Quarterly ResultApr 27, 2026, 09:17 AM
BMRC Q1 Net Income $8.5M (+75%); EPS $0.53 (+76.7%); NIM & Asset Quality Improve
AI Summary
Bank of Marin Bancorp (BMRC) reported Q1 2026 net income of $8.5 million, a 75% increase year-over-year, with diluted earnings per share of $0.53, up 76.7%. The company achieved further improvements in its tax-equivalent net interest margin, which expanded by 6 basis points quarter-over-quarter to 3.24%. Asset quality significantly improved, marked by a substantial decline in non-accrual and classified loans, and total deposits grew by 0.37% with a flat cost of deposits. The Board also declared an $0.25 per share cash dividend.
Key Highlights
- Net income for Q1 2026 was $8.5 million, up 75% YoY from $4.9 million.
- Diluted EPS was $0.53 for Q1 2026, a 76.7% increase YoY from $0.30.
- Tax-equivalent net interest margin improved 6 bps QoQ to 3.24% and 47 bps YoY.
- Non-accrual loans declined from 1.27% of assets to 0.41%; classified loans decreased from 1.51% to 0.85%.
- Total deposits increased 0.37% to $3.428 billion; average cost of total deposits remained flat at 1.35%.
- Allowance for credit losses was 1.08% of total loans, down from 1.42% last quarter.
- Board declared a cash dividend of $0.25 per share, the 84th consecutive quarterly dividend.