures.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Debentures mature on December 30, 2035 and can be redeemed in whole or in
        part
        by the Company, at its option, at 100% of their principal amount plus accrued
        and unpaid interest at any time on or after December 30, 2010. During the
        occurrence and continuance of a Special Event as defined in the Indenture,
        the
        Company may also redeem the Debentures in full, at its option, at 100% of
        their
        principal amount plus accrued and unpaid interest. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Trustee or the holders of at least 25% in aggregate principal amount of
        outstanding Debentures may, by notice to the Company (and in some cases also
        to
        the Trustee), declare the principal amount of all of the Debentures due and
        payable immediately upon the occurrence of certain events of default specified
        in the Indenture. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Indenture requires the Company to indemnify and hold harmless the Trustee,
        its
        Affiliates (as defined in the Indenture), and their officers, agents, directors,
        shareholders, representatives, and employees against all losses, damages,
        and
        other liabilities arising out of or in connection with the acceptance or
        administration of the Trust, to the extent such losses, damages or liabilities
        are incurred without negligence, bad faith or willful misconduct on the part
        of
        the indemnified person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Amended
        and Restated Declaration of Trust</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 28, 2005, the Company, as Depositor, Wilmington Trust Company, as
        Property Trustee, Wilmington Trust Company, as Delaware Trustee, and Mark
        A.
        Keidel and Eugene A. Friedman, as Administrators, entered into an Amended
        and
        Restated Declaration of Trust (the &#8220;Trust Agreement&#8221;). Each of the
        Administrators is an officer of the Company.</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
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        <div id="HDR">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Trust
        Agreement provides for the issuance of the Securities by the Trust. Each
        Security has a liquidation amount of $1,000. The Preferred Securities have
        an
        aggregate liquidation amount of $10,000,000 and the Common Securities have
        an
        aggregate liquidation amount of $310,000. The Trust Agreement provides for
        distributions to be paid on the Securities, based on the liquidation amount
        of
        the outstanding Securities, at the same rates and times as interest is payable
        on the Debentures issued pursuant to the Indenture by the Company to the
        Institutional Trustee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Guarantee
        Agreement</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        December 28, 2005, the Company, as Guarantor, entered into a Guarantee Agreement
        with Wilmington Trust Company, as Guarantee Trustee, for the benefit of the
        holders from time to time of the Preferred Securities. Pursuant to the Guarantee
        Agreement, the Company unconditionally agreed to pay (to the extent not paid
        by
        or on behalf of the Trust, and without duplication), amounts due and payable
        under the Preferred Securities, to the extent that the Trust has funds available
        for such payment at the time, as well as all other costs, expenses and
        liabilities (other than tax liabilities) of the Trust. The Company&#8217;s obligations
        under the Guarantee Agreement are subordinate and junior in right of payment
        to
        all of the Company&#8217;s Senior Indebtedness as defined in the
        Indenture.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        5.02 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        December 29, 2005 Stephen Burch resigned from the Board of Directors of the
        Company. Mr. Burch's employment commitments require him to relocate to the
        United Kingdom and he believes that his distance from the Company and his
        employment commitments upon relocation will limit the usefulness of his further
        service to the Board.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        9.01. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
        Statements and Exhibits.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>
        Exhibits.</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 36pt">&#160;</td>
                <td style="WIDTH: 36pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indenture
                    dated as of December 28, 2005.</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25">
                <td style="WIDTH: 36pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
                  to Regulation S-K Item 601(b)(4)(iii), the registrant agrees to
                  furnish a
                  copy of the Indenture to the Securities and Exchange Commission
                  upon
                  request.</font></td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

              <tr valign="top" bgcolor="#ffffff">
                <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FIRST
                  MARINER BANCORP</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
                  December 30, 2005</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Joseph
                  A. Cicero</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
                <td align="left">
                  <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">Joseph
                  A. Cicero</font></td>
              </tr>
              <tr valign="top" bgcolor="#ffffff">
                <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President
                  and Chief Operating Officer</font></td>
              </tr>

          </table>
        </div><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        INDEX</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit</u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;
</font><u><font size="2">Description</font></u></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <div>
            <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                <tr valign="top" style="LINE-HEIGHT: 1.25">
                  <td style="WIDTH: 36pt">&#160;</td>
                  <td style="WIDTH: 36pt">&#160;</td>
                  <td>&#160;</td>
                </tr>

            </table>
          </div>
          <div>
            <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                <tr valign="top" style="LINE-HEIGHT: 1.25">
                  <td style="WIDTH: 36pt">&#160;</td>
                  <td style="WIDTH: 36pt">
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
                  </td>
                  <td>
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indenture
                      dated as of December 28, 2005.</font></div>
                  </td>
                </tr>

            </table>
          </div>
          <div>
            <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

