Bank of Marin Bancorp · NASDAQ:BMRC
Bank of Marin Bancorp — Q3 2026 Earnings Presentation
32 slides from Bank of Marin Bancorp's earnings presentation, Oct 26, 2026
Slide 1: Third Quarter 2026 Results
Third Quarter 2026 Results October 26, 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This discussion of financial results includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "1933 Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "1934 Act"). Those sections of th
Slide 3: Franchise Highlights
Franchise Highlights S E C T I O N 01
Slide 4: Bank of Marin Bancorp at a Glance
Bank of Marin Bancorp 27 Branch BMRC AT A GLANCE Locations BMRC Novato, CA 8 Commercial NASDAQ Headquarters Banking Offices $3.9 Billion $439.6 Million Total Assets Market Cap Relationship Banking 15.59% 3.69% Build strong, long-term customer relationships based on trust, integrity and expertise, in
Slide 5: 195 Years of Combined Experience Through Various Economic Cycles
195 Years of Combined Experience Through Various Economic Cycles Tim Myers Sathis Arasadi David Bloom President and Chief Executive Officer EVP, Chief Information Officer EVP, Head of Commercial Banking • 29 years of finance and • 34 years of engineering, • 32 years of commercial banking experience
Slide 6: A strategic and disciplined approach to delivering long-term value
A strategic and disciplined approach to delivering long-term value Drive high-quality LOAN GROWTH 01 02 Grow NON-INTEREST INCOME 03 Scale through EFFICIENCY GAINS and ACQUISITIONS 04 Invest in TALENT and TECHNOLOGY 6
Slide 7: Third Quarter 2026 Overview
Third Quarter 2026 Overview • YTD EPS up 62% (non-GAAP) over prior year • Return on average tangible common equity improved to 12.26% from 11.55% • Net interest margin was 3.48% compared to 3.38% in the prior quarter mainly due to improved average loan yields of 11 basis points • Total loans increas
Slide 8: Focused on Building Long-Term Shareholder Value
Focused on Building Long-Term Shareholder Value Strong Core Deposit Franchise • Largest community bank in Marin County with 11.21% market share 1 • 37.8% noninterest-bearing deposits with a 1.24% cost of deposits in Q3 Robust Capital Levels & Liquidity • Regulatory capital ratios remain comfortably
Slide 9: Focused on Delivering Long-Term, Consistent Growth
Tangible Book Value Per Share and Cumulative Cash Dividends Focused on Delivering $30.00 Long-Term, Consistent Growth $25.00 $24.02 $23.29 $22.24 $22.44 $22.37 ▪ Proven ability to grow both $20.28 $20.85 $19.87 $19.92 organically and through M&A $20.00 $18.08 $18.81 $19.77 $18.81 ▪ Consistent cash d
Slide 10: Income Statement Highlights
Income Statement Highlights S E C T I O N 02
Slide 11: Net Interest Margin Drivers
Net Interest Margin Drivers • Linked-quarter NIM increased 10bps due mostly to an 11bps increase in loan yields, a 4bps decrease in cost of deposits, and the use of one-way sales of deposits, which improved the mix of assets and liabilities • Higher percentage of noninterest-bearing deposits resulte
Slide 12: Total Non-Interest Components
Total Non-Interest Components Non-interest Income1 ($ in millions) Non-interest Expense ($ in millions) 276.7% $14.2 $81.3 $86.3 $75.3 $77.1 $78.7 $72.6 $10.9 $10.9 $11.2 $11.6 $10.1 $58.5 112.1% $8.6 73.2% 0.37% 55.6% 63.1% 54.4% 58.7% 0.30% 0.29% 0.30% 0.30% 0.25% 0.27% 69.3% 76.6% 69.2% 2020 2021
Slide 13: Loans & Securities — Repricing & Maturity
Loans & Securities — Repricing & Maturity $ in millions, unless otherwise indicated Total Loans * at 9/30/2026 Repricing Term Rate Structure Floating & Variable 3 mo 3-12 1-3 3-5 5-15 Over 15 Floating Variable Rate at Fixed or less mos years years years years Total Rate Rate Floor Rate C&I $72.7 $9.
