Earnings release
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EXHIBIT 99.1 FOR IMMEDIATE RELEASE MEDIA CONTACT:Yahaira Garcia-PereaMarketing & Corporate Communications Manager916-823-7214 | YahairaGarcia-Perea@bankofmarin.com BANK OF MARIN BANCORP REPORTS THIRD QUARTER FINANCIAL RESULTS DRIVEN BY LOAN GROWTH, NIM EXPANSION AND HIGHER EARNINGS NOVATO, CA, October 26, 2026 - Bank of Marin Bancorp, "Bancorp" (Nasdaq: BMRC), parent company of Bank of Marin, "Bank," completed another quarter of improved financial performance, reflecting continued enhancedprofitability and overall balance sheet strength. This performance was supported by progress across key financial and operating priorities: • Increased earnings per share, pre-tax pre-provision net income, and return on average tangible common equity• Expanded net interest margin from higher loan yields and reduced deposit costs, and grew both total deposits and noninterest-bearing deposits• Loan growth from organic originations supplemented by a loan pool purchase• Core non-interest income growth• Prudent expense management BMRC reports net income of $9.9 million for the third quarter of 2026. This compares to net income of $9.2 million for the second quarter of 2026 and net income of $7.5 million for the third quarter of 2025. Diluted earnings per sharewas $0.62 for the third quarter, compared to $0.58 for the prior quarter and $0.47 for the third quarter of the prior year. Continued net interest margin expansion largely drove these increases, contributing to a 32% year-over-yearincrease in quarterly diluted earnings per share. "Active management of deposit costs, growth in fee income, and expense discipline drove a 17% increase in pre-tax pre-provision net income on a sequential quarter basis," said President & CEO Tim Myers. "Organic originationsdrove loan growth during the quarter which was supplemented by a California residential loan pool purchase that utilized excess liquidity, diversified our earning assets, and is expected to provide attractive risk-adjusted returns." Selected Financial ResultsComparable (non-GAAP) Excluding Loss on Sale of SecuritiesThree months ended Nine months ended (in thousands, except per share amounts; unaudited) September 30, 2026 June 30, 2026 % Change September 30, 2025 % Change September 30, 2026 September 30, 2025 % ChangePre-tax, pre-provision net incomePre-tax, pre-provision net income (GAAP) $ 14,499 $ 12,353 17.4 %$ 9,610 50.9 %$ 38,449 $ 4,967 674.1 %Comparable pre-tax, pre-provision net income (non-GAAP) 14,499 12,353 17.4 % 9,610 50.9 % 38,449 23,703 62.2 %Net incomeNet income (GAAP) 9,934 9,246 7.4 % 7,526 32.0 % 27,690 3,866 616.2 %Comparable net income (non-GAAP) 9,934 9,246 7.4 % 7,526 32.0 % 27,690 17,064 62.3 %Diluted earnings per shareWeighted average diluted sharesDiluted earnings per share (GAAP) $ 0.62 $ 0.58 6.9 %$ 0.47 31.9 %$ 1.73 $ 0.24 620.8 %Comparable diluted earnings per share (non-GAAP) $ 0.62 $ 0.58 6.9 %$ 0.47 31.9 %$ 1.73 $ 1.07 61.7 %See complete Reconciliation of GAAP and Non-GAAP Financial Measures belowRelated non-GAAP tax benefit calculated using blended statutory rate of 29.5636% 1
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Concurrent with this release, Bancorp issued presentation slides providing supplemental information, some of which will be discussed during the third quarter 2026 earnings call. The earnings release and presentation slides areintended to be reviewed together and can be found online on Bank of Marin’s website at www.bankofmarin.com under “Investor Relations.” Additional highlights for the third quarter of 2026 included the following: • The third quarter tax-equivalent net interest margin improved 10 basis points over the preceding quarter to 3.48% from 3.38% due largely to improved average loan yields of 11 basis points. • Return on average assets ("ROA"), return on average equity ("ROE"), return on average tangible common equity ("ROTCE") and the efficiency ratio improved on a GAAP basis from the prior quarter, as shown below. All ratiosbenefited from increased revenue and reduced non-interest expense in the third quarter. Non-GAAP ratios for the prior year exclude the loss on security sales in that period, all other factors unchanged, and with adjustmentsmade based on our blended statutory tax rate of 29.56%. See Reconciliation of GAAP and Non-GAAP Financial Measures below. Operating Results Comparable (non-GAAP) Excluding Loss on Sale of SecuritiesThree months ended Nine months ended (in thousands, except per share amounts; unaudited) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025Return on average assetsAverage assets $ 3,766,498 $ 3,850,140 $ 3,828,876 $ 3,867,814 $ 3,765,281 Return on average assets (GAAP) 1.05 % 0.96 % 0.78 % 0.96 % 0.14 %Comparable return on average assets (non-GAAP) 1.05 % 0.96 % 0.78 % 0.96 % 0.61 %Return on average equityAverage stockholders' equity $ 395,812 $ 395,328 $ 439,950 $ 396,378 $ 438,781 Return on average equity (GAAP) 9.96 % 9.38 % 6.79 % 9.34 % 1.18 %Comparable return on average equity (non-GAAP) 9.96 % 9.38 % 6.79 % 9.34 % 5.20 %Return on average tangible common equityAverage