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Northrim Bancorp Inc(NRIM US)

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ProfileEntity Structure

Documents

SEC Filings

Financials & Metrics

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NRIM US​

Northrim Bancorp Inc — Company Profile

Northrim BanCorp, Inc. functions as the parent entity for Northrim Bank, which delivers a comprehensive range of commercial banking products and services primarily to businesses and professional clients. Its operations are divided into two main divisions: Community Banking and Home Mortgage Lending. The bank offers a diverse suite of deposit accounts, including noninterest-bearing checking accounts, interest-bearing time deposits, standard checking and savings accounts, individual retirement accounts (IRAs), money market deposit accounts, certificates of deposit (CDs), and specialized business sweep accounts. For lending needs, it provides various short and medium-term commercial loans, commercial lines of credit, construction and real estate financing, consumer loans, and solutions for short-term working capital. Customers benefit from extensive digital and convenience services such as consumer and business online banking, a mobile app with mobile deposit capabilities, mobile web and text banking, online account opening, personal finance management tools, digital document access, and a variety of debit and credit card offerings. Further convenience is provided through telebanking and automated teller machines (ATMs). Northrim also facilitates numerous financial transactions and business solutions, including personalized checks, overdraft protection via savings accounts, commercial drive-up banking, automated transfers and payments, peer-to-peer payments (People Pay), external and wire transfers, Bill Pay, direct payroll deposits, electronic tax payments, and comprehensive Automated Clearing House (ACH) origination and receipt services. Advanced business tools include remote deposit capture, account reconciliation, positive pay for fraud prevention, merchant services, and robust cash management solutions. Additionally, it offers annuity products and long-term investment portfolio management. Beyond traditional banking, the company extends its services to include investment advisory, trust services, wealth management, factoring, and mortgage brokerage. As of January 28, 2022, Northrim BanCorp operated 17 branches situated in key Alaskan locations: Anchorage (where its headquarters are located), the Matanuska Valley, Soldotna, Juneau, Fairbanks, Ketchikan, and Sitka. The company was established in 1990.

Sector
Financials
Industry
Banks
Exchange
UQ
CEO
Michael G. Huston
Headquarters
Anchorage, AK, US
IPO Date
Nov 15, 1990
Employees
516
Website
www.northrim.com

Key Metrics

Price
$24.76
Market Cap
$550.78M
Revenue (TTM)
$59.76M
Net Income (TTM)
$13.68M
EPS (TTM)
0.62
P/E (TTM)
8.48
P/B (TTM)
1.64
Dividend Yield
2.59%
ROE (TTM)
4.07%
ROA (TTM)
0.41%
Operating Margin
30.05%
Beta
0.46

Dividends

Last Dividend
$0.16
Last Yield
0.03%

Summary

Northrim BanCorp, Inc. functions as the parent entity for Northrim Bank, which delivers a comprehensive range of commercial banking products and services primarily to businesses and professional clients. Its operations are divided into two main divisions: Community Banking and Home Mortgage Lending. The bank offers a diverse suite of deposit accounts, including noninterest-bearing checking accounts, interest-bearing time deposits, standard checking and savings accounts, individual retirement accounts (IRAs), money market deposit accounts, certificates of deposit (CDs), and specialized business sweep accounts. For lending needs, it provides various short and medium-term commercial loans, commercial lines of credit, construction and real estate financing, consumer loans, and solutions for short-term working capital. Customers benefit from extensive digital and convenience services such as consumer and business online banking, a mobile app with mobile deposit capabilities, mobile web and text banking, online account opening, personal finance management tools, digital document access, and a variety of debit and credit card offerings. Further convenience is provided through telebanking and automated teller machines (ATMs). Northrim also facilitates numerous financial transactions and business solutions, including personalized checks, overdraft protection via savings accounts, commercial drive-up banking, automated transfers and payments, peer-to-peer payments (People Pay), external and wire transfers, Bill Pay, direct payroll deposits, electronic tax payments, and comprehensive Automated Clearing House (ACH) origination and receipt services. Advanced business tools include remote deposit capture, account reconciliation, positive pay for fraud prevention, merchant services, and robust cash management solutions. Additionally, it offers annuity products and long-term investment portfolio management. Beyond traditional banking, the company extends its services to include investment advisory, trust services, wealth management, factoring, and mortgage brokerage. As of January 28, 2022, Northrim BanCorp operated 17 branches situated in key Alaskan locations: Anchorage (where its headquarters are located), the Matanuska Valley, Soldotna, Juneau, Fairbanks, Ketchikan, and Sitka. The company was established in 1990.

