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…
Earnings analysis · 10-Q
BMRC earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.53
What stood out
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Net Income Recovery
Net income rose to $8.51 million in Q1 2026 from $4.9 million a year earlier.
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Improved Net Interest Margin
Net interest margin increased to 3.24%, up 47 basis points from 2.77% in Q1 2025.
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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.
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Lower Credit Losses
There was no provision for credit losses recorded in Q1 2026, compared to $300K in Q4 2025.
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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.
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Increased Deposits
Total deposits rose to $3.428 billion, up $12.6 million from $3.416 billion at year-end.
What to watch
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EPS Missed Expectations
Q1 2026 EPS of $0.53 was below the consensus estimate of $0.55, reflecting potential concerns about future earnings.
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Past Quarter Loss Impact
The previous quarter’s significant loss of $39.54 million may raise concerns about operational stability and consistency.
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High Charge-Offs
Net charge-offs totaled $7.3 million in Q1 2026, largely driven by the sale of two non-accruing loans.
Management's outlook
Management anticipates further net interest margin expansion but provided no specific numeric guidance for revenue or EPS.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.