- Earnings call transcript Q3 2022

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Andrea Henderson

Good morning, and thank you for joining Bank of Marin Bancorp's Earnings Call for the Third Quarter ended September 30, 2022. I'm Andrea Henderson, Director of Marketing for Bank of Marin. [Operator Instructions] This conference call is being recorded on October 24, 2022.

Joining us on the call today are Tim Myers, President and CEO; and Tani Girton, Executive Vice President and Chief Financial Officer.

Our earnings press release, which we issued this morning, can be found on our website at bankofmarin.com, where this call is also being webcast.

I non-GAAP note call. financial started, be we get some discussing measures we want that to will Before on the refer both table earnings reconciliation to X Please our of on press and GAAP Page for non-GAAP measures. release the

is risks this as October results from differ and and uncertainties. discussion XXXX, information forward-looking contain those Friday, on in materially call Actual the we based set such Additionally, statements XX, may on know of that statements. forth involve may

please uncertainties, well and the risks filings. these of discussion earnings as a disclosure statements release our as review in For forward-looking SEC press our

Following and I'd to like prepared to will now, answer the turn be call over our available remarks, Tim to Tim And your questions. Myers. Tani

Tim Myers

call. you, Thank morning, to Good Andrea. everyone, and our welcome

highlighted disciplined quarter commitment unwavering third fundamentals. record to Our results our

approach quality Our originations, solid supported efficiency. improved balanced loan and and excellent measured credit

ongoing service benefit focused We from We great on long-term from XXXX continued building expertise. Bank. on earnings also River of remain acquisition and market accretion local based American relationships to our customer

such, approach. costs customers our rates value remained to continue low as high-touch our As our have rising, funding with

We to have More efficiently total methodically XX. were strong an delivering non-interest rate while grow all performance non-interest consistent in and as than that allows half of of September bearing environments. core deposits exceptionally of bearing us deposits base

expanded Positive core increasing and interest quarter. cost We grew of third basis. interest net our boosted margin quarter loan our portfolio, origination impacted positively margins. in on portfolio, net by in asset the the our While basis year-over-year earning deposits was rates trends flat, our income our a XX points persisted rising loan

year $XX the We quarter. were primarily up offset to payoffs in from quarter, in Excluding PPP, the generated originations construction the by XX% quarter, up project loans million earlier related $X.X in completion. million our

business of originations demand and months double impact borrowing seeing certain easing segments as XXXX. costs during of nine in some $XXX what borrower in we of first year-to-date noted, rising million our rates produced the we That sentiment. are Our

sit of economic our today, mindful the are we the cautiously from markets are where year. remainder of we We through the of optimistic recessionary about concerns, but health

Additionally, credit position weather culture and any to asset excellent slowdown. our us quality strong well

with credit non-accrual XX% almost quality loans lead of continues off, representing X.X% fact, down end, in loans to improvement Subsequent total credit to improve, and metrics. our long-standing will classified paid just loans our in In this and $X.X million to further substandard quarter loans.

our there result, payment any are loans on a relief As no pandemic-related books. longer

some delivered $XX.X the turn in I'll Diluted third million of Now, to compared $X.XX record million the quarter. in second We final share compared from highlights to earnings $X.XX net income $XX.X to quarter. quarter. the of per second

expect a on manage unchanged we we the American realizing total and prior from will targets the expected basis. basis. of deposits will the cost basis became when Bank gradual on quarter rising, was of year-to-date just and a from and shift, being deposits meet acquisition deposit accretion merger River are With earnings announced rates increase point XX% basis to coming the track on quarters, We points, bearing, carefully in costs With public. by X non-interest remain customer-specific anticipate this the average better X a that the the but we

XXth dividend Bancorp. November by Marin of paid represents strength performance, quarterly enduring XX, share of the XXXX. of $X.XX the This Directors consecutive a on Board cash dividend Given quarterly of declared our per financial our payable Bank

detail. over Tani Now, discuss results I'll to financial turn in the call greater to our