Website
www.northrim.com
Location
Anchorage, AK, US
Phone907 562 0062
Employees516
CEOMichael G. Huston
Sector
Financials
Industry
Banks
IPO DateNov 15, 1990

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Latest Documents

SEC Filings(1.2K)

Expand
  • 8-KSubmission of Matters to a Vote of Security Holders22 Oct
  • 8-KResults of Operations and Financial Condition15 Oct
  • EFFECTNotice of effectiveness18 Sep
  • 424B3Prospectus filing (Rule 424(b)(3))17 Sep
  • S-4/ARegistration statement (business combination, amendment)15 Sep
  • 4Statement of changes in beneficial ownership8 Sep
  • 4Statement of changes in beneficial ownership31 Aug
  • 4Statement of changes in beneficial ownership28 Aug
  • 144Ballard Jed W27 Aug
  • S-4Registration statement (business combination)25 Aug
  • 4Statement of changes in beneficial ownership3 Aug
  • 144EDWARDS MARK DOUGLAS3 Aug
  • 4Statement of changes in beneficial ownership3 Aug
  • 10-QQ2ended 30 Jun 202631 Jul
  • SC 13G/ANORTHRIM BANCORP INC31 Jul
  • 144CRIQUI JASON ALEXANDER28 Jul
  • 8-KEntry into a Material Definitive Agreement23 Jul
  • 8-KResults of Operations and Financial Condition22 Jul
  • 4Statement of changes in beneficial ownership2 Jun
  • 4Statement of changes in beneficial ownership2 Jun

News

  • Northrim BanCorp, Inc. and PBCO Financial Corporation Announce Shareholder Approvals for Proposed Acquisition22 Oct
  • Northrim BanCorp (NRIM) Q3 Earnings Lag Estimates15 Oct
  • Northrim BanCorp Earns $14.4 Million, or $0.63 Per Diluted Share, in Third Quarter 202615 Oct
  • Are Investors Undervaluing Northrim BanCorp (NRIM) Right Now?5 Oct
  • PBCO Financial Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of PBCO Financial Corporation - PBCO24 Sep
  • Is Northrim BanCorp (NRIM) Stock Undervalued Right Now?18 Sep
  • 4 Stocks to Buy That Declared Dividend Hikes Amid Geopolitical Woes4 Sep
  • Is Northrim BanCorp (NRIM) a Great Value Stock Right Now?2 Sep
  • 26,300 Shares in Northrim BanCorp Inc $NRIM Bought by Canada Pension Plan Investment Board2 Sep
  • Deutsche Bank AG Purchases New Shares in Northrim BanCorp Inc $NRIM2 Sep
  • Dividend Announcements: August 22-28, 202630 Aug
  • NRIM Stock Alert: Halper Sadeh LLC is Investigating Whether Northrim BanCorp, Inc. is Obtaining a Fair Price for its Shareholders29 Aug
  • NRIM Stock Alert: Halper Sadeh LLC is Investigating Whether Northrim BanCorp, Inc. is Obtaining a Fair Price for its Shareholders29 Aug
  • Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.17 per Share28 Aug
  • Alaska Wealth Advisors LLC Invests $8.48 Million in Northrim BanCorp Inc $NRIM22 Aug
  • Should Value Investors Buy Northrim BanCorp (NRIM) Stock?17 Aug
  • The M&A Class Action Firm Encourages $hareholders To Contact Monteverde Concerning The Merger—NRIM, NEUP, SAFT, and RMAX30 Jul
  • KBRA Comments on Northrim BanCorp, Inc.'s Proposed Acquisition of PBCO Financial Corporation27 Jul