                <tr valign="top" style="LINE-HEIGHT: 1.25">
                  <td style="WIDTH: 36pt">&#160;</td>
                  <td style="WIDTH: 36pt">&#160;</td>
                  <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
                    to Regulation S-K Item 601(b)(4)(iii), the registrant agrees
                    to furnish a
                    copy of the Indenture to the Securities and Exchange Commission
                    upon
                    request.</font></td>
                </tr>

            </table>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div><br></div>
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        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
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            <hr style="COLOR: black" noshade size="2">
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        </div>
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          <div id="GLHDR" style="WIDTH: 100%" align="right">
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{"company-data": {"conformed-name": "FIRST MARINER BANCORP", "cik": "0000946090", "assigned-sic": "6022", "irs-number": "521834860", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21815", "film-number": "051295144"}, "business-address": {"street1": "1801 S CLINTON STREET", "city": "BALTIMORE", "state": "MD", "zip": "21224", "phone": "4103422600"}, "mail-address": {"street1": "1801 S CLINTON ST", "city": "BALTIMORE", "state": "MD", "zip": "21224"}}
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        DC 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)
December
        28, 2005
FIRST
        MARINER BANCORP
(Exact
        name of Registrant as specified in Charter)
Maryland
000-21815
52-1834860
(State
                  or other
                  Jurisdiction
(Commission
                  File
                  Number)
(IRS
                  Employer
                  Identification
of
                  incorporation)
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))
1
INFORMATION
        TO BE INCLUDED IN THE REPORT
Item
        1.01.
Entry
        into a Material Definitive Agreement.
See
        the
        information reported in Item 2.03 of this Current Report on Form 8-K, which
        is
        incorporated herein by reference.
Item
        2.03.
Creation
        of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet
        Arrangement of a Registrant.
Introduction
On
        December 28, 2005 First Mariner Bancorp (the "Company") entered into several
        agreements providing for the private placement of Preferred Securities
        ("Preferred "Securities") by its newly formed Delaware trust subsidiary, Mariner
        Capital Trust VIII (the "Trust"), to Wilmington Trust Company (the "Purchaser").
        The agreements provide for the Trust to sell $10,000,000 of Preferred Securities
        to the Purchaser and $310,000 of Common Securities (the "Common Securities" and
        collectively with the Preferred Securities, the "Securities") to the Company,
        which sales were completed on December 28, 2005. The Trust used the proceeds
        from the sales of the Securities to purchase the Floating Rate Junior
        Subordinated Deferrable Interest Debentures due 2035 described below (the
        "Debentures") from the Company on December 28, 2005.
The
        Preferred Securities have not been registered under the Securities Act of
        1933,
        as amended (the "Securities Act"), and may not be offered or sold in the
        United
        States absent registration or an exemption from the registration requirements.
        This notice does not constitute an offer to sell or the solicitation of an
        offer
        to buy the Preferred Securities.
The
        principal agreements into which the Company has entered in connection with
        these
        transactions are briefly described below.
Placement
        Agreement
On
        December 28, 2005 the Company and the Trust entered into a Placement Agreement
        (the "Placement Agreement") with J.P. Morgan Securities Inc. (the "Placement
        Agent"), who agreed to arrange for the purchase of the Preferred Securities by
        the Purchaser. The Placement Agreement provides for the sale by the Trust
        of the
        Preferred Securities to the Purchaser for a purchase price of $10,000,000.
        The
        Placement Agreement provides that the Company will pay all costs and expenses
        incident to the performance of the obligations of the Company and the Trust
        under the Placement Agreement. The Placement Agreement requires the Company
        and
        the Trust to indemnify the Placement Agent, the Purchaser, the Placement
        Agent's
        affiliates, certain subsequent purchasers of the Preferred Securities identified
        in the Placement Agreement, and the directors, officers, employees, and agents
        of the foregoing and each person who "controls" such persons (within the
        meaning
        of either the Securities Act or the Securities Exchange Act of 1934, as amended)
        against certain losses, claims, damages, and liabilities arising in connection
        with the sale of the Preferred Securities.
2
Indenture
On
        December 28, 2005, the Company entered into an Indenture (the "Indenture") with
        Wilmington Trust Company, as Trustee. The Indenture provides for the issuance
        by
        the Company of Debentures aggregating $10,310,000 in principal amount, which
        Debentures were issued on December 28, 2005 and registered in the name of
        the
        Wilmington Trust Company, the Institutional Trustee on behalf of the Trust.
        The
        Debentures
bear
        interest at a rate per annum of 6.26% through December 30, 2010 and thereafter
        at a rate per annum, reset quarterly, equal to the 3-Month LIBOR plus 1.50%.
Interest
