ANCHORAGE, Alaska, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.62 per share. The dividend will be payable on December 27, 2024, to shareholders of record at the close of business on December 19, 2024.

"We are pleased to announce a quarterly dividend of $0.62 per share, as we continue to provide returns to our shareholders," said Mike Huston, President and CEO. At the stock price of $86.03 per share at the close of the market on December 5, 2024, the current dividend equates to a yield of 2.88% on an annualized basis.

On October 23, 2024, Northrim reported net income of $8.8 million, or $1.57 per diluted share, in the third quarter of 2024, compared to $9.0 million, or $1.62 per diluted share, in the second quarter of 2024, and $8.4 million, or $1.48 per diluted share, in the third quarter a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the holding company of Northrim Bank, an Alaska-based community bank with 20 branches throughout the state and differentiates itself with its detailed knowledge of Alaska's economy and its "Customer First Service" philosophy. The bank has two wholly-owned subsidiaries, Sallyport Commercial Finance, LLC, a specialty finance company and Residential Mortgage Holding Company, LLC, a regional home mortgage company. Pacific Wealth Advisors, LLC is an affiliated company.

www.northrim.com

Contact:

Mike Huston, President, CEO, and COO

(907) 261-8750

Jed Ballard, Chief Financial Officer

(907) 261-3539

Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.62 per Share