NASDAQ$BMRC

Bank of Marin Bancorp · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported earnings of $9.3 million and diluted earnings per share of $0.71.

Bank of Marin Bancorp reported a strong second quarter with earnings of $9.3 million, driven by growth in net interest income and non-interest revenue, coupled with managed expenses and exceptional credit quality. The acquisition of American River Bankshares is on track to close in the third quarter.

  • Earnings of $9.3 million in the second quarter of 2021, compared to $7.4 million in the second quarter of 2020.
  • Diluted earnings per share were $0.71 in the second quarter, compared to $0.55 in the same quarter last year.
  • Loan balances were $2.003 billion at June 30, 2021, compared to $2.110 billion at June 30, 2020.
  • Total deposits grew to $2.684 billion at June 30, 2021 from $2.656 billion at March 31, 2021.

Headline financials

Total Revenue

$26.6M

Previous: $26.2M+1.4%
EPS (adj)

$0.71

Previous: $0.46+54.3%
Efficiency Ratio

58.6%

Previous: 53.0%+10.5%
Net Interest Margin

3.4%

No prior period
Return on Assets

1.2%

Previous: 1.0%+18.8%
Return on Equity

10.7%

Previous: 8.5%+25.8%
Cost of Deposits

0.1%

Previous: 0.1%-22.2%
Non-accrual Loans to Loans

0.5%

Previous: 0.1%+475.0%
Loan Loss Allowance % Loans

0.9%

Previous: 1.0%-4.0%
Risk Capital Ratio - Bancorp

15.5%

Previous: 15.8%-1.9%
Risk Capital Ratio - Bank

15.3%

No prior period
Capital Expenditures

-$765K

Previous: -$242K-216.1%
Free Cash Flow

$8.52M

Previous: $7.16M+18.9%
Net Income

$9.29M

Previous: $7.41M+25.4%
Operating Income

$24.3M

Previous: $25M-2.9%
Gross Profit

$25.6M

Previous: $26.2M-2.1%
Cash & Equivalents

$258M

Previous: $398M-35.2%
Total Assets

$3.07B

Previous: $3.18B-3.4%
Stock-Based Comp

$123K

Previous: $155K-20.6%

Revenue & EPS history

Bank of Marin · Revenue · Quarterly

$26.6M

Q2 2021+1.4%vs Q2 2020
Beat estimate in 11 of 16 quarters(69%)
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

Bancorp expects the acquisition of American River Bankshares to close in the third quarter of 2021.

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 Q2 2021

Historical avgQ2 2021

+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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