Bank of Marin Bancorp (BMRC): debt financing — Bank of Marin completes balance sheet repositioning with $45M sub notes; expects $0.37 EPS boost

Bank of Marin Bancorp

Issued $45M of 6.75% Fixed-to-Floating Subordinated Notes due 2035 rated BBB- by KBRA.
Sold $595M book value of HTM securities at $69.5M pre-tax loss; reinvesting at ~4.15% yield.
Expects $8.3M incremental pre-tax income and $0.37 annual EPS increase (29.56% tax rate).
Negative equity adjustment of ~$59M after-tax from HTM transfer to AFS; regulatory capital only hit by realized losses.
KBRA assigned investment grade: BBB- sub debt, BBB+ deposits.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bank of Marin Bancorp incurred senior notes of $45 million at 6.750% per annum maturing December 1, 2035.

Instrument: senior notes
Principal: $45 million
Rate: 6.750% per annum
Maturity: December 1, 2035
Event: incurrence

Exact text from the filing

the Company issued and sold $45 million in aggregate principal amount of its 6.750% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”)

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312 debt financings filed in the last 30 days. Browse all debt financings →

Bank of Marin Bancorp filing history →

Source: SEC EDGAR

accession 0001403475-25-000077

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