Bank of Marin Bancorp BMRC Income Statement

Bank of marin bancorp (BMRC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income
Interest and fees on loans
20,887	21,123	21,525	20,988	20,695	20,732	20,284	19,624	18,887	17,789	16,738	16,423	15,849	16,394	17,840	16,097	17,141	15,590	15,498	15,287	15,379	15,946	16,195	16,363	16,319	14,358	13,049	13,366	13,635	14,634	14,117	15,324	15,328	15,150	15,567	16,862	15,900	14,296	14,169
Interest on investment securities
4,165	3,543	3,382	3,763	4,097	3,912	3,524	3,499	3,157	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities of U.S. government agencies
-	-	-	-	-	-	-	-	-	-	1,525	1,534	1,518	1,329	1,283	1,191	1,352	1,461	1,223	990	1,035	951	1,126	1,193	1,232	810	553	585	625	680	731	817	967	847	1,153	745	733	829	885
Obligations of state and political subdivisions
-	-	-	-	-	-	-	-	-	-	511	553	568	596	569	588	586	577	527	511	540	536	496	607	634	615	524	437	638	565	382	455	387	396	298	303	302	284	285
Corporate debt securities and other
-	-	-	-	-	-	-	-	-	-	31	36	37	36	38	77	105	139	162	179	205	253	254	256	268	271	311	339	324	353	326	285	201	203	151	171	111	144	138
Interest on federal funds sold and due from banks
332	567	425	190	139	373	400	285	403	372	406	157	60	53	104	40	11	28	35	51	21	36	37	37	51	75	34	3	8	66	42	56	50	70	56	56	40	48	28
Total interest income
25,384	25,233	25,332	24,941	24,931	25,017	24,208	23,408	22,447	20,650	19,211	18,703	18,032	18,408	19,834	17,993	19,195	17,795	17,445	17,018	17,180	17,722	18,108	18,456	18,504	16,129	14,471	14,730	15,230	16,298	15,598	16,937	16,933	16,666	17,225	18,137	17,086	15,601	15,505
Interest expense
Interest on interest-bearing transaction accounts
66	78	101	91	77	68	58	48	52	34	24	21	29	27	27	28	27	27	28	30	30	25	25	26	23	17	12	12	11	14	48	45	44	30	35	48	38	32	26
Interest on savings accounts
16	18	17	17	18	18	18	18	18	18	17	16	15	15	15	14	14	14	12	13	12	12	12	11	11	10	9	8	8	16	26	24	22	23	21	25	29	27	27
Interest on money market accounts
971	1,033	855	787	764	566	337	236	216	195	133	114	113	115	112	107	111	120	125	123	127	135	126	131	158	124	101	95	99	145	181	180	183	282	326	341	337	602	729
Interest on CDARS time accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	2	5	11	19	21	32	45	50	48	94	221	233
Interest on time accounts
161	154	147	175	119	116	130	140	156	153	138	139	146	164	190	193	196	195	212	215	231	222	229	231	235	239	227	224	232	241	254	269	304	336	305	315	358	391	377
Interest on borrowings and other obligations
2	2	4	24	47	0	1	1	0	-	0	0	-	0	0	378	100	81	80	78	78	80	79	78	78	79	80	84	79	80	153	117	147	232	1,268	357	352	363	356
Interest on subordinated debentures
49	54	57	58	60	977	125	123	114	111	111	109	108	111	109	107	109	106	105	105	104	106	106	105	105	35	0	0	0	-	-	-	-	-	-	-	-	-	-
Total interest expense
1,265	1,339	1,181	1,152	1,085	1,745	669	566	556	511	423	399	411	432	453	827	557	543	562	564	582	580	577	582	610	497	429	425	434	507	681	656	732	948	2,005	1,134	1,208	1,636	1,748
Net interest income