Tani Girton

Good morning. Tim. you, Thank

than demonstrates three other income This network the overwhelmed quarters higher by $XX decline that XXXX. higher added in was in Net in average million to our the more $X higher rates, income acquisitions, quarter in first cost added million $XX.X the the interest XX% return second third value and interest during changes interest the earnings million of primarily investment deposit of than quarter Other compared year-over-year. translated which and PPP totaled adjustments available Our million on growth return interest securities and the into Also, offset included by deposit sale cash in $XX on up to X.XX% earnings. stockholders' from while investment was for deposit X.XX% to replenish third of of deposits portfolio, assets outflow. equity equity third increase and the XX.XX%, value balance quarter. returned decreased in income, balances flat. net a increases of yields The $X.X income as expected to remained quarter balances the the deposits by Year-to-date, to million driven quarter. on second sheet our and due XX.XX% partially were market

had the The was on credit primarily allowance. due not for captured increase deterioration the As either to portion portfolio of provision outlook in funds. the quantitative an loan $X.X remaining losses second end in We in Tim recognized to and of the equivalent PPP on average in quarter, this during fees losses account on down third XX quarter. our There driven provision tax At for interest compared quarter, loans basis higher of third economic improved fees quarter commitments the cost and provision net of the margin the factors no by provision the yields costs. in loans, quarter. of assets no the highlighted, in was and our net the points, third in There in a third second credit $XXX,XXX a million only from interest-earning $XXX,XXX or to the unfunded second balances in unrecognized quarter in $XXX,XXX ongoing quarter for qualitative stable PPP quarter. $XXX,XXX was

related of was sale million, investment on Non-interest in million the occurs in the investments, quarter. which declines. some $XX,XXX $XX.X That the portfolio on with the with new short-term grant second at lower-yielding recovered opportunity the loss some and items will year-end took investments. others replace was bank's securities. quarter second of second income corporate investment quarter. to third $X.X the non-interest were securities line down before increasing $XXX,XXX quarter the program from to Of in consistent quarter giving with substantially Third we the funding with modest note, be the the down generated expense contributions as showing loss higher-yielding additional Charitable yield

there a $XXX,XXX other Additionally, owned based on was valuation adjustment appraisal. to recent real a estate

reducing a of in partial favorable $XXX,XXX second Finally, fee a by in in resulted expenses the resolution amounts contract termination third a on vendor the quarter, reversal quarter-over-quarter. quarter accrued

build in acquisitions, year-to-date were regulatory from period. risk-based respectively, the of XX.X% XXX The ratio first in recent months after-tax X to rates improved most XX.X% to on non-GAAP cycles, efficiency at X.X% The XX, quarter the efficiency tangible it we expenses XX to integrate As and increase Overall, risk-based acquisition-related on [technical offset capital during available-for-sale above September for the share in basis to difficulty] prior at Marin of to substantially our common both balance compared the rising respectively due and requirements. and XX.X% continue and execute were back for and compared was XX. and XXX and June XX as quarter-over-quarter losses build All XX.X% and with comparable there sheet, across partially for Bank improvements recent a securities total capital us to capital final more forward. at basis unrealized were on Bancorp our bank's well-capitalized XX a acquisition, and and total at to year-over-year. on third points integrate was interest most ratios strong - quarter liquidity Tim basis illustrates XXXX, ratio XX.X% strategic to the Bancorp that, were ratio some profitability ratio $XX equity the XX points earnings. illustrate in of by basis associated enable generate down XX, million comments. economic Marin's turn Bank and continue quarter, on rate September of capital going With initiatives X.X% interest XX.X% I'll points June September

Tim Myers

Bank consistent our cycles. upon of track Thank returns all shareholders well build our is and strong to attractive to of positioned believe that Tani. you, throughout performance and long Marin record delivering We

in We credit quality. have built portfolio disciplined and of loan franchise cost well-established carefully-constructed lowest a model, sector a deposit a solid the banking one bases upon the and

clients with We new continuing lending California. are on clients deepening to and to across expand long-standing our commercial Northern focused relationships

that also know service we be we and customers While that excellent will bankers in-person financial manage finances vital, know always expertise online. their of increasingly our

In delivery closing, thank As support. our I a for result, to technology. to By we potential continue your continuously evaluate opportunities enhanced channels, and offset we want digital today's identify in interest investments cost-saving call on everyone to offerings. optimizing will

open We call will your now questions. to the

Operator

with from [Operator first Sandler. Clark Instructions] question Piper comes Our Please proceed. Matthew

Matthew Clark

Hi, good morning.

Tim Myers

Matthew. morning, Good

Matthew Clark

Tim. you, Thank

Tim Myers

are Good morning. How you?

Matthew Clark

of bit cycle quarter. this when guess, like you your on deposit unchanged starting Good, assuming starting a thanks. were pricing, beta Maybe are at Obviously, to you're budget? But, sounds little see the you through it deposit this costs I what for point just pressure.

