Bank of Marin Bancorp - Common Stock (BMRC)

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," today announced earnings of $6.0 million for the fourth quarter of 2024, compared to $4.6 million for the third quarter of 2024. Diluted earnings per share were $0.38 for the fourth quarter of 2024, up 35.71% compared to $0.28 for the prior quarter.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its fourth quarter earnings call via webcast on Monday, January 27, 2025, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp (Nasdaq: BMRC) and its wholly owned subsidiary Bank of Marin, today announced that Executive Vice President, Chief Financial Officer, and Principal Accounting Officer Tani Girton will retire effective January 31, 2025, following a planned transition period. Dave Bonaccorso, age 49, who currently serves as the Bank’s treasurer, has been named her successor. Bonaccorso will assume the chief financial officer and principal accounting officer roles on January 2, 2025, continuing to work closely with Girton to ensure a smooth transition.

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 net loss of $21.9 million for the second quarter of 2024. Diluted earnings per share was $0.28 for the third quarter, compared to a net loss per share of $(1.36) for the prior quarter. Net loss for the first nine months of 2024 totaled $14.4 million, compared to net income of $19.3 million for the same period last year. Diluted (loss) earnings per share were $(0.90) and $1.20 for the first nine months of 2024 and 2023, respectively. Year-to-date 2024 results reflected a $32.5 million pretax loss from the balance sheet restructuring in the second quarter.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its third quarter earnings call via webcast on Monday, October 28, 2024, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced a net loss of $21.9 million for the second quarter of 2024, compared to net income of $2.9 million for the first quarter of 2024. Diluted loss per share was $(1.36) for the second quarter, compared to earnings per share of $0.18 for the prior quarter. Net loss for the first six months of 2024 totaled $19.0 million, compared to net income of $14.0 million for the same period last year. Diluted (loss) earnings per share were $(1.18) and $0.87 for the first six months of 2024 and 2023, respectively. Both the second quarter and six months of 2024 results reflected a $32.5 million pretax loss from the previously announced balance sheet restructuring and a $5.2 million pre-tax provision for credit losses on loans.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its second quarter earnings call via webcast on Monday, July 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin, the wholly owned subsidiary of Bank of Marin Bancorp (Nasdaq: BMRC), announced today that it sold $293 million in available-for-sale securities (AFS) as part of a strategy designed to improve future earnings, drive earnings per share (EPS) growth, and increase its return on equity.

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 thousand for the fourth quarter of 2023 and $9.4 million for the first quarter of 2023. Diluted earnings per share were $0.18 for the first quarter, compared to $0.04 for the prior quarter and $0.59 for the first quarter of 2023. Net interest margin compression due to the rapid rise in interest rates this cycle is clearly evident in the comparison of 2024 and 2023 first quarter earnings. In addition, prior quarter results reflected a $5.9 million pretax loss from balance sheet restructuring.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its first quarter earnings call via webcast on Monday, April 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp (NASDAQBMRC) 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.

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 December 31, 2023 and December 31, 2022, respectively. Major drivers of the decrease in fourth quarter earnings were a $5.9 million pretax net loss on the sale of investment securities in an unrealized loss position as part of our strategic balance sheet restructuring, which reduced net income by $4.2 million, or $0.26 per share, and an $875 thousand increase in the pre-tax credit loss provision, both of which are discussed in more detail below.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its fourth quarter earnings call via webcast on Monday, January 29, 2024, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $5.3 million for the third quarter of 2023, compared to $4.6 million for the second quarter of 2023. Diluted earnings per share were $0.33 for the third quarter, compared to $0.28 for the prior quarter. Earnings for the first nine months of 2023 totaled $19.3 million, compared to $33.7 million for the same period in 2022. Diluted earnings per share were $1.20 and $2.11 for the first nine months of 2023 and 2022, respectively. Earnings reported for 2022 were impacted by the costs associated with our most recent acquisition, the details of which were discussed in previous filings.

