Bank Of Marin Bancorp Slips To Loss In Q2

(RTTNews) - Bank of Marin Bancorp (BMRC), parent company of Bank of Marin, reported Monday a net loss for the second quarter of $21.90 million or $1.36 per share, compared to $2.92 million or $0.18 per share in the prior-year quarter. Excluding items, comparable earnings was $0.06 per share.

Net interest income for the quarter was $22.47 million, down from $22.69 million in the year-ago quarter.

Total noninterest loss was $29.76 million, compared to income of $2.75 million last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share on revenues of $23.39 million for the quarter. Analysts' estimates typically exclude special items.

The Company's Board of Directors declared a cash dividend of $0.25 per share on July 25, 2024, payable on August 15, 2024, to shareholders of record at the close of business on August 8, 2024.

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