Press Release

Approval of the Application by Mariner's Bancorp

April 15, 2004

NEW YORK—The Federal Reserve Bank of New York today approved the application by Mariner’s Bancorp, Edgewater, New Jersey, to become a bank holding company by acquiring Mariner’s Bank, Edgewater, New Jersey.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.