Northrim BanCorp, Inc.
NASDAQ•NRIM
CEO: Mr. Michael G. Huston
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1990-11-15
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.
Contact Information
Market Cap
$489.09M
P/E (TTM)
7.8
14.1
Dividend Yield
2.9%
52W High
$25.05
52W Low
$15.92
52W Range
4.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$15.14M-70.21%
4-Quarter Trend
EPS
$1.23+207.50%
4-Quarter Trend
FCF
$0.00-100.00%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Q3 Net Income Surges Q3 2025 Net Income reached $27.1M, up significantly from $8.8M in 2024, largely due to a $14.2M gain on asset sale.
Strong Net Interest Margin Net Interest Margin expanded 54 basis points to 4.83% for Q3, driven by favorable earning asset mix favoring higher loan balances and yields.
Deposit Base Expansion Total deposits grew 8% to $2.91B by September 30, 2025; non-interest bearing demand deposits increased 14% year-over-year.
Capital Ratios Remain Strong Company's Total Risk-Based Capital ratio stood at 11.56%, comfortably exceeding the 10.00% regulatory requirement for well-capitalized status.
Risk Factors
Asset Quality Deterioration Adversely classified loans increased sharply to $38.6M (from $9.6M in 2024); potential problem loans rose to $28.7M.
Rising Nonaccrual Loans Net nonaccrual loans increased to $9.56M as of September 30, 2025, up from $7.53M at year-end 2024, indicating credit stress.
Interest Rate Sensitivity NIM gains are sensitive to the cost of interest-bearing liabilities; unexpected increases in funding costs could compress future margins.
Economic Concentration Risk Significant loan exposure remains in the Alaska economy, particularly the oil and gas sector, subject to commodity price volatility.
Outlook
Credit Quality Monitoring Management will closely monitor loan portfolio quality, especially given the significant increase in adversely classified and potential problem loans.
Specialty Finance Contribution The Specialty Finance segment, bolstered by the Sallyport acquisition, is expected to continue driving purchased receivable income growth.
NIM Sustainability Focus Future net interest margin performance hinges on maintaining favorable earning asset mix and managing interest expense on deposits.
New Tax Disclosure Adoption The Company intends to prospectively adopt ASU 2023-09 regarding income tax disclosures for fiscal years beginning after December 15, 2024.
Peer Comparison
Revenue (TTM)
$554.56M
$282.16M
$248.79M
Gross Margin (Latest Quarter)
ACNB80.1%
68.0%
UNTY51.2%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| BHB | $493.99M | 13.3 | 7.5% | 4.1% |
| NRIM | $489.09M | 7.8 | 21.9% | 0.0% |
| ACNB | $474.81M | 18.8 | 7.2% | 9.3% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-34.9%
Growth Under Pressure
4Q Net Income CAGR
+35.3%
Profitability Improved
Cash Flow Stability
50%
Cash Flow Needs Attention
Research & Insights
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 27, 2025|Revenue: $15.14M-70.2%|EPS: $1.23+207.5%MeetForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 28, 2025|Revenue: $61.44M+32.2%|EPS: $0.53+29.3%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: Apr 28, 2025|Revenue: $55.76M+27.7%|EPS: $0.60+61.7%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Mar 10, 2025|Revenue: $195.96M+23.8%|EPS: $1.68+48.3%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 30, 2024|Revenue: $50.81M+19.8%|EPS: $0.40+6.7%BeatForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 1, 2024|Revenue: $46.49M+19.8%|EPS: $0.41+65.7%BeatForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 3, 2024|Revenue: $43.65M+25.5%|EPS: $0.37+75.3%BeatForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Mar 8, 2024|Revenue: $158.33M+17.8%|EPS: $1.13-15.0%Miss