Quarterly ResultJul 22, 2026, 07:52 PM
Northrim Q2 Net Income $15.3M, EPS $0.68; Net Interest Income +11%
AI Summary
Northrim BanCorp reported strong second-quarter 2026 results with net income of $15.3 million, or $0.68 per diluted share, significantly up from $11.8 million, or $0.52 per diluted share, a year ago. The increase was primarily driven by record net interest income, which rose 11% year-over-year to $37.1 million, and continued loan and deposit growth. The company also expanded its footprint by opening its 21st branch in Palmer, Alaska, and maintained its quarterly dividend at $0.16 per share.
Key Highlights
- Net income increased to $15.3 million ($0.68 diluted EPS) in Q2 2026, up from $11.8 million ($0.52 diluted EPS) in Q2 2025.
- Net interest income rose 11% year-over-year to $37.1 million in Q2 2026.
- Net Interest Margin on a tax equivalent basis (NIMTE) was 5.01%, up 29 basis points from Q2 2025.
- Portfolio loans grew 8% year-over-year to $2.39 billion at June 30, 2026.
- Total deposits increased 4% year-over-year to $2.92 billion at June 30, 2026.
- Opened its 21st branch in Palmer, Alaska, expanding market presence.
- Return on average assets (ROAA) was 1.84% and return on average equity (ROAE) was 17.77% for Q2 2026.
- Dividends per share remained consistent at $0.16.
Price Impact
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