Bank of Marin Bancorp reports record Q4 earnings of $12.9M; plans four branch closures

Bank of Marin Bancorp

2022-FY EPS reported $2.92

Q4 2022 net income $12.9M ($0.81 diluted EPS) vs $12.2M ($0.76) in Q3 2022.
Full-year 2022 net income $46.6M ($2.92 diluted EPS); non-GAAP $2.96.
Deposits declined $329M to $3.573B; loans fell to $2.093B due to elevated payoffs.
Credit quality improved: non-accrual loans dropped 77% to 0.12% of total loans.
Four branches to close in March 2023; pre-tax savings of ~$470K in 2023, $1.4M annually thereafter.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bank of Marin Bancorp reported the year ended December 31, 2022 results: net income $46.6 million, EPS $2.92.

Period: the year ended December 31, 2022
Net income: $46.6 million
EPS: $2.92
Result: reported results

Exact text from the filing

Annual earnings were $46.6 million in 2022, compared to $33.2 million in 2021. Diluted earnings per share were $2.92 for the year ended December 31, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bank of Marin Bancorp reported the fourth quarter of 2022 results: net income $12.9 million, EPS $0.81.

Period: the fourth quarter of 2022
Net income: $12.9 million
EPS: $0.81
Result: reported results

Exact text from the filing

announced earnings of $12.9 million in the fourth quarter of 2022, compared to $12.2 million in the third quarter of 2022. Diluted earnings per share were $0.81 in the fourth quarter of 2022

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Bank of Marin Bancorp filing history →

Source: SEC EDGAR

accession 0001403475-23-000005

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