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Condensed Bank of Marin Bancorp Parent Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 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 |
Schedule of Condensed Income Statement |
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 |
Schedule of Condensed Cash Flow Statement |
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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