Bank of Marin Bancorp (BMRC) 2008年年度報告「NASDAQ」.pdf

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1、LlKpMMCp:?.A Legacy of Legendary Service=rc)TWO THOUSAND AND EIGHT ANNUAL REPORT Filings Services APR 15 2009 SNL Financial,LC 1-800-969-4121 Bank of Marin Bancorp S A N F R A N C I S C O f S A U S A L I T O I M I L L V A L L E Y I C O R T E M A D E R A I S A N R A F A E L I N O V A T O I P E T A L

2、U M A -sstgs l%#%v,ll%LW,iAViO:0 .|V,v.*.m 0 1 K Li 111 iyi f B -iK lar K m r m I im if%iiiiiiiitiiiiiJ BERNARI U.S.PRESIDENT LATOUR G o/r?C/-JANET HAYWARD BRANCH MANAGER-THGATE OFFIQ-/.r-ss*-;.I-M;!#;Efl;i;r v.?:v.&f;#ij:l,i.e.i;-IM:;?-;:.:?,1-rs.;-;?;4j#r|HflS;i:;v;-!.i!i!i*-if;:-!-iM?*i?ft:;iti%-

3、r Isiiifl-jiir;-:.,-.z.rviv.r?t,a.;-:-:.-;:liMiid Isllifcl:-BANK OF MARIN BANCORP 2008 ANNUAL REPORT Personal Relationships We place great value on delivering personal,courteous,and responsive service,and our dedicated staff consistently surpasses customers expectations.When the U.S.President of Lou

4、is Latour,the 18th century world-renown wine producer,decided to bank at Bank of Marin,you can bet it was personal.Just ask Bernard Retornaz who heads up national operations.Its the personal attention.They are very open to our needs.We send money back and forth to France and they are always very acc

5、ommodating regarding the process and the fees;theyre willing to work with us?At Bank of Marin were known for developing attentive,trusting relationships and responding quickly to our customers needs.Were always just a phone call away or right down the street.Bernard concurs.Its a small bank where yo

6、u can get somebody on the phone.Its not like those big banks where you have to go through employees and systems and type I dont know how many numbers before you get somebody.Even at the higher level somebody live is answering the phone.They each have their own phone numbers.Thats unbelievable for me

7、 Janet Hayward,Branch Manager,has heard this all before.Bernard and his family have been with us for eleven years and the business has for five.Even though were local,we can easily handle international business transactions.We offer all of the financial products the big banks do.But were more flexib

8、le,so we can actually do more and offer our business customers more creative solutions.Its exciting.For me,its all about being available and working with him Bank of Marin acts as a true fmancial partner to local businesses in the community.Bernard nods,Theyre there when we need them.When we do a wi

9、re transfer,its unbelievable that within the hour we get the confirmation.Even on a personal level.When it was time to buy my car,they gave me a certified check on the spot.At any other bank I would have to wait seven days;thats the personal touch that I like.And when you go into the bank,they call

10、you by your first name,and when you receive a birthday card,thats pretty amazing.I love that.Hove that! shakes her head as if this is a small thing,as if every bank does this everyday.Bernard shrugs his shoulders.Its the size,its a small bank;we watch your earning results every year so we know youre

11、 doing well.My kids have accounts at Bank of Marin,too,their savings.Whenever they get money,half of it goes directly to the bank!He pauses,I know were in Marin County,but I am not Rothschild!He and Janet laugh the way old friends do.3ANK OF MARIN BANCORP 2008 ANNUAL REPORT Knowledgeable Resource We

12、 take pride in helping our customers succeed and work hard to find the right solutions to help their business prosper.Not too many bankers walk around out in the mud to look at a makeshift shop!says Tom Brandal owner of V.Dolan Trucking.It was 1987 when Tom asked Dave Schmidt,a local commercial lend

13、er,to help him with a line of credit.7 had a little tiny house as an office and I rented a little portion of the yard.We had a couple of trailers put together and a roof over the top and a concrete slab underneath.Dave went out there in his suit and tie and got mud all over his good shoes and said,W

14、ell everything looks pretty good to me.Without that insight,says Dave,you cant deliver that level of service he should be getting,and you wouldnt be able to provide it otherwise!It scared me to have a line ofcredit!says Tom.I dont like borrowing money but I needed it and Dave said just appreciate it

