Bank of Marin Bancorp reports record earnings of $7 millionStaff 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 Diluted earnings per share were $1.14
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. ■