Bank of Marin Bancorp

NASDAQ:BMRCUnited States

Jul 29, 2024

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• DJ Bank of Marin Bancorp Shares Tumble 8.6% on 2Q Loss, from 10:27AM ET on Monday Jul 29, 2024 by Dow Jones

  10:27AM ET on Monday Jul 29, 2024 by Dow Jones
  Companies Mentioned: BMRC
  
  By Denny Jacob
  
  Bank of Marin Bancorp shares tumbled following an unexpected loss in its latest quarter.
  
  Shares were trading down 8.6% at $20.44. The stock is down 7.2% on the year.
  

• -- Earnings Flash (BMRC) BANK OF MARIN BANCORP Posts Q2 EPS $0.06, from 8:32AM ET on Monday Jul 29, 2024 by MT Newswires

  8:32AM ET on Monday Jul 29, 2024 by MT Newswires
  Companies Mentioned: BMRC
  08:32 AM EDT, 07/29/2024 (MT Newswires) -- ...

• Bank of Marin Bancorp Reports Second Quarter Financial Results, from 8:30AM ET on Monday Jul 29, 2024 by Dow Jones

  8:30AM ET on Monday Jul 29, 2024 by Dow Jones
  Companies Mentioned: BMRC
  Interest-earning deposits with banks (1) $ 45,613 $ 1,245 5.40% $ 4,217 $ 104 4.91% Investment securities (2, 3) 1,480,462 17,247 2.33% 1,835,525 20,297 2.21% Loans (1, 3, 4) 2,063,351 50,346 4.83% 2,114,952 49,115 4.62% --------------------- --------- ------ ---- --------- ------ ---- Total interest-earning assets (1) 3,589,426 68,838 3.79% 3,954,694 69,516 3.50% Cash and non-interest-bearing due from banks 36,275 38,985 Bank premises and equipment, net 7,564 8,471 Interest receivable and other assets, net 147,949 139,134 --------------------- --------- ---------- -------- --------- ---------- -------- Total assets $3,781,214 $4,141,284 ---------------------- --------- ---------- -------- --------- ---------- -------- Liabilities and Stockholders' Equity Interest-bearing transaction accounts $ 206,268 $ 535 0.52% $ 252,110 $ 488 0.39% Savings accounts 228,559 882 0.78% 307,402 316 0.21% Money market accounts 1,152,492 17,090 2.98% 950,564 5,377 1.14% Time accounts including CDARS 262,598 4,571 3.50% 150,384 1,169 1.57% Borrowings and other obligations (1) 9,116 239 5.18% 297,853 7,589 5.07% --------------------- --------- ------ ---- --------- ------ ---- Total interest-bearing liabilities 1,859,033 23,317 2.52% 1,958,313 14,939 1.54% Demand accounts 1,440,114 1,709,907 Interest payable and other liabilities 47,735 48,678 Stockholders' equity 434,332 424,386 --------------------- --------- ---------- -------- --------- ---------- -------- Total liabilities & stockholders' equity $3,781,214 $4,141,284 ---------------------- --------- ---------- -------- --------- ---------- -------- Tax-equivalent net interest income/margin (1) $ 45,521 2.51% $ 54,577 2.74% ---------------------- ---------- ------ ---- ---------- ------ ---- Reported net interest income/margin (1) $ 45,161 2.49% $ 54,029 2.72% ---------------------- ---------- ------ ---- ---------- ------ ---- Tax-equivalent net interest rate spread 1.27% 1.96% ---------------------- ---------- ---------- ---- ---------- ---------- ---- (1) Interest income/expense is divided by actual number of days in the period times 360 days to correspond to stated interest rate terms, where applicable. (2) Yields on available-for-sale securities are calculated based on amortized cost balances rather than fair value, as changes in fair value are reflected as a component of stockholders' equity. Investment security interest is earned on 30/360 day basis monthly. (3) Yields and interest income on tax-exempt securities and loans are presented on a taxable-equivalent basis using the Federal statutory rate of 21 percent. (4) Average balances on loans outstanding include non-performing loans. The amortized portion of net loan origination fees is included in interest income on loans, representing an adjustment to the yield. (5) Net loan origination costs in interest income totaled $436 thousand, $375 thousand, and $362 thousand for the three months ended June 30, 2024, March 31, 2024, and June 30, 2023, totaled $811 thousand and $552 thousand for the six months ended June 30, 2024 and 2023, respectively.
  

• *DJ Bank of Marin Bancorp 2Q Loss $21.9M >BMRC, from 8:30AM ET on Monday Jul 29, 2024 by Dow Jones

  8:30AM ET on Monday Jul 29, 2024 by Dow Jones
  Companies Mentioned: BMRC