Tani Girton

deposit we relationship, do higher brought a basis. change little raising the a so quite a understand sort that. about not to that model not We running much we about across the beta little do closer The it. we're our of It's are rates over we environment. down So assumption a XX%, but the their historical continue hearing betas different is and will We since betas are rates rate see so. competitors noise, it but the changed published our haven't whole bit were in to We really all than last historical on betas of little - to we a the raising way. a relationship-by-relationship evaluate board, request

Tim Myers

or that sorry, net of stuff was say would the runoff that - back significant result of the seasonal Yes. and on really we customers course And of balance their just deposit I did the business. sheet show bringing normal both

due not in So was raising rates. to deposit outflow lagging our it

where and strong we prudent categories a we Tani all as But on prudent, continue believe case-by-case relationships to we'll manage at that non-interest basis our it. raise bearing with will about these can We look said, but base. be

Matthew Clark

Okay. is like total And interest-bearing? historical, then cost check, --? that is Or but that double deposit XX%

Tani Girton

Yes, total. was that

Matthew Clark

they the third guess on sense on Trying fourth? And on the to average for even the okay. then trending just Okay, get weighted production. and rates how in quarter on loans, here a new new I rate are

Tim Myers

that in fourth the quarter. up. Yes, up categories are faster trend some they're will There trending

one quarter, versus by That's - a every If higher affected we couple it's but I loans examples, at, finite that the We prior up were of some paid rate. you just so but on that a we're the in the ups. category pool individual high look loans quarter. a in had it's off that had think, came

So came a on it on. category-by-category points higher every weighted average in off were paid trending loans dollar that the we look But basis, the than category. XX up at a you on loans actually that basis if are

Matthew Clark

monthly the monthly have Okay. to margin in NIM September? do And then Tani, you happen

Tani Girton

September the want margin? You net interest

Matthew Clark

If it. you had

Tani Girton

don't to you give ahead that. go I'll just you I and Why have out. it pull

Matthew Clark

down on but And Tim, like what loan guess, I bit. slowed then your demand growth back bit? got loan I like It guess basically your maybe, Sure. going obvious you production kind cut little net you balance on like I of in do a might sounds for hold do for obviously loan feel feel is line sense forward? half? you can has a are little thoughts reasons, growth, or what's we mean, shrink the

Tim Myers

linked it Yes, in quarter because Ex up I lot were mean, slightly to positive. the of trying slightly. $XX quarter. that up, million had year's was the basis. prior up a a it but at quarter But production industry, differently. not a bit lot it's feel we down loans I'm payoffs people PPP, of like pull-through I and And of over overemphasize was rates. the little on So look a last

happy the quarter. our we're so pipeline fourth with into And pipeline, the going

the If commercial controllable. had, were in million aren't $XXX categories of payoffs you $XXX look that payoffs at that of million we've really year-to-date, that loan

with cash Asset and deleveraging completions. sales, cash project deleveraging or

loans, payoffs brought sometimes pay yet. it some $XX to used be brought when time of the not but of back example, some XX lumpy. for construction takes that in quarter, million $XX last not or new off, in so those committed them of We And of million we bring to loans on, tend

don't about believe, been it good really, terms to in we feel have year. no an good pace. loan what's but we're where to this them reason we unfortunate timing that unfortunately, expect these we can't There's So to predict at really offset of did trends. It's at production but continue the just of payoffs

Matthew Clark

then last me. And Okay. one for

in up credits, are think bump Just I on of the five new them non-accruals, related. the three

for Just can us situation there give potential any you loss any a and resolution, plans content? including

Tim Myers

question your you Matthew. my sorry, was I'm through repeat I notes. again? going Can

Matthew Clark

credits new on on Sure. I to the non-accrual. just touch want five

think I the plans of is what there, one sense wanted for resolution. three a to them situation are relationship. I and just to of related get

Tim Myers

Yes.

a some impact So customer. was extent, pandemic that, to

selling exploring, that a time. plan a frankly, our reducing is one customer category because But biggest have as loan for the we one in happened that long in for However, that debt, and been assets so that that subsequent was, event that. the category a long, has

So was our getting back that monkey great. off

Matthew Clark

Thank you.

Tani Girton

Matthew, back question. going So to your

with quarter NIM go than third X points higher Let's September. roughly basis for

Matthew Clark

Great. Thanks again.

Operator

from Davidson. proceed. question with comes D.A. next Rulis Jeff Our Please

Jeff Rulis

Thanks. Good morning.

Tim Myers

Good morning, Jeff.

