Quarterly ResultJul 31, 2026, 02:21 PM
NORTHRIM BANCORP Q2 Net Income $15.34M, up 30%; EPS $0.69
AI Summary
NORTHRIM BANCORP reported a strong second quarter for 2026, with net income increasing 30% to $15.34 million and basic earnings per share rising to $0.69. The company also saw growth in its balance sheet, with total assets reaching $3.42 billion and total deposits growing to $2.92 billion. Shareholders approved an amendment to the Stock Incentive Plan, and the company continues to evaluate the impact of several new accounting pronouncements.
Key Highlights
- Net income for Q2 2026 increased 30% to $15.34 million from $11.78 million in Q2 2025.
- Basic earnings per share for Q2 2026 rose to $0.69 from $0.53 in Q2 2025.
- Total assets grew to $3.42 billion at June 30, 2026, up from $3.29 billion at December 31, 2025.
- Total deposits increased to $2.92 billion at June 30, 2026, from $2.81 billion at December 31, 2025.
- Net interest income for Q2 2026 was $37.14 million, an increase from $33.59 million in Q2 2025.
- Shareholders approved an amendment to the 2025 Stock Incentive Plan in May 2026 to include non-employee directors.
- Cash dividend on common stock remained at $0.16 per share for the quarter.
Price Impact
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