NOVATO, Calif. (AP) _ Bank of Marin Bancorp (BMRC) on Monday reported first-quarter net income of $10.5 million.

The Novato, California-based bank said it had earnings of 66 cents per share. Earnings, adjusted for one-time gains and costs, were 68 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The bank holding company posted revenue of $33.3 million in the period. Its revenue net of interest expense was $32.8 million, which matched Street forecasts.

Bank of Marin shares have decreased 11% since the beginning of the year. The stock has fallen 8% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMRC at https://www.zacks.com/ap/BMRC

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