Bank of Marin Bancorp Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 24, 2023 at 06:16 pm IST
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Bank of Marin Bancorp reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 24.13 million. Net income was USD 4.55 million. Basic earnings per share from continuing operations was USD 0.28. Diluted earnings per share from continuing operations was USD 0.28.
For the six months, net interest income was USD 54.03 million compared to USD 61.1 million a year ago. Net income was USD 13.99 million compared to USD 21.53 million a year ago. Basic earnings per share from continuing operations was USD 0.88 compared to USD 1.35 a year ago. Diluted earnings per share from continuing operations was USD 0.87 compared to USD 1.35 a year ago.
Bank of Marin Bancorp is a holding company for Bank of Marin (the Bank). The Bank offers a suite of business and personal financial products and services designed to meet the needs of its customers. Its lending categories include commercial real estate loans, commercial and industrial loans, construction financing, consumer loans and home equity lines of credit. Through third-party vendors, it offers merchant and payroll services, a commercial equipment leasing program and credit cards. Its other products and services include payment solutions (mobile deposit and Zelle) and a wide array of treasury management services. It offers personal and business checking and savings accounts, and a number of time deposit alternatives, including time certificates of deposit, Individual Retirement Accounts (IRAs), Health Savings Accounts (HSA), Certificate of Deposit Account Registry Service (CDARS), Insured Cash Sweep (ICS), and Demand Deposit Marketplace (DDM Sweep) accounts.