Slide 14: Balance Sheet Highlights
Balance Sheet Highlights S E C T I O N 03
Slide 15: Prudent, Sustainable Model for Loan Growth
Total Loans ($ in billions) Prudent, Sustainable $2.256 $2.093 $2.074 $2.083 $2.121 $2.144 Model for Loan Growth 4.83% 4.99% 5.13% 4.65% 4.23% 4.29% • Loan fundings in Q3 were $63.6 million ($102.4 million total commitments) • Notable pipeline growth and *2021 2022 2023 2024 2025 YTD 3Q'26 diversifi
Slide 16: Well-Diversified Loan Portfolio
Well-Diversified Loan Portfolio As of 9/30/26 - No material changes from 2Q'26 • Loan portfolio is well-diversified across borrowers, industries, loan and property types within our geographic footprint • 88% of all loans and 92% of loans excluding nonprofit organizations are guaranteed by owners of
Slide 17: Strong Deposit Franchise
Strong Deposit Franchise Total Deposits ($ in millions) Total Deposit Mix at 3Q'26 Time 4.2% $3,574 $119 $3,416 $3,395 $3,290 $3,220 $1,328 $206 $142 $251 $242 $1,724 $1,538 $1,372 $1,380 Noninterest- Bearing Transaction Money $3.40B 37.8% Market $288 44.1% $357 $323 $418 $247 $1,839 Savings $1,310
Slide 18: Deposit Highlights
Cost of Deposits & Interest-Bearing Deposit Highlights Deposits vs Peers • Q3 Cost of deposits: 1.24% (interest-bearing 2.03%) • 9/30/2026 Spot rate: 1.27% (interest-bearing 2.05%) 3.00% • Q3 Cost of deposits for our 436 new relationships: 0.55% (interest-bearing 1.34%) 2.00% • Noninterest-bearing d
Slide 19: High-Quality Securities Portfolio Generates Cash Flow
High-Quality Securities Portfolio Generates Cash Flow Data as of 9/30/26 AFS Securities Portfolio (at Fair Value) Municipal Bonds (Fixed) 4% Agency MBS (Fixed) 42% Debentures of government agencies Tax Equivalent Yield — 4.07% (Fixed) 2% Effective Duration — 3.0 Unrealized Losses, net (pre tax) — $7
Slide 20: Strong Liquidity: $2.2 Billion in Net Availability
Strong Liquidity: $2.2 Billion in Net Availability • The Bank has long-established minimum liquidity requirements regularly monitored using metrics and tools similar to larger banks, such as the liquidity coverage ratio and multi-scenario, long-horizon stress tests • Deposit outflow assumptions for
Slide 21: Capital & Asset Quality
Capital & Asset Quality S E C T I O N 04
Slide 22: Robust Capital Ratios
Robust Capital Ratios As of 9/30/26 The Bank's capital plan and point-in-time capital stress tests 15.6% 14.8% indicate that capital ratios will 13.9% 13.9% remain above regulatory well- 13.0% 13.0% capitalized and internal policy minimums throughout a five- 10.0% 9.7% year forecast horizon and acro
Slide 23: History of Strong Asset Quality
History of Strong Asset Quality • Special mention loans decreased by $35.8 million due to upgrades and payoffs of $18.2 million and $17.6 million in downgrades to classified. Classified loans increased by $15.2 million to 1.63% of total loans from 0.95% last quarter. The primary driver of the decrea
Slide 24: Low Refinance Risk in NOO CRE Portfolio through 2027
Low Refinance Risk in NOO CRE Portfolio Maturing Loan Commitments > $1.0MM through 2027 Outstanding # of Commitment Balance Wtd. Avg. • We conducted a deep dive on loans loans (millions) (millions) Wtd. Avg. Rate DSC maturing or repricing before year-end 2026 13 $44.7 $38.7 5.25% 1.20x 2027 2027 26
Slide 25: Non-Owner Occupied Office Exposure
Non-Owner Occupied Office Exposure As of 9/30/26 - No material changes from 2Q'26 • $373 million in credit exposure spread across our lending footprint comprised of 148 loans • $2.5 million average loan balance – largest loan at $15.3 million • 57% weighted average loan-to-value and 1.68x weighted a
Slide 26: NOO CRE Portfolio Diversified Across Property Type & County
NOO CRE Portfolio Diversified Across Property Type & County As of 9/30/26 - No material changes from 2Q'26 Retail 3Q'26 Warehouse & Industrial 3Q'26 Multifamily 3Q'26 All Other San Francisco 9% Other Bay Area 7% 4% Alameda All Other 9% Sonoma 8% 25% Sonoma Other Bay Area Marin 16% 16% Alameda 16% 23
Slide 27: Owner-Occupied CRE Portfolio
Owner-Occupied CRE Portfolio As of 9/30/26 - No material changes from 2Q'26 OO CRE by Type 3Q'26 OO CRE by County 3Q'26 OO CRE Office Portfolio by County 3Q'26 All Other Auto Dealer 1% 1-4 Residential Other Bay Area 5% Mixed Use Gas/Auto 3% San Francisco 9% Alameda 3% 7% Church Other 5% Alameda 6% H
Slide 28: Construction Portfolio Concentrations
Construction Portfolio Concentrations As of 9/30/26 Construction by Type 3Q'26 Construction by County 3Q'26 Sonoma 2% Yolo Land 8% 8% Alameda Santa Clara 29% 12% Apartments 29% $57.9M $57.9M San Francisco 1-4 Residential 14% 62% Napa Marin Average Project Balance: $4.8M 9% 25% Largest Project: $17.0
Slide 29: Appendix
Th. Bank of Marin Bancorp Appendix
Slide 30: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (Excluding Loss on Sale of Securities) (in thousands; unaudited) Three months ended Nine months ended Pre-tax, pre-provision net income September 30, 2026 June 30, 2026 September 30, 2026 September 30, 2025 Income before provision for (benefit fr
Slide 31: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures (Excluding Loss on Sale of Securities) (in thousands, except per share amounts; unaudited) Three months ended Nine months ended September 30, September 30, Net income 2026 June 30, 2026 2025 September 30, 2026 September 30, 2025 Net income (GAAP)
Slide 32: Contact Us
Contact Us Tim Myers Dave Bonaccorso President and Chief Executive Officer EVP, Chief Financial Officer (415) 763-4970 (415) 884-4758 [email protected] [email protected] Media Requests: Yahaira Garcia-Perea Marketing & Corporate Communications Manager (916) 231-6703 yahairagarcia
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