Follows Strong Q1 and Record Earnings
NOVATO, Calif.--(BUSINESS WIRE)--
Bank of Marin Bancorp (“the Bank”) (NASDAQ:BMRC) has announced that its
Board of Directors has declared a quarterly cash dividend of $0.16 per
share. The cash dividend is payable to shareholders of record at the
close of business on May 5, 2011 and will be payable on May 13, 2011.
The Bank has paid a dividend for the past 24 quarters.
"As a result of our strong financial performance, Bank of Marin is
pleased to pay a dividend to our shareholders again this quarter,” said
Russell Colombo, President and Chief Executive Officer. “We are seeing
immediate increased shareholder value with the acquisition of Charter
Oak Bank, which aligns very well with our long term strategic plans.”
About Bank of Marin Bancorp:Bank of Marin Bancorp's
assets currently exceed $1.3 billion. Bank of Marin, as the sole
subsidiary of Bank of Marin Bancorp, is the largest community bank in
Marin County with 17 offices in Marin, San Francisco, Napa and Sonoma
counties. The Bank's Administrative offices are located in Novato,
California. Bank of Marin offers business and personal banking, private
banking and wealth management services, with a strong focus on
supporting the local community. Bank of Marin Bancorp is included in the
Russell 2000 Small-Cap Index, is recognized as a Top 200 Community Bank,
ranked number 42 in the U.S. by US Banker Magazine, and has received the
highest five star rating from Bauer Financial for more than ten years (www.bauerfinancial.com).
Celebrating its 21st anniversary in 2011, Bank of Marin has been
recognized as one of the "Best Places to Work in the Bay Area" and one
of the "Top Corporate Philanthropists" by the San Francisco Business
Times.
Forward Looking Statements
This release may contain certain forward-looking statements that are
based on management's current expectations regarding economic,
legislative, and regulatory issues that may impact Bancorp's earnings in
future periods. Forward-looking statements can be identified by the fact
that they do not relate strictly to historical or current facts. They
often include the words "believe," "expect," "intend," "estimate" or
words of similar meaning, or future or conditional verbs such as "will,"
"would," "should," "could" or "may." Factors that could cause future
results to vary materially from current management expectations include,
but are not limited to, general economic conditions, the current
financial turmoil in the United States and abroad, changes in interest
rates, deposit flows, real estate values, and competition; changes in
accounting principles, policies or guidelines; changes in legislation or
regulation; and other economic, competitive, governmental, regulatory
and technological factors affecting Bancorp's operations, pricing,
products and services. These and other important factors are detailed in
various securities law filings made periodically by Bancorp or the Bank,
copies of which are available from Bancorp without charge. Bancorp
undertakes no obligation to release publicly the result of any revisions
to these forward-looking statements that may be made to reflect events
or circumstances after the date of this press release or to reflect the
occurrence of unanticipated events.
Source: Bank of Marin Bancorp
Contact:
For Bank of Marin Bancorp
Sandy Pfaff, 415-459-8800
sandy@pfaffpr.com