NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Bank of Marin Bancorp (BMRC) on Monday reported fourth-quarter earnings of $610,000.
The bank, based in Novato, California, said it had earnings of 4 cents per share. Earnings, adjusted for non-recurring costs, were 30 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The bank holding company posted revenue of $32.1 million in the period. Its revenue net of interest expense was $21 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $27.5 million.
For the year, the company reported profit of $19.9 million, or $1.24 per share. Revenue was reported as $107.8 million.
Bank of Marin shares have dropped 4.5% since the beginning of the year. The stock has fallen 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRC at https://www.zacks.com/ap/BMRC