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.
Northrim BanCorp reported a net income of $9.90 million or $1.52 per diluted share for Q2 2020, up from $1.03 million in Q1 2020 and $4.26 million YOY. For H1 2020, net income reached $10.93 million, compared to $8.57 million during the same period in 2019. The company significantly engaged in the PPP, aiding approx. 2,500 loans worth $353.5 million. Net loans and deposits grew 33% and 24% respectively. However, loan loss provisions increased to $2.5 million amid economic challenges in Alaska.
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced a quarterly cash dividend of $0.34 per share, payable on June 19, 2020, to shareholders of record by June 11, 2020. The dividend yield stands at 5.33% based on the closing stock price of $25.52 on May 28, 2020. The company reported first-quarter earnings of $1.0 million, or $0.16 per diluted share, with growth in loans and deposits but an increased provision for loan losses.
Summary not available.