Bank of Marin Bancorp

For the period ended Mar 31, 2025. Filed May 12, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 12, 2025

BMRC$28.65-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Comprehensive Income

BANK OF MARIN BANCORPCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Three months ended
(in thousands, except per share amounts; unaudited)	March 31, 2025	December 31, 2024	March 31, 2024
Interest income
Interest and fees on loans	$25,183	$25,872	$25,020
Interest on investment securities	8,261	8,377	8,805
Interest on federal funds sold and due from banks	1,795	2,227	321
Total interest income	35,239	36,476	34,146
Interest expense
Interest on interest-bearing transaction accounts	343	327	261
Interest on savings accounts	533	556	371
Interest on money market accounts	7,626	8,110	8,449
Interest on time accounts	1,790	2,252	2,280
Interest on borrowings and other obligations	1	1	91
Total interest expense	10,293	11,246	11,452
Net interest income	24,946	25,230	22,694
Provision for credit losses on loans	75	—	350
Net interest income after provision for credit losses	24,871	25,230	22,344
Non-interest income
Wealth management and trust services	563	576	553
Service charges on deposit accounts	548	551	529
Earnings on bank-owned life insurance, net	544	432	435
Debit card interchange fees, net	396	426	408
Dividends on Federal Home Loan Bank stock	375	370	377
Merchant interchange fees, net	96	80	167
Other income	352	318	285
Total non-interest income	2,874	2,753	2,754
Non-interest expense
Salaries and related benefits	12,050	9,413	12,084
Occupancy and equipment	2,106	2,127	1,969
Professional services	937	1,129	1,078
Data processing	1,136	1,096	1,070
Deposit network fees	932	838	845
Federal Deposit Insurance Corporation insurance	388	420	435
Information technology	413	432	402
Depreciation and amortization	322	341	388
Directors' expense	304	297	317
Amortization of core deposit intangible	227	237	251
Charitable contributions	403	30	12
Other expense	2,046	1,978	2,318
Total non-interest expense	21,264	18,338	21,169
Income before provision for income taxes	6,481	9,645	3,929
Provision for income taxes	1,605	3,644	1,007
Net income	$4,876	$6,001	$2,922
Net income per common share
Basic	$0.31	$0.38	$0.18
Diluted	$0.30	$0.38	$0.18
Weighted average shares:
Basic	15,977	15,941	16,081
Diluted	16,002	15,967	16,092
Comprehensive income:
Net income	$4,876	$6,001	$2,922
Other comprehensive (loss) income:
Change in net unrealized gains or losses on available-for-sale securities	3,289	(6,880)	(4,568)
Reclassification adjustment for gains or losses on fair value hedges	—	1,444	1,217
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity	340	355	361
Other comprehensive income (loss), before tax	3,629	(5,081)	(2,990)
Deferred tax expense (benefit)	1,073	(1,501)	(884)
Other comprehensive income (loss), net of tax	2,556	(3,580)	(2,106)
Total comprehensive income	$7,432	$2,421	$816

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