Bank of Marin Bancorp reported earnings of $5.3 million for the third quarter of 2021, a decrease compared to the previous quarter and the same quarter last year. The results reflect the consolidated operations of American River Bankshares, which was acquired during the quarter. The merger contributed significantly to loan and deposit balances, increasing total assets and stockholder's equity.
Third quarter earnings were $5.3 million, down from $9.3 million in the second quarter of 2021 and $7.5 million in the third quarter of 2020.
Diluted earnings per share were $0.35 in the third quarter, compared to $0.71 in the prior quarter and $0.55 in the same quarter last year.
The merger with American River Bankshares contributed $419.4 million in loans and $790.0 million in deposits.
Total assets increased to $4.261 billion and total stockholder's equity to $458.5 million as of September 30, 2021, due to the merger.
Bank of Marin is focused on integrating American River Bankshares and leveraging the combined entity's strengths for long-term growth and shareholder returns.
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