Novato, Calif.-basedBank of Marin Bancorpretired a $15 million fixed-rate Federal Home Loan Bank advance in the second quarter,which resulted in a prepayment penalty of $312,000. This was reflected in the quarter'sNIM, at 3.77%, compared to 4.04% in the prior quarter and 3.86% in the year-agoperiod.
The prepaymentpenalty was substantially offset by a $284,000 gain on the sale of securities. Thiswas reflected in noninterest income, which totaled $2.4 million in the 2016 secondquarter, compared to $2.2 million in the prior quarter and $2.6 million in the year-agoquarter.
Bank of Marinreported second-quarter 2016 net income of $4.8 million, or 79 cents per share,compared to net income of $4.3 million, or 71 cents per share, in the 2015 secondquarter.