Bank of Marin: Q4 Earnings Snapshot
NOVATO, Calif. (AP) _ Bank of Marin Bancorp (BMRC) on Monday reported fourth-quarter profit of $9.7 million.
The bank, based in Novato, California, said it had earnings of 61 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 66 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The bank holding company posted revenue of $34 million in the period. Its revenue net of interest expense was $33.4 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $32.5 million.
For the year, the company reported profit of $33.2 million, or $2.30 per share. Revenue was reported as $115.1 million.
Bank of Marin shares have increased slightly more than 1% since the beginning of the year. The stock has fallen slightly more than 5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRC at https://www.zacks.com/ap/BMRC