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Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services. It also provides commercial real estate, commercial and industrial, small business, and consumer loans, as well as construction financing and home equity lines of credit. In addition, the company offers merchant and payroll services; commercial equipment leasing program; payment solutions; treasury management services; credit cards; automated teller machines; and mobile deposit, remote deposit capture, automated clearing house, wire transfer, and image lockbox services. Further, it provides wealth management and trust services comprising customized investment portfolio management, trust administration, estate settlement, and custody services; international banking; and telephone and digital banking services. The company was founded in 1989 and is headquartered in Novato, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $29M | - | $-36M | $37M | -9.0% | -58.6% | - |
| 2024 | $70M | - | $-8M | $28M | -1.9% | -33.5% | -142.3% |
| 2023 | $105M | - | $20M | $34M | 4.5% | -24.0% | -57.3% |
| 2022 | $138M | - | $47M | $53M | 11.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 138.14 | 104.97 | 69.77 | 28.91 |
| Pretax Income | 63.51 | 26.04 | -13.84 | -52.48 |
| Tax Provision | 16.92 | 6.14 | -5.43 | -16.81 |
| Net Income | 46.59 | 19.89 | -8.41 | -35.67 |
| Net Income Common Stockholders | 46.59 | 19.89 | -8.41 | -35.67 |
| Interest Expense | 2.55 | 39.14 | 49.69 | 46.39 |
| Interest Income | 130.04 | 139.49 | 141.27 | 152.43 |
| Selling General And Administration | 45.42 | 47.78 | 48.85 | 51.41 |
| Normalized Income | 46.59 | 19.89 | -8.41 | -35.67 |
| Basic EPS | 2.93 | 1.24 | -0.52 | 0 |
| Diluted EPS | 2.92 | 1.24 | -0.52 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.27 | 0.24 | 0.39 | 0.32 |
| Total Unusual Items | -0.71 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.71 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 46.59 | 19.89 | -8.41 | -35.67 |
| Reconciled Depreciation | 3.33 | 3.45 | 2.44 | 2.14 |
| Net Interest Income | 127.49 | 100.35 | 91.58 | 106.04 |
| Net Income From Continuing And Discontinued Operation | 46.59 | 19.89 | -8.41 | -35.67 |
| Diluted Average Shares | 15.97 | 16.03 | 16.04 | 0 |
| Basic Average Shares | 15.92 | 16.01 | 16.04 | 0 |
| Diluted NI Availto Com Stockholders | 46.59 | 19.89 | -8.41 | -35.67 |
| Net Income Including Noncontrolling Interests | 46.59 | 19.89 | -8.41 | -35.67 |
| Net Income Continuous Operations | 46.59 | 19.89 | -8.41 | -35.67 |
| Special Income Charges | -0.71 | 0 | 0 | 0 |
| Other Special Charges | 0.71 | 0 | 0 | 0 |
| Gain On Sale Of Security | -0.06 | -5.89 | -32.54 | -88.20 |
| Depreciation Amortization Depletion Income Statement | 3.33 | 3.45 | 2.44 | 2.14 |
| Depreciation And Amortization In Income Statement | 3.33 | 3.45 | 2.44 | 2.14 |
| Amortization | 1.49 | 1.35 | 0.97 | 0.88 |
| Amortization Of Intangibles Income Statement | 1.49 | 1.35 | 0.97 | 0.88 |
| Depreciation Income Statement | 1.84 | 2.10 | 1.47 | 1.26 |
| Selling And Marketing Expense | 1.09 | 1.24 | 1.09 | 1.03 |
| General And Administrative Expense | 44.33 | 46.54 | 47.76 | 50.38 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.18 | 1.88 | 1.86 | 1.81 |
| Salaries And Wages | 43.15 | 44.66 | 45.90 | 48.57 |
| Operating Revenue | 138.14 | 104.97 | 69.77 | 28.91 |
| Occupancy And Equipment | 7.82 | 8.31 | 8.24 | 8.51 |
| Professional Expense And Contract Services Expense | 3.30 | 3.60 | 5.13 | 4.30 |
| Other Non Interest Expense | 15.16 | 13.56 | 13.63 | 14.47 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bank of Marin Bancorpthis co. | BMRC | $413M | - | 1.03 | -9.0% | - |
| Bankwell Financial Group, Inc. | BWFG | $419M | 10.53 | 1.31 | 11.7% | - |
| Bank7 Corp. | BSVN | $414M | 9.31 | 1.59 | 17.2% | - |
| Citizens & Northern Corporation | CZNC | $412M | 15.75 | 1.20 | 6.9% | - |
| West Bancorporation, Inc. | WTBA | $409M | 11.60 |
| 1.51 |
| 12.2% |
| - |
| RBB Bancorp | RBB | $408M | 10.11 | 0.78 | 6.1% | - |
| GBank Financial Holdings Inc. | GBFH | $407M | 19.55 | 2.44 | 12.6% | - |
| Chaince Digital Holdings Inc. | CD | $406M | - | 8.46 | -11.6% | -100.98 |
| Greene County Bancorp, Inc. | GCBC | $402M | 10.31 | 1.50 | 13.0% | - |
| Peer Median | - | 10.53 | 1.51 | 12.0% | -100.98 | |