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Bank of Marin Bancorp

SIC 6022 · State Commercial Banks
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$BMRC

Bank of Marin Bancorp

CIK:0001403475|SEC Filings
v3.26.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income          
Interest and fees on loans $ 27,267,000 $ 26,534,000 $ 25,861,000 $ 53,801,000 $ 51,044,000
Interest on investment securities 13,427,000 13,869,000 8,423,000 27,296,000 16,684,000
Interest on due from banks 1,646,000 2,392,000 2,004,000 4,038,000 3,799,000
Total interest income 42,340,000 42,795,000 36,288,000 85,135,000 71,527,000
Interest expense          
Interest on interest-bearing transaction accounts 1,462,000 2,039,000 1,291,000 3,501,000 2,452,000
Interest on savings accounts 635,000 577,000 587,000 1,212,000 1,120,000
Interest on money market accounts 7,674,000 7,821,000 7,878,000 15,495,000 15,504,000
Interest on time accounts 965,000 1,242,000 1,559,000 2,207,000 3,349,000
Interest on borrowings and other obligations 6,000 6,000 1,000 12,000 2,000
Interest on subordinated notes 817,000 808,000 0 1,625,000 0
Total interest expense 11,559,000 12,493,000 11,316,000 24,052,000 22,427,000
Net interest income 30,781,000 30,302,000 24,972,000 61,083,000 49,100,000
(Reversal of) provision for credit losses on loans (320,000) 0 0 (320,000) 75,000
Provision for credit losses on unfunded loan commitments 0 0 0 0 0
Net interest income after provision for credit losses 31,101,000 30,302,000 24,972,000 61,403,000 49,025,000
Non-interest income          
Earnings on bank-owned life insurance, net 442,000 487,000 429,000 929,000 905,000
Dividends on Federal Home Loan Bank stock 199,000 855,000 362,000 1,054,000 737,000
Earnings on bank-owned life insurance death benefits 59,000 479,000 238,000 538,000 306,000
Losses on sale of investment securities 0 0 (18,736,000) 0 (18,736,000)
Other income 824,000 374,000 424,000 1,198,000 776,000
Total non-interest income (loss) 3,169,000 3,834,000 (15,621,000) 7,003,000 (12,747,000)
Non-interest expense          
Salaries and related benefits 12,609,000 13,394,000 12,045,000 26,003,000 24,095,000
Occupancy and equipment 2,090,000 2,099,000 2,226,000 4,189,000 4,332,000
Professional services 1,371,000 1,093,000 908,000 2,464,000 1,845,000
Data processing 1,138,000 1,228,000 1,041,000 2,366,000 2,177,000
Federal Deposit Insurance Corporation insurance 555,000 730,000 421,000 1,285,000 809,000
Information technology 510,000 515,000 563,000 1,025,000 976,000
Depreciation and amortization 270,000 263,000 320,000 533,000 642,000
Directors' expense 261,000 285,000 279,000 546,000 583,000
Amortization of core deposit intangible 196,000 200,000 220,000 396,000 447,000
Charitable contributions 190,000 437,000 116,000 627,000 519,000
Deposit network fees 118,000 149,000 114,000 267,000 228,000
Other expense 2,289,000 2,146,000 2,297,000 4,435,000 4,343,000
Total non-interest expense 21,597,000 22,539,000 20,550,000 44,136,000 40,996,000
Income (loss) before provision for (benefit from) income taxes 12,673,000 11,597,000 (11,199,000) 24,270,000 (4,718,000)
Provision for (benefit from) income taxes 3,427,000 3,087,000 (2,663,000) 6,514,000 (1,058,000)
Net income (loss) $ 9,246,000 $ 8,510,000 $ (8,536,000) $ 17,756,000 $ (3,660,000)
Net income (loss) per common share          
Basic (in dollars per share) $ 0.58 $ 0.53 $ (0.53) $ 1.11 $ (0.23)
Diluted (in dollars per share) $ 0.58 $ 0.53 $ (0.53) $ 1.11 $ (0.23)
Weighted average shares:          
Basic (in shares) 15,952 15,925 15,989 15,938 15,983
Diluted (in shares) 15,991 15,973 15,989 15,983 15,983
Comprehensive income (loss):          
Net income (loss) $ 9,246,000 $ 8,510,000 $ (8,536,000) $ 17,756,000 $ (3,660,000)
Other comprehensive (loss) income:          
Change in net unrealized (losses) gains on available-for-sale securities (4,838,000) (7,642,000) (486,000) (12,480,000) 2,803,000
Reclassification adjustment for losses realized on the sale of available-for-sale securities in net loss 0 0 18,736,000 0 18,736,000
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 0 0 365,000 0 705,000
Other comprehensive (loss) income, before tax (4,838,000) (7,642,000) 18,615,000 (12,480,000) 22,244,000
Deferred tax (benefit) expense (1,430,000) (2,260,000) 5,503,000 (3,690,000) 6,576,000
Other comprehensive (loss) income, net of tax (3,408,000) (5,382,000) 13,112,000 (8,790,000) 15,668,000
Total comprehensive income 5,838,000 3,128,000 4,576,000 8,966,000 12,008,000
Service charges on deposit accounts          
Non-interest income          
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees, net and merchant interchange fees, net 563,000 563,000 550,000 1,126,000 1,098,000
Wealth management and trust services          
Non-interest income          
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees, net and merchant interchange fees, net 543,000 596,000 612,000 1,139,000 1,175,000
Debit card interchange fees, net          
Non-interest income          
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees, net and merchant interchange fees, net 397,000 362,000 410,000 759,000 806,000
Merchant interchange fees, net          
Non-interest income          
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees, net and merchant interchange fees, net $ 142,000 $ 118,000 $ 90,000 $ 260,000 $ 186,000