Bank of Marin Bancorp

BMRC: 10-Q · periodic report

Bank of Marin Bancorp reported second-quarter 2026 net income of $9.2 million, or $0.58 per diluted share, up from $8.5 million, or $0.53, in the prior quarter and versus a net loss of $8.5 million a year earlier. First-half net income reached $17.8 million compared with a $3.7 million loss in the first half of 2025, which had included an $18.7 million pre-tax loss on securities sales tied to portfolio repositioning. Net interest margin expanded to 3.38% on a tax-equivalent basis from 3.24% in the first quarter, helped by higher loan yields and lower deposit costs, while credit quality improved with non-accrual loans falling to 0.40% of loans from 1.27% at year-end and a $320 thousand reversal of the credit-loss provision in the quarter. Capital remains above well-capitalized thresholds at a 15.58% total risk-based capital ratio, and the board declared the 85th consecutive quarterly dividend of $0.25 per share payable August 13, 2026; $23.9 million remains available under the $25 million buyback authorization with no repurchases in the first half. The previously disclosed material weakness in internal controls over reciprocal-deposit accounting remains in remediation, with no significant changes during the quarter; management concluded disclosure controls and procedures were effective as of June 30, 2026.

SEC 10-Q•2mo ago

Bank of Marin Bancorp Reports Second Quarter Financial Results

Bank of Marin reported Q2 2026 net income of $9.2 million, or $0.58 per share, reversing the prior year's loss and growing sequentially on a 14 basis point expansion of net interest margin to 3.38%. Profitability improved as the efficiency ratio tightened to 63.62% and return on average assets rose to 0.96%, driven by higher loan yields and lower deposit costs, while the bank maintained capital levels well above regulatory thresholds. Credit quality metrics remained stable with special mention loans reduced by a planned exit, and the board declared its 85th consecutive dividend of $0.25 per share.

•2mo ago

Bank of Marin Bancorp Reports First Quarter Financial Results

Bank of Marin reported a strong rebound in Q1 2026 with net income of $8.5 million, a 75% increase from the prior year, driven by a 6 basis point expansion in net interest margin to 3.24%. Asset quality improved significantly, with non-accrual loans falling from 1.27% to 0.41% of total assets after the sale of $16.3 million in distressed loans, fully covered by prior reserves. The board maintained its shareholder return policy, declaring a $0.25 per share dividend, marking the 84th consecutive quarterly payout.

•5mo ago