Loading...
•
Mar 31, 2020
Bank of Marin Q1 2020 Earnings Report
Reported earnings of $7.2 million, responding to impacts of the novel coronavirus.
Key Takeaways
Bank of Marin Bancorp reported earnings of $7.2 million for the first quarter of 2020. Net income was impacted by a $2.2 million provision for loan losses related to COVID-19 and increases in non-interest expenses. These were partially offset by gains on investment securities sales and accelerated discount accretion from an investment security call.
Loans totaled $1,843.9 million, an increase of $574 thousand.
Total deposits decreased to $2,307.1 million.
Non-accrual loans represented 0.09% of the Bank's loan portfolio.
The Board of Directors declared a cash dividend of $0.23 per share.
Forward Guidance
The pandemic is expected to result in lower interest rates, higher volatility and some deterioration in household, business, and market conditions that will impact the company in the coming quarters.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...