Bank of Marin Bancorp (NASDAQ: BMRC) is a California community banking company that operates through its sole subsidiary, Bank of Marin, providing commercial, not-for-profit, and personal banking services across Northern California. The bank earns revenue primarily through net interest income, the spread between interest earned on loans and investment securities and interest paid on deposits, with a reported net interest margin of 3.04% for FY2025. Bank of Marin was incorporated in August 1989, commenced operations in January 1990, and converted to a holding company structure in 2007. Headquartered in Novato, California, it serves nine counties including Marin, Napa, Alameda, Contra Costa, San Francisco, and Sonoma. As of December 31, 2025, total assets were $3.9 billion and total stockholders' equity was $394.7 million. Deposits were approximately 62% from businesses and 38% from consumers as of December 31, 2025. The bank competes in a highly competitive California banking market against commercial banks, savings institutions, credit unions, and non-bank financial firms.

Revenue model

Net interest income from loans and investment securities, funded primarily by customer deposits. Cost of deposits was 1.26% as reported for FY2025. Non-interest expense was $85.5 million as reported for FY2025.

Products and services

Commercial banking, personal banking, and not-for-profit banking services. Small business loans, small farm loans, community development loans, and affordable housing project investments under CRA obligations. Deposit accounts serving business and consumer customers.

Customers and end markets

Business customers (62% of deposits as of December 31, 2025), consumer customers (38% of deposits as of December 31, 2025), and not-for-profit organizations. Primary customer base concentrated in Marin, Napa, Alameda, and southern Sonoma counties.

Value-chain role

Balance sheet lender and deposit-gatherer. Accepts deposits from businesses and consumers and deploys capital into loans and investment securities. Outsources core processing to Fidelity Information Services (FIS) and wire processing to Finastra.

Geographic exposure

Northern California, primarily Alameda, Amador, Contra Costa, Marin, Napa, Placer, Sacramento, San Francisco, and Sonoma counties. Headquarters in Novato, California.

Source: SEC 10-K, filed 2026-03-13

Industry: State Commercial Banks Peers: Business First Bancshares Inc Equity Bancshares Inc Five Star Bancorp Mercantile Bank Corp Metrocity Bankshares Inc PNC Financial Services Group Inc South Plains Financial Inc