Bank of Marin Posts Higher Q3 Profit on Lower Interest Expense, Shares Rise 2.2%

Bank of Marin Bancorp (BMRC) reported higher third-quarter net income on Monday, with shares trading up 2.21% at $27.71 on the Nasdaq. Net income rose to $9.93 million, or $0.62 per share, from $7.53 million, or $0.47 per share, a year earlier. Non-interest income increased to $3.67 million from $2.75 million. Total interest income climbed to $42.42 million from $39.07 million, while total interest expense declined to $11.02 million from $11.91 million.