Condensed Bank of Marin Bancorp Parent Only Financial Statements (Tables)
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12 Months Ended |
Dec. 31, 2014
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Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
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Schedule of Condensed Balance Sheet |
Presented below is financial information for Bank of Marin Bancorp, parent holding company only.
| | | | | | | | | CONDENSED UNCONSOLIDATED STATEMENTS OF CONDITION | at December 31, 2014 and 2013 | | | | | | At December 31, | (in thousands) | 2014 | | 2013 | | | | | Assets | | | | Cash and due from Bank of Marin | $ | 3,228 |
| | $ | 8,664 |
| Investment in bank subsidiary | 201,609 |
| | 177,028 |
| Other assets | 454 |
| | 366 |
| Total assets | $ | 205,291 |
| | $ | 186,058 |
| | | | | Liabilities and Stockholders' Equity | | | | Subordinated debentures | $ | 5,185 |
| | $ | 4,969 |
| Accrued expenses payable | 80 |
| | 202 |
| Total liabilities | 5,265 |
| | 5,171 |
| Stockholders' equity | 200,026 |
| | 180,887 |
| Total liabilities and stockholders' equity | $ | 205,291 |
| | $ | 186,058 |
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Schedule of Condensed Income Statement |
| | | | | | | | | | | | | CONDENSED UNCONSOLIDATED STATEMENTS OF INCOME | for the fiscal years ended December 31, 2014, 2013 and 2012 | | | | | | | | Years ended December 31, | (in thousands) | 2014 | | 2013 | | 2012 | | | | | | | Income | | | | | | Dividends from bank subsidiary | $ | — |
| | $ | 28,000 |
| | $ | 2,700 |
| Miscellaneous Income | 8 |
| | — |
| | — |
| Total income | 8 |
| | 28,000 |
| | 2,700 |
| | | | | | | Expense | | | | | | Interest expense | 421 |
| | 34 |
| | — |
| Non-interest expense | 851 |
| | 1,313 |
| | 716 |
| Total expense | 1,272 |
| | 1,347 |
| | 716 |
| | | | | | | (Loss) income before income taxes and equity in undistributed net income of subsidiary | (1,264 | ) | | 26,653 |
| | 1,984 |
| Income tax benefit | 532 |
| | 382 |
| | 301 |
| (Loss) income before equity in undistributed net income of subsidiary | (732 | ) | | 27,035 |
| | 2,285 |
| Earnings of bank subsidiary greater (less) than dividends received from bank subsidiary | 20,503 |
| | (12,765 | ) | | 15,532 |
| Net income | $ | 19,771 |
| | $ | 14,270 |
| | $ | 17,817 |
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Schedule of Condensed Cash Flow Statement |
| | | | | | | | | | | | | CONDENSED UNCONSOLIDATED STATEMENTS OF CASH FLOWS | for the fiscal years ended December 31, 2014, 2013 and 2012 | | | | | | | | Years ended December 31, | (in thousands) | 2014 | | 2013 | | 2012 | | | | | | | Cash Flows from Operating Activities: | | | | | | Net income | $ | 19,771 |
| | $ | 14,270 |
| | $ | 17,817 |
| Adjustments to reconcile net income to net cash (used in)provided by operating activities: | | | | | | Earnings of bank subsidiary (greater) less than dividends received from bank subsidiary | (20,503 | ) | | 12,765 |
| | (15,532 | ) | Net change in operating assets and liabilities | | | | | | Accretion of discount on subordinated debentures | 216 |
| | 19 |
| | — |
| Other assets | (88 | ) | | 74 |
| | (71 | ) | Other liabilities | (99 | ) | | 165 |
| | (6 | ) | Net cash (used in) provided by operating activities | (703 | ) | | 27,293 |
| | 2,208 |
| | | | | | | Cash Flows from Investing Activities: | | | | | | Capital contribution to subsidiary | (1,475 | ) | | (2,258 | ) | | (1,070 | ) | Cash consideration paid for acquisition, net of cash acquired | — |
| | (15,952 | ) | | — |
| Net cash used in investing activities | (1,475 | ) | | (18,210 | ) | | (1,070 | ) | | | | | | | Cash Flows from Financing Activities: | | | | | | Stock options exercised and stock purchases | 1,475 |
| | 2,258 |
| | 1,070 |
| Dividends paid on common stock | (4,733 | ) | | (3,970 | ) | | (3,751 | ) | Net cash used by financing activities | (3,258 | ) | | (1,712 | ) | | (2,681 | ) | | | | | | | Net (decrease) increase in cash and cash equivalents | (5,436 | ) | | 7,371 |
| | (1,543 | ) | | | | | | | Cash and cash equivalents at beginning of period | 8,664 |
| | 1,293 |
| | 2,836 |
| Cash and cash equivalents at end of period | $ | 3,228 |
| | $ | 8,664 |
| | $ | 1,293 |
| | | | | | | Supplemental schedule of non-cash investing and financing activities: | | | | | | Stock issued in payment of director fees | $ | 236 |
| | $ | 222 |
| | $ | 199 |
| Acquisition: | | | | | | Fair value of assets acquired | $ | — |
| | $ | 39,503 |
| | $ | — |
| Fair value of liabilities assumed | $ | — |
| | $ | 4,970 |
| | $ | — |
| Stock issued to NorCal Community Bancorp shareholders | $ | — |
| | $ | 18,514 |
| | $ | — |
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