Welcome to our dedicated page for Northrim Bancorp news (Ticker: NRIM), a resource for investors and traders seeking the latest updates and insights on Northrim Bancorp stock.
Northrim BanCorp reports news on its Alaska-based bank holding company operations, including community banking, home mortgage lending and specialty finance. Updates commonly cover loan and deposit trends, net interest income, mortgage banking income, credit-loss provision activity and purchased receivable income tied to factoring and asset-based lending.
Company announcements also include quarterly cash dividends, capital actions, debt financing and share-structure changes. Northrim Bank operates branches in Alaska, while Northrim Funding Services, Sallyport Commercial Finance and Residential Mortgage support factoring, asset-based lending and regional mortgage activity.
KBRA commented on Northrim BanCorp (NASDAQ: NRIM) entering a definitive all-stock merger agreement to acquire PBCO Financial for approximately $167 million, or 1.73x tangible book value. Closing is expected in 4Q26 or early 1Q27, subject to regulatory and shareholder approvals.
The deal is Northrim’s first out-of-state branch expansion, adding 11 Oregon branches and about $777 million in assets, creating a combined institution with roughly $4.2 billion in assets, $3.0 billion in loans, and $3.5 billion in deposits. According to KBRA, pro forma profitability should be supported by estimated cost saves equal to 24% of PBCO’s noninterest expense, and Northrim projects a pro forma CET1 ratio of 11.3% versus 10.9% at 2Q26.
KBRA highlights Northrim’s extensive loan due diligence, planned $7.5 million credit mark (1.26% of PBCO loans) and $11.9 million interest rate mark (2.0% of loans, accreting over 3.5 years), and the strategic addition of PBCO’s Steelhead Finance alongside Northrim’s Sallyport Commercial Finance. PBCO adds a relationship-based deposit base with 37% noninterest-bearing deposits, supporting an expected pro forma deposit cost of about 1.25%.
Northrim BanCorp (NASDAQ: NRIM) agreed to acquire 100% of PBCO Financial in an all-stock merger of community banks. Each PBCO share will be exchanged for 1.160 Northrim shares, valuing the deal at about $167.3 million, or $32.36 per PBCO share, based on Northrim’s July 21, 2026 closing price of $27.90.
The transaction is expected to qualify as a tax-free reorganization for PBCO shareholders, who are projected to own approximately 21.1% of the combined company at closing. As of June 30, 2026, PBCO held $776.6 million in assets; the combined bank is expected to have roughly $4.2 billion in assets, $3.0 billion in loans, and $3.5 billion in deposits. The merger will mark Northrim’s first out-of-state branch expansion into Southern Oregon and the Willamette Valley, adding 11 branches while maintaining strong, low-cost deposit bases at both institutions.
Northrim BanCorp (NASDAQ: NRIM) reported second quarter 2026 net income of $15.3 million, or $0.68 per diluted share, up from $13.7 million ($0.61) in the prior quarter and $11.8 million ($0.52) a year earlier. According to Northrim, the improvement was primarily driven by higher net interest income.
Net interest income rose to $37.1 million, up 7% sequentially and 11% year-over-year, with tax‑equivalent net interest margin at 5.01%, 24 basis points above the first quarter. Portfolio loans reached $2.39 billion and total deposits $2.92 billion, both higher quarter-over-quarter and year-over-year. The average cost of interest-bearing deposits declined to 1.71%, while ROAA was 1.84% and ROAE 17.77%. Northrim opened its 21st branch in Palmer, Alaska and maintained a quarterly dividend of $0.16 per share. Nonperforming assets increased to $23.0 million, and the provision for credit losses was $1.6 million.
Northrim BanCorp (NASDAQ: NRIM) declared a regular quarterly cash dividend of $0.16 per share. The dividend is payable on June 18, 2026 to shareholders of record on June 11, 2026.
At a $24.74 share price, the annualized yield is 2.59%. Northrim recently reported Q1 2026 net income of $13.7 million, or $0.61 per diluted share.
Northrim BanCorp (NASDAQ:NRIM) reported net income $13.7M or $0.61 diluted EPS for Q1 2026. Portfolio loans reached $2.36B (up 11% YoY) and total deposits were $2.87B. NIMTE was 4.77%. Nonperforming assets rose to $15.3M and the allowance coverage declined to 175%.
Dividends remained $0.16 per share. Results reflected higher net interest income and mortgage banking income, partially offset by increased operating expenses and a provision for credit losses.
Northrim BanCorp (NASDAQ: NRIM) declared a regular quarterly cash dividend of $0.16 per share, payable March 13, 2026, to shareholders of record at the close of business on March 5, 2026. The company noted the dividend equates to an annualized yield of 2.53% based on a closing stock price of $25.25 on January 23, 2026. Northrim reported Q4 2025 net income of $12.4 million, or $0.55 per diluted share, compared with $27.1 million ($1.20 per diluted share) in Q3 2025 and $10.9 million ($0.49 per diluted share) in Q4 2024.
Northrim BanCorp (NASDAQ:NRIM) reported Q4 2025 net income $12.4M ($0.55 diluted) and full-year 2025 net income $64.6M ($2.87 diluted), a 75% increase vs. 2024. 2025 results benefited from higher net interest income, loan growth, purchased receivable income from the Sallyport acquisition, and a Q3 asset-sale gain; results were partially offset by higher operating expenses.
Key metrics: portfolio loans $2.30B (+8% YoY), total deposits $2.81B (+5% YoY, -3% QoQ), Q4 NIMTE 4.75%, and issued $60M subordinated debt to support capital.
Northrim BanCorp (NASDAQ: NRIM) declared a regular quarterly cash dividend of $0.16 per share, payable on December 26, 2025 to shareholders of record at the close of business on December 18, 2025.
At the closing stock price of $25.05 on December 4, 2025, the dividend annualizes to a 2.55% yield. Recent operating results show Q3 2025 net income of $27.1 million ($1.20 per diluted share), up from $11.8 million ($0.52) in Q2 2025 and $8.8 million ($0.39) in Q3 2024.
Northrim BanCorp (NASDAQ: NRIM) completed a private placement of $60.0 million aggregate principal of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035. The Notes pay a fixed 6.875% annual rate for five years, then reset quarterly to three-month SOFR + 348 bps. The Notes are intended to qualify as Tier 2 regulatory capital.
The company intends to use net proceeds for general corporate purposes and to support regulatory capital ratios for growth initiatives. The offering included registration rights to allow exchange for registered subordinated notes. Placement agents were Keefe, Bruyette & Woods and Hovde Group; legal counsel included Hunton Andrews Kurth and Squire Patton Boggs.
Northrim BanCorp (NASDAQ: NRIM) received senior unsecured ratings of BBB (holding company) and BBB+ (bank deposit), with subordinated ratings of BBB-/ BBB and short-term ratings of K3/K2. The Outlook on all long-term ratings is Stable.
KBRA cited strong earnings power (core ROA 1.7% through 9M25), a low-cost core deposit franchise, higher-yielding commercial loans, meaningful noninterest income from the 4Q24 SCF acquisition, and historically low credit costs.
Capital dipped to 9.4% CET1 at 2Q25 then rose to 10.3% CET1 at 3Q25 after a $14.2M pre-tax gain; management targets ~11% CET1 long term.