BMRC earnings analysis
What we found in BMRC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Bank of Marin reported a net income of $8.51 million in Q1 2026, marking a significant increase from $4.9 million in Q1 2025 and recovering from a loss of $39.5 million in the previous quarter. Despite this positive trend, diluted EPS of $0.53 fell short of the consensus estimate of $0.55. Overall, the results demonstrate mixed performance with improvements in net interest margin and asset quality, although revenues declined from the prior quarter.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Net Income Recovery
- Net income rose to $8.51 million in Q1 2026 from $4.9 million a year earlier.
- Improved Net Interest Margin
- Net interest margin increased to 3.24%, up 47 basis points from 2.77% in Q1 2025.
- Significant Growth in Non-Interest Income
- Non-interest income swung to $3.83 million from a loss of $66.65 million in the prior quarter.
- Lower Credit Losses
- There was no provision for credit losses recorded in Q1 2026, compared to $300K in Q4 2025.
- Decline in Non-Accrual Loans
- Non-accrual loans fell from 1.27% to 0.41% of total loans following the sale of $16.3 million of classified loans.
- Increased Deposits
- Total deposits rose to $3.428 billion, up $12.6 million from $3.416 billion at year-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- EPS Missed Expectations
- Q1 2026 EPS of $0.53 was below the consensus estimate of $0.55, reflecting potential concerns about future earnings.
- Past Quarter Loss Impact
- The previous quarter’s significant loss of $39.54 million may raise concerns about operational stability and consistency.
- High Charge-Offs
- Net charge-offs totaled $7.3 million in Q1 2026, largely driven by the sale of two non-accruing loans.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.53
What they said about what is next.
Management anticipates further net interest margin expansion but provided no specific numeric guidance for revenue or EPS.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 13, 2026
- Bank of Marin's 2025 Form 10-K emphasizes a relationship-focused community banking strategy (27 retail branches, 8 commercial offices) concentrated in Northern California. The filing discloses a Feb 23, 2026 restatement…
- 10-Q · November 7, 2025
- Bank of Marin returned to profitability in Q3 2025: net income was $7,526,000 (diluted EPS $0.47) with total consolidated income of $41,814,000. Results were driven by higher net interest income of $28,193,000 and a…
- 10-Q · May 12, 2025
- Bank of Marin reported Q1 2025 diluted EPS of $0.30 and net income of $4,876,000, down from $6,001,000 in the prior quarter. Total revenue (net interest income after provision plus non-interest income) was $27,745,000;…
- 10-K · March 14, 2025
- Bank of Marin positions itself as a relationship-focused community bank operating 27 retail branches and 8 commercial banking offices across Northern California, with a business-heavy deposit mix (approximately 59%…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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