secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0001403475-24-000004
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of Marin Q4 2023 EPS $0.04 vs $0.33 prior; restructures with $131.9M securities sale
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- Q4 net income $610K ($0.04 diluted EPS) down from $5.3M ($0.33) in Q3; full-year 2023 earnings $19.9M vs $46.6M in 2022.
- Sold $131.9M of AFS securities for $5.9M pretax loss; proceeds used to pay down borrowings and fund loans.
- Provision for credit losses on loans rose to $1.3M; ACL ratio 1.21% vs 1.16% prior quarter; non-accrual loans 0.39% of loans.
- Deposits declined $153.6M to $3.29B; borrowings reduced $94.0M to $26.0M; net interest margin improved 5 bps to 2.53%.
- Board declared $0.25/share dividend, payable Feb 15 to holders of record Feb 8; 75th consecutive quarterly dividend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000004/0001403475-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000004/brmc-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001403475-24-000004

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