Mentions in Filings

  • #Navient Corp. 24,760 242,896 NB Bancorp, Inc. 10,476 227,539 NBT Bancorp, Inc. 15,401 684,266 \*NCR Atleos Corp. 20,621 769,163 Nelnet, Inc., Class A 3,458 456,110 \*NerdWallet, Inc., Class A 9,818 118,405 \*NI Holdings, Inc. 1,051 14,315 Nicolet Bankshares , Inc. 3,958 577,789 \*NMI Holdings, Inc., Class A 22,006 852,072 Northeast Bank 2,038 234,839 Northeast Community Bancorp, Inc. 1,548 …
    Dimensional ETF TrustNorthrim Bancorp Inc·NPORT-EX - NT NPORT-P - Notification of late filing (portfolio holdings)·Q1 26·13 Aug
  • … s Doyon's Senior Vice President and Chief Operating Officer from 2008 to 2011. Mr. Schutt continues to serve in a consulting capacity with Doyon Limited until May 2027. He also serves on the board of directors for <strong>Northrim BanCorp, Inc.</strong> (NASDAQ: NRIM), Akeela, Inc., Keep Alaska Competitive, the University of Alaska Fairbanks Board of Advisors (through 2027), and Doyon Utilities (through May 2027). Mr. Schutt also co-owns Nahtsiith, LLC (dba Ancho …
    Alaska Silver Corp.Northrim Bancorp Inc·8-K - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers·Q2 26·11 Jun
  • … m Stanford University, followed by his juris doctorate from Stanford Law School. Mr. Schutt is Koyukon Athabascan and is an enrolled member of the Native Village of Tanana. He serves on the Board of Directors for <strong>Northrim BanCorp, Inc.</strong>, Akeela, Inc., and the University of Alaska Fairbanks Board of Advisors. Kit Marrs, CEO, stated: "We are extremely excited about strengthening our board of directors with the addition of Aaron Schutt. He has a lo …
    Alaska Silver Corp.Northrim Bancorp Inc·EX-99.1 - 8-K - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers·Q2 26·14 May
  • … W | Chicago | IL | $ | 179,297 | | 57 | | Dec | | $ | 182.41 | $ | 33,373 | | NPB | Northpointe Bancshares, Inc. | NYSE | MW | Grand Rapids | MI | $ | 7,530 | | 1 | | Dec | 2/13/25 | $ | 17.44 | $ | 534 | | NRIM | <strong>Northrim BanCorp, Inc.</strong> | NASDAQGS | WE | Anchorage | AK | $ | 3,415 | | 21 | | Dec | 11/6/90 | $ | 27.08 | $ | 602 | | NWBI | Northwest Bancshares, Inc. | NASDAQGS | MW | Columbus | OH | $ | 17,207 | | 161 | | Dec | 11/4/94 | $ | 16.01 …
    Hometown Financial Group, Inc./MDNorthrim Bancorp Inc·EX-99.3 - S-1 - Registration statement (general form)·Q3 26·10 Sep
  • … 55 | | 9.61 | | 65.40 | | 61.25 | | 943.40 | | 174,574,300 | | NPB | Northpointe Bancshares, Inc. | MW | | 17.85 | | 34,582 | | 617.3 | | 19.48 | | 12.91 | | 18.33 | | -2.62 | | 37.20 | | 6.38 | | 2.22 | | 2.23 | | 16.38 | | 16.34 | | 213.87 | | 7,395,877 | | NRIM | <strong>Northrim BanCorp, Inc.</strong> | WE | | 25.21 | | 22,245 | | 560.8 | | 30.82 | | 19.60 | | 25.52 | | -1.21 | | 15.38 | | -5.26 | | 2.88 | | 2.45 | | 15.10 | | 12.71 | | 150.82 | | 3,354,908 | …
    Columbia Financial, Inc./MD/Northrim Bancorp Inc·EX-99.2 - POS AM - Post-effective amendment (unspecified)·Q3 26·1 Jul
  • … 4,300 | | NPB | Northpointe Bancshares, Inc. | MW | | 19.18 | | 34,582 | | 663.3 | | 19.48 | | 13.54 | | 18.16 | | 5.62 | | 39.90 | | 14.30 | | 2.22 | | 2.23 | | 16.38 | | 16.34 | | 213.87 | | 7,395,877 | | NRIM | <strong>Northrim BanCorp, Inc.</strong> | WE | | 27.74 | | 22,245 | | 617.1 | | 30.82 | | 19.60 | | 26.09 | | 6.32 | | 18.98 | | 4.25 | | 2.88 | | 2.45 | | 15.10 | | 12.71 | | 150.82 | | 3,354,908 | | NWBI | Northwest Bancshares, Inc. | MW | | 15.16 | | …
    Columbia Financial, Inc./MD/Northrim Bancorp Inc·EX-99.3 - POS AM - Post-effective amendment (unspecified)·Q3 26·1 Jul

