Bank of Marin sells $293M in AFS securities, expects $0.46 EPS accretion over four quarters

Bank of Marin Bancorp

Sold $293M (56% of AFS portfolio) avg yield 1.94%; estimated after-tax loss ~$23M in Q2 2024.
Assuming 5.75% reinvestment yield, expects ~30 bps annualized NIM improvement in Q3 and $0.46 EPS accretion over next four quarters.
Proceeds redeployed into higher-yielding loans and short-duration securities; 3-year capital earn back.
CEO Tim Myers says robust capital enables proactive repositioning to improve future earnings and net interest margin.

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