Bank of Marin (BMRC) reported $20.98 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 41.7%. EPS of $0.30 for the same period compares to $0.81 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $27.5 million, representing a surprise of -23.71%. The company delivered an EPS surprise of -6.25%, with the consensus EPS estimate being $0.32.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

NOVATO, Calif.--(BUSINESS WIRE)--Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," today announced earnings of $610 thousand for the fourth quarter of 2023, compared to $5.3 million for the third quarter of 2023. Diluted earnings per share were $0.04 for the fourth quarter of 2023, compared to $0.33 for the prior quarter. Full year 2023 earnings were $19.9 million, compared to $46.6 million for 2022. Diluted earnings per share were $1.24 and $2.92 for the years ended ...

The upcoming report from Bank of Marin (BMRC) is expected to reveal quarterly earnings of $0.32 per share, indicating a decline of 60.5% compared to the year-ago period. Analysts forecast revenues of $27.5 million, representing a decrease of 23.5% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it is ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Not Applicable (Former name, former address and formal fiscal year, if changed since last report) Securities registered pursuant to 12(b) of the Act: | --- | --- | |-------------------------|-------| | | | | Large accelerated filer | ☐ | | Non-accelerated filer | ☐ | | Emerging ...

Bank of Marin Bancorp (NASDAQ:BMRC) Q3 2023 Earnings Conference Call October 23, 2023 11:30 AM ET Company Participants Yahaira Garcia-Perea - Marketing and Corporate Communications Manager Tim Myers - President and CEO Tani Girton - EVP and CFO Misako Stewart - Chief Credit Officer Conference Call Participants Jeffrey Rulis - D.A. Davidson David Feaster - Raymond James Woody Lay - KVW Andrew Terrell - Stephens Matthew Clark - Piper Sandler Tim Coffey - Janney Montgomery Scott Operator Good morning, everyone ...

Quoted Prices in Active Markets for Identical Assets (Level 1) Measurement Categories: Changes in Fair Value Recorded In June 30, 2023 Securities available-for-sale: Mortgage-backed securities and collateralized mortgage obligations issued by U.S. government-sponsored agencies $ 449,823 $ — $ 449,823 $ — OCI SBA-backed securities $ 36,649 $ — $ 36,649 $ — OCI Debentures of government sponsored agencies $ 135,868 $ — $ 135,868 $ — OCI U.S. Treasury securities $ 10,334 $ 10,334 $ — $ — OCI Obligations of stat ...

Bank of Marin Bancorp (NASDAQ:BMRC) Q2 2023 Earnings Conference Call July 24, 2023 11:30 AM ET Company Participants Andrea Henderson - Director of Marketing Tim Myers - President and CEO Tani Girton - EVP and CFO Misako Stewart - Chief Credit Officer Conference Call Participants David Feaster - Raymond James Andrew Terrell - Stephens Woody Lay - KBW Jeff Rulis - D.A. Davidson Matthew Clark - Piper Sandler Andrea Henderson Thank you for joining Bank of Marin Bancorp's Earnings Call for the Second Quarter End ...

FORM 10-Q (Mark One) For the transition period from __________________ to __________________ | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------|-----------------------------------------|----------|-------|-------|--------------------------------------------------------| | (State or other jurisdiction of incorporation or organization) \n504 Redwood Blvd. | California \nSuite 100 | \nNovato | | CA | 20-8859754 \n(IRS Employer Identificat ...

April 24, 2023 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 Exchange Act of 1934, as amended, (the "1934 Act"). Those sections of the 1933 Act and 1934 Act provide a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about their financial performance so long as they provide meaningful, cautionary statem ...

Financial Data and Key Metrics Changes - The company reported net income of $9.4 million for Q1 2023, translating to $0.59 per diluted share, a decrease from the previous quarter due to increased interest rates on deposits and higher borrowing balances [17][38] - The average cost of deposits increased to 20 basis points, up from 8 basis points in the prior quarter, with a notable rise to 40 basis points in March [11][38] - The efficiency ratio rose to 60.24% from 50.92% in the previous quarter, attributed to higher interest and non-interest expenses [19] Business Line Data and Key Metrics Changes - Total non-accrual loans decreased to just 10 basis points of total loans, with an allowance for credit loss representing 1.1% of total loans [12] - Loans grew by $20 million or just under 1% during the quarter, with a focus on maintaining credit quality despite easing loan demand [32] Market Data and Key Metrics Changes - The company experienced a 9% decrease in deposits, amounting to $323 million, primarily due to customer cash needs and deposit movements to outside brokerage firms [28] - Approximately 67% of deposits are FDIC insured, with liquidity at roughly $1.9 billion, covering uninsured deposits by approximately 181% [10] Company Strategy and Development Direction - The company is focused on managing its balance sheet to drive margins while maintaining credit quality and operating efficiency, with a strategic emphasis on relationship banking and disciplined fundamentals [36][42] - The company is looking for opportunities to optimize its physical footprint through branch consolidations, which are expected to generate savings for reinvestment in talent and technology [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of regional bank failures on depositors' confidence but noted that deposit levels have stabilized since mid-April [27][29] - The company is optimistic about its ability to navigate current economic challenges, citing a strong historical track record and robust liquidity risk management practices [20][56] Other Important Information - The company declared a cash dividend of $0.25 per share, marking the 72nd consecutive quarterly dividend [38] - The tangible common equity ratio improved to 8.7% for Bancorp, up from 8.2% in the previous quarter, driven by earnings and improvements in the available-for-sale securities portfolio [40] Q&A Session Summary Question: What is the outlook for the net interest margin? - Management indicated that the net interest margin is expected to face pressure due to increased deposit costs, but there is a slight upward trend as assets continue to reprice [88] Question: How has the deposit mix changed since March? - The deposit mix has remained stable, with non-interest-bearing deposits accounting for just over 50% of total deposits [30][98] Question: What are the expected savings from branch closures? - Expected savings from branch closures are estimated at $470,000 for 2023 and $1.4 million annually thereafter [48][55] Question: How is the loan pipeline looking? - The loan pipeline is building evenly across the footprint, with competitive pricing observed in the market [72] Question: What is the company's appetite for share buybacks? - The company is cautious about share buybacks due to concerns around credit risk and is monitoring the market closely [151]