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Exhibit 99.1 Bank of Marin Bancorp FOR IMMEDIATE RELEASE MEDIA CONTACT : Beth Drummey Marketing & Corporate Communications Manager 415-763-4529 | bethdrummey@bankofmarin.com BANK OF MARIN BANCORP REPORTS FIRST QUARTER EARNINGS OF $ 8.9 MILLION ANNOUNCES $ 0.23 DIVIDEND NOVATO , CA , April 19 , 2021 - Bank of Marin Bancorp , " Bancorp " ( Nasdaq : BMRC ) , parent company of Bank of Marin , " Bank , " announced earnings of $ 8.9 million in the first quarter of 2021 , compared to $ 8.1 million in the fourth quarter of 2020 and $ 7.2 million in the first quarter of 2020. Diluted earnings per share were $ 0.66 in the first quarter , $ 0.60 in the prior quarter , and $ 0.53 in the same quarter last year . " Bank of Marin delivered steady , reliable results throughout 2020 , reflecting our sound underwriting and commitment to relationship banking , " said Russell A. Colombo , President and Chief Executive Officer . “ Our first quarter results in 2021 reinforced that consistency . Our credit quality is strong , and we are poised to grow as the economy reopens and our markets gain momentum . " First quarter 2021 earnings included a $ 2.9 million reversal of the allowance for credit losses on loans and $ 590 thousand reversal of allowance for credit losses on unfunded loan commitments . Additionally , the early redemption of our last subordinated debenture generated $ 1.3 million in accelerated discount accretion in interest expense . Bancorp provided the following highlights from the first quarter of 2021 : • . Loan balances of $ 2.122 billion at March 31 , 2021 compared to $ 2.089 billion at December 31 , 2020 and $ 1.844 billion at March 31 , 2020. Small Business Administration ( " SBA " ) Paycheck Protection Program ( " PPP " ) loans contributed to the increase and represented $ 365.0 million outstanding at March 31 , 2021 versus $ 291.6 million at December 31 , 2020. There were no PPP loans in the comparative year ago period . As of March 31 , 2021 , $ 55.9 million of our PPP loans had been forgiven and paid off by the SBA . Credit quality remains strong , with non - accrual loans representing 0.43 % of total loans as of March 31 , 2021 , compared to 0.44 % at December 31 , 2020 , and 0.09 % at March 31 , 2020. Reversals of $ 2.9 million to the allowance for credit losses on loans and $ 590 thousand to the allowance for credit losses on unfunded loan commitments were driven primarily by an improvement in economic forecasts and a $ 40.2 million decrease in non - PPP loan balances . Total deposits grew $ 152.0 million from $ 2.504 billion at December 31 , 2020 to $ 2.656 billion at March 31 , 2021. The increase was primarily due to increases in PPP borrower - related accounts and normal fluctuations in some of our large business accounts . Non - interest bearing deposits represented 54 % of total deposits as of the end of the first quarter of 2021 and fourth quarter of 2020 , versus 49 % at the end of the first quarter a year ago . First quarter 2021 cost of average deposits was consistent with the prior quarter at 0.07 % , compared to 0.21 % in the first quarter of 2020 . Return on average assets ( " ROA " ) and return on average equity ( " ROE " ) were 1.21 % and 10.22 % , respectively , for the quarter ended March 31 , 2021. These reflect meaningful increases as ROA was 1.09 % in both the prior and year - ago quarters . ROE was 8.98 % and 8.54 % , respectively , for the fourth quarter and first quarter of 2020 . Our strong capital and liquidity position afforded us the opportunity to eliminate a high cost funding source . On March 15 , 2021 we redeemed a $ 2.8 million subordinated debenture , which carried an effective rate of approximately 5.7 % . While the redemption decreased our net interest margin by 18 basis points in the first quarter of 2021 , it will serve to improve net interest margin in the future . 1