goodwill and intangibles $ 74,192 $ 74,393 $ 75,011 $ 74,390 $ 75,226 Average tangible common equity $ 321,620 $ 320,935 $ 364,939 $ 321,988 $ 363,555 Return on average tangible common equity (GAAP) 12.26 % 11.55 % 8.18 % 11.50 % 1.42 %Comparable return on average tangible common equity (non-GAAP) 12.26 % 11.55 % 8.18 % 11.50 % 6.28 %Efficiency ratioEfficiency ratio (GAAP) 58.65 % 63.62 % 67.86 % 62.73 % 92.50 %Comparable efficiency ratio (non-GAAP) 58.65 % 63.62 % 67.86 % 62.73 % 72.11 %See complete Reconciliation of GAAP and Non-GAAP Financial Measures belowRelated non-GAAP tax benefit calculated using blended statutory rate of 29.5636% • Total loans increased by $43.4 million, or 2.07%, to $2.144 billion, through continued healthy fundings of $63.6 million and reduced payoffs of $31.6 million in the quarter. In addition, the Bank used a portion of its excessliquidity to purchase the $31.1 million residential mortgage pool mentioned above. • Total deposits increased by $25.3 million, or 0.75%, to $3.395 billion as of September 30, 2026 compared to $3.370 billion as of June 30, 2026, primarily within noninterest-bearing accounts which increased by $45.0 million.Noninterest-bearing deposits continued to make up a strong portion of total deposits at 37.8% as of September 30, 2026, compared to 36.7% last quarter. • The average cost of interest-bearing deposits decreased from 2.04% to 2.03%. The average cost of total deposits decreased from 1.28% to 1.24% primarily due to the increase in average noninterest-bearing deposits and theincrease in average one-way sales of interest-bearing deposits which improved the average deposit cost mix. The total deposit spot rate at September 30, 2026 was 1.27% compared to 1.28% at June 30, 2026. 2
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• Non-interest income grew 15.8% including an increase of $251 thousand in service charges on business deposit accounts impacted by an updated pricing strategy that better aligns with our service levels and went into effecton July 1st. • Special mention loans decreased to $65.1 million from $100.9 million last quarter while classified loans increased by $15.2 million to $35.0 million, or 1.63% of total loans from 0.95% last quarter primarily due to the downgradeof one $14.1 million owner-occupied commercial real estate relationship facing a borrower-specific challenge. The borrower is paying as agreed and there is no expected loss potential. Non-accrual loans increased by $1.2million to $9.7 million or 0.45% of total loans from 0.40%. • Due to growth in loan balances and unfunded commitments, the Bank recorded a provision for credit losses on loans of $500 thousand and a provision for credit losses on unfunded commitments of $325 thousand in the thirdquarter of 2026 compared to a reversal of the provision for credit losses on loans of $320 thousand and no provision for unfunded commitments in the prior quarter. The allowance for credit losses was 1.07% of total loans atboth September 30, 2026 and June 30, 2026. • Capital remained above well-capitalized regulatory thresholds. Bancorp's Tier I leverage ratio increased by 38 basis points to 9.04% as of September 30, 2026 from 8.66% last quarter. Total risk-based capital improved by 1basis point to 15.59% as of September 30, 2026 for Bancorp compared to 15.58% as of June 30, 2026. Due to rising market interest rates, which negatively impacted accumulated other comprehensive income, the Bancorp'stangible common equity to tangible assets ("TCE ratio") declined by 47 basis points to 8.05% as of September 30, 2026. Similarly, book value per share and tangible book value per share declined slightly by $1.14 and $1.11 to$23.37 and $18.81, respectively. • The Board of Directors declared a cash dividend of $0.25 per share on October 22, 2026, which was the 86th consecutive quarterly dividend declared by Bancorp. The dividend is payable on November 12, 2026 toshareholders of record at the close of business on November 5, 2026. “The quarterly growth in deposit service charge income, which annualized to $1 million, is an example of the strategic fee income initiatives we are pursuing to diversify our revenue streams,” said Chief Financial Officer DaveBonaccorso. “Consistent with prior rising interest rate cycles, we expect that our legendary customer service, strong liquidity position, and high noninterest-bearing deposit percentage will result in a relatively low rising-rate depositbeta. Continued legacy loan repricing along with new loan originations at higher rates should support modest net interest margin expansion over time." Loans and Credit Quality Loans increased by $43.4 million for the third quarter and totaled $2.144 billion as of September 30, 2026, compared to $2.101 billion as of June 30, 2026. Third quarter 2026 new fundings were $63.6 million compared to $62.8 millionin the prior quarter and $69.0 million in the third quarter of 2025. Year-to-date new fundings increased 12% and total commitments increased 21% from 2025. In addition, the Bank used a portion of its excess liquidity to purchase the$31.1 million residential mortgage pool mentioned above. 3
