Northrim ( (NRIM) ) has released its Q3 earnings. Here is a breakdown of the information Northrim presented to its investors.
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Northrim BanCorp, Inc. is an Alaska-based community bank with 20 branches across the state, known for its detailed understanding of Alaska’s economy and its ‘Customer First Service’ philosophy. The company also operates two subsidiaries: Sallyport Commercial Finance, LLC, a specialty finance company, and Residential Mortgage Holding Company, LLC, a regional home mortgage company.
In the third quarter of 2025, Northrim BanCorp reported a significant increase in net income, reaching $27.1 million, or $1.20 per diluted share, compared to $11.8 million in the previous quarter and $8.8 million in the same quarter last year. This growth was driven by a $14.2 million gain from asset sales by Pacific Wealth Advisors, increased net interest income, and higher purchased receivable income.
Key financial highlights include a 5% increase in net interest income to $35.3 million, a return on average assets of 3.32%, and a return on average equity of 35.66%. The company’s total deposits rose to $2.91 billion, up 3% from the previous quarter, and portfolio loans increased by 1% to $2.22 billion. Additionally, the company completed a 4-for-1 forward stock split to enhance stock liquidity.
Looking ahead, Northrim BanCorp remains focused on expanding its market share and maintaining strong financial performance. The management is optimistic about the company’s future growth prospects, supported by strategic investments in its people and banking infrastructure.