| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 59.78 | 7.2% |
| Total Income | 59.78 | 7.2% |
| Expenditure | 41.82 | 9.5% |
| PBT | 17.96 | 2.2% |
| Net Profit | 13.68 | 2.7% |
| OPM | — | |
| NPM | 22.88% | 1.02pp |
| EPS | 0.62 | 74.3% |
Northrim BanCorp Reports Q1 2026 Net Income of $13.7 Million
23 Apr 2026 · 23 Apr, 2:10 am
Summary
Northrim BanCorp, Inc. reported net income of $13.7 million, or $0.61 per diluted share, for the first quarter of 2026. This compares to $13.3 million, or $0.60 per diluted share, in the first quarter of the previous year. The increase in profitability was primarily due to an increase in net interest income and higher mortgage banking income, partially offset by higher operating expenses and an increase in the provision for credit losses. Dividends per share remained consistent with quarterly dividends in 2025 at $0.16 per share.
Key Highlights
- 1
Northrim BanCorp reported net income of $13.7 million, or $0.61 per diluted share, in the first quarter of 2026.
- 2
Net interest income in the first quarter of 2026 increased 11% to $31.3 million compared to the first quarter of 2025.
- 3
Net interest margin on a tax equivalent basis was 4.77% for the first quarter of 2026, up 16-basis points from the first quarter a year ago.
- 4
Portfolio loans were $2.36 billion at March 31, 2026, up 11% from a year ago.
- 5
Total deposits were $2.87 billion at March 31, 2026, up 3% from $2.78 billion a year ago.
- 6
Non-interest bearing demand deposits increased 11% year-over-year to $826.4 million at March 31, 2026 and represent 29% of total deposits.
Management Comments
Mike Huston
2026 is off to a strong start as another quarter of core loan growth, continued deposit growth and normalized operating expenses reflects Northrim’s ability to consistently execute our strategy. Our investments in people, technology and customer relationships continue to drive profitable growth, strengthen our market position and create long-term value for our shareholders.
Informational and educational content only. Not investment advice.