Core Insights - Bank of Marin (BMRC) is expected to report quarterly earnings of $0.34 per share, reflecting a year-over-year increase of 13.3% [1] - Anticipated revenues for the quarter are projected at $28.4 million, which represents a 35.3% increase compared to the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' projections [1] Financial Metrics - Analysts predict the 'Efficiency Ratio' will reach 70.6%, a significant improvement from the previous year's value of 91.9% [4] - The 'Average Balance - Total interest earning assets' is estimated to be $3.56 billion, slightly down from $3.78 billion a year ago [4] - The consensus estimate for 'Total non-accrual loans' is $40.87 million, compared to $7.99 million reported in the same quarter last year [4] - 'Net interest income' is projected at $25.43 million, up from $24.26 million year-over-year [5] - 'Net Interest Income (FTE)' is expected to reach $25.49 million, compared to $24.46 million from the previous year [5] Market Performance - Bank of Marin shares have experienced a -0.7% change in the past month, contrasting with the Zacks S&P 500 composite's +2.1% performance [6] - With a Zacks Rank 2 (Buy), BMRC is anticipated to outperform the overall market in the near term [6]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Bank of Marin (BMRC) due to higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The earnings report is expected on January 27, 2025, with a consensus EPS estimate of $0.34, reflecting a +13.3% year-over-year change, and revenues projected at $28.4 million, up 35.4% from the previous year [3][4]. Estimate Revisions - The consensus EPS estimate has been revised 2.15% higher in the last 30 days, indicating a positive reassessment by analysts [4][10]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +6.67% for Bank of Marin, suggesting a strong likelihood of beating the consensus EPS estimate [10][11]. Historical Performance - In the last reported quarter, Bank of Marin had an earnings surprise of +3.70%, with only one earnings beat in the last four quarters [12][13]. Industry Comparison - East West Bancorp (EWBC), another player in the Zacks Banks - West industry, is expected to post earnings of $2.13 per share, indicating a +5.5% year-over-year change, with revenues projected at $654.31 million, down 0.1% from the previous year [17][18].

Financial Performance - Net income for Q3 2024 was $4.6 million, a significant recovery from a net loss of $21.9 million in Q2 2024, with diluted earnings per share at $0.28 compared to a loss per share of $(1.36) in the previous quarter [144]. - Net income for the three months ended September 30, 2024, was $4,570,000, compared to a net loss of $21,902,000 for the previous quarter [234]. - Comparable diluted earnings per share (non-GAAP) for the three months ended September 30, 2024, was $0.28, up from $0.06 in the previous quarter [234]. - Return on average assets (GAAP) improved to 0.48% for the three months ended September 30, 2024, compared to a negative 2.35% for the three months ended June 30, 2024 [234]. - Return on average equity (GAAP) was 4.17% for the three months ended September 30, 2024, recovering from a negative 20.36% for the three months ended June 30, 2024 [234]. Interest Income and Margin - Net interest income for Q3 2024 totaled $24.3 million, an increase of $1.8 million from the previous quarter due to a favorable reallocation of earning assets [169]. - The tax-equivalent net interest margin improved to 2.70% in Q3 2024, up from 2.52% in the prior quarter, driven by higher average cash and loan balances [170]. - For the first nine months of 2024, net interest income was $69.4 million, down from $78.5 million in the same period last year, primarily due to a smaller balance sheet and higher deposit costs [171]. - The tax-equivalent net interest margin for the first nine months of 2024 was 2.57%, compared to 2.66% for the same period in 2023, with higher deposit costs reducing the margin by 77 basis points [172]. Deposits and Loans - Total deposits rose by $19.2 million to $3.309 billion as of September 30, 2024, with non-interest bearing deposits comprising 44.5% of total deposits [147]. - Loan balances increased to $2.090 billion, with additions totaling $140.4 million in the first nine months of 2024, compared to $90.3 million for the same period in 2023 [150]. - Total loans increased to $2.090 billion as of September 30, 2024, up from $2.074 billion at December 31, 2023, reflecting a growth of $16.4 million [203]. - Non-accrual loans increased to $39.9 million, or 1.91% of total loans, as of September 30, 2024, compared to $8.0 million, or 0.39% at December 31, 2023 [152]. Credit Losses and Provisions - A provision for credit losses on loans was $5.6 million in the first nine months of 2024, compared to $1.3 million for the same period last year, raising the allowance for credit losses to 1.47% of total loans [151]. - There was no provision for credit losses on loans in Q3 2024, while a provision of $5.2 million was recorded in Q2 2024 [178]. - The allowance for credit losses on loans increased by $5.5 million for the nine months ended September 30, 2024, compared to $1.3 million for the same period in 2023 [179]. Non-Interest Income and Expenses - Non-interest income decreased to $2,888,000 from $(29,755,000) in the previous quarter [159]. - Non-interest income for the third quarter of 2024 was $2.9 million, a significant recovery from a loss of $29.8 million in the prior quarter, primarily due to a $32.5 million pre-tax net loss on the sale of investment securities in the second quarter [186]. - Total non-interest expense decreased to $20.4 million in the third quarter of 2024 from $21.9 million in the prior quarter, primarily driven by a $1.5 million reduction in salaries and related benefits [191]. Capital and Liquidity - Bancorp's tangible common equity to tangible assets (TCE ratio) was 9.72% as of September 30, 2024, with a share repurchase of $4.2 million during the quarter, increasing book value per share to $27.17 [155]. - The total risk-based capital ratio for Bancorp was 16.40% at September 30, 2024, down from 16.89% at December 31, 2023, due to losses on securities sales [216]. - Net available contingent funding sources totaled $1.934 billion, which is 58% of total deposits and 208% of estimated uninsured deposits as of September 30, 2024 [222]. - Cash and cash equivalents increased by $198.7 million in the first nine months of 2024, with significant liquidity sources including $355.9 million from investment securities [225]. Market Conditions and Regulatory Environment - The Federal Reserve lowered the target federal funds rate by 50 basis points to a range of 4.75% to 5.00% in September 2024, indicating potential further rate cuts [176]. - The company is continuously monitoring market rates to enhance performance and returns to shareholders [176].