15、,dont misuse it and we never have.It gave us a better name for the company and it changed the whole dynamic ofour business!Years later Tom and Dave tackled another challenge when Tom was forced to buy new trucks to meet new emission standards.The type of truck we needed was new in the industry so it

16、 meant going in debt quite a bit.It was a big step but it was the right decision to keep the company progressing through our industry!Dave agrees.Tom is fairly conservative but as we talked through the decision he realized it was a business expansion that had to be made at that time.Now,years later,

17、were thinking about making additional purchases.Timing is everything.Weve been together for a number of years so weve got a pretty good feel for each other and appreciate each others input.Ive been through the ups and downs of different economies,andi can see when its time to maybe grow and when its

18、 time to start holding back.Its experience.You can have technical knowledge,but ifyou dont have experience then sometimes its misapplied or not applied!Tom adds,Experience is notjust looking at the numbers and doing it,its the relationships.Theyre invaluable.And you dont gain that knowledge overnigh

19、t.I treat Dave as a partner in my business.Im a resource!says Dave.Commercial lending is the combination of working with numbers and working with people.Its just great to be part of individual lives,business lives,and see companys like Toms grow over the years.You really feel like youve made a diffe

20、rence!Today V.Dolan Trucking serves over six counties with an entire fleet of trucks.e SCHMIDT I MANAGER TO OFFICES.Ssmfiagysyi s-(I 1:,:*:k:s:Sf|L ;y);|Mff:;?i-;fp *a.:i-BANK OF MARIN BANCORP 2008 ANNUAL REPORT Community Commitment As part of our mission,we fully support local non-profits with fina

21、ncial contributions and volunteer time and contribute over 7,000 hours a year.My dreams have always been big!says Jaime Ortiz.Six years ago,he was a teller at Bank of Marin when he joined the Marin Literacy Program.Today he is an Assistant Vice President and Assistant Branch Manager at the Corte Mad

22、era office.It was important for me to be understood by the customers and I know it was important for the bank,too.I did not want to fail the bank.They took me in.I enrolled in Marin Literacy because I needed help with the language and I could do it after work,one-on-one with a tutor!Susan Charlton,t

23、he Literacy Program Supervisor,attributes the success of the program to these relationships.We match the tutor and student carefully and train the tutors in a way to make them sensitive to the individual so they can focus on their needs.Its personalized and resolves some ofthe anxiety around learnin

24、g!Marin Literacy has helped 8,400 adults and trained 1,250 tutors thanks to the efforts of their community sponsors.For the last ten years Bank of Marin and Book Passage have partnered to put on special author events with part of the proceeds of book sales going to Marin Literacy and the Bank contri

25、buting a matching amount.Bank of Marins goal as a local bank is to help our communities prosper.We invest and lend to the community,and are deeply involved with many non-profits.For Marin Literacy the Bank also sponsors the Annual Love of Literacy Movie and Sing-Along.Two Bank people are members oft

26、heir Board and other employees help staff the events.Last September Jaime joined the volunteers.It was really touching!said Susan,He said he wanted to come back and help because ofhow wed helped him!Jaime adds,Just by attending those classes and seeing people come to the events,these hard-working pe

27、ople with families,I know that my bank is helping them achieve their personal or career goals.Thats something I wanted to do,some kind ofa small pay back.We help the community in each and every way!The best thing the Bank gives us!says Susan,is that sense of community support.They are full partners

28、with us,a part of our team,and one of us!For his outstanding efforts providing extraordinary customer service Jamie is this years recipient ofthe Bank of Marin Legendary Service Award.BANK OF MARIN BANCORP 2008 ANNUAL REPORT Dear Fellow Shareholders Despite the troubled economy and in contrast to ma

29、ny financial institutions,2008 was a good year for Bank of Marin.We produced solid earning results,experienced exceptional loan growth,and grew to over$1 billion in assets.Our earnings were stable from a year ago,totaling$12.2 million,deposits were up 2%,loans grew by 23%and we maintained our except

30、ional underwriting standards.Bank of Marin continues to be in a position of strength and stability.In December,2008 we were again awarded a superior 5 star Bauer Financial rating.We are the only bank headquar-tered in Marin County to receive this rating and are proud to have done so for 39 consecuti

