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NRIM

Northrim BanCorp, Inc.

NRIM

Northrim BanCorp, Inc. • NASDAQ
$24.56 ▼ -1.96% (-0.49)
Market Cap $542.55 M
52w High $25.55
52w Low $16.18
Dividend Yield 0.64%
P/E 8.77
Volume 62.09K
Outstanding Shares 22.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $63.006M ▲ $16.089M ▼ $27.065M ▲ 42.956% ▲ $1.23 ▲ $35.449M ▲
Q2-2025 $61.439M ▲ $32.488M ▲ $11.778M ▼ 19.17% ▼ $0.53 ▼ $16.653M ▼
Q1-2025 $55.761M ▲ $29.331M ▼ $13.324M ▲ 23.895% ▲ $0.603 ▲ $18.47M ▲
Q4-2024 $54.819M ▲ $29.377M ▲ $10.927M ▲ 19.933% ▲ $0.497 ▲ $13.683M ▲
Q3-2024 $51.003M $26.728M $8.825M 17.303% $0.4 $13.046M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $631.87M ▲ $3.312B ▲ $2.997B ▲ $315.663M ▲
Q2-2025 $570.704M ▲ $3.244B ▲ $2.954B ▲ $290.219M ▲
Q1-2025 $528.619M ▼ $3.141B ▲ $2.861B ▲ $279.756M ▲
Q4-2024 $541.353M ▼ $3.042B ▲ $2.775B ▲ $267.116M ▲
Q3-2024 $648.086M $2.963B $2.703B $260.05M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $27.065M ▲ $92.671M ▲ $-64.911M ▼ $43.649M ▼ $71.409M ▼ $89.946M ▲
Q2-2025 $11.778M ▼ $-4.416M ▼ $2.629M ▲ $77.547M ▼ $75.76M ▲ $-4.732M ▼
Q1-2025 $13.324M ▲ $16.54M ▼ $-98.098M ▼ $84.345M ▲ $2.787M ▲ $16.332M ▼
Q4-2024 $10.927M ▲ $35.518M ▲ $-96.933M ▼ $21.275M ▼ $-40.14M ▼ $36.542M ▲
Q3-2024 $8.825M $-201K $-79.088M $127.743M $48.454M $-330K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Credit and Debit Card
Credit and Debit Card
 $0 ▲$0 ▲$0 ▲$0 ▲
Deposit Account
Deposit Account
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Earnings have generally moved in the right direction over the past five years. Revenue has grown steadily, and profit levels have held up reasonably well, even with some year‑to‑year bumps. Margins look solid for a regional bank, suggesting the company is managing its lending spreads and costs with discipline. The dip in profitability in the recent past appears to have been temporary, with the latest year showing a recovery in earnings per share to above earlier levels. Overall, the income statement points to a bank that is growing at a measured pace and maintaining decent profitability rather than chasing rapid, high‑risk expansion.

Balance Sheet

Balance Sheet The balance sheet shows a gradual build in total assets and shareholder equity, which is what you want to see from a conservative bank. Debt levels are low relative to the size of the business, suggesting a cautious funding strategy and a comfortable capital position. Cash balances have moved around quite a bit, with a large peak a few years ago and a much smaller cash cushion more recently, likely reflecting shifting funding and investment choices rather than stress. Overall, the picture is of a moderately growing, reasonably well‑capitalized regional bank with a traditional, balance‑sheet‑driven model.

Cash Flow

Cash Flow Cash generation has been uneven. In some years, the bank produced healthy cash from operations and strong free cash flow; in others, especially the most recent year, operating cash was slightly negative. Since banks’ cash flow statements can be noisy due to loan growth and deposit swings, this volatility doesn’t automatically signal a problem, but it does mean investors need to look beyond simple cash flow trends. Capital spending has been light, which fits with a service‑oriented, largely branch‑ and technology‑based business. In short, cash flow has been lumpy but generally supportive of the company’s slow‑and‑steady growth pattern.

Competitive Edge

Competitive Edge Northrim’s edge comes from its deep roots in Alaska and its focus on being the local expert rather than a national player. Its intimate understanding of the Alaskan economy, industries, and customers is hard for larger out‑of‑state banks to replicate. The bank leans into this with a strong relationship‑banking approach, a “customer first” culture, and specialized services for local businesses, including treasury management, fraud protection tools, and niche lending solutions. Subsidiaries in specialty finance and mortgages broaden the offering. The main trade‑off is geographic concentration: strong local moat, but higher exposure to the health of Alaska’s economy.

Innovation and R&D

Innovation and R&D While Northrim is not a classic R&D‑heavy company, it has invested meaningfully in its technology backbone and customer‑facing tools. A major core system upgrade and integration of dozens of business systems give it a more modern platform to roll out new services. On the business side, automation in payables and receivables, advanced fraud controls, and integrated treasury tools are notable differentiators for a bank of its size. On the consumer side, standard digital features like mobile banking and online account opening keep it competitive. Future innovation likely centers on enhancing digital experiences and expanding analytics and automation rather than radical new products.

Summary

Northrim BanCorp looks like a disciplined, regionally focused bank that has grown steadily while keeping profitability and capital strength in a reasonable range. Its financials reflect cautious expansion and decent earnings, with some normal volatility in cash flows. The real story is its niche: an “Alaska‑first” strategy, close ties to local businesses and communities, and a strong emphasis on service and specialized treasury solutions. Technology investments appear practical and focused on making banking easier and safer rather than chasing cutting‑edge experimentation. The key opportunity is to keep deepening this niche; the key risk is the bank’s dependence on the economic health and cycles of a single, specialized region.

NEWS

November 26, 2025 · 4:15 PM UTC

Northrim BanCorp, Inc. Announces Completion of $60.0 Million Subordinated Notes Offering

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November 13, 2025 · 10:12 AM UTC

KBRA Assigns Ratings to Northrim BanCorp, Inc.

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