24,119	23,894	24,151	23,789	23,846	23,272	23,539	22,842	21,891	20,139	18,788	18,304	17,621	17,976	19,381	17,166	18,638	17,252	16,883	16,454	16,598	17,142	17,531	17,874	17,894	15,632	14,042	14,305	14,796	15,791	14,917	16,281	16,201	15,718	15,220	17,003	15,878	13,965	13,757
Provision for loan losses
2,200	500	400	0	0	0	0	0	0	500	0	0	0	-300	-1,550	0	0	500	0	0	0	0	0	600	150	150	-480	1,100	-230	700	2,100	100	0	2,500	500	3,000	1,050	1,400	1,350
Net interest income after provision for loan losses
21,919	23,394	23,751	23,789	23,846	23,272	23,539	22,842	21,891	19,639	18,788	18,304	17,621	18,276	20,931	17,166	18,638	16,752	16,883	16,454	16,598	17,142	17,531	17,274	17,744	15,482	14,522	13,205	15,026	15,091	12,817	16,181	16,201	13,218	14,720	14,003	14,828	12,565	12,407
Non-interest income
Earnings on (cost of) bank-owned life insurance
275	230	795	235	-60	228	227	230	228	217	209	210	209	218	216	209	201	204	204	203	203	209	208	211	213	188	179	186	401	190	192	192	188	197	194	193	169	-	-
Dividends on Federal Home Loan Bank stock
208	208	202	193	196	377	194	192	196	181	177	176	232	576	223	185	169	185	209	461	148	-	149	130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains (losses) on sale of investment securities, net
800	0	0	61	-6	955	-90	11	0	-	0	10	-	31	0	284	110	-1	72	0	8	-13	4	97	-8	34	-35	0	0	-	0	-	-	-	-	-	-	-	-
Other income
449	457	305	326	257	469	439	384	350	310	225	253	251	217	215	266	210	194	213	340	190	63	222	222	393	38	284	202	180	146	130	126	100	202	128	89	365	497	674
Total non-interest income
3,120	2,318	2,721	2,274	1,771	3,423	2,236	2,238	2,242	1,991	2,066	2,096	2,115	2,463	2,114	2,421	2,163	2,098	2,298	2,608	2,189	2,156	2,301	2,368	2,216	2,063	1,953	1,944	2,106	1,816	1,801	1,800	1,695	1,524	1,565	1,581	1,599	1,307	1,505
Non-interest expense
Salaries and related benefits
9,477	7,827	8,412	8,868	9,146	7,933	8,069	8,316	9,017	7,852	7,344	7,287	7,475	6,508	6,683	6,724	6,748	6,002	6,300	6,672	6,790	5,735	6,108	6,232	6,930	5,857	5,389	5,430	5,298	5,010	5,211	5,314	5,604	4,742	5,320	5,220	4,929	4,665	4,561
Occupancy and equipment
1,663	1,527	1,507	1,578	1,531	1,514	1,444	1,511	1,507	1,409	1,364	1,380	1,319	1,350	1,275	1,175	1,281	1,317	1,346	1,493	1,342	1,426	1,381	1,329	1,334	1,182	1,040	1,052	1,073	1,098	1,089	1,056	987	981	1,021	1,093	907	880	914
Depreciation and amortization
526	-	-	-	556	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	573	572	-	475	532	546	547	508	489	463	481	479	449	441	453	456	441	650	421	383	383	403	416	363	343	353	336	334	339	341	341	342	329	314	308	335	360
Federal Deposit Insurance Corporation insurance
2	7	1	174	179	188	186	191	191	176	167	162	161	65	253	246	261	258	250	253	236	252	261	269	250	240	244	223	214	245	221	218	233	210	189	214	387	388	375
Data processing
786	775	923	1,004	1,015	1,004	950	1,023	1,381	2,058	946	963	939	959	894	916	856	905	835	792	786	809	748	748	1,360	3,477	612	696	549	652	596	660	606	557	642	909	582	491	485
Professional services
544	431	580	535	586	481	727	810	1,299	1,013	801	522	522	516	476	554	498	549	493	515	564	653	537	412	628	869	775	814	527	720	519	516	585	561	465	740	733	550	454
Directors' expense