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Three months ended Nine months ended (in millions; unaudited) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025Gross loans beginning balance $ 2,101.0 $ 2,115.7 $ 2,073.6 $ 2,120.9 $ 2,083.3 Newly funded 63.6 62.8 69.0 187.2 167.0 New total commitments 102.4 98.4 99.8 281.3 232.6 Purchased 31.1 — 0.2 31.1 0.2 Net increase (decrease) in line of credit utilization 2.5 14.5 2.5 17.6 (4.1)Payoffs (31.6) (71.2) (33.9) (133.4) (95.9)Charge-offs — — — (7.3) — Note sales — — — (9.1) — Amortization (22.2) (20.8) (21.0) (62.6) (60.1)Gross loans ending balance $ 2,144.4 $ 2,101.0 $ 2,090.4 $ 2,144.4 $ 2,090.4 Weighted average rateNewly funded 6.65 % 6.53 % 6.10 % 6.37 % 6.32 %Payoffs 5.93 % 5.86 % 6.51 % 5.76 % 6.09 %Spread 0.72 % 0.67 % (0.41)% 0.61 % 0.23 % New total commitments includes both newly funded loans and new unfunded commitments Non-accrual loans increased by $1.2 million during the quarter to $9.7 million, or 0.45% of total loans, compared to $8.5 million, or 0.40%, at June 30, 2026. Classified loans increased by $15.2 million during the third quarter of 2026 to $35.0 million from $19.9 million at June 30, 2026. Loans designated as special mention, which are not considered adversely classified, decreased to $65.1million at September 30, 2026, compared to $100.9 million at June 30, 2026, largely due to the downgrade of $17.6 million to classified and upgrades and payoffs of $18.2 million. The primary driver of the increase in classified loansand the decrease in special mention loans is a $14.1 million owner-occupied commercial real estate relationship facing a borrower-specific challenge. The loan is well-collateralized, the borrower is paying as agreed, and there is noexpected loss potential. Accruing loans past due 30 to 89 days totaled $2.6 million at September 30, 2026, compared to $2.0 million at June 30, 2026. Net charge-offs totaled $21 thousand in the third quarter of 2026 compared to $39 thousand in the prior quarter. The Bank recorded a $500 thousand provision for credit losses on loans in the third quarter of 2026, compared to a reversal of the provision for credit losses on loans of $320 thousand in the prior quarter, driven primarily by loangrowth. The ratio of allowance for credit losses to total loans remained stable at 1.07% for both September 30, 2026 and June 30, 2026. There was a provision for credit losses on unfunded loan commitments of $325 thousand in the third quarter of 2026 compared to no provision in the prior quarter due to an increase in commitments, primarily within construction. Cash, Cash Equivalents and Restricted Cash Total cash, cash equivalents and restricted cash were $265.3 million at September 30, 2026, a decrease of $14.3 million compared to $279.6 million at June 30, 2026. Investments The investment securities portfolio totaled $1.215 billion at September 30, 2026, a decrease of $27.6 million from June 30, 2026. The decrease in the portfolio was due to principal repayments and calls/maturities totaling $50.2 millionand $1.1 million, respectively, and an increase of $35.2 million in unrealized losses on available-for-sale ("AFS") securities, partially offset by purchases of $58.9 million. The portfolio is eligible for pledging to the Federal Home LoanBank ("FHLB") and the Federal Reserve as collateral for borrowing, and is comprised of high credit quality investments with an average effective duration of 3.11. The portfolio generates cash flows monthly from 1 1 4
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interest, principal amortization and payoffs, which supports the Bank's liquidity. Those cash flows totaled $64.4 million and $92.1 million in the third quarter of 2026 and the second quarter of 2026, respectively. Deposits Deposits increased $25.3 million, or 0.8%, to $3.395 billion at September 30, 2026, compared to $3.370 billion at June 30, 2026, including a $45.0 million increase in noninterest-bearing balances, partially offset by decreases in moneymarket and time accounts. As of September 30, 2026 and June 30, 2026, there were no one-way sales, although the Bank sold an average of $130.6 million in the third quarter, compared to an average of $93.7 million in the secondquarter, within money market accounts during the quarter which enhanced non-interest income and net interest margin. Noninterest-bearing deposits continued to make up a strong 37.8% of total deposits at September 30, 2026,compared to 36.7% at June 30, 2026. The Bank's focused business development efforts generated $23.2 million in new deposit relationships during the quarter, including $13.3 million in new noninterest-bearing deposits. Borrowings and Liquidity As of September 30, 2026, the Bank had no outstanding short-term borrowings, consistent with June 30, 2026. Net available funding sources, including unrestricted cash, unencumbered available-for-sale securities and total availableborrowing capacity totaled $2.162 billion, or 63.67% of total deposits and 178.5% of estimated uninsured and uncollateralized deposits as of September 30, 2026. The following table details the components