Quarterly ResultApr 22, 2026, 04:16 PM
Northrim BanCorp Q1 2026 Net Income Rises to $13.7M, EPS $0.61
AI Summary
Northrim BanCorp, Inc. reported strong first-quarter 2026 results, with net income rising to $13.7 million, or $0.61 per diluted share, compared to $12.4 million, or $0.55 per diluted share, in the prior quarter. The increase in profitability was driven by higher net interest income and mortgage banking income, despite increased operating expenses and provision for credit losses. The company saw significant year-over-year growth in net interest income, portfolio loans, and total deposits, reflecting consistent execution of its strategy and investments in growth.
Key Highlights
- Net income rose to $13.7 million in Q1 2026, up from $12.4 million in Q4 2025.
- Diluted EPS increased to $0.61 in Q1 2026, compared to $0.55 in Q4 2025.
- Net interest income grew 11% year-over-year to $34.7 million in Q1 2026.
- Portfolio loans increased 11% year-over-year to $2.36 billion at March 31, 2026.
- Total deposits rose 3% year-over-year to $2.87 billion at March 31, 2026.