NORTHRIM BANCORP INC NRIM
In this document, please note that references to "we", "our", "us", or the "Company" mean Northrim BanCorp, Inc. and its subsidiaries, unless the context suggests otherwise.
We are a publicly traded bank holding company headquartered in Anchorage, Alaska. The Company's common stock trades on the Nasdaq Global Select Stock Market ("NASDAQ") under the symbol, "NRIM." The Company is regulated by the Board of Governors of the Federal Reserve System, (the "FRB"). We began banking operations in Anchorage in December 1990, and formed the Company as an Alaska corporation in connection with our reorganization into a holding company structure; that reorganization was completed effective December 31, 2001. The Company has grown to be the third largest commercial bank in Alaska in terms of deposits, with $2.8 billion in total deposits and $3.3 billion in total assets at December 31, 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $255.6M | $196.0M | $158.3M | $134.4M | $84.6M | $76.7M | $70.1M | $64.2M | $60.1M | $6.3M |
| Gross profit | $208.9M | $151.9M | $125.8M | $127.3M | — | — | — | — | — | — |
| Interest expense | $135.6M | $113.2M | $103.3M | $95.1M | $3.8M | $6.1M | $5.6M | $3.0M | $2.4M | $2.6M |
| Pre-tax income | $84.5M | $47.0M | $31.6M | $38.5M | $48.0M | $42.4M | $26.1M | $24.1M | $23.8M | $21.0M |
| Income tax | $19.9M | $10.0M | $6.2M | $7.8M | $10.5M | $9.6M | $5.4M | $4.1M | $10.3M | $6.1M |
| Net income | $64.6M | $37.0M | $25.4M | $30.7M | $37.5M | $32.9M | $20.7M | $20.0M | $13.2M | $14.4M |
| EPS, basic | 2.92 | 1.68 | 1.13 | 5.33 | 6.07 | 5.18 | 3.08 | 2.91 | 1.91 | 2.09 |
| EPS, diluted | 2.87 | 1.66 | 1.12 | 5.27 | 6.00 | 5.11 | 3.04 | 2.86 | 1.88 | 2.06 |
| Shares, diluted (wtd. avg.) | $22.5M | $22.3M | $22.6M | $5.8M | $6.2M | $6.4M | $6.8M | $7.0M | $7.0M | $7.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $145.9M | $62.7M | $118.5M | $259.4M | $645.8M | $116.0M | $95.4M | $77.5M | $77.8M | $50.6M |
| Property, plant and equipment | $39.7M | $37.8M | $40.7M | $37.8M | $37.2M | $38.1M | $38.4M | $39.1M | $37.9M | $39.3M |
| Goodwill | $49.9M | $50.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M |
| Other intangibles | $950.0K | $950.0K | $950.0K | $967.0K | $992.0K | $1.0M | $1.1M | $1.1M | $1.2M | $1.3M |
| Total assets | $3.29B | $3.04B | $2.81B | $2.67B | $2.72B | $2.12B | $1.64B | $1.50B | $1.52B | $1.53B |
| Long-term debt | $12.8M | $23.0M | $13.7M | $14.1M | $14.5M | $14.8M | $8.9M | $41.5M | $35.1M | $31.9M |
| Total liabilities | $2.96B | $2.77B | $2.57B | $2.46B | $2.49B | $1.90B | $1.44B | $1.30B | $1.33B | $1.34B |
| Retained earnings | $309.6M | $259.3M | $236.0M | $224.2M | $204.0M | $173.5M | $149.6M | $137.5M | $124.4M | $117.1M |
| Total equity | $326.5M | $267.1M | $234.7M | $218.6M | $237.8M | $221.6M | $207.1M | $205.9M | $192.8M | $186.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $139.3M | -$8.7M | $38.8M | $78.1M | $112.0M | -$36.5M | -$821.0K | $25.1M | $19.3M | $20.1M |
| Depreciation and amortisation | $3.5M | $3.6M | $3.3M | $3.1M | $3.3M | $3.1M | $3.0M | $2.3M | $3.0M | — |
| Stock-based compensation | $1.7M | $913.0K | $937.0K | $742.0K | $1.1M | $943.0K | $832.0K | $816.0K | $665.0K | $778.0K |
| Capital expenditure | $5.5M | $620.0K | $6.2M | $3.8M | $2.3M | $2.8M | $2.3M | $3.5M | $1.6M | $3.3M |
| Investing cash flow | -$223.4M | -$197.6M | -$254.9M | -$405.6M | -$159.1M | -$382.8M | -$71.9M | $5.6M | $30.4M | -$47.5M |
| Financing cash flow | $167.3M | $150.6M | $75.3M | -$59.0M | $577.0M | $439.8M | $90.6M | -$31.1M | -$22.4M | $19.3M |
| Dividends paid | $14.5M | $13.8M | $13.6M | $10.6M | $9.4M | $8.8M | $8.5M | $7.1M | $6.0M | $5.4M |
| Buybacks | $0 | $789.0K | $9.0M | $14.2M | $11.5M | $10.0M | $12.6M | $494.0K | $1.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001163370-26-000012.
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