Bank of Marin Revenue and Competitors

Bank of Marin was incorporated in August 1989, received its charter from the California State Banking Department (now the California Department of Financial Institutions) and obtained deposit insurance through the Federal Deposit Insurance Corporation (FDIC). At the initial offering price of $10.00 per share 824,000 shares were sold, primarily to residents of Marin County. The Bank opened for business on January 23, 1990 with two branch offices. Since that time the Bank has expanded to nine branch locations. During the same period the number of shares outstanding has increased as the result of stock splits and stock dividends, stock option exercises, conversion of subordinated debentures due May 2001, contribution of newly issued stock in the early years of the Bank\'s Employee Stock Ownership and Savings Plan, and stock issued in payment of director fees. As of June 30, 2005 there were 4,923,299 shares outstanding. The Bank\'s market area is Marin County and the southern part of Sonoma County. Its customer base is made up of business and personal banking relationships from the communities near its branch office locations. In addition to a variety of deposit products and a broad range of commercial and retail lending programs, the Bank offers wealth management services. The Banking section of this site provides more information about the products and services offered by Bank of Marin.