NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Bank of Marin Bancorp (BMRC) on Monday reported second-quarter net income of $9.2 million, after reporting a loss in the same period a year earlier.
The bank, based in Novato, California, said it had earnings of 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The bank holding company posted revenue of $45.5 million in the period. Its revenue net of interest expense was $34.1 million, which met Street forecasts.
Bank of Marin shares have increased 11% since the beginning of the year. The stock has risen 21% in the last 12 months.
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