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Condensed Bank of Marin Bancorp Parent Only Financial Statements
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Bank of Marin Bancorp Parent Only Financial Statements
Condensed Bank of Marin Bancorp Parent Only Financial Statements

Presented below is financial information for Bank of Marin Bancorp, parent holding company only.
CONDENSED UNCONSOLIDATED STATEMENTS OF CONDITION
December 31, 2017 and 2016
 
 
 
(in thousands)
2017
2016
Assets
 
 
   Cash and due from Bank of Marin
$
3,246

$
3,568

   Investment in bank subsidiary
299,486

232,431

   Other assets
586

670

     Total assets
$
303,318

$
236,669

 
 
 
Liabilities and Stockholders' Equity
 
 
   Subordinated debentures
$
5,739

$
5,586

   Accrued expenses payable
146

96

   Other liabilities
408

424

     Total liabilities
6,293

6,106

   Stockholders' equity
297,025

230,563

     Total liabilities and stockholders' equity
$
303,318

$
236,669



CONDENSED UNCONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2017, 2016 and 2015
 
 
 
 
(in thousands)
2017
2016
2015
Income
 
 
 
   Dividends from bank subsidiary
$
8,000

$
6,400

$
6,500

   Miscellaneous Income
8

7

6

     Total income
8,008

6,407

6,506

Expense
 
 
 
   Interest expense
439

435

420

   Non-interest expense
2,087

984

973

     Total expense
2,526

1,419

1,393

Income (loss) before income taxes and equity in undistributed net income of subsidiary
5,482

4,988

5,113

   Income tax benefit
876

594

583

Income (loss) before equity in undistributed net income of subsidiary
6,358

5,582

5,696

Earnings of bank subsidiary greater (less) than dividends received from bank subsidiary
9,618

17,552

12,745

     Net income
$
15,976

$
23,134

$
18,441



CONDENSED UNCONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2017, 2016 and 2015
 
 
 
 
(in thousands)
2017
2016
2015
Cash Flows from Operating Activities:
 
 
 
Net income
$
15,976

$
23,134

$
18,441

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
Earnings of bank subsidiary greater than dividends received from bank subsidiary
(9,618
)
(17,552
)
(12,745
)
Net change in operating assets and liabilities:
 
 
 
       Accretion of discount on subordinated debentures
153

191

210

Other assets
92

353

(298
)
Intercompany receivable
(40
)
171

(18
)
Other liabilities
51

(302
)
368

Noncash director compensation expense - common stock
20

—

—

Net cash provided by operating activities
6,634

5,995

5,958

Cash Flows from Investing Activities:
 
 
 
Capital contribution to subsidiary
(853
)
(1,285
)
(1,156
)
Net cash used in investing activities
(853
)
(1,285
)
(1,156
)
Cash Flows from Financing Activities:
 
 
 
Proceeds from stock options exercised and stock issued under employee and director stock purchase plans and ESOP
853

1,285

1,156

Payment of tax withholdings for stock options exercised
(60
)
—

—

Dividends paid on common stock
(6,896
)
(6,223
)
(5,390
)
Net cash used by financing activities
(6,103
)
(4,938
)
(4,234
)
Net (decrease) increase in cash and cash equivalents
(322
)
(228
)
568

Cash and cash equivalents at beginning of period
3,568

3,796

3,228

Cash and cash equivalents at end of period
$
3,246

$
3,568

$
3,796

Supplemental schedule of non-cash investing and financing activities:
 
 
 
Stock issued in payment of director fees
$
188

$
234

$
275