Profile: Bank of Marin Bancorp (BMRC.OQ)
6 Dec 2013
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). As of December 31, 2011, the Company operated through 17 offices in San Francisco, Marin, Napa and Sonoma counties. The Company’s customer base is made up of business and personal banking relationships from the communities near the branch office locations. Its business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company offers a range of commercial and retail deposit and lending programs. Its loan products include commercial real estate loans, commercial and industrial loans and lines of credit, construction financing, consumer loans, and home equity lines of credit. Merchant card services are available for its customers in retail businesses. On February 18, 2011, the Company acquired certain assets of Charter Oak Bank. Effective April 29, 2011, it acquired St. Helena branch from Charter Oak Bank. Effective November 29, 2013, the Company announced that it has completed the merger of NorCal Community Bancorp, parent company of Bank of Alameda into the Company.
Through a third party vendor, the Company offers a Visa credit card product combined with a rewards program to its customers, as well as a Business Visa program for business and professional customers. The Company also offers cash management sweep to business clients through a third party vendor. The Company offers a variety of personal and business checking and savings accounts, and a number of time deposit alternatives, including time certificates of deposit, individual retirement accounts (IRAs), health savings accounts, and Certificate of Deposit Account Registry Service (CDARS). It also offers remote deposit capture, automated clearing house services (ACH), social security and pension checks, fraud prevention services, including identity theft insurance and image lockbox services. A valet deposit pick-up service is available to its professional and business clients. Automatic teller machines (ATM's) are available at each branch location.
The Company’s automated teller machine (ATM) network is linked to the PLUS, CIRRUS and NYCE networks. The Company also offers its depositors around-the-clock access to their accounts by telephone and through its Internet banking products available to personal and business account holders. The Company offers wealth management and trust services (WMTS) which include investment portfolio management, financial planning, trust administration, estate settlement and custody services, and advice of charitable giving. It also offers 401(k) plan services to small and medium businesses through a third party vendor. The Company offers branch-based private banking services. Its Private Banking includes deposit services and loans, as well as a range of banking services. The Company does not directly offer international banking services, but do make such services available to its customers through other financial institutions with whom it has correspondent banking relationships. The Company attracts deposit relationships from individuals, merchants, small to medium-sized businesses, not-for-profit organizations and professionals who live and/or work in the communities consisting of its market areas.
The Company’s investment securities portfolio at December 31, 2011 consisted primarily of the United States Government agency securities, including mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs) issued or guaranteed by Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), or Government National Mortgage Association (GNMA). Its portfolio also includes obligations of state and political subdivisions, corporate bonds, debentures issued by government-sponsored agencies such as FNMA and FHLMC, as well as privately issued collateralized mortgage obligations (CMOs) and Visa stock. As of December 31, 2011, the Company had $261.2 million in secured lines of credit with Federal Home Loan Bank (FHLB), $41.2 million with Federal Reserve Bank of San Francisco (FRBSF) and $77 million in unsecured lines with correspondent banks.
The Company competes with Wells Fargo Bank, Bank of America, Westamerica Bank, Bank of the West and Exchange Bank.
Bank of Marin Bancorp
SUITE 100, 504 Redwood Blvd
NOVATO CA 94947