31、ve quarters(a record unmatched in Northern California).Because of our solid financial position.Bank of Marin was selected in late 2008 to participate in the U.S.Treasurys volun-tary Capital Purchase Program(CPP).We agreed to participate to help stimulate our local economy and operated in the spirit

32、of the program by originating$271 million in new loans in our markets in December 2008 alone.However,recent changes and restrictions were recently implemented in the CPPafter our participation beganthat would seriously compromise our abil-ity to manage the bank effectively.To ensure we maintain our

33、independence,Bank of Marin filed notice on March 16,2009 to repurchase the$28 million in preferred stock.We plan to return the funds on or about March 3l,2009.Bank of Marin continues to be a healthy financial institution with a Risk-Based Capital Ratio well in excess ofthe regulatory standard for a

34、Weil Capitalized financial institution,which will still be true after the CPP funds are returned.We are in a good position to serve the lending and depository needs of our market going forward.We are excited about the new branch in Greenbrae that is currently under construction and scheduled to open

35、 in fall,2009.This location will augment our strong network in Marin County,and we look forward to adding to the convenience of our branch system.Bank of Marin received several community awards in 2008.For the sixth year in a row we were honored as one of the Top Corporate Philanthropists in the Bay

36、 Area by the San Francisco Business Times.We also received the 2008 Heart of Marin Corporate Community Service Award,Best Places to Work in the North Bay by the North Bay Business Journal,and Best Company to do Business with in Marin County by NorthBay biz magazine.Finally,we are extremely pleased t

37、hat all ofour branches comply with best environmental practices,earning us a Green Business Bay Area Certification.Our success in 2008 was the result of consistent actions by our organizationconservative loan underwriting,a commitment to reinvesting in our local communities,a focus on relationship b

38、anking,and extraordinary effort from all ofour Bank of Marin employees.We intend to continue doing business that way.We are confident about the future ofBank of Marin as we continue to build a stronger,even more successful bank.Our indepen-dence will remain of upmost importance so that we can serve

39、our communities at the highest possible levels.Thank you for your confidence and support ofBank of Marin.r-Joel Sklar,M D Chairman ofthe Board Sincerely,Russell A.Colombo President and ChiefExecutive Officer BANK OF MARIN BANCORP 2008 ANNUAL REPORT Directors&Officers(2)B O A R D O F D I R E C T O R

40、S Joel Sklar,M D Managing Partner,Cardiology Assoc,of Marin and San Francisco,Chairman,Bank of Marin&Bank of Marin Bancorp f|P Russell A.Colombo President and ChiefExecutive Officer Bank of Marin Bank of Marin Bancorp Judith OConnell Allen Community Volunteer James E.Deitz Retired President Heald Co

41、lleges in San Frandsco Thomas M.Foster Retired CPA and Independent Financial Consultant Robert Heller Former Governor,U.S.Federal Reserve Board and former President,Visa USA Norma J.Howard Business Consultant J.Patrick Hunt Partiier,Hunt Investments Stuart D.Lum President and ChiefExecutive Officer,

42、Edgewood Pacific Inc.Joseph D.Martino Retired Banker William H.McDevitt,Jr.President,McDevitt McDevitt Construction Corp.Brian M.Sobel Principal Consultant,Sobel Communications J.Dietrich Stroeh Partner,CSW/Stuber-Stroeh Engineering Group Jan I.Yanehiro President,Jan Yanehiro Inc.E X E C U T I V E O

43、 F F I C E R S Russell A.Colombo President and ChiefExecutive Offtcer Christina J.Cook Executive Vice President and ChiefFinancial Officer Kevin K.Coonan Executive Vice President and Chief Credit Officer Michael E.Besselievre Executive Vice President and Chief Information Offtcer Peter Peiham Execut

44、ive Vice President and Branch Executive Nancy Rinaldi Boatright Senior Vice President and Corporate Secretary BANK OF MARIN BANCORP 2008 ANNUAL REPORT Committed to Your Business and Our Community At Bank of Marin,we always go the extra mile.We respond quickly to our customers needs and work hard to

45、provide creative and flexible financing solutions.According to our customers Bank of Marins service is simply legendary.B U S I N E S S Our experienced team of bankers provides creative financial solutions tailored to any size business,delivered with responsiveness,respect and trust.Commercial Loans

