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Bank of Marin: 3Q Earnings Snapshot

NOVATO, Calif. (AP) _ Bank of Marin Bancorp (BMRC) on Monday reported third-quarter net income of $8.7 million.

The bank, based in Novato, California, said it had earnings of $1.23 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The bank holding company posted revenue of $26.4 million in the period. Its revenue net of interest expense was $25.8 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $25.3 million.

Bank of Marin shares have increased 16 percent since the beginning of the year. The stock has climbed 17 percent in the last 12 months.


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