Northrim BanCorp Inc
Description
Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts. It also provides short and medium-term commercial loans, commercial credit lines, construction and real estate loans, and consumer loans, as well as short-term working capital. In addition, the company offers other services comprising consumer and business online banking, mobile app, and mobile deposits; and debit and credit cards. Further, it provides mobile web and app banking, consumer online account opening, personal finance, online documents, consumer debit cards, business debit cards, my rewards for consumer debit cards, retail lockbox, card control, corporate purchase cards, integrated payables, home equity advantage access cards, telebanking, and automated teller services. Additionally, the company offers personalized checks at account opening, overdraft protection from a savings account, commercial drive-up banking, automatic transfer and payment, People Pay, external transfer, Bill Pay, wire transfer, direct payroll deposit, electronic tax payment, Automated Clearing House origination and receipt, remote deposit capture, account reconciliation and positive pay, merchant, cash management, annuity, and long-term investment portfolio products and services. It also provides investment advisory, trust, wealth management, factoring, and mortgage services. The company was founded in 1990 and is headquartered in Anchorage, Alaska.
About
CEO
Mr. Michael G. Huston
Employees
472
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNGS
Address
3111 C Street, Anchorage, AK 99503, United States
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![Enlarged Chart]()
Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 23, 2026 | — | — | — | — |
| Oct 22, 2025 | — | — | — | — |
| Jul 23, 2025 | — | — | — | — |
| Apr 22, 2025 | — | — | — | — |
| Jan 25, 2025 | 1.64 | 1.93 | 0.29 | 17.68% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 1 | 1 | 1 | 1 |
| Average estimate | 1.79 | 2.02 | 8.02 | 8.63 |
| Low estimate | 1.79 | 2.02 | 8.02 | 8.63 |
| High estimate | 1.79 | 2.02 | 8.02 | 8.63 |
| Last year EPS | 1.48 | 1.62 | 6.76 | 8.02 |
[stock_revenue_estimate]
Growth estimates
Current qtr (Mar 2025)
20.950%
Next qtr. (Jun 2025)
24.690%
Current year (Dec 2025)
18.560%
Next year (Dec 2026)
7.610%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 129.63M | 129.19M | 133.09M | 133.99M | 101.79M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 67.19M | 62.97M | 64.75M | 64.69M | 61.38M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 31.61M | 38.49M | 47.99M | 42.45M | 26.13M |
| Tax provision | 6.21M | 7.75M | 10.48M | 9.56M | 5.43M |
| Net income | 25.39M | 30.74M | 37.52M | 32.89M | 20.69M |
| Basic EPS | 4.53 | 5.33 | 6.07 | 5.18 | 3.08 |
| Diluted EPS | 4.49 | 5.27 | 6.00 | 5.11 | 3.04 |
| Basic average shares | 5.60M | 5.77M | 6.18M | 6.35M | 6.71M |
| Diluted average shares | 5.60M | 5.77M | 6.18M | 6.35M | 6.71M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 25.39M | 30.74M | 37.52M | 32.89M | 20.69M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 27.46M | 27.75M | 20.81M | 23.30M | 20.52M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 118.53M | 259.35M | 645.83M | 115.97M | 95.42M |
| Other short term investments | 637.94M | 677.03M | 426.68M | 247.63M | 276.14M |
| Accounts receivable | 11.96M | 9.94M | 6.85M | 7.98M | 4.51M |
| Other receivables | 38.57M | 21.74M | 8.98M | 18.01M | 25.80M |
