- Loan growth in the fourth quarter of 2012 totaled $60.2 million, or 5.9%, primarily due to investor-owned commercial real estate loan originations in the Marin and San Francisco markets. Gross loans totaled $1.1 billion at December 31, 2012.
- Credit quality remains solid with non-performing loans at 1.64% of total loans, down from 1.90% in the prior quarter. Accruing loans past due 30 to 89 days decreased from $2.1 million in the prior quarter to $588 thousand at December 31, 2012.
- Deposits increased $50.3 million, or 4.2% in 2012 to $1.3 billion, reflecting a favorable shift in the deposit mix from higher-interest bearing time accounts to core deposits. Non-interest bearing deposits comprised 31.1% of total deposits at December 31, 2012.
- In a conscious effort to deploy excess liquidity, Bancorp grew the investment portfolio by $52.1 million in the fourth quarter of 2012 and $98.6 million in the year ended December 31, 2012 (primarily investment-grade municipal securities and corporate bonds).
- On January 17, 2013, the Board of Directors declared a quarterly cash dividend of $0.18 per share. The cash dividend is payable to shareholders of record at the close of business on February 1, 2013 and will be payable on February 15, 2013.
Bank Of Marin Bancorp Reports Record Annual Earnings
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