46、&Lines of Credit Asset Based Loans Construction&c Commercial Real Estate Loans Cash Management Zero Balance&Sweep Accounts ACH Origination&Management,Remote Deposit 8c Image Lockbox Business Employee Services&c Fraud Protection Products Business Credit Cards 8c Merchant Services C O M M U N I T Y De

47、dicated to the success and well being ofour communities through charitable contributions,volunteerism,leadership,and local lending,we are proud to support the communities where we live and work.W E A L T H M A N A G E M E N T&P R I V A T E B A N K I N G Delivering extraordinary attentive service,bac

48、ked by integrity and commit-ment,our dedicated team provides the highest level of accountability and service.We offer professional guidance,customized financing,and financial solutions to manage your most complex banking needs.And were always available,just around the corner.Investment Management Tr

49、ust Services Retirement Benefit Plans.-I f y GREEN BUSINESS PHI HR()PY SUMMIT&AWARDS Business Joumal f BEST PLACES to WORK;3ANK OF MARIN BANCORP 2008 ANNUAL REPORT Corporate Information =3 TRANSFER AGENT AND REGISTRAR Registrar and Transfer Company 10 Commerce Drive Cranford,NJ 07016-3506(800)368-59

50、48 INDEPENDENT AUDITORS Moss Adams LLP Stockton,CA LEGAL COUNSEL Reitner Stuart 8c Moore San Luis Obispo,CA NASDAQ.SYMBOL BMRC ANNUAL MEETING 6:00 p.m.,May 12,2009 10 Avenue ofthe Flags San Rafael,CA 94903 PERIODIC REPORTS The Companys annual report for 2008 on Form 10-K,which is required to be file

51、d with the SEC,is available to any shareholder without charge.The report may be obtained by written request to Corporate Secretary,Bank of Marin Bancorp,RO.Box 2039,Novato,CA 94948.It is available in the Investor Relations section ofthe Companys website at .FORWARD-LOOKING STATEMENTS This discussion

52、 offinancial results includes forward-looking statements within the meaning of Section 27A ofthe Securities Act of 1933,and Section 21E ofthe Securities Exchange Act of 1934.The Companys actual results may differ materially from these projected results.Forward-looking statements are based on managem

53、ents current expectations regarding issues that may impact the Companys earnings in future periods.A number of factors,many ofwhich are beyond the Companys control,could cause future results to vary materially from current management expectations.Such factors include,but are not limited to,general e

54、conomic conditions,changes in interest rates,deposit flows,real estate values and competition;changes in accounting principles,policies or guidelines;changes in legislation or regulation;and other economic,competitive,governmental,regulatory and technological factors affecting the Companys operation

55、s,pricing,products and services,and other important factors detailed in various FDIC and SEC filings made periodically by the Company.The Company does not undertake any obligation to update forward-looking statements to reflect new circumstances or events or otherwise.fh.Bank of Marin Bancorp SAN FR

56、ANCISCO 235 Pine Street,San Francisco,CA 94104(415)403-5580 SAUSALITO 3 Harbor Drive,Sausalito,CA 94965(415)289-8710 MILL VALLEY 23 Reed Boulevard,Mill Valley,CA 94941(415)381-2265 19 Sunnyside Avenue,Mill Valley,CA 94941(415)380-4665 CORTE MADERA 50 Madera Boulevard,Corte Madera,CA 94925(415)927-22

57、65 SAN RAFAEL 999 Andersen Drive,San Rafael,CA 94901(415)259-0365 1101 Fourth Street,San Rafael,CA 94901(415)485-2265 4460 Redwood Highway,San Rafael,CA 94903(415)472-2265 NOVATO 368 Ignacio Boulevard,Novato,CA 94949(415)884-2265 1450 Grant Avenue,Novato,CA 94945(415)899-7338 PETALUMA 799 Baywood Drive,Petaluma,CA 94954(707)781-2210 8 4th Street,Petaluma,CA 94952(707)781-1810 1371 N.McDowell Boulevard,Petaluma,CA 94954(707)658-4210 WWW.BANKOFMARIN.COM 5 0 4 R E D W O O D B O U L E V A R D I N O V A T O,C A L I F O R N I A 9 4 9 4 7 I(4 1 5)7 6 3-4 5 2 0