Tani Girton

Good morning.

Jeff Rulis

follow-ups your on has difficult quarter headwind to peg, number quite your to expectations fourth few those I How that the where linked quarter, and - to that meaningfully. a was originations we translated while but a call activity, get with into Just couple was be certainly and just but wanted it, down rates, topics. forecast, the - And going I for a in, forward tough may down down basis of on given Tim, are that's mean, I the linked 'XX a sense, bit. you to relative trend that the payoffs 'XX? a quarter think that do payoff

Tim Myers

Well, mean, feel there's to we're I pipeline we but by that Jeff. tough do have one some reason fourth going quarter. believe. to We large, payoffs and our the predict, about know have, into that is we to going no a good

I borrowing up. overall, it's Not activity environment estate hard predict aren't high Rates specific rate long historically real commercial going think affecting think dissimilar people to on continue. way things, scheme the to And some bigger rate taking lending. fixed pause in cases, a which everyone's of activity, because the we people certainly, the in are to pipeline is sales. is that will costs seeing It's affect outside so sidelines. sit we're just how how

going were demand those reason from to continue We net pace loans have of fourth a feel I loans. was what's at don't, and where growth. like period year. to to in any good seasonal outside we're is So quarter going they're to tentatively that And payoffs, they bit continue down said, the we it originating have - QX. I specific relative quarter this and the yes, about believe the And we our optimistic guess, where a word, for character us, the same last have, about

Jeff Rulis

the there linked little money market anything Got with that lower? funding it. And I then guess within Is rate a down. just the side, - looking going was average at on that on that that surprised on in that quarter the sequentially came balance would be

Tani Girton

own and have we seasonality those some businesses to significant one And and significant So their with had balances quarter, high money during had the inflows they outflows. customers in market. outflows that of have customers

Jeff Rulis

$X loans on just then paid subsequent of And the what on payoffs. Again, within the type enough. Fair - - Okay. last the any detail type that one were that off million?

Tim Myers

and the was for sold, of That I'd non-accrual the years specifics off. type many a loan. as but this been payment rather sold for the on a also business, one we was of not - loans, was give one It pay has business but and was it then it substandard will relief time. pandemic some

Jeff Rulis

recoveries to any the mark, tied fourth that balance coming there down, expect relative anything but The we Is can that? in anything is quarter? to else or

Tim Myers

one, no. that to Not

Jeff Rulis

Thank Okay. All right, step you. back. I'll

Operator

proceed. David Feaster Our comes from with Raymond Please next James. question

David Feaster

Hi. Good everybody. morning,

Tim Myers

morning, Good David.

David Feaster

and of the to starting just but in side - the seeing loan the your economic that demand, in Are pulse talked just just said, to rates are much And projects of then And remind And be the impact are want want debt, you seeing helpful. out us of to don't would you market. your I get you kind could higher pipeline? sense things, I you about the given maybe falling mean, that from on commentary some the landscape beat portfolio, but the seasonality I of backdrop? like uncertainty any just change pencil competitive of on loan your you don't in if the perspective?

Tim Myers

a get pipeline to was right? question starting is from lot a and in rates, in that's There's through, QX what was settled there. very QX, question. so those There's low it strong. Yes, At no the demand everyone good was down

We have falloff demand. in a seen

said, There's out. a to we're pencil within pipeline We ones on out tend fall we pass don't generally working of you Meaning, seen our deals always the credit but the they haven't things seems because be follow quality as appetite. pretty quickly. on, to

net it's growth we in our more Again, good about So prospects the for demand side. QX. feel

quarter production production strong were tend you that number in linked. always do be it's lower payouts tend just quarters, We QX to but blowout have seasonality, standpoint. to years of from where there I down a quarters, equal really the to compare origination Seasonality, It's a year-over-year. quarter an in was expect and not

do just I okay, I the quarter look So positive well, yes, say, and when it's of linked it's and to tend down look, movements. because rate

where significantly like it demand be We pipeline. we the to a these hard nothing and lot strong believe really to rate group still levels we're to right. to to I year, continue Sloan be it. affecting Yes, over that But Would able doing her leads is competitive. build that bigger? think drive is it won't me up be are were where are at means there's Nikki we last I a

our they did. the that camping throughout there market the competition you rate quarter, rates a the I in early was more of that were. think - the quarter, from rate say especially up I commercial at was down would yields going go of But saw sort liked have lot loan to up than

