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Condensed Bank of Marin Bancorp Parent Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021 and 2020
(in thousands) | 2021 | 2020
Assets |  |
Cash and due from Bank of Marin | $ | 6,624 |  | $ | 5,329 |
Investment in bank subsidiary | 444,191 |  | 356,172 |
Other assets | 243 |  | 336 |
Total assets | $ | 451,058 |  | $ | 361,837 |
Liabilities and Stockholders' Equity |  |
Subordinated debenture | $ | — |  | $ | 2,777 |
Accrued expenses payable | 318 |  | 74 |
Other liabilities | 372 |  | 733 |
Total liabilities | 690 |  | 3,584 |
Stockholders' equity | 450,368 |  | 358,253 |
Total liabilities and stockholders' equity | $ | 451,058 |  | $ | 361,837 |
Schedule of Condensed Income Statement |
CONDENSED UNCONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2021, 2020 and 2019
(in thousands) | 2021 | 2020 | 2019
Income |  |  |
Dividends from bank subsidiary | $ | 64,000 |  | $ | 16,200 |  | $ | 17,600 |
Miscellaneous Income | — |  | 3 |  | 5 |
Total income | 64,000 |  | 16,203 |  | 17,605 |
Expense |  |  |
Interest expense | 1,361 |  | 158 |  | 229 |
Non-interest expense | 4,025 |  | 1,325 |  | 1,399 |
Total expense | 5,386 |  | 1,483 |  | 1,628 |
Income before income taxes and equity in undistributed net income of subsidiary | 58,614 |  | 14,720 |  | 15,977 |
Income tax benefit | 1,235 |  | 437 |  | 480 |
Income before equity in undistributed net income of subsidiary | 59,849 |  | 15,157 |  | 16,457 |
Earnings of bank subsidiary (less) greater than dividends received from bank subsidiary | (26,621) |  | 15,085 |  | 17,784 |
Net income | $ | 33,228 |  | $ | 30,242 |  | $ | 34,241 |
Schedule of Condensed Cash Flow Statement |
CONDENSED UNCONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2021, 2020 and 2019
(in thousands) | 2021 | 2020 | 2019
Cash Flows from Operating Activities: |  |  |
Net income | $ | 33,228 |  | $ | 30,242 |  | $ | 34,241 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |
Earnings of bank subsidiary less (greater) than dividends received from bank subsidiary | 26,621 |  | (15,085) |  | (17,784) |
Accretion of discount on subordinated debentures | 1,347 |  | 69 |  | 68 |
Noncash director compensation expense | 35 |  | 31 |  | 30 |
Net changes in: |  |  |
Other assets | (1,655) |  | (4) |  | — |
Other liabilities | (88) |  | 59 |  | 80 |
Net cash provided by operating activities | 59,488 |  | 15,312 |  | 16,635 |
Cash Flows from Investing Activities: |  |  |
Capital contribution to bank subsidiary | (619) |  | (1,464) |  | (747) |
Net cash used in investing activities | (619) |  | (1,464) |  | (747) |
Cash Flows from Financing Activities: |  |  |
Proceeds from stock options exercised and stock issued under employee and director stock purchase plans | 587 |  | 1,419 |  | 747 |
Repayment of subordinated debenture including execution costs | (4,126) |  | — |  | — |
Payment of tax withholdings for vesting of restricted stock | (166) |  | (73) |  | (220) |
Dividends paid on common stock | (13,107) |  | (12,506) |  | (10,958) |
Stock repurchased, net of commissions | (40,762) |  | (6,898) |  | (15,062) |
Net cash used in financing activities | (57,574) |  | (18,058) |  | (25,493) |
Net increase (decrease) in cash and cash equivalents | 1,295 |  | (4,210) |  | (9,605) |
Cash and cash equivalents at beginning of year | 5,329 |  | 9,539 |  | 19,144 |
Cash and cash equivalents at end of year | $ | 6,624 |  | $ | 5,329 |  | $ | 9,539 |
Supplemental schedule of non-cash investing and financing activities: |  |  |
Stock issued in payment of director fees | $ | 217 |  | $ | 217 |  | $ | 231 |
Repurchase of stock not yet settled | $ | 373 |  | $ | 413 |  | $ | 103 |
Stock issued to ESOP | $ | 1,330 |  | $ | 1,289 |  | $ | 1,245 |

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