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Condensed Bank of Marin Bancorp Parent Only Financial Statements | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information 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, 2023 and 2022
(in thousands) | 2023 | 2022
Assets |  |
Cash and due from Bank of Marin | $ | 7,189 |  | $ | 4,493 |
Investment in bank subsidiary | 431,819 |  | 407,532 |
Other assets | 156 |  | 255 |
Total assets | $ | 439,164 |  | $ | 412,280 |
Liabilities and Stockholders' Equity |  |
Accrued expenses payable | $ | 102 |  | $ | 188 |
Other liabilities | — |  | — |
Total liabilities | 102 |  | 188 |
Stockholders' equity | 439,062 |  | 412,092 |
Total liabilities and stockholders' equity | $ | 439,164 |  | $ | 412,280 |
CONDENSED UNCONSOLIDATED STATEMENTS OF INCOME
Years ended December 31, 2023, 2022 and 2021
(in thousands) | 2023 | 2022 | 2021
Income |  |  |
Dividends from bank subsidiary | $ | 20,000 |  | $ | 16,200 |  | $ | 64,000 |
Miscellaneous income | — |  | — |  | — |
Total income | 20,000 |  | 16,200 |  | 64,000 |
Expense |  |  |
Interest expense | — |  | — |  | 1,361 |
Non-interest expense | 1,705 |  | 1,793 |  | 4,025 |
Total expense | 1,705 |  | 1,793 |  | 5,386 |
Income before income taxes and equity in undistributed net income of subsidiary | 18,295 |  | 14,407 |  | 58,614 |
Income tax benefit | 504 |  | 530 |  | 1,235 |
Income before equity in undistributed net income of subsidiary | 18,799 |  | 14,937 |  | 59,849 |
Earnings of bank subsidiary greater (less) than dividends received from bank subsidiary | 1,096 |  | 31,649 |  | (26,621) |
Net income | $ | 19,895 |  | $ | 46,586 |  | $ | 33,228 |
CONDENSED UNCONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2023, 2022 and 2021
(in thousands) | 2023 | 2022 | 2021
Cash Flows from Operating Activities: |  |  |
Net income | $ | 19,895 |  | $ | 46,586 |  | $ | 33,228 |
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 | (1,096) |  | (31,649) |  | 26,621 |
Accretion of discount on subordinated debenture | — |  | — |  | 1,347 |
Noncash director compensation expense | 60 |  | 36 |  | 35 |
Net changes in: |  |  |
Other assets | 99 |  | (12) |  | (1,655) |
Other liabilities | (86) |  | (129) |  | (88) |
Net cash provided by operating activities | 18,872 |  | 14,832 |  | 59,488 |
Cash Flows from Investing Activities: |  |  |
Capital contribution to bank subsidiary | (276) |  | (899) |  | (619) |
Net cash used in investing activities | (276) |  | (899) |  | (619) |
Cash Flows from Financing Activities: |  |  |
Repayment of subordinated debenture including execution costs | — |  | — |  | (4,126) |
Restricted stock surrendered for tax withholdings upon vesting | (70) |  | (40) |  | (166) |
Cash dividends paid on common stock | (16,106) |  | (15,673) |  | (13,107) |
Stock repurchased, including commissions | — |  | (1,250) |  | (40,762) |
Proceeds from stock options exercised and stock issued under employee and director stock purchase plans | 276 |  | 899 |  | 587 |
Net cash used in financing activities | (15,900) |  | (16,064) |  | (57,574) |
Net increase (decrease) in cash and cash equivalents | 2,696 |  | (2,131) |  | 1,295 |
Cash and cash equivalents at beginning of year | 4,493 |  | 6,624 |  | 5,329 |
Cash and cash equivalents at end of year | $ | 7,189 |  | $ | 4,493 |  | $ | 6,624 |
Supplemental schedule of noncash investing and financing activities: |  |  |
Stock issued in payment of director fees | $ | 398 |  | $ | 355 |  | $ | 217 |
Repurchase of stock not yet settled | $ | — |  | $ | — |  | $ | 373 |
Stock issued to ESOP | $ | 1,315 |  | $ | 1,233 |  | $ | 1,330 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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