8-K
Bank of Marin Bancorp (BMRC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 31, 2023
Bank of Marin Bancorp
(Exact name of Registrant as specified in its charter)
| California | 001-33572 | 20-8859754 | |||
|---|---|---|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | 504 Redwood Blvd., Suite 100, Novato, CA | 94947 | |
| --- | --- | ||||
| (Address of principal executive office) | (Zip Code) |
Registrant’s telephone number, including area code: (415) 763-4520
Not Applicable
(Former name or former address, if changes since last report)
| Check the appropriate box below if the Form 8-K filing is to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||
|---|---|---|---|---|---|
| ☐ Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) | |||||
| ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| ☐ Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c)) | Securities registered pursuant to 12(b) of the Act: | ||||
| --- | --- | --- | |||
| Title of each class | Trading Symbol | Name of each exchange on which registered | |||
| Common stock, no par value | BMRC | The Nasdaq Stock Market | Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||
| --- | --- | ||||
| Emerging growth company ☐ | |||||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ |
Section 5 - Corporate Governance and Management
Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On August 1, 2023, Bank of Marin Bancorp (Nasdaq: BMRC) and its wholly owned subsidiary, Bank of Marin, announced the appointment of David Bloom as Head of Commercial Banking and Nikki Sloan as the Head of Growth & Strategy, a newly created role at the Bank, both effective July 31, 2023.
Bloom, who joined the Bank on July 31, will be responsible for the direction, vision, growth, and performance of the Bank’s Commercial Banking division, including its eight regional offices located throughout northern California and its specialty wine business. He previously served as senior managing director of business banking in northern California and the Pacific Northwest at First Republic Bank.
Sloan, who joined the Bank in 2021 and was most recently serving as the Head of Commercial Banking, will lead the Bank’s day-to-day execution of its strategic plan, including amplifying growth and enhancing capabilities in key, selected divisions. As part of these changes, she will oversee the Bank’s Wealth Management, Marketing, and Project Management functions to support this focus. Before joining Bank of Marin, Sloan served as a commercial banking leader and chief operating officer of commercial credit in San Francisco.
The press release is attached as Exhibit 99.1 and incorporated herein by reference.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated August 1, 2023 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | August 1, 2023 | BANK OF MARIN BANCORP | |
|---|---|---|---|
| By: | /s/ David A. Merck | ||
| David A. Merck | |||
| FVP, Controller and Principal | |||
| Accounting Officer |
Document
Exhibit 99.1
| FOR IMMEDIATE RELEASE | MEDIA CONTACT: | |
|---|---|---|
| Yahaira Garcia-Perea | ||
| Marketing & Corporate Communications Manager | ||
| Bank of Marin | ||
| 916-231-6703 | YahairaGarcia-Perea@bankofmarin.com |
Bank of Marin Bancorp Announces Executive Leadership Changes
David Bloom—30 year banking veteran—appointed as Head of Commercial Banking Office; Nikki Sloan named new Head of Growth & Strategy
NOVATO, CA – August 1, 2023 – Bank of Marin Bancorp (Nasdaq: BMRC) and its wholly owned subsidiary, Bank of Marin, announce executive leadership changes including the appointment of David Bloom as Head of Commercial Banking and Nikki Sloan as the Head of Growth & Strategy, a newly created role at the Bank.
“We are excited to take advantage of the opportunity to add depth to our leadership team. This executive leadership restructuring will help propel growth in our Commercial Banking segment, while placing intentional focus on the execution of our strategic objectives to position the Bank for the future,” said Tim Myers, President and CEO. “David’s wealth of experience and industry knowledge will help take our well-established Commercial Banking division to the next level. Meanwhile,” he adds, “Nikki will play a pivotal role managing business initiatives and Bank divisions critical to achieving our strategic plan and our long-term success. Both David and Nikki’s careers embody the Bank’s values, demonstrating a dedication to disciplined fundamentals, relationship banking, and commitment to community. I am thrilled to welcome David to our team, and continue to work alongside Nikki in building a stronger Bank.”
Bloom, who joined the Bank on July 31, is responsible for the direction, vision, growth, and performance of the Bank’s Commercial Banking division, including its eight regional offices located throughout northern California and its specialty wine business. He previously served as senior managing director of business banking in northern California and the Pacific Northwest at First Republic Bank.
Sloan, who joined the Bank in 2021, will lead the Bank’s day-to-day execution of its strategic plan, including amplifying growth and enhancing capabilities in key, selected divisions. As part of these changes, she will oversee the Bank’s Wealth Management, Marketing, and Project Management functions to support this focus. Before joining Bank of Marin, Sloan served as a commercial banking leader and chief operating officer of commercial credit in San Francisco.
About Bank of Marin Bancorp
Founded in 1990 and headquartered in Novato, Bank of Marin is the wholly owned subsidiary of Bank of Marin Bancorp (Nasdaq: BMRC). A leading business and community bank in Northern California, with assets of $4.1 billion, Bank of Marin has 27 retail branches and 8 commercial banking offices located across 10 counties. Bank of Marin provides commercial banking, personal banking, and wealth management and trust services. Specializing in providing legendary service to its customers and investing in its local communities, Bank of Marin has consistently been ranked one of the “Top Corporate Philanthropists" by the San Francisco Business Times and one of the “Best Places to Work” by the North Bay Business Journal. Bank of Marin Bancorp is included in the Russell 2000 Small-Cap Index and Nasdaq ABA Community Bank Index. For more information, go to www.bankofmarin.com.