NORTHRIM BANCORP INC NRIM

Financials SIC 6035 - Savings Institution, Federally Chartered NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Savings Institutions and Other Depository Credit Intermediation derived Nasdaq

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.

Last close 23.86 2026-10-23
Market cap $530.8M 2026-06-30 share count
52-week range 21.68 - 30.82

Valuation FY2025 figures against the last close

P/S2.1x
P/E8.3x
P/FCF4.0x
EV/EBITDA—
Dividend yield2.7%
Diluted EPS2.87

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Community Banking
  • Home Mortgage Lending
  • Specialty Finance
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Community Banking, FY2025: 183.6M (71.9%) 72% Community Banking Home Mortgage Lending, FY2025: 43.3M (17.0%) 17% Home Mortgage Lending Specialty Finance, FY2025: 28.6M (11.2%) 11% FY2024 Community Banking, FY2024: 147.5M (75.2%) 75% Home Mortgage Lending, FY2024: 40.5M (20.7%) 21% Specialty Finance, FY2024: 8M (4.1%) 4% FY2023 Community Banking, FY2023: 131M (82.7%) 83% Home Mortgage Lending, FY2023: 22.5M (14.2%) 14% Specialty Finance, FY2023: 4.9M (3.1%)
Segment FY2025FY2024FY2023
Community Banking $183.6M $147.5M $131.0M
Home Mortgage Lending $43.3M $40.5M $22.5M
Specialty Finance $28.6M $8.0M $4.9M

As the company reported it, from the “Segment Information - Reconciliation to Consolidated Financial Results (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 2.921.681.135.336.075.183.082.911.912.09
EPS, diluted 2.871.661.125.276.005.113.042.861.882.06
Shares, diluted (wtd. avg.) 22.5M22.3M22.6M5.8M6.2M6.4M6.8M7.0M7.0M7.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M Revenue, FY2016: 6.3M Net income, FY2016: 14.4M Revenue, FY2017: 60.1M Net income, FY2017: 13.2M Revenue, FY2018: 64.2M Net income, FY2018: 20M Revenue, FY2019: 70.1M Net income, FY2019: 20.7M Revenue, FY2020: 76.7M Net income, FY2020: 32.9M Revenue, FY2021: 84.6M Net income, FY2021: 37.5M Revenue, FY2022: 134.4M Gross profit, FY2022: 127.3M Net income, FY2022: 30.7M Revenue, FY2023: 158.3M Gross profit, FY2023: 125.8M Net income, FY2023: 25.4M Revenue, FY2024: 196M Gross profit, FY2024: 151.9M Net income, FY2024: 37M Revenue, FY2025: 255.6M Gross profit, FY2025: 208.9M Net income, FY2025: 64.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.3M $60.1M $64.2M $70.1M $76.7M $84.6M $134.4M $158.3M $196.0M $255.6M
Gross profit — — — — — — $127.3M $125.8M $151.9M $208.9M
Net income $14.4M $13.2M $20.0M $20.7M $32.9M $37.5M $30.7M $25.4M $37.0M $64.6M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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