Ed Hale (businessman)

Edwin F. Hale Sr. (born 1946/1947)^[1] is an American businessman and former banker who founded 1st Mariner Bank in 1995 and served as its chairman and chief executive officer until 2011. He owns the Baltimore Blast indoor soccer team. In 2015, Hale disclosed he covertly worked with the Central Intelligence Agency during the 1990s and early 2000s.

Ed Hale
Hale in 2016
Personal details
Born	1946 or 1947 (age 78–79)
Political party	Democratic

Early life and education

Edwin F. Hale Sr. was raised outside of Baltimore.^[2] He attended two years of community college.^[2]

Career

Hale began his business career at the Port of Baltimore, where he founded Hale Intermodal Trucking Co.^[2] He expanded his business interests to include trucking and barge companies.^[3] In 1991, Hale spent $1.4 million to initiate a proxy battle for control of the Bank of Baltimore, which resulted in his appointment as chief executive.^[3] In 1994, he and the board sold the Bank of Baltimore to a New Jersey bank.^[3]

In May 1995, Hale founded First Mariner Bancorp, a holding company for 1st Mariner Bank, based in Baltimore.^[3] The bank had $1.2 billion in assets and operated 24 branches in the Baltimore region by 2011.^[2] Hale served as chief executive officer (CEO) and chairman of the company.^[2] The 2008 financial crisis adversely affected the bank, which faced losses due to faulty loans and was ordered by federal regulators in 2009 to increase its capital levels.^[3] Hale personally invested funds in the bank and sought additional capital without success.^[2] In 2011, Hale stepped down as chairman and CEO as part of a $36.4 million investment agreement with Priam Capital Fund I LP, which required leadership changes in exchange for recapitalization.^[2] After leaving the bank, Hale stated that he would likely no longer have an operational role but expected to remain a major shareholder.^[2]

Hale served as chairman of Visit Baltimore, the city's convention and tourism agency, beginning in 2006.^[2] He has also been involved in real estate development, including a project at Canton Crossing, where 31 acres were sold to BCP Investors LLC.^[2]

In 1998, Hale purchased the Baltimore Blast, a professional indoor soccer team.^[4] He had also been an owner of the original Baltimore Blast (1980–1992), a Major Indoor Soccer League team in the early 1980s.^[4] Under his ownership, the team played in five different leagues through 2016.^[4] In February 2016, Hale announced plans to remove the team from the Major Arena Soccer League and establish a new Indoor Professional League, with headquarters in Baltimore County, Maryland and himself as the franchisor.^[4]

In 2015, Hale disclosed that he worked covertly for the Central Intelligence Agency (CIA) for nearly a decade during the 1990s and early 2000s.^[3] He stated that he allowed the CIA to create a fictitious company under his corporate umbrella to be used as cover for field operatives.^[3] According to Hale, he spoke with a CIA handler between 30 and 50 times per year and traveled to several countries, including Saudi Arabia, Poland, Denmark, and Norway, reporting economic conditions to the agency upon his return.^[3] He also claimed involvement in a canceled operation in Georgia in 1998 concerning the purchase of ships for intelligence purposes. Hale said his role with the CIA ended after the September 11 attacks.^[3]

Personal life

Hale has been divorced twice.^[3] He stated that he began sleeping with a sawed-off shotgun by his bed during his time assisting the CIA, due to concerns that his name might be exposed if agents were caught.^[3]

He has two daughters and a son.^[5] Hale said he commissioned his biography, titled Hale Storm, in part to explain his absences during their upbringing.^[3] He reported that his relationships with his daughters improved after the book was published.^[3] Hale owns a 186-acre farm.^[3]