        is payable on each March 30, June 30, September 30, and December 30.
Under
        the
        Indenture, the Company has the option, so long as it is not in default under
        certain specified provisions of the Indenture, at any time and from time
        to
        time, to defer the payment of interest on the Debentures for up to 20
        consecutive quarterly interest payment periods. During any such extension
        period, or while an event of default exists under the Indenture, or if the
        Company is in default with respect to its payment obligations under the
        Guarantee Agreement discussed below, the Indenture imposes restrictions on
        the
        Company's ability to (i) declare or pay dividends or distributions on, or
        redeem, purchase, acquire or make a liquidation payment with respect to,
        any of
        the Company's capital stock, or (ii) make payments of principal, interest or
        premium on, or repay, repurchase or redeem, any debt securities the Company
        may
        issue that rank equal or junior to the Debentures.
The
        Debentures mature on December 30, 2035 and can be redeemed in whole or in
        part
        by the Company, at its option, at 100% of their principal amount plus accrued
        and unpaid interest at any time on or after December 30, 2010. During the
        occurrence and continuance of a Special Event as defined in the Indenture,
        the
        Company may also redeem the Debentures in full, at its option, at 100% of
        their
        principal amount plus accrued and unpaid interest.
The
        Trustee or the holders of at least 25% in aggregate principal amount of
        outstanding Debentures may, by notice to the Company (and in some cases also
        to
        the Trustee), declare the principal amount of all of the Debentures due and
        payable immediately upon the occurrence of certain events of default specified
        in the Indenture.
The
        Indenture requires the Company to indemnify and hold harmless the Trustee,
        its
        Affiliates (as defined in the Indenture), and their officers, agents, directors,
        shareholders, representatives, and employees against all losses, damages,
        and
        other liabilities arising out of or in connection with the acceptance or
        administration of the Trust, to the extent such losses, damages or liabilities
        are incurred without negligence, bad faith or willful misconduct on the part
        of
        the indemnified person.
Amended
        and Restated Declaration of Trust
On
        December 28, 2005, the Company, as Depositor, Wilmington Trust Company, as
        Property Trustee, Wilmington Trust Company, as Delaware Trustee, and Mark
        A.
        Keidel and Eugene A. Friedman, as Administrators, entered into an Amended
        and
        Restated Declaration of Trust (the "Trust Agreement"). Each of the
        Administrators is an officer of the Company.
3
The
        Trust
        Agreement provides for the issuance of the Securities by the Trust. Each
        Security has a liquidation amount of $1,000. The Preferred Securities have
        an
        aggregate liquidation amount of $10,000,000 and the Common Securities have
        an
        aggregate liquidation amount of $310,000. The Trust Agreement provides for
        distributions to be paid on the Securities, based on the liquidation amount
        of
        the outstanding Securities, at the same rates and times as interest is payable
        on the Debentures issued pursuant to the Indenture by the Company to the
        Institutional Trustee.
Guarantee
        Agreement
On
        December 28, 2005, the Company, as Guarantor, entered into a Guarantee Agreement
        with Wilmington Trust Company, as Guarantee Trustee, for the benefit of the
        holders from time to time of the Preferred Securities. Pursuant to the Guarantee
        Agreement, the Company unconditionally agreed to pay (to the extent not paid
        by
        or on behalf of the Trust, and without duplication), amounts due and payable
        under the Preferred Securities, to the extent that the Trust has funds available
        for such payment at the time, as well as all other costs, expenses and
        liabilities (other than tax liabilities) of the Trust. The Company's obligations
        under the Guarantee Agreement are subordinate and junior in right of payment
        to
        all of the Company's Senior Indebtedness as defined in the
        Indenture.
Item
        5.02
Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers
.
Effective
        December 29, 2005 Stephen Burch resigned from the Board of Directors of the
        Company. Mr. Burch's employment commitments require him to relocate to the
        United Kingdom and he believes that his distance from the Company and his
        employment commitments upon relocation will limit the usefulness of his further
        service to the Board.
Item
        9.01.
Financial
        Statements and Exhibits.
(c)
Exhibits.
4
Indenture
                    dated as of December 28, 2005.
Pursuant
                  to Regulation S-K Item 601(b)(4)(iii), the registrant agrees to
                  furnish a
                  copy of the Indenture to the Securities and Exchange Commission
                  upon
                  request.
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:
                  December 30, 2005
By:
/s/ Joseph
                  A. Cicero
Joseph
                  A. Cicero
President
                  and Chief Operating Officer
4
EXHIBIT
        INDEX
Exhibit
Description
4
Indenture
                      dated as of December 28, 2005.
Pursuant
                    to Regulation S-K Item 601(b)(4)(iii), the registrant agrees
                    to furnish a
                    copy of the Indenture to the Securities and Exchange Commission
                    upon
                    request.