of our contingent liquidity sources as of September 30, 2026. (in millions) Total Available Amount Used Net AvailabilityInternal SourcesUnrestricted cash $ 247.2 $ — $ 247.2 Unencumbered securities at market value 518.6 — 518.6 External SourcesFHLB line of credit 964.0 — 964.0 FRB line of credit 291.8 — 291.8 Lines of credit at correspondent banks 140.0 — 140.0 Total Liquidity $ 2,161.6 $ — $ 2,161.6 Excludes cash items in transit as of September 30, 2026.Note: There were no off-balance sheet one-way sell deposits as of September 30, 2026. Subordinated Notes During the fourth quarter of 2025, Bancorp issued Fixed-to-Floating Subordinated Notes of $45.0 million with a final maturity date of December 1, 2035, to certain investors in a private placement to strengthen capital ratios as part ofthe balance sheet repositioning. The interest rate of the Bank’s subordinated notes is 6.75%, payable semi-annually in arrears on June 1 and December 1 of each year, which commenced on June 1, 2026. After December 1, 2030, theinterest rate will be variable and equal Three-Month Term SOFR plus 335 basis points, resetting quarterly. Subordinated notes outstanding were $44.0 million, net of issuance costs, at September 30, 2026. Capital Resources Our capital ratios are summarized in the table below. Capital Ratios September 30, 2026 June 30, 2026 September 30, 2025Bancorp Bank Bancorp Bank Bancorp BankCommon Equity Tier 1 to RWA 12.96 % 13.89 % 12.93 % 13.69 % 14.93 % 13.92 %Total Tier I to RWA 12.96 % 13.89 % 12.93 % 13.69 % 14.93 % 13.92 %Total Capital to RWA 15.59 % 14.83 % 15.58 % 14.61 % 16.13 % 15.11 %Tier I Leverage Ratio to Avg Assets 9.04 % 9.69 % 8.66 % 9.16 % 10.12 % 9.43 %Tangible Common Equity to TA 8.05 % 8.69 % 8.52 % 9.03 % 9.72 % 9.04 % 1 1 5
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The Bank's capital plan and point-in-time capital stress tests indicate that capital ratios will remain above regulatory well-capitalized and internal policy minimums throughout a five-year forecast horizon and across stress scenariossuch as additional unrealized losses on the investment portfolio, additional deposit growth or decline, loan credit quality deterioration, and potential share repurchases. Accumulated other comprehensive loss worsened by $24.8 millionin the quarter due to higher market interest rates. Consequently, book value per share and tangible book value per share decreased to $23.37 and $18.81, respectively as of September 30, 2026. Earnings Net Interest Income Net interest income totaled $31.4 million for the third quarter of 2026, a $619 thousand increase from the prior quarter. This was driven by an increase of $834 thousand in interest income on loans, largely due to an 11 basis pointincrease in average loan yields due to growth at higher rates. Also contributing to the increase was the reduction of $527 thousand in interest expense on deposits, due to improved deposit mix and active balance sheet managementthrough one-way sales of deposits. Average balances on interest-bearing transaction accounts decreased in the quarter while average balances of noninterest-bearing balances increased. The increases were partially offset by a $505thousand decrease in interest income from investment securities due to paydowns. The net interest margin increased 10 basis points to 3.48% for the third quarter of 2026, compared to 3.38% for the prior quarter. The increase is primarily due to the 11 basis point increase in average loan yields, a four basis pointdecrease in cost of deposits, and the use of one-way sales of deposits, which improved the mix of average assets and liabilities. Newly funded loans were originated at a weighted average rate of 12 basis points higher than priorquarter. Non-Interest Income Non-interest income was $3.7 million for the third quarter of 2026, compared to $3.2 million for the prior quarter. The increase of $501 thousand was primarily attributable to an increase of $251 thousand in service charges on businessdeposit accounts due to an updated pricing strategy effective July 1st, and an increase in dividend income due to a special dividend on FHLB stock of $199 thousand. Non-Interest Expense Non-interest expense totaled $20.6 million for the third quarter of 2026, compared to $21.6 million for the prior quarter, a decrease of $1.0 million, primarily driven by a decrease of $465 thousand in salaries and related benefitsexpense which included an adjustment to the incentive bonus accrual as well as the impact of a decreased number of full-time equivalent employees at the end of the third quarter. Also contributing to the decrease in quarterly expensewas a $239 thousand reduction in Federal Deposit Insurance Corporation insurance expense during the quarter, a decrease of $263 thousand in other expense, and a decrease of $132 thousand in professional services mostly relatedto audit, operations, compliance, information security and accounting fees. Share Repurchase Program On July 24, 2025, the Board of Directors authorized the repurchase of up to $25.0 million of its common stock effective July 24, 2025 through July 31, 2027. There were no repurchases