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A Legacy of Legendary Service
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TWO THOUSAND AND E I G HT ANNUAL REPORT
Filings Services
APR 15 2009
SNL Financial, LC
1-800-969-4121
Bank of Marin Bancorp
S AN F R A N C I S CO
f S A U S A L I TO
I M I LL V A L L EY
I C O R TE M A D E RA
I S AN R A F A EL
I N O V A TO
I P E T A L U MA
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BERNARI
U.S. PRESIDENT
LATOUR
JANET HAYWARD
BRANCH MANAGER
- T H G A TE OFFIQ-
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BANK OF MARIN BANCORP 2008 ANNUAL REPORT
Community Commitment
As part of our mission, we fully support local non-profits
with financial contributions and volunteer time
and contribute over 7,000 hours a year.
"My dreams have always been big! says Jaime Ortiz. Six years ago,
Bank of Marin's goal as a local bank is to help our communities
he was a teller at Bank of M a r in when he joined the M a r in
prosper. We invest and lend to the community, and are deeply
Literacy Program. Today he is an Assistant Vice President and
involved with many non-profits.
Assistant Branch Manager at the Corte Madera office.
For Marin Literacy the Bank also sponsors the Annual Love of
"It was important for me to be understood by the customers and I know
Literacy Movie and Sing-Along. Two Bank people are members
it was important for the bank, too. I did not want to fail the bank. They
o f t h e ir Board and other employees help staff the events. Last
took me in. I enrolled in Marin Literacy because I needed help with
September Jaime joined the volunteers. "It was really touching!
the language and I could do it after work, one-on-one with a tutor!
said Susan, "He said he wanted to come back and help because ofhow
Susan Charlton, the 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. It's
personalized and resolves some ofthe anxiety around learning!
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 M a r in Literacy and the Bank contributing a
matching amount.
we'd helped h i m!
Jaime adds, "Just by attending those classes and seeing people come to
the events, these hard-working people with families, I know that my
bank is helping them achieve their personal or career goals. That's
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 u s! says Susan, "is that sense of
community support. They are full partners with us, a p a rt of our
team, and one of u s!
For his outstanding efforts providing extraordinary customer
service Jamie is this year's recipient ofthe Bank of Marin Legendary
Service Award.
BANK OF MARIN BANCORP 2008 ANNUAL R E P O RT
Dear Fellow Shareholders
Despite the troubled economy and in contrast to many 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 exceptional underwriting standards.
Bank of M a r in continues to be in a position of strength and
We are excited about the new branch in Greenbrae that is
stability. In December, 2008 we were again awarded a superior
currently under construction and scheduled to open in fall,
5 star Bauer Financial rating. We are the only bank headquar
2009. This location will augment our strong network in Marin
tered in Marin County to receive this rating and are proud to
County, and we look forward to adding to the convenience of
have done so for 39 consecutive quarters (a record unmatched in
our branch system.
Northern California).
Bank of Marin received several community awards in 2008. For
Because of our solid financial position. Bank of M a r in was
the sixth year in a row we were honored as one of the "Top
selected in late 2008 to participate in the U.S. Treasury's volun
Corporate Philanthropists in the Bay Area" by the San Francisco
tary Capital Purchase Program (CPP). We agreed to participate
Business T i m e s. We also received the 2008 H e a rt of M a r in
to help stimulate our local economy and operated in the spirit of
"Corporate Community Service Award," "Best Places to W o rk
the program by originating $271 million in new loans in our
in the North Bay" by the North Bay Business Journal, and "Best
markets in December 2008 alone. However, recent changes and
Company to do Business with in Marin County" by NorthBay
restrictions were recently implemented in the CPP—after our
biz magazine. Finally, we are extremely pleased that all o f o ur
participation began—that would seriously compromise our abil
branches comply with best environmental practices, earning us
ity to manage the bank effectively. To ensure we maintain our
a Green Business Bay Area Certification.
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 3 l, 2009.
Our success in 2008 was the result of consistent actions by our
organization—conservative loan underwriting, a commitment
to reinvesting in our local communities, a focus on relationship
Bank of Marin continues to be a healthy financial
institution
banking, and extraordinary effort from all ofour Bank of Marin
with a Risk-Based Capital Ratio well in excess ofthe regulatory
employees. We intend to continue doing business that way. We
standard for a "Weil Capitalized" financial institution, which
are confident about the future o f B a nk of Marin as we continue
will still be true after the C PP funds are returned. We are in a
to build a stronger, even more successful bank. O ur indepen
good position to serve the lending and depository needs of our
dence will remain of upmost importance so that we can serve our
market going forward.
communities at the highest possible levels. T h a nk you for your
confidence and support ofBank of Marin.
Sincerely,
r—-^
Joel Sklar, MD
Russell A. Colombo
Chairman ofthe Board
President and ChiefExecutive Officer
BANK OF MARIN BANCORP 2008 ANNUAL R E P O RT
Directors & Officers
( 2)
B O A RD OF D I R E C T O RS
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Joel Sklar, MD
M a n a g i ng Partner,
Russell A. C o l o m bo
J u d i th O ' C o n n e ll Allen
James E. D e i tz
President a nd
Community Volunteer
Retired President
Heald Colleges
in San Frandsco
Cardiology Assoc, of M a r in
ChiefExecutive Officer
a nd San Francisco,
Bank of M a r in ^
Chairman, Bank of M a r in &
Bank of M a r in Bancorp
Bank of M a r in Bancorp
^
T h o m as M. Foster
Retired CPA
a nd Independent
Robert Heller
Former Governor,
U.S. Federal Reserve Board
Financial Consultant
a nd former President,
Visa USA
N o r ma J. H o w a rd
J. Patrick H u nt
Stuart D. L um
Joseph D. M a r t i no
Business Consultant
Partiier,
President a nd
Retired Banker
H u nt Investments
ChiefExecutive Officer,
Edgewood Pacific Inc.
William H . M c D e v i t t, Jr.
Brian M. Sobel
J. Dietrich Stroeh
Jan I. Yanehiro
President,
Principal Consultant,
Partner,
McDevitt ^ McDevitt
Sobel Communications
CSW/Stuber-Stroeh
Construction Corp.
Engineering Group
President,
J an Yanehiro Inc.
E X E C U T I VE O F F I C E RS
Russell A. C o l o m bo
President a nd
C h r i s t i na J. C o ok
Kevin K. C o o n an
M i c h a el E. Besselievre
Peter Peiham
N a n cy R i n a l di Boatright
Executive Vice President a nd
Executive Vice President a nd
Executive Vice President a nd
Executive Vice President a nd
Senior Vice President a nd
ChiefExecutive Offtcer
ChiefFinancial Officer
Chief Credit Officer
Chief Information Offtcer
Branch Executive
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 customer's needs and work hard
to provide creative and flexible financing solutions. According to
our customers Bank of Marin's service is simply legendary.
B U S I N E SS
O ur experienced team of bankers provides creative financial solutions tailored
to any size business, delivered with responsiveness, respect and trust.
Commercial Loans & Lines of Credit
Asset Based Loans
Construction &c Commercial Real Estate Loans
Cash Management
Zero Balance & Sweep Accounts
A CH 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 TY
Dedicated to the success and well being o f o ur 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 TH M A N A G E M E NT & P R I V A TE B A N K I NG
Delivering extraordinary attentive service, backed 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. A nd we're always
available, just around the corner.
Investment Management
Trust Services
Retirement Benefit Plans
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GREEN BUSINESS
PHI HR( )PY
SUMMIT & AWARDS
Business J o u m al f
BEST PLACES to WORK;
3ANK OF MARIN BANCORP 2008 ANNUAL REPORT
Corporate Information
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T R A N S F ER A G E NT
A ND R E G I S T R AR
Registrar and Transfer Company
10 Commerce Drive
Cranford, NJ 07016-3506
(800) 368-5948
www.rtco.com
L E G AL C O U N S EL
Reitner Stuart 8c Moore
San Luis Obispo, CA
N A S D A Q . S Y M B OL
BMRC
A N N U AL M E E T I NG
I N D E P E N D E NT A U D I T O RS
6:00 p.m., May 12, 2009
Moss Adams LLP
Stockton, CA
10 Avenue ofthe Flags
San Rafael, CA 94903
P E R I O D IC R E P O R TS
The Company's annual report for 2008
on Form 10-K, which is required to be
filed 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 Company's
website at www.bankofmarin.com.
F O R W A R D - L O O K I NG S T A T E M E N TS
This discussion 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 Company's actual results may differ materially from these projected results.
Forward-looking statements are based on management's current expectations regarding issues that may impact the Company's earnings in future periods. A number
of factors, many ofwhich are beyond the Company's control, could cause future results to vary materially from current management expectations. Such factors
include, but are not limited to, general economic 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 Company's operations, 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 F R A N C I S CO
235 Pine Street, San Francisco, CA 94104
(415)403-5580
S A U S A L I TO
3 Harbor Drive, Sausalito, CA 94965
(415) 289-8710
M I LL V A L L EY
23 Reed Boulevard, Mill Valley, CA 94941
(415) 381-2265
19 Sunnyside Avenue, Mill Valley, CA 94941
(415) 380-4665
C O R TE M A D E RA
50 Madera Boulevard, Corte Madera, CA 94925
(415) 927-2265
SAN R A F A EL
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
N O V A TO
368 Ignacio Boulevard, Novato, CA 94949
(415) 884-2265
1450 Grant Avenue, Novato, CA 94945
(415) 899-7338
P E T A L U MA
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
W W W . B A N K O F M A R I N . C OM
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