| Inventory | — | — | — | — | — |
| Prepaid assets | 2.63M | 2.36M | 2.21M | 2.40M | 1.65M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | 9.09M | 9.87M | 11.00M | 12.44M | 14.31M |
| Land and improvements | 5.38M | 5.38M | 5.14M | 5.14M | 5.14M |
| Machinery furniture equipment | 19.09M | 15.78M | 14.29M | 13.16M | 11.78M |
| Construction in progress | — | — | — | — | — |
| Leases | 11.30M | 10.41M | 10.39M | 9.18M | 9.16M |
| Accumulated depreciation | -36.13M | -33.08M | -29.94M | -26.99M | -23.86M |
| Goodwill | 53.49M | 53.51M | 48.69M | 47.50M | 48.84M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 23.45M | 23.47M | 18.66M | 17.46M | 18.80M |
| Investments and advances | 717.09M | 743.73M | 477.96M | 293.29M | 314.16M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | — | — | — | — | — |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 33.08M | 34.27M | 35.78M | 37.51M | 33.43M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 5.51M | 5.70M | 6.02M | 6.25M | 6.56M |
| Retained earnings | 236.04M | 224.23M | 204.05M | 173.50M | 149.62M |
| Other shareholders equity | -16.44M | -29.08M | -3.41M | 18,000 | 431,000 |
| Total shareholders equity | 234.72M | 218.63M | 237.82M | 221.58M | 207.12M |
| Additional paid in capital | 9.61M | 17.78M | 31.16M | 41.81M | 50.51M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||
| Net Income | 25.39M | 30.74M | 37.52M | 32.89M | 20.69M | 20.00M | 13.48M | 14.99M | 18.33M | 17.87M | 12.41M | 13.46M | 11.83M | 9.47M | 8.12M | 6.45M | 11.66M | 12.97M | 11.17M | 10.70M | 10.55M | 8.54M | 7.11M | 5.83M | 4.79M | 3.70M | 3.50M | 2.20M | 1.90M | 1.50M | 1.30M | 400,000 | -1.30M |
| Depreciation | 4.46M | 4.33M | 4.47M | 4.30M | 4.07M | 3.26M | 3.64M | 2.73M | 2.70M | 2.33M | 2.20M | 2.11M | 2.20M | 2.06M | 2.12M | 1.91M | 1.20M | 1.12M | 2.16M | 2.22M | 2.31M | 2.10M | 2.64M | 1.87M | 2.36M | 1.10M | 1.00M | 900,000 | 400,000 | 600,000 | 700,000 | 500,000 | 200,000 |
| Deferred Taxes | 580,000 | 2.11M | -1.30M | 555,000 | 711,000 | 3.01M | 4.00M | -325,000 | 148,000 | -1.31M | 1.22M | 881,000 | -959,000 | 5.78M | -1.50M | -3.64M | -393,000 | -1.86M | -821,000 | -1.26M | -1.74M | -1.26M | -1.12M | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 937,000 | 742,000 | 1.07M | 943,000 | 832,000 | 816,000 | 665,000 | 778,000 | 608,000 | 360,000 | 506,000 | 454,000 | 519,000 | 466,000 | 648,000 | 597,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 1.54M | 51.75M | 106.02M | -25.03M | -14.20M | 19.93M | 14.03M | 29.39M | 18.81M | 10.87M | 4.11M | 16.50M | -23.31M | -6.83M | 252,000 | 161,000 | 6.16M | 2.81M | 1.69M | 1.74M | 1.39M | 3.52M | 2.68M | 1.28M | 786,000 | 1.60M | 1.40M | 600,000 | 400,000 | 300,000 | 700,000 | 500,000 | 800,000 |
| Accounts Receivable | -2.02M | -3.09M | 1.13M | -3.47M | 305,000 | -432,000 | -651,000 | -114,000 | -247,000 | -644,000 | -111,000 | 280,000 | 503,000 | 585,000 | 826,000 | 420,000 | — | -519,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 11.53M | 1.83M | 3.04M | -2.68M | 8.81M | -7.75M | 1.43M | -4.85M | -4.81M | -1.86M | -1.05M | 818,000 | 2.74M | 3.35M | -14.82M | 1.24M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating Cash Flow | 42.43M | 88.40M | 151.96M | 7.51M | 21.21M | 38.85M | 36.60M | 42.61M | 35.55M | 27.61M | 19.28M | 34.50M | -6.48M | 14.88M | -4.35M | 7.14M | 18.63M | 14.52M | 14.20M | 13.40M | 12.50M | 12.89M | 11.31M | 8.99M | 7.93M | 6.40M | 5.90M | 3.70M | 2.70M | 2.40M | 2.70M | 1.40M | -300,000 |
