Bank of Marin Q1 EPS $0.18 vs $0.04 prior quarter; net interest margin stabilizes at 2.50%

Bank of Marin Bancorp

2024-Q1 EPS reported $0.18

Net income $2.9M ($0.18 diluted EPS) vs $0.6M ($0.04) prior quarter and $9.4M ($0.59) year ago.
Net interest margin (tax-equivalent) 2.50%, down slightly from 2.53% prior quarter; average cost of deposits up 23 bps to 1.38%.
Non-accrual loans declined to 0.31% of loans from 0.39%; classified loans increased to 2.67% from 1.56%.
Total borrowings reduced to zero from $26M; non-interest bearing deposits improved to 44.0% of total deposits.
Board declared $0.25/share dividend payable May 16, 2024 to holders of record May 9, 2024.

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 first quarter of 2024 results: net income earnings of $2.9 million, EPS Diluted earnings per share were $0.18 for the first quarter.

Period: the first quarter of 2024
Net income: earnings of $2.9 million
EPS: Diluted earnings per share were $0.18 for the first quarter
Result: reported results

Exact text from the filing

Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," announced earnings of $2.9 million for the first quarter of 2024

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Source: SEC EDGAR

accession 0001403475-24-000016

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