U.S. Markets closed

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