The Board of Directors for Bank of Marin Bancorp (NASDAQBMRC), parent company of Bank of Marin, is pleased to announce the appointment of Cigdem Gencer to its board of directors. Gencer's appointment, which is effective October 20, 2023, increases the Board membership to thirteen directors.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its third quarter earnings call via webcast on Monday, October 23, 2023, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp (Nasdaq: BMRC) and its wholly owned subsidiary, Bank of Marin, announce executive leadership changes including the appointment of David Bloom as Head of Commercial Banking and Nikki Sloan as the Head of Growth & Strategy, a newly created role at the Bank.

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $4.6 million for the second quarter of 2023, compared to $9.4 million for the first quarter of 2023. The decline in earnings stemmed from the cost of interest bearing deposits catching up to market interest rates and higher average balances on borrowings. Diluted earnings per share were $0.28 for the second quarter, compared to $0.59 for the prior quarter. Earnings for the first six months of 2023 totaled $14.0 million, compared to $21.5 million for the same period last year. Diluted earnings per share were $0.87 and $1.35 for the first six months of 2023 and 2022, respectively. Periods of earnings presented from 2022 were impacted by the costs associated with our most recent acquisition, the details of which were discussed in previous filings.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its second quarter earnings call via webcast on Monday, July 24, 2023, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $9.4 million in the first quarter of 2023, compared to $12.9 million in the fourth quarter of 2022 and $10.5 million in the first quarter of 2022. The decline in earnings was a result of higher interest expense reflecting higher market interest rates on a lagged basis. Diluted earnings per share were $0.59 in the first quarter, compared to $0.81 in the prior quarter, and $0.66 in the same quarter last year.

Bank of Marin Bancorp (Nasdaq: BMRC) will present its first quarter earnings call via webcast on Monday, April 24, 2023, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $12.9 million in the fourth quarter of 2022, compared to $12.2 million in the third quarter of 2022. Diluted earnings per share were $0.81 in the fourth quarter of 2022, compared to $0.76 in the prior quarter and $0.61 the same quarter a year ago. Annual earnings were $46.6 million in 2022, compared to $33.2 million in 2021. Diluted earnings per share were $2.92 for the year ended December 31, 2022, compared to $2.30 per share for the year ended December 31, 2021. Certain periods of earnings presented were impacted by the costs associated with our acquisition of American River Bankshares ("AMRB"), the details of which are discussed in this release. In particular, non-GAAP diluted earnings per share for full-year 2022 was $2.96 per share, compared to $2.64 for 2021 without those costs (refer below for a discussion of this non-GAAP financial measure).

Bank of Marin Bancorp (Nasdaq: BMRC) will present its fourth quarter earnings call via webcast on Monday, January 23, 2023, at 8:30 a.m. PT/11:30 a.m. ET.

Bank of Marin Bancorp, “Bancorp” (Nasdaq: BMRC), parent company of Bank of Marin, “Bank,” announced record earnings of $12.2 million for the third quarter, compared to $11.1 million for the second quarter of 2022. Diluted earnings per share were $0.76 for the third quarter, compared to $0.69 for the preceding quarter. Earnings for the first nine months of 2022 totaled $33.7 million, compared to $23.5 million for the same period last year. Diluted earnings per share were $2.11 and $1.69 for the first nine months of 2022 and 2021, respectively. Certain periods of earnings presented were impacted by the costs associated with our acquisition of American River Bank (“ARB”), the details of which are discussed in this release. In particular, non-GAAP diluted earnings per share for the first nine months of 2022 would have increased by 16 cents per share over 2021 without those costs (refer to pages 2 and 3 for a discussion of this non-GAAP financial measure).

Bank of Marin Bancorp (Nasdaq: BMRC) will present its third quarter earnings call via webcast on Monday, October 24, 2022, at 8:30 a.m. PT/11:30 a.m. ET.