Bank Marin Bancorp Stock Price, News & Analysis

Bank of Marin (Nasdaq: BMRC) has announced a strategic balance sheet repositioning initiative aimed at enhancing future earnings. The bank has sold $186 million of available-for-sale (AFS) securities, which had an average yield of 1.96%.

The transaction will result in an estimated pre-tax loss of $19 million to be recorded in Q2 2025. However, the sale proceeds have been fully reinvested at a higher average yield of approximately 5.00%. The bank expects this repositioning to contribute 13 basis points to annualized net interest margin starting Q3, with projected earnings per share accretion of $0.20 over the next four quarters.

According to CEO Tim Myers, the bank maintains strong capitalization with a pro-forma total risk-based capital ratio above 16%, supporting its long-term growth strategy.

Bank of Marin Bancorp (NASDAQ: BMRC) reported Q1 2025 net income of $4.9 million, with diluted EPS of $0.30, showing a 67% year-over-year increase from Q1 2024's $0.18. The bank's net interest margin improved to 2.86%, up 6 basis points from the previous quarter.

Key highlights include:

• Total deposits increased to $3.302 billion, up $82.0 million from Q4 2024
• Non-interest bearing deposits remained strong at 43.2% of total deposits
• Commercial loan originations were five times higher than Q1 2024
• The efficiency ratio increased to 76.44% from 65.53% last quarter
• Classified loans rose to 2.77% of total loans, up from 2.17% last quarter

The Board declared a cash dividend of $0.25 per share, marking the 80th consecutive quarterly dividend. Capital remains above well-capitalized regulatory thresholds with total risk-based capital ratios of 16.69% for Bancorp and 16.45% for the Bank.

Bank of Marin Bancorp (Nasdaq: BMRC) has scheduled its first quarter earnings webcast for Monday, April 28, 2025, at 8:30 a.m. PT/11:30 a.m. ET. The presentation will feature President and CEO Tim Myers and EVP/CFO Dave Bonaccorso discussing the company's fiscal first quarter results for the period ending March 31, 2025.

Investors can access the live webcast through the company's website at www.bankofmarin.com under 'Investor Relations'. Participants are advised to log in 15 minutes early to register and install necessary audio software. A replay will be available on the website after the call, and closed captioning will be provided for both the live webcast and replay.

Bank of Marin Bancorp (BMRC) reported Q4 2024 earnings of $6.0 million, up from $4.6 million in Q3 2024. Diluted earnings per share increased 35.71% to $0.38 from $0.28 in the previous quarter.

Key Q4 highlights include: tax-equivalent net interest margin improved to 2.80% from 2.70%; ROA increased to 0.63%; efficiency ratio improved to 65.53% from 75.18%; non-interest bearing deposits remained strong at 43.5% of total deposits; and classified loans decreased to 2.17% of total loans.

The bank's total loans were $2.083 billion, with organic originations of $47.1 million in Q4. Non-accrual loans decreased to 1.63% of the loan portfolio. The Board declared a cash dividend of $0.25 per share, marking the 79th consecutive quarterly dividend.

For full-year 2024, the bank reported a net loss of $8.4 million due to balance sheet restructuring efforts.

Bank of Marin Bancorp (BMRC) has announced its upcoming fourth quarter earnings webcast scheduled for Monday, January 27, 2025, at 8:30 a.m. PT/11:30 a.m. ET. The presentation will feature President and CEO Tim Myers and EVP/CFO Dave Bonaccorso discussing the company's fiscal fourth quarter results for the period ended December 31, 2024.

Investors can access the webcast through Bank of Marin's website at www.bankofmarin.com under the Investor Relations section. Participants are advised to log in at least 15 minutes early to register and install necessary audio software. The webcast will include closed captioning, and a replay will be available on the website shortly after the live broadcast.

Bank of Marin Bancorp (BMRC) announced that EVP, CFO, and Principal Accounting Officer Tani Girton will retire on January 31, 2025. Dave Bonaccorso, currently serving as the Bank's treasurer, will succeed her as CFO and principal accounting officer starting January 2, 2025.

Bonaccorso, 49, joined Bank of Marin as treasurer in August 2023, bringing nearly 30 years of financial services experience. Previously, he served as treasurer at Rabobank and Mechanics Bank. The bank also announced that David Merck has been named director of Audit, Compliance, and Risk, a new role focused on risk and regulatory compliance, and will report directly to CEO Tim Myers upon Girton's retirement.

Bank of Marin Bancorp (BMRC) reported net income of $4.6 million for Q3 2024, compared to a net loss of $21.9 million in Q2 2024. Diluted earnings per share was $0.28 for Q3, versus a loss of $(1.36) in Q2. The company's tax-equivalent net interest margin increased to 2.70% from 2.52%. Total deposits grew to $3.309 billion, up $95.5 million from Q2, with non-interest bearing deposits increasing to 44.5% of total deposits. The Board declared a cash dividend of $0.25 per share. Year-to-date 2024 results reflected a $32.5 million pretax loss from Q2 balance sheet restructuring.

Bank of Marin Bancorp (Nasdaq: BMRC) has announced its upcoming third quarter earnings webcast scheduled for Monday, October 28, 2024, at 8:30 a.m. PT/11:30 a.m. ET. The presentation will feature President and CEO Tim Myers, EVP and CFO Tani Girton, and EVP and Chief Credit Officer Misako Stewart discussing the company's fiscal third quarter results, which ended September 30, 2024.

Investors and interested parties can access the live webcast through Bank of Marin's website at www.bankofmarin.com under the "Investor Relations" section. Participants are advised to log in at least 15 minutes before the call to register and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available on the same website shortly after the call. The webcast will also feature closed captioning during the live presentation and replay.

Bank of Marin Bancorp (Nasdaq: BMRC) reported a net loss of $21.9 million for Q2 2024, dropping from a net income of $2.9 million in Q1 2024. The diluted loss per share was $(1.36), compared to earnings of $0.18 per share last quarter. The six-month net loss was $19.0 million, in contrast to a $14.0 million net income for the same period in 2023. This loss reflects a pretax loss of $32.5 million from balance sheet restructuring and a $5.2 million provision for credit losses.

The company sold $325 million of low-yielding investment securities, using proceeds to pay off borrowings and reinvest in higher-yielding assets. Despite Q2 losses, BMRC expects a 30 basis point increase in annualized net interest margin and $0.46 per share earnings accretion starting Q3 2024.

Total loans grew by $27.4 million to $2.082 billion, while total deposits decreased by $70.3 million to $3.214 billion. Non-accrual loans increased significantly due to a $16.7 million commercial real estate loan.