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 Inc (NRIM) provides Alaska-focused banking services through its Community Banking and Home Mortgage Lending segments. This page serves as the definitive source for NRIM financial updates, offering investors and stakeholders direct access to official announcements.
Find timely updates on quarterly earnings, leadership changes, and regulatory developments alongside insights into NRIM’s community initiatives and lending product enhancements. Our curated collection ensures you stay informed about strategic partnerships, dividend declarations, and operational milestones.
All content is sourced directly from verified company communications, maintaining strict adherence to factual reporting standards. Bookmark this page for streamlined access to NRIM’s latest financial position, market responses, and Alaska banking sector developments.
Northrim BanCorp has announced the retirement of Steve Aldrich, CEO of Residential Mortgage, effective May 5, 2023. Aldrich has been with the company since its inception in 1998, holding various leadership roles over the years. He will continue to serve on the Residential Mortgage Board of Managers post-retirement. Mike Baldwin, who has 37 years of experience in the mortgage industry and has been with Residential Mortgage since 2021, will succeed Aldrich as President, CEO, and COO, effective May 8, 2023. Northrim BanCorp, the parent company of Northrim Bank, operates 19 branches across Alaska and has a dedicated focus on the state's economy.
Northrim BanCorp, Inc. (NASDAQ: NRIM) has declared a quarterly cash dividend of $0.60 per share, scheduled for payment on March 17, 2023. Shareholders of record as of March 9, 2023 will be eligible to receive this dividend, which translates to an annualized yield of 4.57% based on the stock price of $52.47 as of February 23, 2023. The Board's decision highlights the company's ongoing commitment to shareholder returns.
Furthermore, Northrim reported a net income of $8.6 million for Q4 2022, compared to $10.1 million in Q3 2022, with profitability driven by rising interest rates and core loan growth.
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced the appointment of Marilyn F. Romano to its Board of Directors on January 30, 2023. As the Regional Vice President for Alaska Airlines, Romano brings extensive expertise in strategic external relations, corporate giving, and government affairs. Her background includes leadership roles at the Fairbanks Daily News-Miner. Romano is actively involved in several Alaska-based organizations and has received multiple accolades, including the Women of Achievement award from the Alaska YWCA. Her addition to the board is viewed as a significant enhancement to Northrim's leadership.
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced a stock repurchase authorization of 285,000 shares, equating to roughly 5% of its outstanding shares. This decision follows a previous period where no shares were available for repurchase. CFO Jed Ballard emphasized that this program has historically increased shareholder value, with 2,049,927 shares repurchased to date. The repurchase will be conducted in the open market or via private transactions, depending on market conditions and maintaining capital adequacy. Northrim currently has 5.7 million shares outstanding.
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