Key Stats

Trading

Px/Chg 1D$24.76 / +0.90%
Avg Volume148.25K
Beta0.46
Mkt Cap550.78M
FD Mkt Cap568.13M

Float

Shrs Out/Float22.24M / 21.59M
Short Float0.02%
Days to Cover1.72
Stock Repurchased$0.00

Current Valuation

EV611.26M
EV/EBITDA6.73
EV/Sales2.48
P/B1.64
P/S2.23
FCF Yield4.42%
ROE4.07%
ROA0.41%
Current Ratio46.93

Dividend

Cash$0.16
Yield2.59%
Yield (TTM)2.59%

Estimates

P/E8.48
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24Apr '25Apr '26Oct '26
PRICE-BASED RATIOS
Price / Earnings22.656.8311.0011.5843.5740.28
Price / Sales4.691.561.762.188.709.22
Price / Book Value1.410.961.191.601.661.64
Price / Free Cash Flow1.002.838.57-45.8116.7722.64
ENTERPRISE VALUE METRICS
Enterprise Value336.1-15.0193.9406.3483.8611.3
Enterprise Value / Sales4.24-0.111.222.077.7610.23
Enterprise Value / EBITDA14.02-0.365.558.0324.3832.49
Enterprise Value / EBIT14.99-0.396.148.6426.5334.04

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue15.4%136.9134.4158.3196.0242.5
Gross Income9.5%137.2127.3125.8151.9197.5
EBITDA14.1%52.541.734.950.688.8
EBIT15.7%48.038.531.647.086.1
Net Income14.6%37.530.725.437.064.6
EPS (Diluted)17.6%1.501.321.121.662.87
BALANCE SHEET
Cash & ST Inv-24.7%1,072.5936.4756.5541.4343.9
Total Assets4.8%2,724.72,674.32,807.53,041.93,290.3
Total Liabilities4.5%2,486.92,455.72,572.82,774.82,963.7
Total Shareholder Equity8.2%237.8218.6234.7267.1326.5
CASH FLOW
Net Operating Cash Flow5.6%112.078.138.9-8.7139.3
Cap Ex21.5%-2.5-3.8-6.2-0.6-5.5
Free Cash Flow5.2%109.574.332.6-9.3133.9

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)23.91
Basic Shares22.24
Market Cap531.9
Diluted Shares22.58
Fully Diluted Shares Outstanding22.58
Fully Diluted Market Cap539.8
+Consolidated Debt-
−In-the-Money Convertible Debt—
+Capital Leases-
+Operating Leases—
−Cash & Equivalents-38.9
−Short-term Investments-432.8
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest-
+Pension Liabilities—
Enterprise Value493.0

Segment data

Revenue

by Products and services

  • Credit And Debit Card61%
  • Deposit Account39%

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