Bank Marin Bancorp Stock Price, News & Analysis

Bank of Marin Bancorp (BMRC) has successfully completed its acquisition of American River Bankshares (AMRB) effective August 6, 2021. Each AMRB share was converted into 0.575 shares of BMRC, with a total transaction value of approximately $125 million. The merger enables BMRC to expand its assets to around $4 billion, significantly increasing total loans and deposits. Additionally, two new directors were appointed to BMRC's board. CEO Russell A. Colombo emphasized the strategic advantage of this acquisition for enhancing customer service and regional growth.

Bank of Marin Bancorp (BMRC) reported a strong earnings performance in Q2 2021, with net income of $9.3 million, up from $8.9 million in Q1 2021 and $7.4 million in Q2 2020. Diluted EPS rose to $0.71 from $0.66 and $0.55, respectively. The bank's total deposits grew to $2.684 billion, driven by customer PPP fund deposits. Credit quality remains robust, with non-accrual loans at 0.46%. The acquisition of American River Bankshares is set to enhance the bank's footprint in the Sacramento area. A cash dividend of $0.24 was declared, marking the 65th consecutive quarterly dividend.

Bank of Marin Bancorp (Nasdaq: BMRC) will host its second quarter earnings call on July 19, 2021, at 8:30 a.m. PT. During the call, CEO Russell A. Colombo and other executives will discuss the fiscal second quarter results ending June 30, 2021. Interested parties can access the live webcast on the Bank of Marin’s website under ‘Investor Relations.’ The bank, with assets of $3.1 billion, has 21 branches and is recognized for its community engagement and support.

Bank of Marin Bancorp (Nasdaq: BMRC) appointed Tim Myers as President and Chief Operating Officer, effective immediately. Myers, an experienced banker with over 25 years in finance, will manage several divisions, including Commercial and Retail Banking. His appointment comes as the company prepares to merge with American River Bankshares, aiming for growth amidst the economic challenges posed by the Pandemic. Bank of Marin, with $3.1 billion in assets, emphasizes its commitment to consistent leadership for future success.

Bank of Marin Bancorp (NASDAQ: BMRC) announced an agreement with the Jon S. Kelly Administrative Trust to add Sanjiv Sanghvi to its Board of Directors. Mr. Sanghvi will be nominated for election at the rescheduled 2021 Annual Meeting of Shareholders on June 29, 2021. As part of the agreement, the Kelly Trust withdrew its previous nominations in exchange for Mr. Sanghvi's appointment. Mr. Sanghvi will also serve on the Compensation and Nominating & Governance Committees. Bank of Marin emphasizes community banking with $3.1 billion in assets as of March 31, 2021.

Bank of Marin Bancorp (BMRC) has signed a merger agreement with American River Bankshares (AMRB), valued at $134.5 million based on BMRC's stock price of $39.06. AMRB shareholders will receive 0.575 shares of BMRC for each AMRB share. This merger adds significant assets of $916.1 million and deposits of $788.6 million from AMRB, boosting BMRC's total assets to approximately $4 billion and expanding its presence to 31 branches across ten counties. The transaction is expected to close in Q3 2021, subject to regulatory approvals.

Bank of Marin Bancorp (BMRC) reported first-quarter earnings of $8.9 million, up from $8.1 million in Q4 2020 and $7.2 million in Q1 2020. Diluted EPS rose to $0.66. Key highlights include loan balances increasing to $2.122 billion and total deposits at $2.656 billion. A strong credit quality is reflected in non-accrual loans being 0.43% of total loans. The bank reinstated its $0.23 cash dividend, marking the 64th consecutive quarterly payment.

Bank of Marin Bancorp (Nasdaq: BMRC) will host its first quarter earnings call on April 19, 2021, at 8:30 a.m. PT. The call will feature key executives discussing the fiscal highlights from the quarter ending March 31, 2021. Investors can access the live webcast through the Bank of Marin website, with a replay available post-call. As of December 31, 2020, the bank holds assets of $2.9 billion and operates 21 branches across the San Francisco Bay Area, providing various banking services.

The Board of Directors of Bank of Marin Bancorp (Nasdaq: BMRC) has appointed Secil Tabli Watson to its Board, effective April 1, 2021. Watson boasts 27 years of banking and fintech experience, specializing in digital transformation and cyber-fraud. Previously, she was Executive Vice President at Wells Fargo, leading digital solutions. Her appointment is expected to enhance the bank's digital banking platform, a significant focus for the company. Watson holds an MBA from The Wharton School and has been recognized for her innovations in banking.