executives got a Big Apple thrill Wednesday and made quite a racket.
Representatives of Bank of Marin Bancorp, parent company of Novato-based Bank of Marin, rang the NASDAQ stock market closing bell as the company celebrated a strong second quarter with . Live video feeds of the event where shown at all Bank of Marin branches, including the former Charter Oak Bank on Trancas Street in Napa.
“We are honored to be invited to ring the closing bell at NASDAQ,” Russell A. Colombo, the bank's president and chief executive officer, said in a release. “This will be a special event for our organization. Our employees, customers and shareholders all play a big part in making us the successful community and business bank that we are today.”
The 22-year-old bank recently announced an increase in its dividend to 18 cents per share, extending its streak to 28 straight quarters of paid dividends.
Bank of Marin has 17 branches across Marin, San Francisco, Sonoma and Napa. The company has been traded on the NASDAQ exchange since Dec. 23, 1999.
The bank's stock price has also increased significantly from $12.56, the low in 2001 (adjusted for stock splits and dividends), to a high of $39.85 in 2011. As of 10:30 a.m. Thursday morning it was trading at $36.24.
Bank of Marin has consistently been recognized for its strong financial performance with numerous awards, including being named again to the KBW Honor Roll. Bank of Marin is one of only 45 banking institutions to have made the 2011 list, just published in June 2012.