Bank Of Marin Bancorp · NASDAQ:BMRC
Bank Of Marin Bancorp — Q1 2025 Earnings Presentation
22 slides from Bank Of Marin Bancorp's earnings presentation, 2025
Slide 1: First Quarter 2025 Earnings Presentation
First Quarter 2025 Earnings Presentation
Slide 2: Forward-Looking Statements
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 sections of th
Slide 3: Bank of Marin Bancorp at a Glance
Bank of Marin Bancorp BMRC AT A GLANCE 27 Branch Locations BMRC Novato, CA 8 Commercial NASDAQ Headquarters Banking Offices $3.8 Billion $357.6 Million Total Assets Market Cap Relationship Banking 16.69% 4.53% Build strong, long-term customer relationships based on trust, integrity and expertise, in
Slide 4: First Quarter 2025 Overview
First Quarter 2025 Overview • Originated $63.6 million in new loans ($47.4 million funded) including $50.2 million in commercial loans ($43.2 million funded). Funded Commercial loans were more than 5x Q1 of last year. Highlights • Continued selected deposit rate reductions dropping the average cost
Slide 5: Net Interest Margin Drivers
Net Interest Margin Drivers • Linked-quarter NIM increased 6 bps due primarily to reduction of cost of deposits and minor changes in the loan and investment securities mix, partially offset by lower average balances and lower rates given the Federal Funds rate cut on due from bank accounts • The Ban
Slide 6: Robust Capital Ratios
Robust Capital Ratios As of 3/31/25 • We maintained high capital levels and are in a position of strength 16.7% 15.5% 15.5% • Total risk-based capital of 16.7% • Tangible common equity ratio of 9.8% 10.6% 10.0% 9.8% • No stock repurchases in 1Q'25 8.0% 8.1% 6.5% 5.0% Common Equity Tier- Total Tier-O
Slide 7: Strong Liquidity: $1.9 Billion in Net Availability
Strong Liquidity: $1.9 Billion in Net Availability • Immediately available contingent funding represented 203% of March 31, 2025, estimated uninsured and/or uncollateralized deposits • The Bank has long-established minimum liquidity requirements regularly monitored using metrics and tools similar to
Slide 8: Strong Deposit Franchise
Strong Deposit Franchise • Deposit mix continues to favor a high percentage of non-interest bearing deposits • Total cost of deposits was 1.29% (interest-bearing 2.27%) for 1Q'25 and 1.36% (interest-bearing 2.44%) for the prior quarter • March cost of deposits and spot rate as of March 31, 2025 were
Slide 9: Granular Deposit Account Composition
New Accounts Mix (by count) Granular Deposit 1Q'25 Account Composition Existing Relationships - New $ 19% • 44% of new accounts consisted of new New relationships to the Bank by count • 59% of new accounts were non-interest Relationships 1,017 44% bearing by count Account Migration • Average weighte
Slide 10: Prudent, Sustainable Model for Loan Growth
Prudent, Sustainable Model for Loan Total Loans ($ in billions) Growth • Loan originations were at yields higher $2.256 than those on paid off loans $2.089 $2.093 $2.074 $2.083 $2.073 • Notable pipeline growth and diversification from key hires, compensation program enhancements, 4.83% 4.88% and cal
Slide 11: Well-diversified Loan Portfolio
Well-diversified Loan Portfolio As of 3/31/25 - No material changes from 4Q'24 • Loan portfolio is well-diversified across borrowers, industries, loan and property types within our geographic footprint • 88% of all loans and 94% of loans excluding nonprofit organizations are guaranteed by owners of
Slide 12: NOO CRE Portfolio Diversified Across Property Type & County
NOO CRE Portfolio Diversified Across Property Type & County As of 3/31/25 - No material changes from 4Q'24 Retail 1Q'25 Warehouse & Industrial 1Q'25 Multifamily 1Q'25 San Francisco 3% San Francisco Sonoma Alameda 12% Sonoma 12% Marin 6% 15% Sonoma 10% 28% San Francisco Sacramento Other Alameda 30% 2
Slide 13: Non-owner Occupied Office Exposure
Non-owner Occupied Office Exposure As of 3/31/25 - No material changes from 4Q'24 • $363 million in credit exposure spread across our lending footprint comprised of 147 loans • $2.5 million average loan balance – largest loan at $15.9 million • 59% weighted average loan-to-value and 1.61x weighted a
Slide 14: Owner-Occupied CRE Portfolio
Owner-Occupied CRE Portfolio As of 3/31/25 - No material changes from 4Q'24 OO CRE by Type 1Q'25 OO CRE by County 1Q'25 OO CRE Office Portfolio by County 4Q24 Retail Napa 7% Marin 16% Marin Napa Industrial 23% School 20% 22% 20% 15% Sacramento Alameda $319MM Wine Alameda 14% $319MM 19% 6% $63MM 10%
Slide 15: Construction Portfolio Concentrations
Construction Portfolio Concentrations As of 3/31/25 Construction by Type 1Q'25 Construction by County 1Q'25 Marin 12% Other Bay Area Multi-Family 11% 44% 1-4 Residential 56% $26MM $26MM Napa San Francisco 12% 65% Average Balance: $2.9MM Largest Loan: $6.7MM Wtd. Avg. LTV*: 60% Total Balance: $25.7MM
Slide 16: History of Strong Asset Quality
History of Strong Asset Quality • Allowance for credit losses to total loans of 1.44%, consistent with prior quarter • Proactively sold one non-accrual commercial real estate loan to minimize loss • Consistent, robust credit culture and underwriting principles support strong asset quality • Net char
Slide 17: Low Refinance Risk in NOO CRE Portfolio through 2026
Low Refinance Risk in NOO CRE Portfolio Maturing Loan Commitments > $1.0MM through 2026 # of Outstanding Wtd. Avg. loans Commitment Balance Wtd. Avg. Rate DSC • We conducted a DEEP DIVE on loans maturing or repricing before year-end 2025 24 $84.9MM $81.3MM 4.93% 1.30x 2026 * 2026 25 $93.0MM $86.0MM
Slide 18: Loans & Securities — Repricing & Maturity
Loans & Securities — Repricing & Maturity $ in millions, unless otherwise indicated Total Loans1 * at 3/31/2025 Repricing Term Rate Structure Floating Floating & & Variable Variable 3 mo 3-12 1-3 3-5 5-15 Over 15 Floating Variable Rate at Rate at Fixed or less mos years years years years Total Rate
Slide 19: High-Quality Securities Portfolio Generates Cash Flow
High-Quality Securities Portfolio Generates Cash Flow Data as of 3/31/25 AFS Securities Portfolio HTM Securities Portfolio USTs 3% Corporate Bonds Corporate Bonds & Other 2% Municipal Bonds 1% 7% Municipal Bonds GSEs 21% 14% GSEs $406.0MM $834.6MM 2% Agency MBS/CMO 73% Agency MBS/CMO 77% ($ in milli
Slide 20: Appendix
Th. Bank of Marin Bancorp Appendix
Slide 21: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share amounts; unaudited) March 31, 2025 Tangible Common Equity - Bancorp Total stockholders' equity $ 439,566 Goodwill and core deposit intangible (75,319) Total TCE a 364,247 Unrealized losses on HTM securities, net of
Slide 22: Contact Us
Contact Us Tim Myers Dave Bonaccorso President and Chief Executive Officer EVP, Chief Financial Officer (415) 763-4970 (415) 884-4758 timmyers@bankofmarin.com davebonaccorso@bankofmarin.com Media Requests: Yahaira Garcia-Perea Marketing & Corporate Communications Manager (916) 231-6703 yahairagarcia
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