secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2023-01-23T23:59:59+00:00
Accession:  0001403475-23-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347523000005/0001403475-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347523000005/brmc-20230123.htm
  HTML page:      https://secwatch.observer/filing/0001403475-23-000005

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