NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Bank of Marin Bancorp (BMRC) on Monday reported fourth-quarter profit of $6 million.
The Novato, California-based bank said it had earnings of 38 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The bank holding company posted revenue of $39.2 million in the period. Its revenue net of interest expense was $28 million, which fell short of Street forecasts.
For the year, the company reported a loss of $8.4 million, or 52 cents per share, swinging to a loss in the period. Revenue was reported as $105.8 million.
Bank of Marin shares have risen nearly 1% since the beginning of the year. The stock has climbed 15% in the last 12 months.
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