Bank of Marin Bancorp reported a significant financial downturn for the fiscal year ending December 31, 2025, with a net loss of $35.7 million, compared to a loss of $8.4 million in 2024. This resulted in a diluted loss per share of $2.24, a substantial decline from the previous year's loss of $0.52 per share. The company's total assets increased to $3.9 billion, up from $3.7 billion in 2024, driven by a rise in loans and deposits. Total loans reached $2.1 billion, reflecting a modest increase of $37.6 million, while total deposits rose by $195.5 million to $3.4 billion.
The financial results were notably impacted by strategic decisions, including a balance sheet repositioning that involved the sale of available-for-sale securities at a significant loss. The company recorded a pre-tax loss of $88.2 million from these sales, which was a key factor in the overall net loss. Despite these challenges, the tax-equivalent net interest margin improved to 2.94%, up from 2.55% in 2024, attributed to higher yields on loans and investment securities, as well as lower deposit costs.
Operationally, Bank of Marin Bancorp added over 4,000 new accounts in 2025, with 51% of these being non-interest bearing accounts. The bank's focus on relationship banking contributed to a strong deposit base, with 62% of deposits held in business accounts. The allowance for credit losses on loans was $30.1 million, representing 1.42% of total loans, a slight decrease from 1.47% in the previous year. The bank's non-accrual loans also decreased to $26.9 million, or 1.27% of the loan portfolio, down from $33.9 million, indicating improved credit quality.
Looking ahead, the bank's management expressed optimism about future performance, citing a strong balance sheet and increased loan origination productivity. The company has initiated a remediation plan to address identified weaknesses in internal controls over financial reporting, which had previously led to restatements of financial statements for prior periods. The bank's capital ratios remain above regulatory requirements, and management does not anticipate the need for additional capital in 2026, relying instead on future earnings and stock-based compensation programs to support its financial position.
About Bank of Marin Bancorp
Bank of Marin Bancorp operates primarily through its subsidiary, Bank of Marin, providing community banking services across Northern California. It offers business and personal financial products including commercial and consumer loans, deposit accounts, treasury management, and wealth management services. Focused on small to medium-sized businesses, nonprofits, and consumers, the bank emphasizes relationship banking, local decision-making, and community commitment to differentiate itself in a competitive market.
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