secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001403475-24-000016
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000016/0001403475-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000016/bmrc-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001403475-24-000016

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