So I on that footing. be even this going quarter, more will into think

David Feaster

back. On increase. deposits saw Okay. liquidity balance That's position the good some color. of bringing sheet, And the sheet off-balance we then

you securities? in potential loans Or or which that like deploy seasonality? you're think about how Just it Would of reserving - that do the just deposit how you But curious flows, you was expect term? think or to really a you that think more it function that. sounds curious near whether for about

Tani Girton

Yes, exactly.

a tend have because we - sheet we maintain large So in a balance some cash. customers do that liquidity higher fairly big the level to of their on high have movements

balances So the on a the movements side. bit to tend be lumpy little of

were there. what we that's So doing

have deposits is not thing off-balance as the earnings with as deposit are networks or that as competitive the rates on other sheet were. they The the increased,

we're more that's we sheet, capture balance And bit leaning so - higher little portfolio investing to yields. extent bit to to little as securities in have our opposed a that the a these the towards

David Feaster

sense. Okay. on you That the book, the of in quarter. took makes And staying actions securities then securities a bit

You the earnbacks, makes low in talked the the about all sense world.

there's portfolio quarterly Just if there look - how going securities as are book, docket? do other securities you about think flows, the how mean, I opportunities the on are cash And at the forward? you curious would And roll-off invest are cash likely What some into to with rather those or flows? of the loan you use securities the are flows, yield? to book growth? potentially fund that cash you

Tani Girton

flows fund a million rate first. $XX always we'll million portfolio. investment from the Depending healthy $XXX the loan We've of on year. off to they run cash scenario, the Well, growth got

so loan-to-deposit grow And down the of room we portfolio. have plenty - mid-XXs, with to the our have in ratio loan we

while the back growth, is will desired our we securities one it up priority to money the get so will loan-to-deposit extent into number said, support loans, probably ratio. take redeploy to can That we So us that a our to that. to loan do on portfolio

do the the - maturity And in so to securities portfolio. because significant that's why a still balances back have to mean, And portion were I can March, able we in to the AFS we loan ample in held we use transfer portfolio. the meantime,

David Feaster

Thanks helpful. That's Okay. everybody.

Tim Myers

Thank you, David.

Operator

Terrell with from Next Stephens. Andrew proceed. question Please comes

Tim Myers

Good Andrew. morning,

Andrew Terrell

Tim. morning, Good Tani. morning, Good

Andrew Terrell

mainly level points look well. sounds you think the call September just margin. think the do low basis kind here? the it from over maybe the next offset loan the the start you coming move the maybe back of XXX to could rising curious but higher I'm deposit I costs out month around mentioned Tani, of as was deposit I heard I is just you just production better going it, as average. that will above If Or XQ potential X commentary costs, from few expansion? margin kind in at of a yield can quarters, that, like

Tani Girton

will margin our that optimistic increase. am I

be to sensitive, very continue continue closely. the we and We deposit asset costs manage to

make in moving upward So projection, I if say a - to an had - still an I'd direction. we're I upward in

Tim Myers

were Like Yes, I ones you Again, came came with have higher off, have to those, and versus loans off some at those the that variable it the so market, that. went the look loans that the of lumpy. on the that that rate same like. tend and yields agree net if on was up were we'd that with - didn't impact went in construction, a

as when we're optimistic New We will the been expand being can't that in as But funding we predict yield might cautious, other loans group we've said, all deposit well Tani side. categories, timing costs about we're and expansion. as very the think increase. NIM of further

Andrew Terrell

the at a point? seems growth out very might then That's into cadence guess, you of we XQ just how just rate run River expense of macro thinking coming lingering Tani, think about deal. maybe should coming there American helpful. tougher last And it what XXXX, completely given expense mentioned backdrop? like into - those be saves quarter, the Great. be Are layered maybe cost of was I I out the this some

Tani Girton

ARB are Yes, of completely not synergies. the done all we so with

absent all them. to I good quarter which is we rate you the - it's there cost come the upfront Tim, So be run the is that could actions, would saves could do good, pretty of when But those - activity, returns to a then add run we did lumpy I'd there's some that a Okay. be want might that? is something and third - costs follow-on to do say it initiate are again, savings. and think rate, But on little more proxy. the extent this the why obviously,

Andrew Terrell

this buybacks And good. very Tim, Okay, I were if quarter. could, there saw no I

then targeting, here? you base appetite you the a point? capital for Are standpoint? you to Just from capital are capital? any trying at any And this update from How about can buyback grow feeling provide

Tim Myers

right would that I It capital Yes. say - preservation. as progresses, continue doesn't change. towards leading that for or to we be doesn't now, this cautious capital mean

We it's, look more to It's continue the by large, adjustments the potential a capital to. And we're opportunities impact and quarter. and now, the still of weigh committed a of we're to those. still towards matter side in all cautious just continue market and timing. at for preservation AOCI out right But concept this leaning

Andrew Terrell

Yes, understood.