174	180	189	187	179	170	173	183	174	163	175	224	158	105	143	116	189	206	182	247	191	-	153	157	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Information technology
250	243	279	284	259	228	262	264	269	206	179	186	198	197	307	165	193	182	186	216	152	-	180	173	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of core deposit intangible
213	222	222	221	222	231	230	230	230	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for losses on off-balance sheet commitments
102	0	0	0	129	0	0	0	0	0	100	-208	165	0	0	150	0	-277	324	-109	-201	336	13	-15	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense
1,732	1,587	1,514	1,493	1,726	1,438	1,398	1,435	1,466	1,719	1,471	1,652	1,593	1,576	1,430	1,530	1,531	1,546	1,281	1,590	1,567	1,379	1,586	1,749	1,925	721	1,704	1,851	1,698	1,523	1,617	1,580	1,479	2,341	1,455	1,508	1,284	1,198	1,442
Total non-interest expense
15,469	13,326	14,200	14,916	15,528	13,705	13,971	14,509	16,081	15,104	13,036	12,631	13,011	11,755	11,910	12,017	12,010	11,144	11,638	12,319	11,848	11,613	11,350	11,457	12,843	13,871	10,107	10,419	9,695	9,582	9,592	9,685	9,835	9,734	9,421	9,998	9,130	8,507	8,591
Income before provision for income taxes
9,570	12,386	12,272	11,147	10,089	12,990	11,804	10,571	8,052	6,526	7,818	7,769	6,725	8,984	11,135	7,570	8,791	7,706	7,543	6,743	6,939	7,685	8,482	8,185	7,117	3,674	6,368	4,730	7,437	7,325	5,026	8,296	8,061	5,008	6,864	5,586	7,297	5,365	5,321
Provision for income taxes
2,342	3,307	2,824	2,912	2,610	3,328	3,124	2,680	1,663	5,416	2,686	2,583	2,177	3,297	4,171	2,733	3,145	2,781	2,770	2,457	2,482	2,993	3,104	3,017	2,584	1,329	2,364	1,675	2,571	2,623	1,802	3,345	3,121	1,625	2,631	2,147	2,788	2,006	1,983
Net income
7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	1,110	5,132	5,186	4,548	5,687	6,964	4,837	5,646	4,925	4,773	4,286	4,457	4,692	5,378	5,168	4,533	2,345	4,004	3,055	4,866	4,702	3,224	4,951	4,940	3,383	4,233	3,439	4,509	3,359	3,338
Net income per common share:
Basic (in dollars per share)
0.53	0.67	0.70	0.60	0.54	0.69	0.63	0.57	0.46	-1.15	0.84	0.85	0.75	0.94	1.14	0.80	0.93	0.82	0.80	0.72	0.75	0.79	0.91	0.88	0.77	0.42	0.74	0.56	0.90	0.88	0.60	0.93	0.93	0.64	0.80	0.65	0.85	0.64	0.64
Diluted (in dollars per share)
0.53	0.65	0.69	0.60	0.54	0.69	0.62	0.56	0.46	-1.14	0.83	0.84	0.74	0.92	1.14	0.79	0.93	0.80	0.79	0.71	0.74	0.78	0.89	0.86	0.76	0.41	0.72	0.55	0.89	0.86	0.59	0.91	0.91	0.63	0.79	0.64	0.84	0.63	0.63
Weighted average shares:
Basic (in shares)
13,525	13,517	13,571	13,655	13,737	13,841	13,900	13,888	13,827	31,243	6,123	6,110	6,092	6,083	6,083	6,078	6,048	6,035	5,963	5,945	5,921	5,911	5,903	5,888	5,870	5,587	5,433	5,419	5,389	5,357	5,344	5,337	5,326	5,313	5,310	5,300	5,283	5,241	5
Diluted (in shares)
13,656	13,699	13,735	13,818	13,924	13,929	14,110	14,066	14,011	31,643	6,191	6,174	6,172	6,144	6,117	6,109	6,090	6,083	6,067	6,062	6,048	6,037	6,014	5,993	5,980	5,698	5,538	5,509	5,487	5,451	5,455	5,419	5,425	5,394	5,390	5,385	5,366	5,311	5
Dividends declared per common share (usd per share)
-	-	-	-	-	-	-	-	-	-	-	0.27	0.27	0.27	0.25	0.25	0.25	0.24	0.22	0.22	0.22	0.22	0.20	0.19	0.19	0.19	0.18	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.16	0.16	0.16	0.15	0.15
