UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person WATSON, MICHAEL R FIRST MARINER BANCORP 1801 S. CLINTON STREET BALTIMORE, MD 21224 USA 2. Issuer Name and Ticker or Trading Symbol FIRST MARINER BANCORP FMAR 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year JANUARY 21, 2003 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person

Explanation of Responses: (1) One third of the options are exercisable on the date of grant, one third are exercisable on 1/21/04 and one third are exercisable on 1/21/05. SIGNATURE OF REPORTING PERSON /s/ MICHAEL R. WATSON DATE JANUARY 23, 2003

FIRST MARINER BANCORP 4