other material
confidence high
sentiment positive
materiality 0.45
Bank of Marin presents Q4 adjusted metrics; loan growth and credit improvement highlighted
Bank of Marin Bancorp
- Q4 adjusted tax-equivalent NIM improved to 3.18% (3.27% in Dec) from 2.97% prior quarter.
- New funded loans $106.5M in Q4, highest since Q4 2015; loan growth 5.84% annualized.
- Non-accrual loans decreased to 1.51% of total loans; classified loans down to 2.36%.
- Completed HTM repositioning: sold $593.2M (pretax loss $69.5M); issued $45M sub debt at 6.75%.
- Total risk-based capital 16.13%; deposits increased 3.90% annualized; cost of deposits 1.35%.