Bank Of Marin Bancorp · NASDAQ:BMRC
Bank Of Marin Bancorp — Keefe, Bruyette & Woods Community Bank Investor Conference 2022
19 slides from Bank Of Marin Bancorp's conference presentation, Aug 1, 2022
Slide 1: Delivering value through strategic and disciplined growth
Delivering value through strategic and disciplined growth Keefe, Bruyette & Woods Community Bank Investor Conference August 2 - 3, 2022
Slide 2: Forward-Looking Statements
2 Nasdaq: BMRC Forward-Looking Statements This discussion of financial results includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "1933 Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "1934 Act"). Those
Slide 3: Bank of Marin Bancorp
Bank of Marin Bancorp Recent awards: FIVE STAR BANK BAUER 3 Nasdaq: BMRC Headquarters Novato, California Marin County, North of San Francisco Employees, full-time equivalent 290 Assets $4.3 billion Market Capitalization $508.8 million Ticker BMRC (Nasdaq Capital Markets) Founded 1989 First branch op
Slide 4: Management team
Tim Myers President & Chief Executive Officer •26 years in finance and banking •15 years with Bank of Marin Rich Lewis EVP, Chief Information Officer •25 years in financial services •Joined Bank of Marin in 2020 Tani Girton EVP, Chief Financial Officer •36 years in financial services •8 years with B
Slide 5: Relationship and community focused banking model on a regional scale
5 Nasdaq: BMRC • 31 retail branches and 8 commercial banking offices located across 10 counties. • Sound underwriting produces a high-quality loan portfolio with low credit costs and stable earnings. • Strong deposit base with low- cost funding source for lending activity. Delivering a relationship
Slide 6: Balanced Approach to Growth Creates Long-Term Value
6 Nasdaq: BMRC Balanced Approach to Growth Creates Long-Term Value 5 year average annual return: 4.59%1 1As of June 30, 2022 10 year average annual return: 7.70%1 Total annual shareholder return averages 8.90% over 20 years1 As of 7/25/22 the stock price was $32.81 Book Value per Common Share Closin
Slide 7: Prudent, Sustainable Model for Loan Growth
Prudent, Sustainable Model for Loan Growth 7 Nasdaq: BMRC ($ billions) Five-year compound annual loan growth rate: 7.72% 2 1 Net of $420 thousand in unrecognized PPP loan fees and costs. 2 Compounded annual growth rate from June 30, 2017 to June 30, 2022. PPP Loans: $17.0 million 1 Excluding PPP: $2
Slide 8: Investment Securities, AOCI and Tangible Equity
Investment Securities, AOCI and Tangible Equity 8 Nasdaq: BMRC M ill io ns $315.1 $378.8 $371.0 $341.4 $331.0 22.0% 27.0% 35.0% 40.0% 42.0% 10.4% 9.1% 8.8% 8.0% 7.8% Tangible equity (net AOCI Impact) Accumulated Other Comprehensive Income Accumulated Other Comprehensive Loss Investments/Total Assets
Slide 9: Low-Cost Deposit Base: A Key Competitive Advantage
Low-Cost Deposit Base: A Key Competitive Advantage ($ billions) 9 Nasdaq: BMRC 1 Compounded annual growth rate from June 30, 2017 to June 30, 2022. Q2 2022 Cost of Deposits 0.06% Five-year compound annual deposit growth rate: 15.78%1 Total Dep osits $2.15 $2.17 $2.34 $2.50 $3.81 $3.83 2017 2018 2019
Slide 10: Low Efficiency Ratio Demonstrates Disciplined Expense Control
Low Efficiency Ratio Demonstrates Disciplined Expense Control 10 Nasdaq BMRC 1 Peer group includes major exchange-traded Western region banks with assets of $1 billion to $6.5 billion. Latest available peer data as of Q1 2022. 2 Non-GAAP adjusted for merger-related expenses. Refer to page 12 for a r
Slide 11: 2022 & 2021 Results (Adjusted for one-time acquisition-related costs)
2022 & 2021 Results (Adjusted for one-time acquisition-related costs) 11 Nasdaq: BMRC 1 2022 and 2021 results are non-GAAP adjusted for merger-related expenses. Refer to page 12 for a reconciliation of GAAP to non-GAAP financial measures. 2 Excludes SBA PPP loans. 3 Decrease primarily due to a highe
Slide 12: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 12 Nasdaq: BMRC (in thousand, unaudited) Three months ended Six months ended Year ended Net income June 30, 2022 March 31, 2022 June 30, 2022 June 30, 2021 December 31, 2021 Net income (GAAP) $ 11,066 $ 10,465 $ 21,531 $ 18,232 $ 33,228 Merger-re
Slide 13: Tax Equivalent Net Interest Margin
3.80% 3.90% 3.98% 3.55% 3.17% 2.96% 3.05% 3.79% 4.10% 4.10% 3.50% 3.29% 3.12% Bank of Marin Bancorp Peer Group Median 2017 2018 2019 2020 2021 Q1'22 Q2'22 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% Tax Equivalent Net Interest Margin 13 Nasdaq: BMRC 1 Peer group includes major exchange-traded Western
Slide 14: Strong Capital Ratios Support Future Growth Opportunities
Strong Capital Ratios Support Future Growth Opportunities 14 Nasdaq: BMRC 6.5% 8.0% 10.0% 5.0% 13.8% 13.8% 14.7% 9.1% 7.8% Well Capitalized Threshold Bank of Marin Bancorp (as of June 30, 2022) Common Equity Tier-One Risk-Based Capital Total Tier-One Risk-Based Capital Total Risk-Based Capital Tier-
Slide 15: Peer Comparison Financial Measures
Peer Comparison Financial Measures (Adjusted for one-time acquisition-related costs) 15 Nasdaq: BMRC Performance Measures (dollars in thousands) BMRC Q1 2022 Peer Median Q1 2022 Percentile BMRC FY 2021 Peer Median FY 2021 Percentile Non-Interest Bearing/Total Deposits 50.78 % 37.72 % 94.2 % 50.16 %
Slide 16: Dependable Earnings and Dividend Growth
$1.89 $1.27 $2.33 $2.48 $2.22 $2.30 $0.51 $0.56 $0.64 $0.80 $0.92 $0.94 $23.1 $33.2 Earnings per Share Dividends per Share Net Income 2016 2017 2018 2019 2020 2021 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 Dependable Earnings and Dividend Growth 16 Nasdaq: BM
Slide 17: AMRB Acquisition Status Update
AMRB Acquisition Status Update 17 Nasdaq: BMRC Systems Conversion: • In March 2022, the Bank successfully migrated legacy ARB clients and employees onto Bank of Marin systems. Financial Performance: • EPS accretion has already exceeded modeled estimates. • One-time costs were lower than original est
Slide 18: Bank of Marin's Strategic Priorities
Bank of Marin’s Strategic Priorities 18 Nasdaq: BMRC Driving strategic and disciplined growth Drive LOAN GROWTH Grow NON-INTEREST INCOME and diversify REVENUE STREAMS Scale through EFFICIENCY GAINS and ACQUISITIONS Invest in TALENT and TECHNOLOGY
Slide 19: Contact Us
Contact Us 19 Nasdaq: BMRC Tim Myers President & Chief Executive Officer (415) 763-4970 timmyers@bankofmarin.com Tani Girton EVP, Chief Financial Officer (415) 884-7781 tanigirton@bankofmarin.com Media Requests: Yahaira Garcia-Perea Marketing & Corporate Communications Manager (916) 231-6703 yahaira
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