Bank Of Marin Bancorp · NASDAQ:BMRC
Bank Of Marin Bancorp — D.A. Davidson 26th Annual Financial Institutions Conference 2024
36 slides from Bank Of Marin Bancorp's conference presentation, May 8, 2024
Slide 1: D.A. Davidson 26th Annual Financial Institutions Conference
D.A. Davidson 26th Annual Financial Institutions Conference Ma y 8 - 1 0 , 2 0 2 4
Slide 2: Forward-Looking Statements
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Slide 3: Franchise Highlights
S E C T I O N Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Franchise Highl ights 01
Slide 4: Bank of Marin Bancorp at a Glance
4 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Bank of Marin Bancorp Novato, CA Headquarters BMRC NASDAQ $273.1 Million Market Cap $3.8 Billion Total Assets
Slide 5: Executive Management Team
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Slide 6: Long-Term Strategic Priorities
6 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Long-Term Strategic Priorities A strategic and disciplined approach to delivering long-term value 01 02 03 04
Slide 7: First Quarter 2024 Highlights
7 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 First Quarter 2024 Highlights (1) See Reconciliation of Non-GAAP Financial Measures in the Appendix Activities
Slide 8: Focused on Building Long-Term Shareholder Value
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Slide 9: Focused on Delivering Long-Term, Consistent Growth
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Slide 10: Robust Capital Ratios
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Slide 11: Balance Sheet Highlights
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Slide 12: Strategic Balance Sheet Repositioning During Q4 2023
12 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Strategic Balance Sheet Repositioning During Q423 • Bank generated $126 million in proceeds from AFS security
Slide 13: High-Quality Securities Portfolio Generates Cash Flow
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Slide 14: Strong Deposit Franchise
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Slide 15: New Accounts Mix and Deposit Account Composition
15 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 • 34% of Q1 new accounts consisted of new relationships to the Bank • 47% of Q1 new accounts were interest- b
Slide 16: Low Deposit Beta Through Cycles
16 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Peers are major exchange-traded U.S. Western-region banks with $2 billion to $10 billion in assets. Source: S
Slide 17: Strong Liquidity: $1.9 Billion in Net Availability
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Slide 18: Prudent, Sustainable Model for Loan Growth
18 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 • First quarter 2024 loan originations were at yields significantly higher (266 bps) than those on paid off l
Slide 19: Well-diversified Loan Portfolio
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Slide 20: Low Refinance Risk in NOO CRE Portfolio through 2025
20 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Low Refinance Risk in NOO CRE Portfolio through 2025 • We conducted a DEEP DIVE on loans maturing or repricin
Slide 21: Non-owner Occupied Office Exposure
21 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 • $367 million in credit exposure spread across our lending footprint comprised of 151 loans • $2.4 million a
Slide 22: NOO-CRE Portfolio Diversified Across Property Type & County
22 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 * Calculated for loans exceeding $1 million, based on the most recent annual review process Note: Sacramento
Slide 23: Owner-Occupied CRE Portfolio
23 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 ($ in millions at Fair Value) * Loan-to-value largely based on appraised values at origination, or updated ap
Slide 24: Construction Portfolio Concentrations
24 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 ($ in millions at Fair Value) * Loan-to-value largely based on appraised values at origination, or updated ap
Slide 25: Income Statement Highlights
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Slide 26: Tax Equivalent Net Interest Margin
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Slide 27: Net Interest Margin Drivers
27 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 • Linked-quarter NIM decreased 3 basis points, due primarily to higher deposit rates and reduction in average
Slide 28: Efficiency Ratio - Disciplined Expense Control
28 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 55.2% 55.6% 63.1% 54.4% 73.8% 83.2% 62.5% 59.4% 61.7% 57.0% 60.5% Bank of Marin Bancorp Peer Group Median 201
Slide 29: Loans & Securities — Repricing & Maturity
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Slide 30: Total Non-Interest Components
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Slide 31: Capital & Asset Quality
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Slide 32: History of Strong Asset Quality
32 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 ($ in millions at Fair Value) History of Strong Asset Quality • Upgraded $10.5 million from special mention t
Slide 33: AOCI and Tangible Equity
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Slide 34: Appendix
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Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures
35 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, unaudited) March 31, 2024 Tangible Commo
Slide 36: Contact Us
36 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 Contact Us Tim Myers President and Chief Executive Officer (415) 763-4970 timmyers@bankofmarin.com Tani Girto
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