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 in 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 accounts, money market deposit accounts, and certificates of deposit. It also provides family residential mortgages; commercial loans, such as secured and unsecured loans for working capital and expansion; commercial real estate loans; construction loans for commercial real estate projects, and land development and residential subdivision construction loans; and loans for automobiles, recreational vehicles, boats, and other consumer purchases, as well as home equity and commercial credit lines, and factoring services. In addition, the company offers other services that include consumer online banking, mobile app and mobile deposit, mobile Web and text banking, business online banking, personal finance, online documents, consumer and business debit cards, home equity advantage access cards, and telebanking and automated teller services. Further, it provides personalized checks, overdraft protection from savings accounts, commercial drive-up banking, automatic transfers and payments, people pay, external and wire transfers, bill pay, direct payroll deposits, electronic tax payments, automated clearing house origination and receipt, remote deposit capture, and account reconciliation and positive pay services, as well as merchant and cash management programs, annuity products, and long term investment portfolios. As of December 31, 2020, the company operated 16 branches in Anchorage, the Matanuska-Susitna Valley, Juneau, Fairbanks, Ketchikan, Sitka, and Kenai Peninsula. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.
IPO Year:
Exchange: NASDAQ
Website: northrim.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/25/2022 | Neutral → Buy | Janney |
Janney upgraded Northrim Bank from Neutral to Buy
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ANCHORAGE, Alaska, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today announced the acquisition of Sallyport Commercial Finance, LLC ("Sallyport" or "SCF") in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States and Canada. The transaction is expected to provide earnings accretion of approximately 15% to Northrim's 2025 operating results. "Having worked with Nick and the Sallyport team for several
ANCHORAGE, Alaska, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today 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. The increase in third quarter 2024 profitability as compared to the third quarter a year ago was primarily the result of an increase in mortgage banking income and higher net interest income, which was only partially offset by higher other operating expenses and a higher provision for credit losses. Dividends p
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, Northri
ANCHORAGE, Alaska, July 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today 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. The increase in second quarter 2024 profitability as compared to the prior quarter and the second quarter a year ago was primarily the result of an increase in mortgage banking income and higher net interest income, as well as a lower provision for credit losses. Dividends per share in the second quarter of
ANCHORAGE, Alaska, May 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.61 per share. The dividend will be payable on June 14, 2024, to shareholders of record at the close of business on June 6, 2024. "We are pleased to announce a quarterly dividend of $0.61 per share, as we continue to provide returns to our shareholders," said Mike Huston, President and CEO. At the stock price of $53.01 per share at the close of the market on May 23, 2024, the current dividend equates to a yield of 4.60% on an annualized basis. On April 24, 2024, Northrim reported net income of $8.2 million, or
ANCHORAGE, Alaska, April 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $8.2 million, or $1.48 per diluted share, in the first quarter of 2024, compared to $6.6 million, or $1.19 per diluted share, in the fourth quarter of 2023, and $4.8 million, or $0.84 per diluted share, in the first quarter a year ago. The increase in first quarter 2024 profitability as compared to the prior quarter was primarily the result of an increase in mortgage banking income, a lower provision for credit losses, and a gain on sale of other real estate owned ("OREO"). The increase in profitability in the first quarter of 2024 compared t
ANCHORAGE, Alaska, March 29, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Northrim BanCorp Inc., the parent company of Northrim Bank (NASDAQ:NRIM), named Mike Huston as President and CEO of Northrim BanCorp, effective April 6, 2024. Mr. Huston will also serve as Northrim BanCorp's Chief Operating Officer and Northrim Bank's President and CEO. Joe Schierhorn will continue to serve as Chairman of the Board of Directors of Northrim BanCorp and Northrim Bank, a position he has held since 2018 after serving in a number of executive and management roles since starting at the Bank as a charter employee in 1990. "We continue to implement our strategic plan for executive leadership success
ANCHORAGE, Alaska, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that its Board of Directors has authorized for repurchase up to an additional 110,000 shares of its common stock, or approximately 2% of the currently issued and outstanding shares. "Northrim's stock repurchase program has helped to build long-term value for our shareholders and we feel that it continues to be a good use of capital to continue building on that value," stated Jed Ballard, Chief Financial Officer. "Since 2018, we have repurchased and retired 1,511,383 shares, which we believe contributes to our return on equity and long-term growth in earnings per share." The company i
ANCHORAGE, Alaska, Jan. 26, 2024 (GLOBE NEWSWIRE) -- ANCHORAGE, AK — January 26, 2024 — Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.61 per share. The dividend will be payable on March 15, 2024, to shareholders of record at the close of business on March 7, 2024. "We are pleased to announce a quarterly dividend of $0.61 per share, as we continue to be committed to providing returns to our shareholders," said Joe Schierhorn, President and CEO. At the stock price of $53.46 per share at the close of the market on January 25, 2024, the current dividend equates to a yield of 4.56% on an annualized basis.
