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FOR IMMEDIATE RELEASE ● Bank of Marin Bancorp ● NOVATO , CA , July 19 , 2021 - Bank of Marin Bancorp , " Bancorp " ( Nasdaq : BMRC ) , parent company of Bank of Marin , " Bank , " announced earnings of $ 9.3 million in the second quarter of 2021 , compared to $ 8.9 million in the first quarter of 2021 and $ 7.4 million in the second quarter of 2020. Diluted earnings per share were $ 0.71 in the second quarter , $ 0.66 in the prior quarter , and $ 0.55 in the same quarter last year . Earnings for the first six months of 2021 totaled $ 18.2 million compared to $ 14.6 million in the same period last year . Diluted earnings per share were $ 1.37 and $ 1.07 in the first six months of 2021 and 2020 , respectively . ● EXHIBIT 99.1 " During the second quarter , we generated strong results for our shareholders , growing both net interest income and non - interest revenue . In addition , we managed expenses closely and maintained exceptional credit quality , ” said Russell A. Colombo , Chief Executive Officer . " Importantly , our acquisition of American River Bankshares is on track to close in the third quarter . This strategic acquisition will give us a well - established foothold in the growing Sacramento region and expand our Northern California footprint . " Bancorp provided the following highlights from the second quarter of 2021 : Loan balances were $ 2.003 billion at June 30 , 2021 , compared to $ 2.122 billion at March 31 , 2021 and $ 2.110 billion at June 30 , 2020. Small Business Administration ( " SBA " ) Paycheck Protection Program ( " PPP " ) loans outstanding were $ 248.3 million at June 30 , 2021 , versus $ 365.0 million and $ 298.9 million at March 31 , 2021 and June 30 , 2020 , respectively . As of June 30 , 2021 , $ 189.3 million of our PPP loans had been forgiven and paid off by the SBA . ● MEDIA CONTACT : Beth Drummey Marketing & Corporate Communications Manager 415-763-4529 | bethdrummey@bankofmarin.com BANK OF MARIN BANCORP REPORTS SECOND QUARTER EARNINGS OF $ 9.3 MILLION STRONG CAPITAL POSITION LEADS TO $ 0.24 QUARTERLY DIVIDEND AND NEW $ 25.0 MILLION SHARE REPURCHASE PROGRAM Credit quality remains strong , with non - accrual loans representing 0.46 % of total loans as of June 30 , 2021 , compared to 0.43 % at March 31 , 2021 , and 0.08 % at June 30 , 2020. Reversals of $ 920 thousand to the allowance for credit losses on loans and $ 612 thousand to the allowance for credit losses on unfunded loan commitments in the second quarter of 2021 were driven primarily by an improvement in economic forecasts . Total deposits grew $ 27.4 million to $ 2.684 billion at June 30 , 2021 from $ 2.656 billion at March 31 , 2021. The increase in the second quarter of 2021 was primarily driven by our customers depositing PPP funds into their accounts and new account openings . Non - interest bearing deposits were 54 % of total deposits as of June 30 , 2021 and March 31 , 2021 , versus 52 % at the end of the second quarter a year ago . Cost of average deposits were 0.07 % in the second quarter and first quarter of 2021 , compared to 0.09 % in the second quarter of 2020 . Return on average assets ( " ROA " ) and return on average equity ( " ROE " ) were 1.20 % and 10.72 % , respectively , for the quarter ended June 30 , 2021. ROA and ROE were 1.21 % and 10.22 % in the prior quarter and 1.01 % and 8.52 % , respectively , in the second quarter a year ago . All capital ratios were above well - capitalized regulatory requirements . The total risk - based capital ratio for Bancorp was 15.5 % at June 30 , 2021 , compared to 15.7 % at March 31 , 2021 , and 15.8 % at June 30 , 2020. Bancorp's tangible common equity to tangible assets was 10.4 % at June 30 , 2021 , compared to 10.5 % at March 31 , 2021 and 10.1 % at June 30 , 2020 ( refer to footnote 5 on page 6 for a definition of this non - GAAP financial measure ) . The Bank's total risk based capital ratio was 15.3 % at June 30 , 2021 , compared to 14.8 % at March 31 , 2021 , and 15.0 % at June 30 , 2020 . 1