Quarterly ResultJul 23, 2026, 06:07 AM
Northrim BanCorp Q2 Net Income $15.3M, EPS $0.68
AI Summary
Northrim BanCorp, Inc. reported strong financial results for the second quarter of 2026, with net income rising to $15.3 million, or $0.68 per diluted share. This marks an increase from $13.7 million in the prior quarter and $11.8 million a year ago, primarily driven by higher net interest income. The company also expanded its footprint by opening its 21st branch in Palmer, Alaska, and saw continued growth in both loans and deposits.
Key Highlights
- Net income for Q2 2026 was $15.3 million, up from $13.7 million in Q1 2026 and $11.8 million in Q2 2025.
- Diluted earnings per share for Q2 2026 was $0.68, compared to $0.61 in Q1 2026 and $0.52 in Q2 2025.
- Net interest income increased 7% to $37.1 million in Q2 2026 from $34.7 million in Q1 2026.
- Net interest margin on a tax equivalent basis (NIMTE) was 5.01% in Q2 2026, up 24 basis points from Q1 2026.
- Portfolio loans were $2.39 billion at June 30, 2026, up 8% from a year ago.
- Total deposits were $2.92 billion at June 30, 2026, up 4% from a year ago.
- Opened a new branch in Palmer, Alaska, bringing the total to 21 branches.
- Return on average assets (ROAA) was 1.84% and return on average equity (ROAE) was 17.77% for Q2 2026.
Price Impact
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