ANCHORAGE, Alaska, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $6.6 million, or $1.19 per diluted share, in the fourth quarter of 2023, compared to $8.4 million, or $1.48 per diluted share, in the third quarter of 2023, and $8.6 million, or $1.48 per diluted share, in the fourth quarter a year ago. The decrease in the fourth quarter of 2023 compared to the third quarter of 2023 is primarily due to lower net income in the Home Mortgage Lending segment resulting from a decline in mortgage originations and a decline in the fair value of mortgage servicing rights. The decrease in the fourth quarter of 2023 pr
ANCHORAGE, Alaska, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today announced the acquisition of Sallyport Commercial Finance, LLC ("Sallyport" or "SCF") in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States and Canada. The transaction is expected to provide earnings accretion of approximately 15% to Northrim's 2025 operating results. "Having worked with Nick and the Sallyport team for several
ANCHORAGE, Alaska, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today 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. The increase in third quarter 2024 profitability as compared to the third quarter a year ago was primarily the result of an increase in mortgage banking income and higher net interest income, which was only partially offset by higher other operating expenses and a higher provision for credit losses. Dividends p
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, Northri
ANCHORAGE, Alaska, May 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.61 per share. The dividend will be payable on June 14, 2024, to shareholders of record at the close of business on June 6, 2024. "We are pleased to announce a quarterly dividend of $0.61 per share, as we continue to provide returns to our shareholders," said Mike Huston, President and CEO. At the stock price of $53.01 per share at the close of the market on May 23, 2024, the current dividend equates to a yield of 4.60% on an annualized basis. On April 24, 2024, Northrim reported net income of $8.2 million, or
ANCHORAGE, Alaska, April 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $8.2 million, or $1.48 per diluted share, in the first quarter of 2024, compared to $6.6 million, or $1.19 per diluted share, in the fourth quarter of 2023, and $4.8 million, or $0.84 per diluted share, in the first quarter a year ago. The increase in first quarter 2024 profitability as compared to the prior quarter was primarily the result of an increase in mortgage banking income, a lower provision for credit losses, and a gain on sale of other real estate owned ("OREO"). The increase in profitability in the first quarter of 2024 compared t
ANCHORAGE, Alaska, Jan. 26, 2024 (GLOBE NEWSWIRE) -- ANCHORAGE, AK — January 26, 2024 — Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.61 per share. The dividend will be payable on March 15, 2024, to shareholders of record at the close of business on March 7, 2024. "We are pleased to announce a quarterly dividend of $0.61 per share, as we continue to be committed to providing returns to our shareholders," said Joe Schierhorn, President and CEO. At the stock price of $53.46 per share at the close of the market on January 25, 2024, the current dividend equates to a yield of 4.56% on an annualized basis.
ANCHORAGE, Alaska, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $6.6 million, or $1.19 per diluted share, in the fourth quarter of 2023, compared to $8.4 million, or $1.48 per diluted share, in the third quarter of 2023, and $8.6 million, or $1.48 per diluted share, in the fourth quarter a year ago. The decrease in the fourth quarter of 2023 compared to the third quarter of 2023 is primarily due to lower net income in the Home Mortgage Lending segment resulting from a decline in mortgage originations and a decline in the fair value of mortgage servicing rights. The decrease in the fourth quarter of 2023 pr
ANCHORAGE, Alaska, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.60 per share. The dividend will be payable on December 22, 2023, to shareholders of record at the close of business on December 14, 2023. "We are pleased to announce a quarterly dividend of $0.60 per share, as we continue to be committed to providing returns to our shareholders," said Joe Schierhorn, President and CEO. At the stock price of $49.37 per share at the close of the market on November 30, 2023, the current dividend equates to a yield of 4.86% on an annualized basis. On October 26, 2023, No
ANCHORAGE, Alaska, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $8.4 million, or $1.48 per diluted share, in the third quarter of 2023, compared to $5.6 million, or $0.98 per diluted share, in the second quarter of 2023, and $10.1 million, or $1.76 per diluted share, in the third quarter a year ago. The increase in third quarter 2023 profitability as compared to the prior quarter was primarily the result of higher net interest income, a gain on an OREO sale, an increase in mortgage banking income, unrealized gains on marketable equity securities and a lower provision for credit losses compared to the prece
ANCHORAGE, Alaska, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.60 per share. The dividend will be payable on September 15, 2023, to shareholders of record at the close of business on September 7, 2023. "We are pleased to announce a quarterly dividend of $0.60 per share, as we continue to be committed to providing returns to our shareholders," said Joe Schierhorn, President and CEO. At the stock price of $42.73 per share at the close of the market on August 24, 2023, the current dividend equates to a yield of 5.62% on an annualized basis. On July 27, 2023, Northrim repor
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Northrim BanCorp (NASDAQ:NRIM) reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.31 by 23.66 percent. This is a 65.31 percent increase over earnings of $0.98 per share from the same period last year.
