Bank of Marin Bancorp Reports Increased Annual Earni
Continued Focus on Strong Community Banking Fundamentals Contributes to Steady Growth
January 25, 2010 09:03 AM Eastern Time
NOVATO, Calif.--(EON: Enhanced Online News)--Bank of Marin Bancorp (“Bancorp”)(NASDAQ: BMRC) announced 2009 e
million, an increase of $615 thousand, or 5.1%, from 2008. Fourth-quarter 2009 earnings were $2.8 million, an increase of $9 thou
from the same period a year ago. Diluted earnings per share were $2.19 for the year 2009 and $0.52 for the fourth quarter 2009, c
for the year 2008 and $0.52 for the fourth quarter of 2008. 2009 diluted earnings per share were reduced by $0.25 related to Ban
participation and withdrawal from the TCPP1 and $0.06 related to an FDIC2 special assessment, respectively, as discussed later.
“We are pleased to close 2009 with solid year-over-year earnings growth. Our commitment to strong customer relationships and re
has contributed to our consistent results,” said Russell A. Colombo, President and Chief Executive Officer.
Bancorp also provided the following highlights on its operating and financial performance for the fourth quarter and year ended Dec
l Bank of Marin (the “Bank”) became the largest community bank in Marin County, CA3 with substantial deposit growth of $9
10.8%, over a year ago; deposits totaled $944.1 million at December 31, 2009.
l Bancorp reported a robust net interest margin of 5.18% in the fourth quarter.
l Total risk-based capital ratio for Bancorp grew to 12.3%, up from 12.1% at September 30, 2009, and continues to be well
standards for a well-capitalized institution.
l In the fourth quarter, Bancorp paid an increased quarterly cash dividend of $0.15 per share, up from $0.14 in the previous q
l In 2009, Bank of Marin gave back to the community in the form of charitable contributions more than 1% of its pre-tax earni
consecutive years, the Bank has received an award recognizing us as part of a small group of corporations that contributes at
Loans and Credit Quality