secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0001403475-24-000036
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of Marin sells $325M AFS securities; non-accrual loans surge to 1.62% in Q2 2024
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- Sold $325M AFS securities (yield 1.94%); $293M proceeds expected to lift annualized NIM by 30 bps in Q3.
- Non-accrual loans jumped to 1.62% of loans (from 0.31%) due to two relationships totaling $27.2M.
- Provision for credit losses of $5.2M, primarily from increased individual reserve on one non-accrual loan.
- Total risk-based capital at 16.5%, TCE ratio 9.9% (7.7% adjusted for HTM securities).
- Total deposits down 2.1%, but non-interest bearing deposits at 44% and cost of deposits 1.45%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000036/0001403475-24-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000036/bmrc-20240730.htm
  HTML page:      https://secwatch.observer/filing/0001403475-24-000036

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