$23.300
-0.247 (-1.06%)At close
NRIM News
NRIM Events
Q3 Net Interest Income Reaches $35.8M, Record High
Reports Q3 net interest income $35.8M vs. $32.3M last year. Reports Q3 net interest margin 5.02%, up 1-basis points from the second quarter of 2026 and up 14-basis points from the third quarter a year ago. "Record net interest income, strong deposit growth and a net interest margin above 5% drove a 21% increase in pre-provision net revenue in the third quarter," said Mike Huston, CEO. "Our earnings this quarter were reduced by a higher provision for credit losses tied to a single relationship in our Specialty Finance segment. Credit quality across our Community Banking portfolio remains solid, and we continue to see the benefits of our diversified business model, including a strong quarter from our Home Mortgage Lending segment."
Northrim Reports 21% Increase in Record Earnings for 2025
"Northrim reported another year of record earnings in 2025," said Mike Huston, Northrim's President and Chief Executive Officer. "Record net interest income in the fourth quarter contributed to a 21% increase in annual net interest income as portfolio loans increased by 8% during 2025, earning asset yields increased and funding costs declined. Operating expenses were temporarily elevated primarily due to higher marketing and personnel costs, but we expect these operating expenses to moderate in future quarters."
Northrim BanCorp Names Huston as New Chairman, Succeeding Schierhorn
Joe Schierhorn announced his retirement from Northrim BanCorp, effective as of December 31, 2025. As part of its continuing succession plan, the Board announced that Mike Huston, current President & CEO, will succeed Schierhorn as Chairman of the Board of Northrim Bank and Company on January 1, 2026, in addition to his current responsibilities. Huston has been with the Company since 2017 serving as President since 2022 and President and CEO since 2024.
Northrim BanCorp declares a 4-for-1 stock split
Northrim BanCorp announced that its Board of Directors has approved a 4-for-1 forward stock split of its common stock. The stock split is part of the Company's ongoing review of optimal trading and spread levels. The purpose of the split is to enhance stock liquidity, make shares more accessible to a broader base of retail investors, and support increased trading activity. The shares to be issued in the stock split are expected to be payable after market close on September 22, 2025, for shareholders of record at the close of business on September 18, 2025. Shareholders will receive a distribution of three additional shares of common stock for each share of common stock held. Northrim's common stock is expected to begin trading on a post-split basis at the market open on September 23, 2025 under the Company's existing trading symbol "NRIM." The stock split will increase the number of shares of Northrim's outstanding common stock from approximately 5.5 million shares to approximately 22.0 million shares. As a result of the stock split, proportional adjustments will be made to the number of shares of Northrim's common stock underlying the Company's outstanding stock options and awards, and the number of shares issuable under the Company's equity incentive plans, as well as the exercise price, as applicable. The Company anticipates filing a Form 8-K with the U.S. Securities and Exchange Commission after the effective date to report an amendment to the Company's Amended and Restated Articles of Incorporation, as amended, effecting the stock split and reflecting a proportional increase to the total number of authorized shares of Northrim's common stock from 10,000,000 to 40,000,000 and reflecting a proportional decrease in the par value of a share of Common Stock from $1.00 to $0.25.
Northrim BanCorp reports Q1 EPS $2.38 vs. $1.95 last year
Reports Q1 tangible book value per share $41.47. "Our record first quarter earnings are the result of Northrim's focus on profitable, market share driven growth," said Mike Huston, Northrim's president and CEO. "Our strong financial performance is due to our history of investing in our people and banking infrastructure to consistently deliver 'Superior Customer First Service'. We remain confident that our dedication to serving our customers and communities will support future growth."
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.