Bank of Marin Bancorp(US:BMRC)2025-07-28 15:30Financial Performance - The company reported a net loss of $8.5 million, or ($0.53) diluted EPS, for Q2 2025, but excluding the loss on the sale of securities, net income would have been $4.7 million, or $0.29 EPS, using a blended statutory tax rate of 29.56%[8] - Tax-equivalent net interest margin increased to 2.93% from 2.86%, primarily due to new loan production at higher rates[8] - The company sold $185.8 million in AFS securities, resulting in a pre-tax loss of $18.7 million, but expects a 13bp increase in annualized NIM and $0.20 EPS accretion over 4 quarters with a 4-year earnback[8] Capital & Liquidity - The company's total risk-based capital remained strong at 16.25%[8] - The company repurchased $2.2 million in shares during Q2 2025[8, 18] - The company has $1.9 billion in immediately available net funding, representing 200% coverage of estimated uninsured deposits[8, 20] Deposits & Loans - Total deposits decreased by $56.9 million, with non-interest bearing deposits remaining a strong 42.5% of total deposits[8] - The company originated $68.8 million in new loans, including $49.1 million in commercial loans[8] - Non-accrual loans decreased to 1.57% of total loans from 1.59% in the prior quarter, while classified loans increased to 2.95% of total loans[8] Loan Portfolio - The company's loan portfolio is well-diversified, with non-owner occupied commercial real estate (NOO-CRE) representing 62% of the $2.1 billion total loan portfolio[38] - Within the NOO-CRE portfolio, office properties account for 28% of the $1.3 billion, while retail, warehouse & industrial, and multi-family properties represent 19%, 12%, and 15% respectively[38] - The company's non-owner occupied (NOO) CRE office exposure in the City of San Francisco is $61.1 million, representing 3% of the total loan portfolio and 5% of total NOO CRE loans[52, 53]