Financial Data and Key Metrics Changes - The company generated net income of $2.9 million for Q1 2024, or $0.18 per diluted share, compared to net income of $610,000 or $0.04 per share in Q4 2023, with a significant increase attributed to losses on securities sales in the previous quarter [28][29] - The total risk-based capital ratio improved to 17.05% at quarter end compared to 16.89% at the close of 2023, indicating a strengthening capital position [19] - The average cost of deposits increased by 23 basis points to 1.38% in Q1 compared to a 21 basis point increase in the prior quarter, reflecting ongoing pressures in the deposit market [3][15] Business Line Data and Key Metrics Changes - Loan originations in Q1 were $12.4 million, offset by payoffs of $21.8 million, resulting in a decrease in loan balances to $2.1 billion, down $18.8 million from the prior quarter [5][10] - Noninterest income was stable at $2.8 million quarter-over-quarter, excluding a $5.9 million loss on the sale of AFS securities [1] - The provision for credit losses was $350,000 in Q1, down from $1.3 million in the previous quarter, bringing the allowance for credit losses to 1.24% of total loans [4] Market Data and Key Metrics Changes - Total deposits remained stable at $3.28 billion, with noninterest-bearing deposits increasing slightly to 44% of total deposits from 43.8% at the end of 2023 [3][17] - The company experienced seasonal outflows in Q1, typical for the period, but managed to attract new customers, resulting in a net inflow of $97 million across various deposit types [17][78] Company Strategy and Development Direction - The company is focused on maintaining a relationship-based banking model, enhancing client acquisition through new hires, and leveraging technology to improve service delivery [10][11] - There is an ongoing evaluation of the physical footprint and optimization opportunities to manage expenses while investing in talent and technology [11][115] - The company aims to accelerate net interest income expansion and improve efficiency through strategic adjustments across its balance sheet [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan growth and margin expansion, citing a favorable mix of deposits and a strong foundation for profitability in the coming quarters [9][10] - The company is closely monitoring credit quality, with non-accrual loans at just 0.31% of total loans, down from 0.39% in the prior quarter, indicating strong credit management practices [116] - Management acknowledged the challenges posed by higher interest rates and economic uncertainty but remains committed to strengthening the core deposit franchise and maintaining robust liquidity [27][28] Other Important Information - The company declared a cash dividend of $0.25 per share, marking the 76th consecutive quarterly dividend [29] - The company is actively considering stock buybacks and other capital management strategies to enhance shareholder value [6][70] Q&A Session Summary Question: What are the expectations for loan growth in the current environment? - Management indicated that while loan originations were lower in Q1, there is a higher level of interest and activity as clients adapt to the higher rate environment, suggesting potential for future growth [55][132] Question: How is the company managing credit quality amid current challenges? - Management emphasized a proactive approach to credit management, with ongoing discussions with borrowers to address classified loans and ensure strong oversight [133] Question: What are the implications of the recent increase in deposit costs? - Management acknowledged the increase in deposit costs but noted a trend of stabilization and a focus on maintaining competitive deposit pricing [18][65]

For the quarter ended March 2024, Bank of Marin (BMRC) reported revenue of $25.45 million, down 22.5% over the same period last year. EPS came in at $0.18, compared to $0.59 in the year-ago quarter.The reported revenue represents a surprise of -5.40% over the Zacks Consensus Estimate of $26.9 million. With the consensus EPS estimate being $0.28, the EPS surprise was -35.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Bank of Marin (BMRC) came out with quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -35.71%. A quarter ago, it was expected that this bank holding company would post earnings of $0.32 per share when it actually produced earnings of $0.30, delivering a surprise of -6.25%.Over the last four quarters, ...

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 FIRST QUARTER EARNINGS OF $2.9 MILLION NON-INTEREST BEARING DEPOSIT GROWTH AND PROACTIVE CREDIT RISK MANAGEMENT NOVATO, CA, April 29, 2024 - Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $2.9 million for the first quarter of 2024, compared to $610 t ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Bank of Marin Bancorp (BMRC) is a holding company for Bank of Marin. The Zacks Consensus Estimate for its current year earnings has been revised 12.8% downward over the last 60 days.Capri Holdings Limited (CPRI) is a fashion retailer. The Zacks Consensus Estimate for its current year earnings has been revised 21.7% downward over the last 60 days.CareMax, Inc. (CMAX) is a healthcare services provider.The Zacks Consensus Estimate for it ...

