Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.62 per Share
ANCHORAGE, Alaska, Aug. 23, 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 September 13, 2024, to shareholders of record at the close of business on September 5, 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 $64.30 per share at the close of the market on August 22, 2024, the current dividend equates to a yield of 3.86% on an annualized basis.
On July 24, 2024, Northrim reported net income of $9.0 million, or $1.62 per diluted share, in the second quarter of 2024, compared to $8.2 million, or $1.48 per diluted share, in the first quarter of 2024, and $5.6 million, or $0.98 per diluted share, in the second quarter a year ago.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 20 branches in Anchorage, Eagle River, the Matanuska Valley, the Kenai Peninsula, Juneau, Fairbanks, Nome, Kodiak, Ketchikan, and Sitka, serving 90% of Alaska's population; an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska's economy and its "Customer First Service" philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
Transmitted on Globe Newswire on August 23, 2024, at 5:00 a.m. Alaska Time.
| Contact: | Mike Huston, President, CEO, and COO |
| (907) 261-8750 | |
| Jed Ballard, Chief Financial Officer | |
| (907) 261-3539 |