in the third quarter of 2026 or in the secondquarter of 2026. As of September 30, 2026, the amount remaining available for repurchase of shares was $23.9 million. Statement Regarding use of Non-GAAP Financial MeasuresFinancial results are presented in accordance with GAAP and with reference to certain non-GAAP financial measures. Management believes that providing selected financial measures that exclude the loss on sale of securities isuseful to investors as the strategic short-term loss taken for long-term profitability makes the operational performance difficult to compare to other periods. Because there are limits to the usefulness of this or any other non-GAAPmeasure to investors, Bancorp encourages readers to consider its annual and quarterly consolidated financial statements and notes related thereto for their entirety, as filed with the Securities and Exchange Commission, and not torely on any single financial measure. A reconciliation of the GAAP financial measures to comparable non-GAAP financial measures is presented below. 6
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Reconciliation of GAAP and Non-GAAP Financial Measures (in thousands, except per share amounts; unaudited) Three months ended Nine months endedPre-tax, pre-provision net income September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025Income before provision for (benefit from) income taxes $ 13,674 $ 12,673 $ 9,610 $ 37,944 $ 4,892 Provision for (reversal of) credit losses on loans 500 (320) — 180 75 Provision for credit losses on unfunded loan commitments 325 — — 325 — Pre-tax, pre-provision net income (GAAP) 14,499 12,353 9,610 38,449 4,967 Adjustments:Losses on sale of investment securities from portfolio repositioning — — — — 18,736 Comparable pre-tax, pre-provision net income (non-GAAP) $ 14,499 $ 12,353 $ 9,610 $ 38,449 $ 23,703 Net incomeNet income (GAAP) $ 9,934 $ 9,246 $ 7,526 $ 27,690 $ 3,866 Adjustments:Losses on sale of investment securities from portfolio repositioning — — — — 18,736 Related income tax benefit — — — — (5,538)Adjustments, net of taxes — — — — 13,198 Comparable net income (non-GAAP) $ 9,934 $ 9,246 $ 7,526 $ 27,690 $ 17,064 Diluted earnings per shareWeighted average diluted shares $ 16,040 $ 15,991 $ 15,934 $ 16,003 $ 15,979 Diluted earnings per share (GAAP) $ 0.62 $ 0.58 $ 0.47 $ 1.73 $ 0.24 Comparable diluted earnings per share (non-GAAP) $ 0.62 $ 0.58 $ 0.47 $ 1.73 $ 1.07 Return on average assetsAverage assets $ 3,766,498 $ 3,850,140 $ 3,828,876 $ 3,867,814 $ 3,765,281 Return on average assets (GAAP) 1.05 % 0.96 % 0.78 % 0.96 % 0.14 %Comparable return on average assets (non-GAAP) 1.05 % 0.96 % 0.78 % 0.96 % 0.61 %Return on average equityAverage stockholders' equity $ 395,812 $ 395,328 $ 439,950 $ 396,378 $ 438,781 Return on average equity (GAAP) 9.96 % 9.38 % 6.79 % 9.34 % 1.18 %Comparable return on average equity (non-GAAP) 9.96 % 9.38 % 6.79 % 9.34 % 5.20 %Return on average tangible common equityAverage goodwill and intangibles $ 74,192 $ 74,393 $ 75,011 $ 74,390 $ 75,226 Average tangible common equity $ 321,620 $ 320,935 $ 364,939 $ 321,988 $ 363,555 Return on average tangible common equity (GAAP) 12.26 % 11.55 % 8.18 % 11.50 % 1.42 %Comparable return on average tangible common equity (non-GAAP) 12.26 % 11.55 % 8.18 % 11.50 % 6.28 %Efficiency ratioNon-interest expense $ 20,571 $ 21,597 $ 20,291 $ 64,707 $ 61,287 Net interest income $ 31,400 $ 30,781 $ 27,156 $ 92,483 $ 76,256 Non-interest income (GAAP) $ 3,670 $ 3,169 $ 2,745 $ 10,673 $ (10,002)Losses on sale of investment securities from portfolio repositioning $ — $ — $ — $ — $ 18,736 Non-interest income (non-GAAP) $ 3,670 $ 3,169 $ 2,745 $ 10,673 $ 8,734 Efficiency ratio (GAAP) 58.65 % 63.62 % 67.86 % 62.73 % 92.50 %Comparable efficiency ratio (non-GAAP) 58.65 % 63.62 % 67.86 % 62.73 % 72.11 %Related tax benefit calculated using blended statutory rate of 29.5636% 1 1 7
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Earnings Call and Webcast Information Bank of Marin Bancorp (Nasdaq: BMRC) will present its third quarter financial results call via webcast on Monday, October 26, 2026 at 8:30 a.m. PT/11:30 a.m. ET. Investors can listen to the webcast online through Bank of Marin’swebsite at www.bankofmarin.com under “Investor Relations.” To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to thelive broadcast, a replay will be available at the same website location shortly after the call. Closed captioning will be available during the live webcast, as well as on the webcast replay. About Bank of Marin Bancorp Founded in 1990 and headquartered in Novato, California, Bank of Marin is a wholly owned subsidiary of Bank of Marin Bancorp (Nasdaq: BMRC). With assets of $3.867 billion, Bank of Marin is a leading business and communitybank providing commercial and personal banking, specialty lending, and wealth management and trust services through a network of 27 branches and eight commercial banking offices serving Northern California. Known for delivering exceptional client service and investing in the communities it serves, Bank of Marin has been recognized as one of the San Francisco Business Times' Top Corporate Philanthropists since 2003 and ranked seventhon Sacramento Business Journal's 2026 Corporate Direct Giving List. Additional honors include being named one of North Bay Business Journal's Best Places to Work in 2026, the Bank's 17th recognition, and inclusion in BusinessInsider's America's High-Growth Companies 2026. Bank of Marin Bancorp, which was ranked the nation's No. 2 community bank deposit franchise by S&P Global Market Intelligence, is included in the Russell 2000® Small-Cap Indexand the Nasdaq ABA Community Bank Index. For more information, visit www.bankofmarin.com. 