Bank of Marin Bancorp (NASDAQ:BMRC) came out with its second quarter earnings results on Monday 20th July 2020 before market open.
The financial services provider, reported $ 0.55 income per share for the quarter, beat the consensus estimate of $ 0.41 income per share by $ 0.14 or 34.15 percent.
The quarterly earnings decreased 8.33 percent compared with the same quarter last year.
The firm had revenue of $ 24.38 million for the quarter, compared to the consensus estimate of $ 23.97 million. The revenues outshined analysts estimates by $ 0.41 million or 1.71 percent.
The financial report showed revenues escalated 2.48 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Russell A. Colombo, President and Chief Executive Officer, commented, Though the pandemic created sudden and substantial financial hardship for many, our sound underwriting and strong capital and liquidity positions enabled us to efficiently help businesses access resources like the Paycheck Protection Program. Our more than 30-year history of consistently strong performance is proof of our ability to navigate through economic downturns and emerge ready to grow along with our customers. We will continue to work together now to ensure they bridge the gap to recovery.
