NASDAQ$BMRC

Bank of Marin Bancorp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported earnings of $7.2 million, responding to impacts of the novel coronavirus.

Bank of Marin Bancorp reported earnings of $7.2 million for the first quarter of 2020. Net income was impacted by a $2.2 million provision for loan losses related to COVID-19 and increases in non-interest expenses. These were partially offset by gains on investment securities sales and accelerated discount accretion from an investment security call.

  • Loans totaled $1,843.9 million, an increase of $574 thousand.
  • Total deposits decreased to $2,307.1 million.
  • Non-accrual loans represented 0.09% of the Bank's loan portfolio.
  • The Board of Directors declared a cash dividend of $0.23 per share.

Headline financials

Total Revenue

$27.2M

Previous: $25.6M+6.3%
EPS (adj)

$0.53

Previous: $0.54-1.9%
Efficiency Ratio

56.8%

No prior period
Net Interest Margin

3.9%

Previous: 4.0%-3.5%
Cost of Deposits

0.2%

Previous: 0.2%+16.7%
Non-accrual Loans to Loans

0.1%

No prior period
Loan-to-Deposit Ratio

79.9%

No prior period
Risk Capital Ratio - Bancorp

15.3%

No prior period
Capital Expenditures

-$146K

Previous: -$67K-117.9%
Free Cash Flow

$7.08M

Previous: $7.41M-4.5%
Net Income

$7.23M

Previous: $7.48M-3.4%
Operating Income

$25.6M

Previous: $23.6M+8.4%
Gross Profit

$27.2M

Previous: $25.6M+6.3%
Cash & Equivalents

$156M

Previous: $51.6M+202.6%
Total Assets

$2.7B

Previous: $2.53B+6.5%
Stock-Based Comp

$630K

Previous: $853K-26.1%

Revenue & EPS history

Bank of Marin · Revenue · Quarterly

$27.2M

Q1 2020+6.3%vs Q1 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Bank of Marin · $2.12B total across 7 segments · Q1 2021

  • RE - Investor Owned
    $955M
  • Commercial & Industrial
    $545M
  • RE - Owner Occupied
    $308M
  • Other Residential
    $124M
  • Home Equity
    $96.6M
  • Construction
    $71.1M
  • Consumer Loans
    $21.4M

Forward guidance

The pandemic is expected to result in lower interest rates, higher volatility and some deterioration in household, business, and market conditions that will impact the company in the coming quarters.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.3%

Avg return

Earnings day

-0.4%

Avg return

5 days after

+1.0%

Avg return

30 days after

56%

37 / 66 earnings

Positive

+8.6%

Q3 2015

Best reaction

-11.5%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.1%+0.0%+0.5%
Q4 2025+3.6%+1.6%+0.2%
Q3 2025+4.9%+5.2%+10.5%
Q2 2025-0.7%-2.1%+5.6%
Q1 2025+0.7%+2.6%+0.0%
Q4 2024+5.6%+5.3%+1.3%
Q3 2024+5.0%+1.6%+17.4%
Q2 2024-4.6%-16.4%-7.7%
Q1 2024-7.0%+0.8%-2.1%
Q4 2023-3.8%-11.0%-21.5%
Q3 2023-5.2%-2.6%+8.1%
Q2 2023-0.5%+7.1%-4.0%
Q1 2023-11.5%-15.0%-15.7%
Q4 2022-5.4%-6.1%-6.5%
Q3 2022+6.2%+13.4%+7.5%
Q2 2022+2.6%+2.0%-2.6%
Q1 2022-7.0%-5.2%-1.4%
Q4 2021+1.9%-2.0%-6.0%
Q3 2021+2.8%+0.2%-2.9%
Q2 2021+3.6%+2.5%+12.3%
Q1 2021-10.0%-8.0%-10.4%
Q4 2020-0.3%-6.8%-3.8%
Q3 2020-7.5%-8.0%+15.3%
Q2 2020+2.9%+1.2%+0.9%
Q1 2020-0.3%+0.9%+0.6%
Q4 2019+3.1%-0.2%-7.2%
Q3 2019+4.5%+3.8%+8.0%
Q2 2019+1.6%+3.5%-1.7%
Q1 2019-0.4%+0.0%-2.9%
Q4 2018+1.3%-0.2%+4.8%
Q3 2018+2.3%+3.5%+2.8%
Q2 2018+5.6%+6.4%+7.8%
Q1 2018+8.4%+7.1%+12.2%
Q4 2017-2.3%-2.7%-3.1%
Q3 2017+3.6%+5.6%+0.1%
Q2 2017+2.8%+7.0%+3.3%
Q1 2017-1.3%-8.1%-9.9%
Q4 2016+4.9%+2.1%+2.5%
Q3 2016+0.7%+0.2%+33.9%
Q2 2016-2.8%-4.3%-5.3%
Q1 2016+1.4%
Q4 2015+2.7%
Q3 2015+8.6%
Q2 2015-4.2%
Q1 2015+1.6%
Q4 2014-3.9%
Q3 2014+0.5%
Q2 2014+2.8%
Q1 2014-0.2%
Q4 2013-0.4%
Q3 2013-0.1%
Q2 2013-7.1%
Q1 2013+2.8%
Q4 2012+2.7%
Q3 2012-1.8%
Q2 2012+0.1%
Q1 2011+0.0%
Q1 2012+0.5%
Q4 2009+1.7%
Q4 2011+1.7%
Q4 2010+1.7%
Q3 2011-1.3%
Q3 2010-1.3%
Q2 2011+4.0%
Q2 2010+4.0%
Q1 2010-2.4%

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