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Last $24.68 USD
Change Today +0.19 / 0.78%
Volume 13.1K
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

northrim bancorp inc (NRIM) Snapshot

Open
$24.55
Previous Close
$24.49
Day High
$24.70
Day Low
$24.45
52 Week High
11/7/14 - $29.13
52 Week Low
01/30/15 - $20.71
Market Cap
169.2M
Average Volume 10 Days
22.0K
EPS TTM
$2.59
Shares Outstanding
6.9M
EX-Date
03/10/15
P/E TM
9.5x
Dividend
$0.72
Dividend Yield
2.88%
Current Stock Chart for NORTHRIM BANCORP INC (NRIM)

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northrim bancorp inc (NRIM) Details

Northrim BanCorp, Inc. operates as bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals primarily in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, such as noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificate of deposit (CD), and indexed CD. The company also provides family residential mortgages; commercial loans, such as secured and unsecured loans for working capital and expansion; commercial real estate loans; construction loans for commercial real estate projects, and land development and residential subdivision construction loans; and consumer loans comprising loans for automobiles, recreational vehicles, boats, and other consumer purchases, as well as home equity lines. In addition, it offers other services, including online banking, mobile app and mobile deposit, mobile Web and text banking, business online banking, online statements, consumer and business debit cards, cash back rewards, personalized checks at account opening, telebanking, automated teller, overdraft protection from a savings account, commercial drive-up banking with coin, automatic transfers and payments, wire transfers, direct payroll deposit, electronic tax payments, automated clearing house origination and receipt, remote deposit capture, cash management, and courier agency services, as well as insurance brokerage services. As of March 30, 2015, the company had 14 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, and Sitka. Northrim BanCorp, Inc. was founded in 1990 and is headquartered in Anchorage, Alaska.

426 Employees
Last Reported Date: 03/13/15
Founded in 1990

northrim bancorp inc (NRIM) Top Compensated Officers

Chief Executive Officer, President, Chief Exe...
Total Annual Compensation: $271.5K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $142.1K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $259.8K
Executive Vice President of Corporate Develop...
Total Annual Compensation: $241.5K
Administrative Senior Vice President and Seni...
Total Annual Compensation: $174.3K
Compensation as of Fiscal Year 2014.

northrim bancorp inc (NRIM) Key Developments

Northrim BanCorp, Inc. Declares Regular Quarterly Cash Dividend, Payable on March 20, 2015

Northrim BanCorp Inc. announced that the board of directors declared its regular quarterly cash dividend of $0.18 per share. The dividend will be paid March 20, 2015, to shareholders of record as of the close of business on March 12, 2015.

Northrim Bancorp Inc. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-05-2015 08:00 AM

Northrim Bancorp Inc. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-05-2015 08:00 AM. Venue: Palace Hotel, San Francisco, California, United States. Speakers: Joseph M. Beedle, Chief Executive Officer, President, Director, Chief Executive Officer of Northrim Bank and President of Northrim Bank.

Northrim Bancorp, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Announces Net Loan Charge-Offs for the Fourth Quarter Ended December 31, 2014

Northrim BanCorp Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the fourth quarter of 2014, net income was $6.7 million, or $0.97 per diluted share, compared to $3.7 million, or $0.53 per diluted share, in the third quarter of 2014 and $2.7 million, or $0.40 per diluted share, in the fourth quarter a year ago. Net income, excluding gains and expenses from the acquisitions of Alaska Pacific and Residential Mortgage, expanded 39% in the fourth quarter of 2014 compared to the fourth quarter of 2013, and 23% for the full year in 2014. Total revenues, which include net interest income plus other operating income, increased 25% in the quarter and 63% as compared to the fourth quarter of 2013. Fourth quarter 2014 revenues were $23.3 million compared to $14.3 million in the fourth quarter of 2013. Excluding the gains from the acquisition of Residential Mortgage in the fourth quarter of 2014 and the sale of the branch in the third quarter of 2014, total revenues were $20.3 million in the fourth quarter of 2014. Net interest income grew 6% to $14.5 million in the fourth quarter of 2014, compared to $13.7 million in the third quarter of 2014 and increased 26% from $11.5 million in the fourth quarter a year ago. Total interest income was $15.18 million, compared to $12.02 million a year ago. Income before provision for income taxes was $8.795 million, compared to $3.621 million a year ago. Return on average assets was 1.84%, compared to 0.89% a year ago. Return on average equity was 16.40%, compared to 7.36% a year ago. The company reported that performance of its core operations, augmented by two acquisitions during the year, generated increased profitability in 2014. Net profits in the full year of 2014 totaled $17.4 million, or $2.54 per diluted share, compared to $12.3 million, or $1.87 per diluted share, in 2013. Contributions from the second quarter acquisition of Alaska Pacific Bancshares Inc. and the fourth quarter acquisition of Residential Mortgage Holding Company, LLC increased revenues and operating costs in 2014. For the full year, revenues increased 29% to $73.4 million from $56.9 million. Excluding the gains from the acquisition of Residential Mortgage in the fourth quarter of 2014 and the sale of the branch in the third quarter of 2014, total revenues were $69.3 million for the full year 2014. Tangible book value was $20.48 per share at December 31, 2014, compared to $22.08 at September 30, 2014 and $20.86 per share a year ago, reflecting an increase in intangible assets attributable to the two major acquisitions completed in the year. Net interest income was $52.905 million, compared to $44.034 million a year ago. Total interest income was $54.96 million, compared to $46.07 million a year ago. Book value per share was $23.99 at December 31, 2014, compared to $22.07 at December 31, 2013. Income before provision for income taxes was $24.703 million, compared to $17.689 million a year ago. Return on average assets was 1.30%, compared to 1.07% a year ago. Return on average equity was 11.19%, compared to 8.75% a year ago. Net loan charge-offs for the fourth quarter were $20,000 compared to $246,000 for the fourth quarter a year ago.

 

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Industry Analysis

NRIM

Industry Average

Valuation NRIM Industry Range
Price/Earnings 9.7x
Price/Sales 2.4x
Price/Book 1.0x
Price/Cash Flow 9.7x
TEV/Sales 0.4x
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