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 verbssuch 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 and the economicuncertainty in the United States and abroad, including economic or other disruptions to financial markets caused by the Trump administration's approach to tariffs and trade and the military action in Iran, acts of terrorism, war or otherconflicts, impacts from inflation, supply chain disruptions, changes in interest rates (including the actions taken by the Federal Reserve to control inflation), California's unemployment rate, deposit flows, real estate values, andexpected future cash flows on loans and securities; the impact of adverse developments at other banks, including bank failures, that impact general sentiment regarding the stability and liquidity of banks; costs or effects of acquisitions;competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; natural disasters (such as wildfires and earthquakes in our area); adverse weather conditions; interruptions of utility service inour markets for sustained periods; and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting our operations, pricing, products and services; andsuccessful integration of acquisitions. These and other important factors are detailed in various securities law filings made periodically by Bancorp, copies of which are available from Bancorp without charge. Bancorp undertakes noobligation 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. 8
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BANK OF MARIN BANCORP FINANCIAL HIGHLIGHTSThree months ended Nine months ended(in thousands, except per share amounts; unaudited) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025Selected operating data and performance ratios:Net income $ 9,934 $ 9,246 $ 7,526 $ 27,690 $ 3,866 Diluted earnings per common share $ 0.62 $ 0.58 $ 0.47 $ 1.73 $ 0.24 Return on average assets 1.05 % 0.96 % 0.78 % 0.96 % 0.14 %Return on average equity 9.96 % 9.38 % 6.79 % 9.34 % 1.18 %Return on average tangible common equity 12.26 % 11.55 % 8.18 % 11.50 % 1.42 %Efficiency ratio 58.65 % 63.62 % 67.86 % 62.73 % 92.50 %Tax-equivalent net interest margin 3.48 % 3.38 % 2.97 % 3.37 % 2.86 %Cost of deposits 1.24 % 1.28 % 1.41 % 1.29 % 1.40 %Cost of funds 1.32 % 1.36 % 1.41 % 1.37 % 1.40 %Net charge-offs (recoveries) $ 21 $ 39 $ 1 $ 7,326 $ 878 Net charge-offs to average loans NM NM NM 0.35 % 0.04 % (in thousands; unaudited) September 30, 2026 June 30, 2026 December 31, 2025Selected financial condition data:Total assets $ 3,866,694 $ 3,856,720 $ 3,904,778 Loans:Commercial and industrial $ 154,517 $ 162,434 $ 159,898 Real estate:Commercial owner-occupied 286,005 288,744 310,219 Commercial non-owner occupied 1,384,118 1,373,990 1,366,251 Construction 25,809 16,317 15,101 Home equity 100,810 101,404 99,222 Other residential 135,173 100,710 110,614 Installment and other consumer loans 57,954 57,377 59,548 Total loans $ 2,144,386 $ 2,100,976 $ 2,120,853 Non-accrual loans:Commercial and industrial $ 17 $ 5 $ 524 Real estate:Commercial owner-occupied — — 315 Commercial non-owner occupied 9,212 8,118 25,387 Home equity 217 219 401 Other residential 64 67 72 Installment and other consumer loans 159 44 204 Total non-accrual loans $ 9,669 $ 8,453 $ 26,903 Non-accrual loans to total loans 0.45 % 0.40 % 1.27 %Classified loans (graded substandard and doubtful) $ 35,033 $ 19,877 $ 32,111 Classified loans as a percentage of total loans 1.63 % 0.95 % 1.51 %Total accruing loans 30-89 days past due $ 2,617 $ 2,005 $ 2,843 Total accruing loans 90+ days past due $ 297 $ 297 $ — Allowance for credit losses to total loans 1.07 % 1.07 % 1.42 %Allowance for credit losses to non-accrual loans 2.37x 2.66x 1.12xTotal deposits $ 3,395,222 $ 3,369,900 $ 3,415,542 Loan-to-deposit ratio 63.16 % 62.35 % 62.09 %Stockholders' equity $ 379,376 $ 396,684 $ 394,654 Book value per share $ 23.37 $ 24.51 $ 24.51 Tangible book value per share $ 18.81 $ 19.92 $ 19.87 Tangible common equity to tangible assets - Bank 8.69 % 9.03 % 8.59 %Tangible common equity to tangible assets - Bancorp 8.05 % 8.52 % 8.35 %Total risk-based capital ratio - Bank 14.83 % 14.61 % 13.90 %Total risk-based capital ratio - Bancorp 15.59 % 15.58 % 15.25 %Tier I Leverage Ratio to Avg Assets - Bank 9.69 % 9.16 % 8.49 %Tier I Leverage Ratio to Avg Assets - Bancorp 9.04 % 8.66 % 8.26 %Full-time equivalent employees 312 315 311 1 There was one non-performing loan as of September 30, 2026 and June 30, 2026 and no non-performing loans as of December 31, 2025 over 90 days past due and accruing interest. 1 1 9
