Bank of Marin Bancorp reported earnings of $12.9 million, or $0.81 per share, for the fourth quarter of 2022, driven by disciplined banking fundamentals and relationship banking model. The company also announced the closure of two branches in markets redundant with legacy American River Bank branches, as well as two additional branches in markets with nearby locations.
Achieved expected earnings contribution from American River Bank acquisition.
Maintained low cost of deposits with strong liquidity.
Improved credit risk profile ahead of any potential downturn in the overall economic environment.
Announced the closure of four branches to gain further operating efficiencies.
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