Bank of Marin: Q2 Earnings Snapshot
NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Bank of Marin Bancorp (BMRC) on Monday reported second-quarter profit of $4.6 million.
The bank, based in Novato, California, said it had earnings of 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The bank holding company posted revenue of $37.4 million in the period. Its revenue net of interest expense was $26.9 million, also missing Street forecasts. Three analysts surveyed by Zacks expected $29.1 million.
Bank of Marin shares have declined 40% since the beginning of the year. The stock has decreased 39% in the last 12 months.
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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
