Bank of Marin Bancorp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Bank of Marin Bancorp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Interest expense	2.27	1.74	3.54	4.76	2.98	3.4	2.55	36.7
Pre-tax income	36.5	28.8	43.4	45.9	40.6	44.9	63.5	26	-13.8	-52.5
Income tax	13.3	12.9	10.8	11.7	10.3	11.7	16.9	6.14	-5.43	-16.8
Net income	23.1	16	32.6	34.2	30.2	33.2	46.6	19.9	-8.41	-35.7
EPS, basic	1.90	1.29	2.35	2.51	2.24	2.32	2.93	1.24	-0.52	-2.24
EPS, diluted	1.88	1.27	2.33	2.48	2.22	2.30	2.92	1.24	-0.52	-2.24
Shares, basic (weighted)	12.2	12.4	13.9	13.6	13.5	14.3	15.9	16	16	15.9
Shares, diluted (weighted)	12.3	12.5	14	13.8	13.6	14.4	16	16	16	15.9
Dividend per share	0.51	0.56	0.64	0.80	0.92	0.94	0.98	1.00	1.00	1.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3.5	204	34.2	183	200	348	45.4	30.5	137	225
Property, plant and equipment	8.52	8.61	7.38	6.07	4.92	7.56	8.13	7.79	6.83	8.06
Lease right-of-use assets				11	25.6	23.6	24.8	20.3	19	22.5
Goodwill	6.44	30.1	30.1	30.1	30.1	72.8	72.8	72.8	72.8	72.8
Total assets	2,023	2,468	2,521	2,707	2,912	4,314	4,147	3,804	3,701	3,905
Total liabilities	1,793	2,171	2,204	2,370	2,554	3,864	3,735	3,365	3,266	3,510
Total debt						0.42	112	26.3	0.15	44.6
Retained earnings	146	156	180	203	220	240	271	275	250	198
Other comprehensive income	-3.29	-2.49	-4.1	4.5	12.6	-2.02	-73.7	-53	-30.1	-18.4
Shareholders' equity	231	297	316	337	358	450	412	439	435	395
Total equity	231	297	316	337	358	450	412	439	435	395
Total liabilities and equity	2,023	2,468	2,521	2,707	2,912	4,314	4,147	3,804	3,701	3,905
Shares outstanding	12.3	13.8	13.8	13.6	13.5	15.9	16	16.2	16.1	16.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	23.1	16	32.6	34.2	30.2	33.2	46.6	19.9	-8.41	-35.7
Depreciation and amortization	1.82	1.94	2.14	2.23	2.1	1.7	1.8	2.1	1.5	1.3
Stock-based compensation	0.99	1.27	1.66	1.51	1.2	0.97	0.96	0.52	0.63	0.82
Deferred income tax	-0.16	4.86	-1.22	-1.37	-1.66	0.22	-0.43	0.08	-5.15	-17.2
Cash from operations	25.4	26.9	42.1	40.9	40.8	45.3	55.3	35.7	28.4	39.1
Capital expenditures	-1.04	-1.43	-0.91	-0.54	-0.98	-1.04	-2.27	-1.75	-0.52	-1.82
Purchases of investments		-119	-236	-111	-97.5	-620	-243	0	-164	-1,069
Sales and maturities of investments	130	48.6	57.7	86	115	110	130	59.3	31.2	162
Cash from investing	24.3	7.81	-225	-20.8	-173	-341	-218	335	195	-172
Stock issued	1.39	0.09	0.54	0.67	1.3	0.46	0.82	0.23	0	0
Share buybacks			-6.87	-15.1	-6.9	-40.8	-1.25	0	-4.25	-3.29
Dividends paid	-6.22	-6.9	-8.86	-11	-12.5	-13.1	-15.7	-16.1	-16.2	-16.1
Cash from financing	-27.3	120	13.9	129	150	443	-139	-385	-117	221
Net change in cash	22.5	155	-169	149	16.9	147	-302	-15	107	88
Free cash flow	24.4	25.5	41.2	40.4	39.9	44.2	53	33.9	27.8	37.3
Interest paid	2.13	1.54	2.6	4.66	2.95	2.11	2.56	34	46.4	43.1
Income taxes paid	13.4	9.76	8.38	12.7	13.1	12.4	13.7	8.43	2.25	0.43

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $27.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-3.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.4%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Operating cash flow growth, 1y	37.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-10.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-0.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	33.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-11.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-1.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	1.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-9.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.11x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.2%	Total debt / total assets.
Liabilities / assets	89.7%	Total liabilities / total assets.
Net debt	-$235.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$323.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Capex / operating cash flow	2.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.91	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$2.40	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.46	Cash from operations / diluted weighted shares.
Book value per share	$24.51	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.01	Tangible book value / shares outstanding.
Cash per share	$17.28	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	42.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	2.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$452.0M	Share price x shares outstanding.
Enterprise value	$216.9M	Market cap + total debt - cash - short-term investments.
P/B	1.14x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.40x	Market cap / tangible book value, when positive.
P/FCF	11.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.5x	Market cap / cash from operations, when positive.
EV/FCF	5.66x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.5%	Free cash flow / market cap.
Earnings yield	-3.2%	Net income / market cap (the inverse of P/E).
Dividend yield	3.6%	Dividends paid over the period / market cap.
Shareholder yield	3.8%	(Dividends paid + share buybacks) / market cap.

Was Bank of Marin Bancorp profitable in fiscal 2025?

No. It reported a net loss of $35.7M.

How much free cash flow did Bank of Marin Bancorp generate in fiscal 2025?

Cash from operations of $39.1M minus capital expenditures of $1.8M left free cash flow of $37.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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