secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001403475-24-000046
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of Marin Q2 2024: sold $325M AFS securities, non-accrual loans rise to 1.62%
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- Sold $325M (56% of AFS portfolio) securities yielding 1.94%; proceeds expected to lift NIM by ~30 bps in Q3.
- Non-accrual loans jumped to 1.62% of total loans from 0.31% QoQ, driven by two relationships totaling $27.2M.
- Total risk-based capital remained strong at 16.5%; TCE/TA 9.9% (7.7% adjusted for HTM).
- Non-interest bearing deposits stayed at 44% of total deposits; cost of deposits was 1.45%.
- Provision for credit losses $5.2M primarily due to increased reserve on one non-accrual loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000046/0001403475-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347524000046/bmrc-20240916.htm
  HTML page:      https://secwatch.observer/filing/0001403475-24-000046

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