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) | --- | ...

Bank of Marin (BMRC) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. Analysts' growing optimism on the earnings prospects of this bank holding company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-te ...

Bank of Marin Bancorp (NASDAQ:BMRC) Q2 2024 Earnings Conference Call July 29, 2024 11:30 AM ET Company Participants Krissy Meyer - Corporate Secretary Tim Myers - President and CEO Tani Girton - EVP and CFO Misako Stewart - Chief Credit Officer Conference Call Participants Matthew Clark - Piper Jaffray Andrew Terrell - Stephens Woody Lay - KBW David Feaster - Raymond James Tim Coffey - Janney Krissy Meyer Good morning, and thank you for joining Bank of Marin Bancorp's Earnings Call for the Second Quarter en ...

Core Insights - The company reported a revenue of $25.25 million for the quarter ended June 2024, reflecting a year-over-year decline of 6% [5] - Earnings per share (EPS) for the same period was $0.06, down from $0.28 a year ago, indicating a significant decrease in profitability [5] - The reported revenue was below the Zacks Consensus Estimate of $25.85 million, resulting in a revenue surprise of -2.31% [3] - The company experienced an EPS surprise of -68.42%, with the consensus EPS estimate being $0.19 [3] Financial Metrics - Net interest margin (FTE) was reported at 2.5%, slightly below the estimated 2.6% [2] - The efficiency ratio was reported at -300.4%, significantly worse than the average estimate of 80.8% [2] - Average balance of total interest-earning assets was $3.56 billion, compared to the estimated $3.60 billion [2] - Total non-accrual loans amounted to $33.68 million, far exceeding the average estimate of $6.67 million [2] - Net interest income was reported at $22.47 million, below the average estimate of $22.88 million [2] - Total non-interest income was $2.79 million, slightly above the estimated $2.77 million [2] - Net interest income (FTE) was $22.64 million, compared to the average estimate of $23.06 million [2] Stock Performance - Shares of Bank of Marin have returned +38.1% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.2% change [4] - The stock currently holds a Zacks Rank 1 (Strong Buy), suggesting potential for outperformance in the near term [4]