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Bank of Marin: Q2 Earnings Snapshot
By AP News - Jul 29, 2024, 11:58 AM ET
Last Updated - Jul 29, 2024, 11:58 AM EDT
NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Bank of Marin Bancorp (BMRC) on Monday reported a second-quarter loss of $21.9 million, after reporting a profit in the same period a year earlier.
The Novato, California-based bank said it had a loss of $1.36 per share. Earnings, adjusted for non-recurring costs, were 6 cents per share.
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The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The bank holding company posted revenue of $37.1 million in the period. Its revenue net of interest expense was $25.3 million, which also did not meet Street forecasts.
Bank of Marin shares have increased 1.5% since the beginning of the year. The stock has increased 7% 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
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