Bank of Marin Bancorp BMRC
Bank of Marin (the "Bank") was incorporated in August 1989, received its charter from the California Superintendent of Banks (now the Department of Financial Protection and Innovation or "DFPI") and commenced operations in January 1990. The Bank is an insured bank by the Federal Deposit Insurance Corporation ("FDIC"). Bank of Marin Bancorp ("Bancorp") was formed in 2007 and the Bank became its sole subsidiary when each share of Bank common stock was exchanged for one share of Bancorp common stock. Bancorp is listed on the Nasdaq Stock Market under the symbol BMRC. Upon formation of the holding company, Bancorp became subject to regulation under the Bank Holding Company Act of 1956, as amended, and reporting and examination requirements by the Board of Governors of the Federal Reserve System ("Federal Reserve"). Bancorp files periodic reports and proxy statements with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $152.4M | $141.3M | $139.5M | $130.0M | $108.4M | $99.6M | $100.4M | $95.1M | $76.6M | $75.4M |
| Interest expense | $106.0M | $91.6M | $100.4M | $127.5M | $3.4M | $3.0M | $4.8M | $3.5M | $1.7M | $2.3M |
| Pre-tax income | -$52.5M | -$13.8M | $26.0M | $63.5M | $44.9M | $40.6M | $45.9M | $43.4M | $28.8M | $36.5M |
| Income tax | $16.8M | $5.4M | $6.1M | $16.9M | $11.7M | $10.3M | $11.7M | $10.8M | $12.9M | $13.3M |
| Net income | $26.5M | $14.5M | $19.9M | $46.6M | $33.2M | $30.2M | $34.2M | $32.6M | $16.0M | $23.1M |
| EPS, basic | -2.24 | -0.52 | 1.24 | 2.93 | 2.32 | 2.24 | 2.51 | 2.35 | 1.29 | 3.81 |
| EPS, diluted | -2.24 | -0.52 | 1.24 | 2.92 | 2.30 | 2.22 | 2.48 | 2.33 | 1.27 | 3.78 |
| Shares, diluted (wtd. avg.) | $15.9M | $16.0M | $16.0M | $16.0M | $14.4M | $13.6M | $13.8M | $14.0M | $12.5M | $6.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $225.3M | $137.3M | $30.5M | $45.4M | $347.6M | $200.3M | $183.4M | $34.2M | $203.5M | $48.8M |
| Property, plant and equipment | — | — | — | — | — | — | $6.1M | $7.4M | $8.6M | $8.5M |
| Goodwill | $72.8M | $72.8M | $72.8M | $72.8M | $72.8M | $30.1M | $30.1M | $30.1M | $30.1M | $6.4M |
| Total assets | $3.90B | $3.70B | $3.80B | $4.15B | $4.31B | $2.91B | $2.71B | $2.52B | $2.47B | $2.02B |
| Total liabilities | $3.51B | $3.27B | $3.36B | $3.74B | $3.86B | $2.55B | $2.37B | $2.20B | $2.17B | $1.79B |
| Retained earnings | $198.2M | $250.0M | $274.6M | $270.8M | $239.9M | $219.7M | $203.2M | $179.9M | $155.5M | $146.5M |
| Total equity | $394.7M | $435.4M | $439.1M | $412.1M | $450.4M | $358.3M | $336.8M | $316.4M | $297.0M | $230.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $39.1M | $28.4M | $35.7M | $55.3M | $45.3M | $40.8M | $40.9M | $42.1M | $26.9M | $25.4M |
| Depreciation and amortisation | $1.3M | $1.5M | $2.1M | $1.8M | $1.7M | $2.1M | $2.2M | $2.1M | $1.9M | $1.8M |
| Stock-based compensation | $815.0K | $630.0K | $522.0K | $963.0K | $972.0K | $1.2M | $1.5M | $1.7M | $1.3M | $985.0K |
| Capital expenditure | $1.8M | $520.0K | $1.7M | $2.3M | $1.0M | $981.0K | $542.0K | $907.0K | $1.4M | $1.0M |
| Investing cash flow | -$172.0M | $195.2M | $334.7M | -$218.1M | -$340.7M | -$173.4M | -$20.8M | -$225.3M | $7.8M | $24.3M |
| Financing cash flow | $220.9M | -$116.7M | -$385.3M | -$139.4M | $442.7M | $149.5M | $129.0M | $13.9M | $120.0M | -$27.3M |
| Dividends paid | $16.1M | $16.2M | $16.1M | $15.7M | $13.1M | $12.5M | $11.0M | $8.9M | $6.9M | $6.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-046455.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |