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Hot Stocks
Bank of Marin, Kelly Trust settle proxy contest and add Sanjiv Sanghvi to board » 05:32
05/11/21
05/11
05:32
05/11/21
05:32
BMRC

Bank of Marin

$35.17 /

-0.71 (-1.98%)

Bank of Marin announced…

Bank of Marin announced that the company and the Jon S. Kelly Administrative Trust have reached an agreement under which Sanjiv Sanghvi has been added to the company's board and will be included in the company's slate of directors for election to the board of directors of the company at the upcoming annual meeting of shareholders. Pursuant to the agreement, the company has agreed to immediately appoint Sanghvi to the board of the company and include Sanghvi as a nominee on its slate of director candidates to be nominated by the board for election at the 2021 annual meeting of shareholders. The 2021 annual meeting of shareholders was previously scheduled for May 11, but has been rescheduled for June 29. In connection with the agreement, the Kelly Trust has agreed to withdraw its nominations of Sanghvi and Peter Luchetti in consideration for Sanghvi being voluntarily added to the board prior to the 2021 annual meeting. In connection with the agreement, Sanghvi will also be appointed to the compensation and nominating & governance Committees of the board.

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BMRC Bank of Marin
$35.17 /

-0.71 (-1.98%)

BMRC Bank of Marin
$35.17 /

-0.71 (-1.98%)

12/16/20 Janney Montgomery Scott
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott
BMRC Bank of Marin
$35.17 /

-0.71 (-1.98%)

Over a week ago
Hot Stocks
Bank of Marin, American River Bankshares announce signing of merger pact » 08:25
04/19/21
04/19
08:25
04/19/21
08:25
BMRC

Bank of Marin

$39.13 /

-0.02 (-0.05%)

, AMRB

American River

$15.93 /

-0.43 (-2.63%)

Bank of Marin Bancorp…

Bank of Marin Bancorp (BMRC), and American River Bankshares (AMRB), parent company of American River Bank, announced the signing of a merger agreement. American River Bankshares has ten branches across the Greater Sacramento, Amador and Sonoma County regions, assets of $916.1M, total deposits of $788.6M, and total loans of $475.4M as of March 31. "This merger brings together two exceptional institutions that share complementary values and disciplined fundamentals," said Russell A. Colombo, President and Chief Executive Officer of Bank of Marin Bancorp and Bank of Marin. "Bank of Marin will be able to expand its franchise by delivering the same legendary service that is the hallmark of a community bank on a regional scale." David E. Ritchie, Jr., President and Chief Executive Officer of American River Bankshares, commented, "We are excited for the opportunity to join one of the strongest banks in the region. We believe our clients, shareholders and employees will benefit from Bank of Marin's history of profitable growth and expertise in successfully executing acquisitions. We believe their community banking model, culture and commitment to high-quality client service make Bank of Marin an excellent partner for American River Bank." The transaction will be immediately accretive to BMRC's earnings, adding to shareholder value. AMRB shareholders will receive a fixed exchange ratio of 0.575 shares of BMRC common stock for each share of AMRB common stock outstanding. Based on BMRC's closing stock price of $39.06 on April 16, 2021, the transaction is valued at $134.5 million, or $22.46 per share of AMRB common stock. Such value will fluctuate with changes in the stock price of BMRC. The total transaction value includes the value of AMRB options being paid in cash by BMRC. The transaction is expected to close in the third quarter of 2021, and upon closing the Bank will have approximately $4B in assets and operate thirty-one branches in ten counties, including Alameda, Amador, Contra Costa, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, and Sonoma. Upon closing, BMRC will add two board members from AMRB to its board. BMRC's and AMRB's boards of directors have unanimously approved the acquisition agreement. Additionally, directors of AMRB and BMRC have entered into agreements whereby they have committed to vote their shares in favor of the transaction. The closing of the acquisition is subject to satisfaction of customary closing conditions, including regulatory approvals and approval of BMRC and AMRB shareholders.

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BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

AMRB American River
$15.93 /

-0.43 (-2.63%)

BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

12/16/20 Janney Montgomery Scott
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott
AMRB American River
$15.93 /

-0.43 (-2.63%)

BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

AMRB American River
$15.93 /

-0.43 (-2.63%)

Hot Stocks
American River, Bank of Marin sign merger agreement » 08:16
04/19/21
04/19
08:16
04/19/21
08:16
AMRB

American River

$15.93 /

-0.43 (-2.63%)

, BMRC

Bank of Marin

$39.13 /

-0.02 (-0.05%)

Bank of Marin Bancorp…

Bank of Marin Bancorp (BMRC) and American River Bankshares (AMRB) announced the signing of a merger agreement. American River Bankshares has ten branches across the Greater Sacramento, Amador and Sonoma County regions, assets of $916.1 million, total deposits of $788.6 million, and total loans of $475.4 million as of March 31, 2021. The transaction will be immediately accretive to BMRC's earnings, adding to shareholder value. AMRB shareholders will receive a fixed exchange ratio of 0.575 shares of BMRC common stock for each share of AMRB common stock outstanding. Based on BMRC's closing stock price of $39.06 on April 16, 2021, the transaction is valued at $134.5 million, or $22.46 per share of AMRB common stock. Such value will fluctuate with changes in the stock price of BMRC. The total transaction value includes the value of AMRB options being paid in cash by BMRC. The transaction is expected to close in the third quarter of 2021, and upon closing the Bank will have approximately $4.0 billion in assets and operate thirty-one branches in ten counties, including Alameda, Amador, Contra Costa, Marin, Napa, Placer, Sacramento, San Francisco, San Mateo, and Sonoma. Upon closing, BMRC will add two board members from AMRB to its board. BMRC's and AMRB's boards of directors have unanimously approved the acquisition agreement. Additionally, directors of AMRB and BMRC have entered into agreements whereby they have committed to vote their shares in favor of the transaction. The closing of the acquisition is subject to satisfaction of customary closing conditions, including regulatory approvals and approval of BMRC and AMRB shareholders.

ShowHide Related Items >><<
BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

AMRB American River
$15.93 /

-0.43 (-2.63%)

AMRB American River
$15.93 /

-0.43 (-2.63%)

BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

12/16/20 Janney Montgomery Scott
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott
BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

AMRB American River
$15.93 /

-0.43 (-2.63%)

Earnings
Bank of Marin reports Q1 EPS 66c, consensus 52c » 08:06
04/19/21
04/19
08:06
04/19/21
08:06
BMRC

Bank of Marin

$39.13 /

-0.02 (-0.05%)

Net interest income…

Net interest income totaled $22M in the first quarter of 2021, compared to $23.6M in the prior quarter and $24.1 million a year ago. The $1.6 million decrease from the prior quarter was mostly attributable to $1.3 million in accelerated discount accretion from the early redemption of a subordinated debenture. Additionally, interest income declined due to two fewer days in the quarter."Bank of Marin delivered steady, reliable results throughout 2020, reflecting our sound underwriting and commitment to relationship banking," said Russell A. Colombo, President and Chief Executive Officer. "Our first quarter results in 2021 reinforced that consistency. Our credit quality is strong, and we are poised to grow as the economy reopens and our markets gain momentum."

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BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

12/16/20 Janney Montgomery Scott
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott
BMRC Bank of Marin
$39.13 /

-0.02 (-0.05%)

Over a quarter ago
Earnings
Bank of Marin reports Q4 EPS 60c, consensus 48c » 08:05
01/25/21
01/25
08:05
01/25/21
08:05
BMRC

Bank of Marin

$39.70 /

+0.23 (+0.58%)

Total cash, cash…

Total cash, cash equivalents and restricted cash were $200.3 million at December 31, 2020, compared to $213.6 million at September 30, 2020. The $13.3 million decrease was primarily due to temporary transfers of deposits to third-party deposit networks as part of our liquidity management. Effective March 26, 2020, the Federal Reserve reduced the reserve requirement ratios to zero percent in response to the COVID-19 pandemic, resulting in no restricted cash requirements as of December 31, 2020 and September 30, 2020. Net interest income totaled $23.6 million in the fourth quarter of 2020, compared to $24.6 million in the prior quarter and $23.9 million in the same quarter a year ago. The $1.0 million decrease from the prior quarter primarily related to lower SBA PPP loan income, lower average loan balances across all categories (with the exception of commercial real-estate), lower average investment securities balances, and lower yields on commercial real-estate loans. Yields on investment securities partially offset the negative variances.

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BMRC Bank of Marin
$39.70 /

+0.23 (+0.58%)

BMRC Bank of Marin
$39.70 /

+0.23 (+0.58%)

12/16/20 Janney Montgomery Scott
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott
BMRC Bank of Marin
$39.70 /

+0.23 (+0.58%)

Downgrade
Bank of Marin downgraded to Neutral from Buy at Janney Montgomery Scott » 06:39
12/16/20
12/16
06:39
12/16/20
06:39
BMRC

Bank of Marin

$38.92 /

+1.07 (+2.83%)

Janney Montgomery Scott…

Janney Montgomery Scott downgraded Bank of Marin to Neutral from Buy.

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BMRC Bank of Marin
$38.92 /

+1.07 (+2.83%)

BMRC Bank of Marin
$38.92 /

+1.07 (+2.83%)

Hot Stocks
Bank of Marin announces reactivation of $25M share repurchase program » 08:05
10/26/20
10/26
08:05
10/26/20
08:05
BMRC

Bank of Marin

$32.91 /

+0.53 (+1.64%)

On October 23the Board of…

On October 23the Board of Directors approved reactivation of the $25.0 million share repurchase program that was suspended on March 20, 2020 as part of our proactive pandemic response. Loans and Credit Quality

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BMRC Bank of Marin
$32.91 /

+0.53 (+1.64%)

BMRC Bank of Marin
$32.91 /

+0.53 (+1.64%)

Earnings
Bank of Marin reports Q3 EPS 55c, consensus 52 » 08:04
10/26/20
10/26
08:04
10/26/20
08:04
BMRC

Bank of Marin

$32.91 /

+0.53 (+1.64%)

"We continue to work…

"We continue to work closely with our customers, drawing on our strong capital and liquidity positions as well as our more than 30-year history of steady performance to help them navigate this challenging economic environment," said Tani Girton, EVP and Chief Financial Officer. "We have done this while maintaining strong credit quality, a low-cost deposit base, and solid profits for our shareholders." Net interest income totaled $24.6 million in the third quarter of 2020, compared to $24.4 million in the prior quarter and $24.2 million a year ago. The $191 thousand increase from the prior quarter was primarily related to a $731 thousand increase in interest income due to higher average balances on SBA PPP loans as well as an additional day of interest income in the quarter, partially offset by the effect of lower balances and yields on non-PPP loans and investment securities. Yields on non-PPP loans have fallen over the course of 2020 due to loans originated prior to 2020 repricing downward with declining interest rates as well as the reduction in commercial Prime Rate loan floors."

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BMRC Bank of Marin
$32.91 /

+0.53 (+1.64%)

BMRC Bank of Marin
$32.91 /

+0.53 (+1.64%)

Earnings
Bank of Marin reports Q2 EPS 55c, consensus 41c » 08:16
07/20/20
07/20
08:16
07/20/20
08:16
BMRC

Bank of Marin

$31.87 /

-0.2 (-0.62%)

Reports Q2 book value per…

Reports Q2 book value per share $25.92. Reports Q2 total risk-based capital ratio for the bank and bancorp 15% and 15.8%, respectively. "Though the pandemic created sudden and substantial financial hardship for many, our sound underwriting and strong capital and liquidity positions enabled us to efficiently help businesses access resources like the Paycheck Protection Program," said Russell Colombo, President and CEO. "Our more than 30-year history of consistently strong performance is proof of our ability to navigate through economic downturns and emerge ready to grow along with our customers. We will continue to work together now to ensure they bridge the gap to recovery."

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BMRC Bank of Marin
$31.87 /

-0.2 (-0.62%)

BMRC Bank of Marin
$31.87 /

-0.2 (-0.62%)

Hot Stocks
Bank of Marin names Timothy D. Myers COO » 18:44
06/30/20
06/30
18:44
06/30/20
18:44
BMRC

Bank of Marin

$33.38 /

+1.47 (+4.61%)

Bank of Marin Bancorp…

Bank of Marin Bancorp announced that Russell A. Colombo, President and CEO, named Timothy D. Myers as Executive Vice President and Chief Operating Officer of the Bank, effective immediately. Previously, he was the Bank's Executive Vice President, Commercial Banking. As Chief Operating Officer, Mr. Myers will be responsible for the management of Commercial Banking, Retail Banking, Wealth Management & Trust and Marketing. "Thanks to his many years of service, Tim knows Bank of Marin's business model, as well as our customers and our people. He has played an integral role in cultivating the Bank's mission, values and culture," said Russell A. Colombo, President and Chief Executive Officer. "During these unprecedented and challenging times, stability and consistency are more important than ever. I am pleased that Tim was prepared to step into the role of Chief Operating Officer to help drive the Bank forward."

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BMRC Bank of Marin
$33.38 /

+1.47 (+4.61%)

BMRC Bank of Marin
$33.38 /

+1.47 (+4.61%)

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