Quarterly ResultMay 1, 2026, 02:21 PM
Northrim Bancorp Q1 Net Income $13.68M, EPS $0.62; Net Interest Income $34.66M
AI Summary
Northrim Bancorp reported increased net income and earnings per share for the first quarter of 2026. Net income rose to $13.68 million, with basic earnings per share reaching $0.62. The company saw a significant increase in net interest income, while also recording a provision for credit losses compared to a benefit in the prior year. Total assets, deposits, and loans also showed growth.
Key Highlights
- Net income for Q1 2026 was $13,675 thousand, up from $13,324 thousand in Q1 2025.
- Basic earnings per share for Q1 2026 was $0.62, compared to $0.60 in Q1 2025.
- Net interest income increased to $34,661 thousand in Q1 2026 from $31,297 thousand in Q1 2025.
- Provision for credit losses was $960 thousand in Q1 2026, a change from a ($1,409) thousand benefit in Q1 2025.
- Total assets grew to $3,354,908 thousand at March 31, 2026, from $3,290,273 thousand at December 31, 2025.
- Total deposits increased to $2,873,746 thousand at March 31, 2026, from $2,813,029 thousand at December 31, 2025.
- Total loans were $2,358,702 thousand at March 31, 2026, up from $2,295,499 thousand at December 31, 2025.
- Mortgage banking income rose to $6,461 thousand in Q1 2026 from $4,251 thousand in Q1 2025.
Price Impact
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