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BANK OF MARIN BANCORPCONSOLIDATED STATEMENTS OF CONDITION (in thousands, except share data; unaudited) September 30, 2026 June 30, 2026 December 31, 2025AssetsCash, cash equivalents and restricted cash $ 265,330 $ 279,639 $ 225,303 Investment securities:Available-for-sale (net of zero allowance for credit losses at September 30, 2026, June 30, 2026 and December 31, 2025, respectively) 1,215,229 1,242,831 1,327,812 Total investment securities 1,215,229 1,242,831 1,327,812 Loans, at amortized cost 2,144,386 2,100,976 2,120,853 Allowance for credit losses on loans (22,943) (22,464) (30,089)Loans, net of allowance for credit losses on loans 2,121,443 2,078,512 2,090,764 Goodwill 72,754 72,754 72,754 Bank-owned life insurance 71,770 71,324 71,306 Operating lease right-of-use assets 22,377 21,146 22,499 Bank premises and equipment, net 7,990 8,016 8,059 Core deposit intangible, net 1,329 1,520 1,916 Interest receivable and other assets 88,472 80,978 84,365 Total assets $ 3,866,694 $ 3,856,720 $ 3,904,778 Liabilities and Stockholders' EquityLiabilitiesDeposits:Noninterest-bearing $ 1,282,323 $ 1,237,322 $ 1,254,416 Interest-bearing:Transaction accounts 247,292 237,676 417,482 Savings accounts 225,467 225,353 232,109 Money market accounts 1,497,696 1,511,325 1,305,849 Time accounts 142,444 158,224 205,686 Total deposits 3,395,222 3,369,900 3,415,542 Borrowings and other obligations 582 625 709 Subordinated notes, net of issuance costs 44,006 43,955 43,857 Operating lease liabilities 24,738 23,493 24,747 Interest payable and other liabilities 22,770 22,063 25,269 Total liabilities 3,487,318 3,460,036 3,510,124 Stockholders' EquityPreferred stock, no par value,Authorized - 5,000,000 shares, none issued — — — Common stock, no par value,Authorized - 30,000,000 shares; issued and outstanding - 16,233,030, 16,186,611 and16,102,687 at September 30, 2026, June 30, 2026 and December 31, 2025, respectively 217,638 216,050 214,910 Retained earnings 213,729 207,843 198,163 Accumulated other comprehensive loss, net of taxes (51,991) (27,209) (18,419)Total stockholders' equity 379,376 396,684 394,654 Total liabilities and stockholders' equity $ 3,866,694 $ 3,856,720 $ 3,904,778 10
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BANK OF MARIN BANCORPCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three months ended Nine months ended(in thousands, except per share amounts; unaudited) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025Interest incomeInterest and fees on loans $ 28,101 $ 27,267 $ 26,254 $ 81,902 $ 77,298 Interest on investment securities 12,922 13,427 9,846 40,218 26,530 Interest on due from banks 1,401 1,646 2,969 5,439 6,768 Total interest income 42,424 42,340 39,069 127,559 110,596 Interest expenseInterest on interest-bearing transaction accounts 630 1,462 1,365 4,131 3,817 Interest on savings accounts 640 635 600 1,852 1,720 Interest on money market accounts 8,107 7,674 8,376 23,602 23,880 Interest on time accounts 832 965 1,571 3,039 4,920 Interest on borrowings and other obligations 5 6 1 17 3 Interest on subordinated notes 810 817 — 2,435 — Total interest expense 11,024 11,559 11,913 35,076 34,340 Net interest income 31,400 30,781 27,156 92,483 76,256 Provision for (reversal of) credit losses on loans 500 (320) — 180 75 Provision for credit losses on unfunded loan commitments 325 — — 325 — Net interest income after provision for credit losses 30,575 31,101 27,156 91,978 76,181 Non-interest incomeService charges on deposit accounts 814 563 547 1,940 1,645 Wealth management and trust services 562 543 564 1,701 1,739 Earnings on bank-owned life insurance, net 445 442 434 1,375 1,339 Dividends on Federal Home Loan Bank stock 398 199 366 1,452 1,103 Debit card interchange fees, net 393 397 405 1,152 1,211 Merchant interchange fees, net 184 142 87 444 273 Earnings on bank-owned life insurance death benefits — 59 — 538 306 Losses on sale of investment securities — — — — (18,736)Other income 874 824 342 2,071 1,118 Total non-interest income (loss) 3,670 3,169 2,745 10,673 (10,002)Non-interest expenseSalaries and related benefits 12,144 12,609 12,004 38,147 36,099 Occupancy and equipment 2,163 2,090 2,079 6,352 6,411 Professional services 1,239 1,371 1,115 3,703 2,960 Data processing 1,222 1,138 1,116 3,588 3,293 Information technology 511 510 538 1,536 1,514 Federal Deposit Insurance Corporation insurance 316 555 459 1,601 1,268 Depreciation and amortization 277 270 291 810 933 Directors' expense 253 261 249 799 832 Amortization of core deposit intangible 191 196 217 587 664 Charitable contributions 130 190 56 757 575 Deposit network fees 99 118 121 366 349 Other expense 2,026 2,289 2,046 6,461 6,389 Total non-interest expense 20,571 21,597 20,291 64,707 61,287 Income before provision for income taxes 13,674 12,673 9,610 37,944 4,892 Provision for income taxes 3,740 3,427 2,084 10,254 1,026 Net income $ 9,934 $ 9,246 $ 7,526 $ 27,690 $ 3,866 Earnings per common shareBasic $ 0.62 $ 0.58 $ 0.47 $ 1.74 $ 0.24 Diluted $ 0.62 $ 0.58 $ 0.47 $ 1.73 $ 0.24 Weighted average shares:Basic 15,984 15,952 