Bank of Marin Q4 2024 EPS rises 35.7% to $0.38; NIM expands to 2.80%; credit quality improves

Bank of Marin Bancorp

2024-FY EPS reported -$0.52

Q4 2024 net income $6.0M ($0.38 diluted EPS) vs $4.6M ($0.28) in Q3; EPS up 35.7% QoQ.
Tax-equivalent net interest margin improved to 2.80% from 2.70%; average cost of interest-bearing deposits down 19 bps.
Non-accrual loans fell to 1.63% of total loans (from 1.91%), classified loans to 2.17% (from 2.51%); no provision for credit losses.
Full-year 2024 net loss of $8.4M due to balance sheet restructuring; Q4 performance improved; capital ratios strengthened (TCE/TA 9.9%).
Quarterly dividend $0.25 per share declared; payable Feb 13, 2025; 79th consecutive quarterly dividend.

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