Okay. Thanks for the question. taking

Tim Myers

Thank you.

Operator

from Our next Woody question from comes KBW. Please Lay proceed.

Woody Lay

guys. morning good Hi,

Tim Myers

morning, Woody. Good

Wood Lay

The like a your non-accrual up, and they're overall, are markets? a feels at that takes but in pretty how one-time in still feeling But nature credit level. local you just about event low

Tim Myers

or Like good. feel We said, We all three - feel that very good the expect not Those tied some that there signs subsequent, moved over been seeing think, long relationship. lot that I customers, that's that. big on off a we're over on some recessionary relative of resolution a lot moved one our we of of about to with for was the a one one there lot markets a of sales were dropped loans, our large I rents. time. In of pressure

see occupancy office already we and Francisco on deterioration about. remain quarters the and certain we've rents We seen material properties issues like from or But of haven't continue a places talked some of to markets, San concern. pressure prior in

Wood Lay

just especially a of did uncertainty? amount increase you And factors. as below about macro there do unemployment it. then on is reserve just rate based considerable remains the How going increasing but the forward, qualitative you some Got reserve think

Tim Myers

the increase talking qualitative very and us about those question in quarter question with all a comfortable model, provision. reserve redundant, number We and unemployment because that that's the and spent here. factors which would is, going macro Moody's that's in the affect are we drive of of rate good the there feel this moves, forecast somewhat qualitative to no our other frankly that using there's when some Well, to But up. factors California took the of and lot an time a that under that number CECL factors,

Tani Girton

now, forecast feel that onerous the that quite to underlying factors. to forecast that in that, is reflect add that extent would lead starts I just the enough. not Right a the qualitative could reduction to we

Woody Lay

me. color. good all Thanks from That's That's right. All guys.

Tim Myers

Thank you, Woody.

Tani Girton

Thanks.

Operator

next Janney Coffey Scott. with Please Montgomery from comes Tim Our question proceed.

Tim Coffey

good Hi, morning everybody.

Tim Myers

Tim. morning, Good

Tani Girton

Good morning.

Tim Coffey

Tim, appreciate the local commentary footprint your what and your economies seeing you're I in there. on

have wagons of outlook. most my questions to kind want on been deposit and I asked just already, of So the answered the but circle

I'm to down? out You if pull recognize the way anticipate And deposit about good and in balances to cost. look think of that low right a a them? have to be growth, wondering, we deposit levers maintain to slightly do a to be forward lot Would really you quarter static deposit

Tim Myers

have as large hard I Like we seasonal think it with have clients been some would, but our some somewhat outflows. inflows balances has predict. to Tani talked sometimes large about, and and non-seasonal

We don't know timing timing quarter I the of of quarter. And to so always levers. this have to those of at the exactly so is of But predict. a the we you're end we think that, alluded last lot it of we the hard large outflow that, saw from right, one

managed, basis, net And approach. liquidity. good we'll strong job the fair we a It's that a well ongoing big balance an but overall business managing some but impact. activities a have on case. has of shows doing the really this We and as to continue case-by-case incremental other side of retail and lot - are been from relationships, Randy have runoff Tani and and bank some extent, of manageable our to to But the we've of really be to manage predict had clients. that might we because very being hard it's inflows be on cautious just with sheet existing customers, a if are And the that

Tani Girton

historical try for plan plan some time. planning a do what Yes. But we financial after add we've it's price, is that's we do. for trend And I outflows. for would quite outflows been we that basis, even crisis, for the - trend it, always the on and is rightsizing deposits so bringing gone in pricing. to on really not what up, relationship-focused. right in But really It's what's we important I with at environment think focused and really this we're

Tim Coffey

Okay. That's color. Thank very right. much. very that's Great, helpful you

Operator

are There further time. questions at this no

Tim Myers

you, this for everybody, thank us joining on call. Well,

please have to Thank ring. any and questions If you you. further, discuss a want give me

Operator

the We and for thank that participation, call you conclude lines. does That your you for conference ask disconnect today. your please

Bank of Marin Bancorp (BMRC) 24 Oct 222022 Q3 Earnings call transcript