Bank of Marin Bancorp

For the period ended Jun 30, 2025. Filed Aug 8, 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.

Jun 30, 2025 · Filed Aug 8, 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 · Six months ended
(in thousands, except per share amounts; unaudited)	June 30, 2025	March 31, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Interest income
Interest and fees on loans	$25,861	$25,183	$25,109	$51,044	$50,129
Interest on investment securities	8,423	8,261	8,299	16,684	17,104
Interest on federal funds sold and due from banks	2,004	1,795	924	3,799	1,245
Total interest income	36,288	35,239	34,332	71,527	68,478
Interest expense
Interest on interest-bearing transaction accounts	351	343	274	694	535
Interest on savings accounts	587	533	511	1,120	882
Interest on money market accounts	7,878	7,626	8,641	15,504	17,090
Interest on time accounts	1,559	1,790	2,291	3,349	4,571
Interest on borrowings and other obligations	1	1	148	2	239
Total interest expense	10,376	10,293	11,865	20,669	23,317
Net interest income	25,912	24,946	22,467	50,858	45,161
Provision for credit losses on loans	—	75	5,200	75	5,550
Net interest income after provision for credit losses	25,912	24,871	17,267	50,783	39,611
Non-interest income
Earnings on bank-owned life insurance, net	667	544	421	1,211	856
Wealth management and trust services	612	563	585	1,175	1,138
Service charges on deposit accounts	550	548	541	1,098	1,070
Debit card interchange fees, net	410	396	444	806	852
Dividends on Federal Home Loan Bank stock	362	375	366	737	743
Merchant interchange fees, net	90	96	10	186	177
Losses on sale of investment securities	(18,736)	—	(32,542)	(18,736)	(32,542)
Other income	424	352	420	776	705
Total non-interest income	(15,621)	2,874	(29,755)	(12,747)	(27,001)
Non-interest expense
Salaries and related benefits	12,045	12,050	12,364	24,095	24,448
Occupancy and equipment	2,226	2,106	2,049	4,332	4,018
Deposit network fees	1,054	932	916	1,986	1,761
Data processing	1,041	1,136	1,005	2,177	2,075
Professional services	908	937	1,043	1,845	2,121
Information technology	563	413	448	976	850
Federal Deposit Insurance Corporation insurance	421	388	426	809	861
Depreciation and amortization	320	322	379	642	767
Directors' expense	279	304	306	583	623
Amortization of core deposit intangible	220	227	246	447	497
Charitable contributions	116	403	604	519	617
Other expense	2,297	2,046	2,108	4,343	4,425
Total non-interest expense	21,490	21,264	21,894	42,754	43,063
(Loss) income before (benefit from) provision for income taxes	(11,199)	6,481	(34,382)	(4,718)	(30,453)
(Benefit from) provision for income taxes	(2,663)	1,605	(12,480)	(1,058)	(11,473)
Net (loss) income	$(8,536)	$4,876	$(21,902)	$(3,660)	$(18,980)
Net (loss) income per common share
Basic	$(0.53)	$0.31	$(1.36)	$(0.23)	$(1.18)
Diluted	$(0.53)	$0.30	$(1.36)	$(0.23)	$(1.18)
Weighted average shares:
Basic	15,989	15,977	16,108	15,983	16,095
Diluted	15,989	16,002	16,108	15,983	16,095
Comprehensive income:
Net (loss) income	$(8,536)	$4,876	$(21,902)	$(3,660)	$(18,980)
Other comprehensive income:
Change in net unrealized gains or losses on available-for-sale securities	(486)	3,289	559	2,803	(4,009)
Reclassification adjustment for realized losses on available-for-sale securities in net loss	18,736	—	32,542	18,736	32,542
Reclassification adjustment for gains or losses on fair value hedges	—	—	282	—	1,499
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity	365	340	403	705	764
Other comprehensive income, before tax	18,615	3,629	33,786	22,244	30,796
Deferred tax expense	5,503	1,073	9,981	6,576	9,097
Other comprehensive income, net of tax	13,112	2,556	23,805	15,668	21,699
Total comprehensive income	$4,576	$7,432	$1,903	$12,008	$2,719

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