| Investing Activities | |||||||||||||||||||||||||||||||||
| Capital Expenditures | -6.17M | -3.80M | -2.34M | -2.85M | -2.32M | -3.51M | -1.44M | -1.89M | -6.84M | -5.28M | -2.21M | -1.59M | -664,000 | -2.11M | 7.00M | -15.50M | -3.86M | -3.39M | -1.26M | -618,000 | -1.85M | -5.75M | -340,000 | -881,000 | -1.34M | -400,000 | -1.80M | -2.50M | -600,000 | -800,000 | -600,000 | -200,000 | -5.70M |
| Net Intangibles | -150,000 | -51,000 | -170,000 | -416,000 | -721,000 | -517,000 | -5.68M | — | -116,000 | — | — | — | — | -212,000 | -103,000 | -106,000 | — | -440,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | 4.63M | — | 219,000 | 6.37M | — | — | — | — | — | — | — | -210,000 | — | — | — | — | — | — | 279,000 | — | — | — | — | — | — | — | — |
| Purchase of Investments | -28.33M | -323.35M | -330.99M | -171.98M | -132.10M | -91.13M | -84.34M | -145.71M | -210.31M | -264.94M | -140.86M | -111.43M | -169.71M | -237.09M | -159.62M | -135.34M | -136.39M | -80.64M | -11.41M | -28.34M | -53.06M | -96.24M | -73.61M | -63.20M | -40.71M | -67.40M | -36.30M | -18.10M | -97.00M | -33.60M | -21.00M | -8.10M | -6.50M |
| Sale of Investments | 82.40M | 13.91M | 136.45M | 189.92M | 130.71M | 123.43M | 103.55M | 105.62M | 201.63M | 237.43M | 95.73M | 132.68M | 163.60M | 201.50M | 125.29M | 145.73M | 100.20M | 22.60M | 17.08M | 39.02M | 60.19M | 94.17M | 70.62M | 40.83M | 33.75M | 63.90M | 31.40M | 27.40M | 96.80M | 43.20M | 36.10M | 4.20M | 3.00M |
| Investing Cash Flow | 32.97M | -321.74M | -187.89M | 25.96M | -12.32M | 38.02M | 23.78M | -48.66M | -8.91M | -23.80M | -41.74M | 32.42M | -12.14M | -36.49M | 21.17M | -4.94M | -19.54M | -70.18M | -38.07M | -70.50M | -66.08M | -62.75M | -74.13M | -42.60M | -25.94M | -66.20M | -51.50M | -33.40M | -27.80M | -33.00M | -35.80M | -29.20M | -42.20M |
| Financing Activities | |||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 194.50M | — | — | 110.61M | 1.82M | — | 3.10M | 2.27M | — | — | — | — | — | — | — | 15.12M | 5.15M | 15.04M | 11.94M | 1.34M | 8.00M | 683,000 | 893,000 | — | 4.65M | 3.10M | — | 2.00M | — | — | — | — | — |
| Long-Term Debt Payments | -194.92M | -413,000 | -309,000 | -104.68M | -167,000 | -121,000 | -8.32M | -47,000 | -24.18M | -7.03M | — | -147,000 | -760,000 | -201,000 | -23.61M | -1.79M | — | -1.91M | -960,000 | -250,000 | -1.57M | — | — | -3.97M | — | — | -1.00M | — | — | — | — | — | — |
| Other Financing Charges | — | — | — | — | — | — | -445,000 | -640,000 | -434,000 | -412,000 | 87,000 | -238,000 | -256,000 | -212,000 | 26,000 | 66,000 | -187,000 | -37,000 | 140,000 | 300,000 | 1.85M | — | — | — | — | — | — | 100,000 | — | — | — | — | — |
| Financing Cash Flow | -22.52M | -24.56M | -19.69M | -12.81M | -19.36M | -7.44M | -13.14M | -3.79M | -29.69M | -12.14M | -4.13M | -4.06M | -4.28M | -3.24M | -26.50M | 8.89M | 1.42M | 10.25M | 8.56M | -923,000 | 6.27M | -539,000 | -220,000 | -5.04M | 3.81M | 2.50M | -1.60M | 1.50M | -400,000 | — | — | — | — |
| Other Cash Details | |||||||||||||||||||||||||||||||||
| End Cash Position | 118.53M | 259.35M | 645.83M | 115.97M | 95.42M | 77.54M | 77.84M | 50.55M | 58.67M | 68.56M | 85.59M | 141.31M | 79.53M | 66.03M | 66.72M | 37.83M | 63.81M | 44.28M | 89.69M | 31.09M | 36.90M | 65.58M | 41.87M | 41.31M | 37.69M | 26.90M | 19.30M | — | — | — | — | — | — |