Comprehensive income:
Net Income (Loss) Attributable to Parent
7,228	9,079	9,448	8,235	7,479	9,662	8,680	7,891	6,389	1,110	5,132	5,186	4,548	5,687	6,964	4,837	5,646	4,925	4,773	4,286	4,457	4,692	5,378	5,168	4,533	2,345	4,004	3,055	4,866	4,702	3,224	4,951	4,940	3,383	4,233	3,439	4,509	3,359	3,338
Other comprehensive income
Change in net unrealized gains or losses on available-for-sale securities included in net income
9,812	-2,018	936	8,982	3,939	7,714	-2,120	-1,131	-6,170	-2,638	-362	1,961	4,710	-9,890	-831	2,119	2,923	-2,518	1,523	-1,803	1,317	892	-344	976	1,415	-2,130	-621	-1,666	-303	16	747	-39	28	-191	271	1,068	-1,058	-	-
Reclassification adjustment for (gains) losses on available-for-sale securities in net income
800	0	0	61	-6	0	-90	11	0	-	0	10	-	0	0	284	110	-2	0	0	8	-5	-4	0	-15	17	-35	0	0	0	0	-4	38	0	0	0	0	-	-
Net unrealized losses on securities transferred from available-for-sale to held-to-maturity
-	-	0	0	-	-	0	278	-	0	0	0	3,036	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity
110	117	123	104	101	120	128	132	136	126	135	124	41	21	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subtotal
9,122	-1,901	1,059	9,025	4,046	7,834	-1,902	-1,288	-6,034	-2,317	-227	2,075	1,715	-9,869	-831	1,835	2,813	-2,455	1,523	-1,803	1,309	897	-340	976	1,430	-2,147	-586	-1,666	-303	16	747	-43	66	-191	271	1,068	-1,058	-	-
Deferred tax expense
2,697	-558	313	2,671	1,198	2,318	-562	-384	-1,784	-1,061	-96	892	704	-4,149	-367	776	1,174	-1,048	654	-691	554	375	-141	450	519	-903	-246	-700	-126	6	314	-18	28	-81	114	449	-445	-	-
Other comprehensive income, net of tax
6,425	-1,343	746	6,354	2,848	5,516	-1,340	-904	-4,250	-1,256	-131	1,183	1,011	-5,720	-464	1,059	1,639	-1,407	869	-1,112	755	522	-199	526	911	-1,244	-340	-966	-177	10	433	-25	38	-110	157	619	-613	-	-
Comprehensive income
13,653	7,736	10,194	14,589	10,327	15,178	7,340	6,987	2,139	-146	5,001	6,369	5,559	-33	6,500	5,896	7,285	3,518	5,642	3,174	5,212	5,214	5,179	5,694	5,444	1,101	3,664	2,089	4,689	4,712	3,657	4,926	4,978	3,273	4,390	4,058	3,896	-	-
Deposit Account
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
451	462	439	485	479	484	475	455	477	447	438	447	452	445	447	441	456	461	489	504	525	531	552	528	556	517	509	515	521	529	528	549	524	447	478	468	443	446	463
Fiduciary and Trust
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
504	501	495	473	438	426	490	488	515	544	539	504	503	491	506	527	566	582	568	603	638	565	567	613	564	544	532	539	547	513	507	488	456	445	486	469	434	364	368
Debit Card
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
360	386	406	414	380	403	402	360	396	385	390	384	372	391	393	381	338	358	372	368	347	343	375	360	300	284	288	280	252	261	261	259	234	233	221	203	188	-	-
Merchant Interchange Fees, Net
Service charges on deposit accounts, wealth management and trust services, debit card interchange fees net, and merchant interchange fees net
73	78	79	87	87	81	99	118	80	102	88	112	96	94	114	128	113	115	171	129	130	174	224	207	198	199	196	222	205	177	183	186	193	-	58	159	-	-	-