Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.64 per Share

Rhea-AI Summary

Northrim BanCorp (NASDAQ: NRIM) has declared a quarterly cash dividend of $0.64 per share, payable on June 13, 2025, to shareholders of record as of June 5, 2025. Based on the stock price of $87.35 as of May 22, 2025, this represents an annualized yield of 2.93%.

The company also reported strong financial performance with Q1 2025 net income of $13.3 million ($2.38 per diluted share), showing significant improvement from both Q4 2024 ($10.9 million) and Q1 2024 ($8.2 million).

Positive

• Net income increased 62% year-over-year to $13.3 million in Q1 2025
• Earnings per share grew to $2.38 in Q1 2025, up from $1.48 in Q1 2024
• Sequential quarterly growth with net income rising from $10.9M in Q4 2024 to $13.3M in Q1 2025
• Maintained stable dividend of $0.64 per share with attractive 2.93% annualized yield

Negative

• None.

ANCHORAGE, Alaska, May 23, 2025 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.64 per share. The dividend will be payable on June 13, 2025, to shareholders of record at the close of business on June 5, 2025.

“We are pleased to announce a quarterly dividend of $0.64 per share, as we continue to provide returns to our shareholders,” said Mike Huston, President and CEO. At the stock price of $87.35 per share at the close of the market on May 22, 2025, the current dividend equates to a yield of 2.93% on an annualized basis.

On April 23, 2025, Northrim reported net income of $13.3 million, or $2.38 per diluted share, in the first quarter of 2025, compared to $10.9 million, or $1.95 per diluted share, in the fourth quarter of 2024, and $8.2 million, or $1.48 per diluted share, in the first quarter a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the holding company of Northrim Bank, an Alaska-based community bank with 20 branches throughout the state and differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. The bank has two wholly-owned subsidiaries, Sallyport Commercial Finance, LLC, a specialty finance company and Residential Mortgage Holding Company, LLC, a regional home mortgage company. Pacific Wealth Advisors, LLC is an affiliated company.

www.northrim.com

Contact:	Mike Huston, President, CEO, and COO
	(907) 261-8750
	Jed Ballard, Chief Financial Officer
	(907) 261-3539

FAQ

What is Northrim BanCorp's (NRIM) current dividend amount and yield?

Northrim BanCorp's quarterly dividend is $0.64 per share, representing a 2.93% annualized yield based on the May 22, 2025 stock price of $87.35.

When is NRIM's next dividend payment date?

The dividend will be paid on June 13, 2025, to shareholders of record as of June 5, 2025.

How did Northrim BanCorp perform in Q1 2025?

Northrim reported Q1 2025 net income of $13.3 million ($2.38 per diluted share), up from $10.9 million in Q4 2024 and $8.2 million in Q1 2024.

What was NRIM's earnings per share (EPS) growth year-over-year?

NRIM's earnings per diluted share grew from $1.48 in Q1 2024 to $2.38 in Q1 2025, representing a 61% increase.