| Income Tax Paid | 2.03M | 2.02M | 6.38M | 7.79M | 1.66M | 1.77M | 7.76M | 4.41M | 5.67M | 5.93M | 3.55M | 6.63M | 4.32M | 2.77M | 5.54M | 5.66M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 28.55M | 5.19M | 3.81M | 6.01M | 5.64M | 2.97M | 2.47M | 2.55M | 2.83M | 2.09M | 2.04M | 2.51M | 3.79M | 5.58M | 7.58M | 13.71M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 32.61M | 74.28M | 109.48M | -39.72M | -3.86M | 21.12M | 12.05M | 16.83M | 3.49M | 13.65M | 16.44M | 30.96M | -5.69M | 16.00M | 7.76M | 662,000 | 12.32M | 10.69M | 12.29M | 11.89M | 10.54M | 5.86M | 8.85M | 8.81M | 4.75M | 5.70M | 2.70M | 600,000 | 1.70M | 1.10M | 1.70M | 800,000 | -6.40M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 177,170 | 15.68M | 3.22% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 176,951 | 15.67M | 3.22% |
| DFA U.S. Small Cap Value Series | Oct 31, 2024 | 155,997 | 13.81M | 2.84% |
| Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I | Oct 31, 2024 | 128,492 | 11.38M | 2.34% |
| BlackRock Advantage Small Cap Core Fund | Nov 30, 2024 | 109,400 | 9.69M | 1.99% |
| John Hancock Regional Bank Fund (Investors Tr) | Nov 30, 2024 | 101,638 | 9.00M | 1.85% |
| Avantis U.S. Small Cap Value ETF | Nov 30, 2024 | 98,683 | 8.74M | 1.79% |
| John Hancock Financial Opportunities Fund | Nov 30, 2024 | 92,403 | 8.18M | 1.68% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 81,833 | 7.24M | 1.49% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 58,052 | 5.14M | 1.06% |
Article
Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.64 per Share
ANCHORAGE, Alaska, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.64 per share. The dividend will be payable on March 14, 2025, to shareholders of record at the close of business on March 6, 2025.
Jan 27, 2025
Article
Northrim BanCorp (NRIM) Q4 Earnings and Revenues Surpass Estimates
Northrim BanCorp (NRIM) came out with quarterly earnings of $1.95 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.19 per share a year ago.
Jan 24, 2025
Article
Northrim BanCorp Earns $10.9 Million, or $1.95 Per Diluted Share, in Fourth Quarter 2024, and $37.0 Million, or $6.62 Per Diluted Share, for the Year Ended December 31, 2024
ANCHORAGE, Alaska, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $10.9 million, or $1.95 per diluted share, in the fourth quarter of 2024, compared to $8.8 million, or $1.57 per diluted share, in the third quarter of 2024, and $6.6 million, or $1.19 per diluted share, in the fourth quarter a year ago. The increase in the fourth quarter of 2024 compared to the third quarter of 2024 is primarily due to an increase in purchased receivable income due to the Company's acquisition of Sallyport Commercial Finance, LLC (“Sallyport”), which was completed on October 31, 2024. Sallyport and its direct and indirect subsidiaries provide services and products related to factoring and asset-based lending in the United States, Canada, and the United Kingdom. Additionally, in the fourth quarter of 2024 the Company had an increase in mortgage banking income, primarily as a result of an increase in the fair value of a mortgage servicing portfolio that the Company purchased from another financial institution in the fourth quarter. The increase profitability in the fourth quarter of 2024 as compared to the same quarter of the prior year was largely driven by an increase in mortgage banking income and higher net interest income, as well as an increase in purchased receivable income as noted above, which was only partially offset by higher other operating expenses and an increase in the provision for credit losses.
Jan 24, 2025
