- Credit quality remains solid with net charge-offs in the second quarter of 2012 totaling $187 thousand, down $930 thousand from the prior quarter and down $2.0 million from the same quarter a year ago.
- Deposits totaled $1.2 billion at June 30, 2012 and March 31, 2012 and totaled $1.1 billion at June 30, 2011. Non-interest bearing deposits totaled 32.5% of total deposits at June 30, 2012.
- In a conscious effort to deploy excess liquidity, Bancorp grew the investment portfolio by $36.6 million (primarily government-guaranteed mortgage-backed and collateralized mortgage obligation securities, as well as corporate bonds) in the second quarter of 2012.
- Total risk-based capital ratio for Bancorp grew to 13.9%, up from 13.6% at March 31, 2012 and 13.0% at June 30, 2011, and continues to be well above industry requirements for a well-capitalized institution.
- Loans in Napa increased $4.7 million, or 8.1%, in the second quarter of 2012, excluding $1.9 million in problem loan payoffs.
- Michaela Rodeno was appointed as Bancorp's new board member on July 2, 2012. Rodeno, former CEO of St. Supery Winery and former board member of Silicon Valley Bank, brings 40 years of business and wine industry knowledge to the board.
- On July 19, 2012, the Board of Directors declared a quarterly cash dividend of $0.18 per share, a $0.01 increase from the prior quarter. The cash dividend is payable to shareholders of record at the close of business on August 2, 2012 and will be payable on August 10, 2012.
Bank Of Marin Bancorp Reports Record Second Quarter Earnings Of $5.0 Million And Increases Quarterly Cash Dividend To Shareholders
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