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Condensed Bank of Marin Bancorp Parent Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheet | Presented below is financial information for Bank of Marin Bancorp, parent holding company only.
CONDENSED UNCONSOLIDATED STATEMENTS OF CONDITION
December 31, 2020 and 2019
(in thousands) | 2020 | 2019
Assets |  |
Cash and due from Bank of Marin | $ | 5,329 |  | $ | 9,539 |
Investment in bank subsidiary | 356,172 |  | 330,053 |
Other assets | 336 |  | 332 |
Total assets | $ | 361,837 |  | $ | 339,924 |
Liabilities and Stockholders' Equity |  |
Subordinated debenture | $ | 2,777 |  | $ | 2,708 |
Accrued expenses payable | 74 |  | 71 |
Other liabilities | 733 |  | 357 |
Total liabilities | 3,584 |  | 3,136 |
Stockholders' equity | 358,253 |  | 336,788 |
Total liabilities and stockholders' equity | $ | 361,837 |  | $ | 339,924 |
Schedule of Condensed Income Statement |
CONDENSED UNCONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2020, 2019 and 2018
(in thousands) | 2020 | 2019 | 2018
Income |  |  |
Dividends from bank subsidiary | $ | 16,200 |  | $ | 17,600 |  | $ | 36,700 |
Miscellaneous Income | 3 |  | 5 |  | 9 |
Total income | 16,203 |  | 17,605 |  | 36,709 |
Expense |  |  |
Interest expense | 158 |  | 229 |  | 1,339 |
Non-interest expense | 1,325 |  | 1,399 |  | 1,275 |
Total expense | 1,483 |  | 1,628 |  | 2,614 |
Income before income taxes and equity in undistributed net income of subsidiary | 14,720 |  | 15,977 |  | 34,095 |
Income tax benefit | 437 |  | 480 |  | 770 |
Income before equity in undistributed net income of subsidiary | 15,157 |  | 16,457 |  | 34,865 |
Earnings of bank subsidiary greater (less) than dividends received from bank subsidiary | 15,085 |  | 17,784 |  | (2,243) |
Net income | $ | 30,242 |  | $ | 34,241 |  | $ | 32,622 |
Schedule of Condensed Cash Flow Statement |
CONDENSED UNCONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2020, 2019 and 2018
(in thousands) | 2020 | 2019 | 2018
Cash Flows from Operating Activities: |  |  |
Net income | $ | 30,242 |  | $ | 34,241 |  | $ | 32,622 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |
Earnings of bank subsidiary (greater) less than dividends received from bank subsidiary | (15,085) |  | (17,784) |  | 2,243 |
Accretion of discount on subordinated debentures | 69 |  | 68 |  | 1,025 |
Noncash director compensation expense | 31 |  | 30 |  | 23 |
Net changes in: |  |  |
Other assets | (4) |  | — |  | 36 |
Other liabilities | 59 |  | 80 |  | (86) |
Net cash provided by operating activities | 15,312 |  | 16,635 |  | 35,863 |
Cash Flows from Investing Activities: |  |  |
Capital contribution to bank subsidiary | (1,464) |  | (747) |  | (667) |
Net cash used in investing activities | (1,464) |  | (747) |  | (667) |
Cash Flows from Financing Activities: |  |  |
Proceeds from stock options exercised and stock issued under employee and director stock purchase plans | 1,419 |  | 747 |  | 613 |
Repayment of subordinated debenture including execution costs | — |  | — |  | (4,137) |
Payment of tax withholdings for vesting of restricted stock | (73) |  | (220) |  | (45) |
Dividends paid on common stock | (12,506) |  | (10,958) |  | (8,860) |
Stock repurchased, net of commissions | (6,898) |  | (15,062) |  | (6,869) |
Net cash used in financing activities | (18,058) |  | (25,493) |  | (19,298) |
Net (decrease) increase in cash and cash equivalents | (4,210) |  | (9,605) |  | 15,898 |
Cash and cash equivalents at beginning of year | 9,539 |  | 19,144 |  | 3,246 |
Cash and cash equivalents at end of year | $ | 5,329 |  | $ | 9,539 |  | $ | 19,144 |
Supplemental schedule of non-cash investing and financing activities: |  |  |
Stock issued in payment of director fees | $ | 217 |  | $ | 231 |  | $ | 204 |
Repurchase of stock not yet settled | $ | 413 |  | $ | 103 |  | $ | 143 |
Stock issued to ESOP | $ | 1,289 |  | $ | 1,245 |  | $ | 1,173 |

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