Financial Data and Key Metrics Changes - The company reported a net income of $4.6 million for Q3 2024, translating to $0.28 per share, reflecting the benefits of balance sheet restructuring [11] - Net interest income increased by 8% from the prior quarter to $24.3 million, driven by an 18 basis point increase in net interest margin [12][13] - Non-interest expense decreased by $1.5 million from the prior quarter, primarily due to staff reductions and reallocation of resources [14] Business Line Data and Key Metrics Changes - Total loan commitments generated during the quarter amounted to $44 million, with $28 million funded, leading to a slight increase in total loan balances [7] - The company experienced positive trends in fee income, with total deposits increasing by $96 million, largely from a $55 million rise in non-interest-bearing deposits [8][15] - Loan balances reached $2.1 billion at the end of Q3, up $8 million from the previous quarter, with growth primarily in residential mortgages [19] Market Data and Key Metrics Changes - The proportion of non-interest-bearing deposits increased slightly to 45% of total deposits, benefiting from the relationship banking model [8] - The average cost of total deposits rose by just 1 basis point in Q3, indicating a deceleration in deposit cost increases [16] Company Strategy and Development Direction - The company is focused on strengthening its core deposit franchise and maintaining robust liquidity and capital levels while enhancing customer service [11] - There is an emphasis on disciplined credit management and maintaining a diversified loan pipeline, with expectations for increased loan production in Q4 [23][24] - The company plans to continue investing in talent and technology to improve efficiency and customer experience [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the loan portfolio, with no new significant problem loans reported [6][9] - The company anticipates further improvements in profitability due to proactive balance sheet management and expense control [21] - There is an expectation of continued declines in deposit costs, contributing to net interest margin expansion as the yield curve normalizes [22] Other Important Information - The total risk-based capital ratio stands at 16.4%, with a tangible common equity ratio of 9.72%, indicating strong capital levels [9] - The company declared a cash dividend of $0.25 per share, marking the 78th consecutive quarterly dividend [19] Q&A Session Summary Question: Update on expense expectations for Q4 - Management indicated that expense savings from staffing restructures are ahead of expectations, with some costs still to be filled [28][29] Question: Impact of rate cuts on margin outlook - Management noted that while there are headwinds from interest reversals, they expect a positive impact on margins from proactive deposit strategies [30][31] Question: Comfort level with share buybacks - Management expressed confidence in credit quality and capital ratios, leading to the decision to resume share repurchases [32] Question: Specifics on expense run rate for Q4 - Management indicated that they expect expenses to be flat to down in Q4, excluding non-repeatable legal costs [49][50] Question: Loan growth and opportunities - Management acknowledged a slowdown in originations but expressed optimism about the pipeline and activity levels [41][42] Question: Core deposit growth and seasonal impacts - Management clarified that seasonal inflows contributed to deposit growth, alongside new account openings [47][48]

// Bank of Marin Bancorp- Third Quarter 2024 Earnings Presentation O c t o b e r 2 8 , 2 0 2 4 Forward-Looking Statements Text 95,96,96 White 255, 255, 255 Black 0, 0, 0 Light Gray 232, 232, 232 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 This discussion of financial results includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "1933 Act") and Section 21E of the Securities E ...

For the quarter ended September 2024, Bank of Marin (BMRC) reported revenue of $27.16 million, up 0.3% over the same period last year. EPS came in at $0.28, compared to $0.33 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $27.3 million, representing a surprise of -0.52%. The company delivered an EPS surprise of +3.70%, with the consensus EPS estimate being $0.27. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Bank of Marin (BMRC) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.70%. A quarter ago, it was expected that this bank holding company would post earnings of $0.19 per share when it actually produced earnings of $0.06, delivering a surprise of -68.42%.Over the last four quarters, t ...

EXHIBIT 99.1 FOR IMMEDIATE RELEASE MEDIA CONTACT: Yahaira Garcia-Perea Marketing & Corporate Communications Manager 916-823-7214 | YahairaGarcia-Perea@bankofmarin.com BANK OF MARIN BANCORP REPORTS THIRD QUARTER FINANCIAL RESULTS STRATEGIC ACTIONS TAKEN IN FIRST HALF OF 2024 RESULT IN IMPROVED PROFITABILITY NOVATO, CA, October 28, 2024 - Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced net income of $4.6 million for the third quarter of 2024, compared to a n ...

DA Davidson analyst upgraded Bank of Marin Bancorp BMRC to Buy from Neutral and raised the price target to $24 from $21. The analyst writes that the Fed's potential shift to lower rates has enhanced their earnings outlook for BMRC and led to the belief that the bank's credit risks have somewhat diminished. Consequently, the analyst increased the 2025 EPS estimate by 10%, primarily due to a more optimistic forecast for NIM/NII. Furthermore, the anticipated relief from interest rates is expected to alleviate ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number 001-33572 Bank of Marin Bancorp (Exact name of Registrant as specified in its charter) | --- | ...