Compared to Estimates, Bank of Marin (BMRC) Q2 Earnings: A Look at Key Metrics

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]