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Bank of Marin Bancorp reports record earnings of $7 million

Staff Writer | October 24, 2016
Bank of Marin Bancorp, parent company of Bank of Marin, announced quarterly earnings of $7.0 million in the third quarter of 2016.
Bank of Marin Bancorp
Bank of Marin Bancorp   Diluted earnings per share were $1.14
This compares to $4.8 million in both the second quarter of 2016 and the third quarter of 2015.

Diluted earnings per share of $1.14 in the third quarter increased $0.35 from $0.79 in both the prior quarter and the same quarter a year ago, due to the recovery of a problem credit and accelerated accretion of an acquired loan discount upon early payoff.

Year-to-date earnings of $17.4 million grew 29.1% from $13.5 million for the same period a year ago. Diluted earnings per share were $2.86 in the first nine months of 2016, an increase from $2.23 for the same period in 2015.