Bank of Marin posts Q3 net income of $4.6M vs Q2 loss of $21.9M; NIM expands to 2.70%

Bank of Marin Bancorp

2024-Q3 EPS reported -$0.90

Diluted EPS of $0.28, compared to $(1.36) in Q2 2024; YTD 2024 net loss of $14.4M vs income $19.3M in 2023.
Tax-equivalent net interest margin rose 18 bps to 2.70%; no provision for credit losses on loans.
Total deposits grew $95.5M to $3.309B; non-interest bearing deposits 44.5%; repurchased 220K shares for $4.2M.
Classified loans decreased to 2.51% of total loans; accrued $615K for PAGA class action settlement.
Declared $0.25/share dividend payable Nov 14, 2024, to holders of record Nov 7, 2024.

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