15,907 15,954 15,957 Diluted 16,040 15,991 15,934 16,003 15,979 Comprehensive income (loss):Net income $ 9,934 $ 9,246 $ 7,526 $ 27,690 $ 3,866 Other comprehensive (loss) income:Change in net unrealized (losses) gains on available-for-sale securities (35,184) (4,838) 2,514 (47,664) 5,317 Reclassification adjustment for losses realized on the sale of available-for-sale securities in net income — — — — 18,736 Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity — — 360 — 1,065 Other comprehensive (loss) income, before tax (35,184) (4,838) 2,874 (47,664) 25,118 Deferred tax (benefit) expense (10,402) (1,430) 850 (14,092) 7,426 Other comprehensive (loss) income, net of tax (24,782) (3,408) 2,024 (33,572) 17,692 Total comprehensive (loss) income $ (14,848)$ 5,838 $ 9,550 $ (5,882)$ 21,558 11
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BANK OF MARIN BANCORP AVERAGE STATEMENTS OF CONDITION AND ANALYSIS OF NET INTEREST INCOME Three months ended Three months endedSeptember 30, 2026 June 30, 2026Interest InterestAverage Income/ Yield/ Average Income/ Yield/(in thousands) Balance Expense Rate Balance Expense RateAssetsInterest-earning deposits with banks $ 149,540 $ 1,401 3.67 % $ 176,889 $ 1,646 3.68 %Investment securities 1,285,175 12,960 4.03 % 1,329,846 13,465 4.05 %Loans 2,111,760 28,211 5.23 % 2,113,964 27,382 5.12 % Total interest-earning assets 3,546,475 42,572 4.70 % 3,620,699 42,493 4.64 %Cash and noninterest-bearing due from banks 30,805 32,830 Bank premises and equipment, net 7,960 7,965 Interest receivable and other assets, net 181,258 188,646 Total assets $ 3,766,498 $ 3,850,140 Liabilities and Stockholders' EquityInterest-bearing transaction accounts $ 242,102 $ 630 1.03 % $ 363,579 $ 1,462 1.61 %Savings accounts 228,289 640 1.11 % 235,698 635 1.08 %Money market accounts 1,378,872 8,107 2.33 % 1,351,175 7,674 2.28 %Time accounts including CDARS 148,659 832 2.22 % 165,017 965 2.35 %Borrowings and other obligations 599 5 3.27 % 640 6 3.71 %Subordinated notes, net 43,972 810 7.37 % 43,923 817 7.44 % Total interest-bearing liabilities 2,042,493 11,024 2.14 % 2,160,032 11,559 2.15 %Demand accounts 1,279,557 1,247,995 Interest payable and other liabilities 48,636 46,785 Stockholders' equity 395,812 395,328 Total liabilities & stockholders' equity $ 3,766,498 $ 3,850,140 Tax-equivalent net interest income/margin $ 31,548 3.48 % $ 30,934 3.38 %Reported net interest income/margin $ 31,400 3.46 % $ 30,781 3.36 %Tax-equivalent net interest rate spread 2.56 % 2.49 % Nine months ended Nine months endedSeptember 30, 2026 September 30, 2025Interest InterestAverage Income/ Yield/ Average Income/ Yield/(in thousands) Balance Expense Rate Balance Expense RateAssetsInterest-earning deposits with banks $ 196,957 $ 5,439 3.64 % $ 203,956 $ 6,768 4.38 %Investment securities 1,329,531 40,330 4.04 % 1,266,960 26,720 2.81 %Loans 2,113,250 82,239 5.13 % 2,072,623 77,614 4.94 % Total interest-earning assets 3,639,738 128,008 4.64 % 3,543,539 111,102 4.13 %Cash and noninterest-bearing due from banks 32,038 36,680 Bank premises and equipment, net 7,977 7,232 Interest receivable and other assets, net 188,061 177,830 Total assets $ 3,867,814 $ 3,765,281 Liabilities and Stockholders' EquityInterest-bearing transaction accounts $ 355,854 $ 4,131 1.55 % $ 344,189 $ 3,817 1.48 %Savings accounts 230,872 1,852 1.07 % 223,781 1,720 1.03 %Money market accounts 1,365,773 23,602 2.31 % 1,238,686 23,880 2.58 %Time accounts including CDARS 168,582 3,039 2.41 % 222,108 4,920 2.96 %Borrowings and other obligations 640 17 3.50 % 94 3 3.30 %Subordinated debenture 43,923 2,435 7.39 % — — — % Total interest-bearing liabilities 2,165,644 35,076 2.17 % 2,028,858 34,340 2.26 %Demand accounts 1,257,511 1,253,469 Interest payable and other liabilities 48,281 44,173 Stockholders' equity 396,378 438,781 Total liabilities & stockholders' equity $ 3,867,814 $ 3,765,281 Tax-equivalent net interest income/margin $ 92,932 3.37 % $ 76,761 2.86 %Reported net interest income/margin $ 92,483 3.35 % $ 76,256 2.84 %Tax-equivalent net interest rate spread 2.47 % 1.87 %Interest income/expense is divided by actual number of days in the period times 360 days to correspond to stated interest rate terms, where applicable.Yields on available-for-sale securities are calculated based on amortized cost balances rather than fair value, as changes in fair value are reflected as a component of stockholders' equity. Investment security interest is earned on 30/360 day basis monthly.Yields and interest income on tax-exempt securities and loans are presented on a taxable-equivalent basis using the Federal statutory rate of 21 percent.Average balances on loans outstanding include non-performing loans. The amortized portion of net loan origination fees is included in interest income on loans, representing an adjustment to the yield.Net loan origination costs in interest income totaled $337 thousand and $427 thousand for the three months ended September 30, 2026 and June 30, 2026 and totaled $1.2 million for both the nine months ended September 30, 2026 and 2025, respectively. 1 2, 3 1, 3, 4, 5 1 1 1 1 1 2, 3 1, 3, 4, 5 1 1 1, 5 1 1 1 2 3 4 5 12