NASDAQ$BMRC

Bank of Marin Bancorp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record earnings and optimized branch delivery model.

Bank of Marin Bancorp reported earnings of $12.9 million, or $0.81 per share, for the fourth quarter of 2022, driven by disciplined banking fundamentals and relationship banking model. The company also announced the closure of two branches in markets redundant with legacy American River Bank branches, as well as two additional branches in markets with nearby locations.

  • Achieved expected earnings contribution from American River Bank acquisition.
  • Maintained low cost of deposits with strong liquidity.
  • Improved credit risk profile ahead of any potential downturn in the overall economic environment.
  • Announced the closure of four branches to gain further operating efficiencies.

Headline financials

Total Revenue

$33.4M

Previous: $30.6M+8.9%
EPS (adj)

$0.81

Previous: $0.66+22.7%
Efficiency Ratio

50.9%

Previous: 56.9%-10.5%
Net Interest Margin

3.3%

Previous: 3.0%+7.6%
Return on Assets

1.2%

Previous: 0.9%+34.4%
Return on Equity

12.8%

Previous: 8.5%+50.2%
Cost of Deposits

0.1%

Previous: 0.1%+33.3%
Non-accrual Loans to Loans

0.1%

Previous: 0.4%-67.6%
Loan-to-Deposit Ratio

58.6%

No prior period
TCE/TA - Bancorp

8.2%

No prior period
Risk Capital Ratio - Bancorp

15.9%

Previous: 14.6%+8.9%
Capital Expenditures

$1.5M

Previous: $211K+612.8%
Free Cash Flow

$14.8M

Previous: $12.7M+16.6%
Net Income

$12.9M

Previous: $9.71M+32.6%
Cash & Equivalents

$45.4M

Previous: $348M-86.9%
Total Assets

$4.15B

Previous: $4.31B-3.9%
Stock-Based Comp

$321K

Previous: $21K+1428.6%

Revenue & EPS history

Bank of Marin · Revenue · Quarterly

$33.4M

Q4 2022+8.9%vs Q4 2021
Beat estimate in 6 of 15 quarters(40%)
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

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 Q4 2022

Historical avgQ4 2022

+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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