Northrim BanCorp (NASDAQ:NRIM) reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.05 by 40.95 percent. This is a 76.19 percent increase over earnings of $0.84 per share from the same period last year.
With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Super Micro Computer, Inc. (NASDAQ:SMCI) to report quarterly earnings at $4.93 per share on revenue of $3.06 billion after the closing bell. Super Micro Computer shares rose 0.5% to $476.38 in after-hours trading. Northrim BanCorp, Inc. (NASDAQ:NRIM) said its board authorized repurchase of up to additional 110,000 shares of its common stock. Northrim BanCorp shares gained 0.3% to close at $53.60 on Friday. Analysts are expecting Nucor Corporation (NYSE:NUE) to earn $2.87 per share on revenue of $7.65 billion for the latest quarter. The
Northrim BanCorp (NASDAQ:NRIM) reported quarterly earnings of $1.19 per share which missed the analyst consensus estimate of $1.24 by 4.03 percent. This is a 19.59 percent decrease over earnings of $1.48 per share from the same period last year.
At the end of December 22, 2023, Northrim BanCorp (NASDAQ:NRIM) will reward its shareholders with a dividend payout of $0.60 per share, demonstrating an annualized dividend yield of 4.86%. Remember, only investors who held the stock before the ex-dividend date on December 13, 2023 will receive this payout. Northrim BanCorp Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: l
Tuesday marks the last chance for investors to receive the next dividend payout from Northrim BanCorp (NASDAQ:NRIM). What's Happening The company announced on Friday that it would pay shareholders a quarterly dividend of 60 cents per share. On Wednesday, Northrim BanCorp will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 60 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own NRIM as of the end of Tuesday's session are eligible to receive the 60 cents di
Northrim BanCorp (NASDAQ:NRIM) reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.25 by 18.4 percent. This is a 15.91 percent decrease over earnings of $1.76 per share from the same period last year. The company reported quarterly sales of $26.35 million which beat the analyst consensus estimate of $25.50 million by 3.33 percent. This is a 0.15 percent increase over sales of $26.31 million the same period last year.
By the end of today, September 15, 2023, Northrim BanCorp (NASDAQ:NRIM) is set to deliver a dividend payout of $0.60 per share, equating to an annualized dividend yield of 5.62%. Shareholders who owned the stock prior to the ex-dividend date on September 06, 2023 will receive this payout. Northrim BanCorp Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; }
What Defines a Value Stock? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the financial services sector: Northrim BanCorp (NASDAQ:NRIM) - P/E: 8.05 Bank of Hawaii (NYSE:BOH) - P/E: 9.71 Dime Community Bancshares (NASDAQ:DCOM) - P/E: 5.78 Banco Itau (NYSE:ITCL) - P/E: 4.61 S&T Banco
ANCHORAGE, Alaska, April 26, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp announces the retirement of Residential Mortgage Chief Executive Officer, Steve Aldrich. Residential Mortgage is a wholly owned subsidiary of Northrim Bank which is a wholly owned subsidiary of Northrim BanCorp. Northrim Chairman and CEO Joe Schierhorn thanks Steve for his 25 years at Residential Mortgage and dedication to our community. Aldrich's last day with the company will be May 5, 2023. He has been with Residential Mortgage since they opened their doors in 1998 and served as the executive vice president, chief operating officer, and president, before assuming the chief executive officer role. He has led with hu
ANCHORAGE, Alaska, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) announced that Marilyn F. Romano has been appointed to the Board of Directors. "We are pleased to have Marilyn join our Board," said Joe Schierhorn, President and CEO. "Marilyn's expertise spans a wide range of areas including strategic external relations, corporate giving, sales and marketing, communications and government affairs. Her knowledge and experience will be a notable addition to our Board of Directors." Romano is currently the Regional Vice President in Alaska for Alaska Airlines, where she maintains close relations with the over 1,900 employees in the state and the communities served by
ANCHORAGE, Alaska, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) announced that Joseph (Joe) Marushack has been appointed to the Board of Directors, effective immediately. “We are pleased that Joe has decided to join our Board,” said Joe Schierhorn, President and CEO. “Joe is well known and highly respected in Alaska’s business communities, especially within the oil & gas industry. He brings a wealth of knowledge from his executive experience and will be a good addition to our Board of Directors.” Marushack recently retired from his position as President of ConocoPhillips, Alaska. He began his career with Phillips Petroleum Company in 1982 as a staff engineer in
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