Bank Of Marin Bancorp · NASDAQ:BMRC
Bank Of Marin Bancorp — Piper Sandler 2024 Western Financial Services Conference
37 slides from Bank Of Marin Bancorp's conference presentation, Feb 29, 2024
Slide 1: Piper Sandler 2024 Western Financial Services Conference
Piper Sandler 2024 Western Financial Services Conference F e b r u a r y 2 9 , 2 0 2 4
Slide 2: Forward-Looking Statements
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Slide 3: Franchise Highlights
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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 Data as of December 31, 2023 Novato, CA Headquarters BMRC NASDAQ Capital Markets $355.8
Slide 5: Management Team
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Slide 6: Long-Term Strategic Priorities
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Slide 7: Fourth Quarter 2023 Highlights
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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: Peer Comparisons
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Slide 11: Balance Sheet Highlights
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Slide 12: Strategic Balance Sheet Repositioning During the Quarter
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Slide 13: High-Quality Securities Portfolio Generates Cash Flow
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Slide 14: Strong Deposit Franchise
14 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 ◦ Deposit mix continues to favor a high percentage of non-interest bearing deposits ◦ Total cost of deposits
Slide 15: New Accounts 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 ◦ 29% of Q4 new accounts consisted of new relationships to the Bank • 45% of Q4 new accounts were interest-be
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
17 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 ◦ The Bank has long-established minimum liquidity requirements regularly monitored using metrics and tools si
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 Prudent, Sustainable Model for Loan Growth • Sound underwriting produces a high-quality loan portfolio with l
Slide 19: Well-Diversified Loan Portfolio
19 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 Well-diversified Loan Portfolio As of 12/31/23 - No material changes from Q3 2023 OO-CRE 16% C&I 7% Consumer
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 • We conducted a DEEP DIVE on loans maturing or repricing before year-end 2025 • PORTFOLIO IS WELL-POSITIONED
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 ◦ $373 million in credit exposure spread across our lending footprint comprised of 153 loans ◦ $2.4 million a
Slide 22: NOO-CRE Portfolio Diversified Across Property Type & County
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Slide 23: Owner-Occupied CRE Portfolio
23 Text 95,96,96 Light Gray 232, 232, 232 Black 0, 0, 0 White 255, 255, 255 Accent 1 7,89,52 Accent 2 248,153,40 Accent 3 254,217,129 Accent 4 52,153,70 Accent 5 5,39,67 Accent 6 171,184,195 ($ 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
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Slide 28: Efficiency Ratio - Disciplined Expense Control
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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 History of Strong Asset Quality • Consistent, robust credit culture and underwriting principles support stron
Slide 33: Robust Capital Ratios
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Slide 34: AOCI and Tangible Equity
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Slide 35: Appendix
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Slide 36: Reconciliation of GAAP to Non-GAAP Financial Measures
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 (in thousands, unaudited) December 31, 2023 Tangible Common Equity - Bancorp Total stockholders' equity $ 439
Slide 37: Contact Us
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Bank of Marin Bancorp — Piper Sandler 2024 Western Financial Services Conference on 6ix