FORM 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Bank of Marin Bancorp (Exact name of Registrant as specified in its charter) Securities registered pursuant to Section 12 (b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common Stock, No Par Value BMRC The Nasdaq Stock Market Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant ...

NOVATO, Calif.--(BUSINESS WIRE)--Bank of Marin Bancorp (NASDAQ: BMRC) and Bank of Marin, its wholly owned subsidiary, announce the retirement of Robert Heller from its board of directors effective May 13, 2024. Heller joined both Bank of Marin Bancorp and Bank of Marin boards in 2005. “ It has been a great pleasure to serve on the boards of Bank of Marin and Bank of Marin Bancorp, the preeminent community banking institution of northern California, for the last two decades. During this time, the Bank grew ...

Financial Data and Key Metrics Changes - The company reported a net income of $610,000 in Q4 2023, or $0.04 per diluted share, compared to $5.3 million, or $0.33 per share in Q3 2023 [119] - The average cost of deposits increased by 21 basis points in Q4 to 1.15%, continuing the deceleration from the previous quarter [87] - Total risk-based capital ratio improved to 16.89% at year-end, compared to 16.56% at September 30 [104] Business Line Data and Key Metrics Changes - Loan originations improved from $22.7 million in Q3 to $53.8 million in Q4, largely offset by payoffs and strategic exits [102] - Non-interest expenses declined 2% from the prior quarter to $19.3 million, down from $19.7 million [28] - Classified loans comprised 1.56% of total loans at year-end, an improvement from 1.9% at the end of Q3 [41] Market Data and Key Metrics Changes - Non-interest-bearing deposits remained strong at 44% of total deposits, with outflows primarily due to seasonal business activities [87] - The company experienced a $5.9 million pretax net loss on the sale of investment securities, impacting net income by $4.2 million [89] - The deposit base is well diversified, with businesses representing 59% of total deposit balances [47] Company Strategy and Development Direction - The company is focused on enhancing profitability through strategic balance sheet repositioning and maintaining strong capital and liquidity levels [92][104] - There is an ongoing emphasis on relationship-based banking to maintain an attractive deposit mix and healthy liquidity levels [93] - The company is actively looking for opportunities to grow the loan portfolio while managing credit risk [102][108] Management's Comments on Operating Environment and Future Outlook - Management noted that the current interest rate risk position will support increased profitability in the year ahead amid a potentially higher for longer interest rate environment [81] - The company expects to see further margin improvement in the coming quarters due to the full effect of balance sheet restructuring and natural repricing of the existing loan book [119] - Management remains optimistic about the loan pipeline and is seeing a loosening of market sentiment regarding borrowing [117] Other Important Information - The company declared a cash dividend of $0.25 per share, marking the 75th consecutive quarterly dividend [30] - The average balance per account on the deposit base decreased by $5,000 over the quarter, with the largest depositor representing just 1.7% of total deposits [131] Q&A Session All Questions and Answers Question: What drove the increase to special mention loans in the quarter? - Management indicated that the increase was due to a more aggressive approach in monitoring loans, moving those without improvement into special mention status [9][10] Question: Can you break out the larger segments represented in the classified balance? - The largest loan in the classified balance is an office building in San Francisco, which makes up nearly half of that balance, and continues to pay as agreed [16][17] Question: What is the outlook for non-interest expense growth? - Management indicated that while they are mindful of expenses, they are also looking to make hires and invest in technology to streamline operations [20][37]

Forward-Looking Statements This presentation includes some non-GAAP financial measures as shown in the Appendix of this presentation. Please refer to the reconciliation of GAAP to Non-GAAP financial measures included in our Form 8-K under Item 9 - Financial Statements and Exhibit 99.1 filed with the SEC on January 29, 2024. 1Weighted average rates for securities and loans. Tax-equivalent average interest yield for cash and cost for borrowings. 2See Reconciliation of Non-GAAP Financial Measures in the Append ...

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 ...