Northrim BanCorp Inc - NRIM STOCK NEWS

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.

Northrim BanCorp (NASDAQ:NRIM) announced a net income of $8.6 million, or $1.48 per diluted share, for Q4 2022, down from $10.1 million in Q3 2022 and up from $8.1 million year-over-year. The decline was attributed to increased provisions for credit losses due to loan growth and reduced income in the Home Mortgage Lending segment amid declining mortgage originations. Full-year net income fell 18% to $30.7 million from $37.5 million in 2021. Despite challenges, record net interest income was achieved, primarily from increased core loan growth. The bank's strong financial position is underscored by a continued focus on business investments and market share growth.

Northrim BanCorp, Inc. (NASDAQ: NRIM) has declared a quarterly cash dividend of $0.50 per share, payable on December 23, 2022, to shareholders on record by December 15, 2022. This decision reflects the company’s commitment to delivering returns to shareholders, bringing the annualized yield to 3.58% based on the recent stock price of $55.85. Northrim reported a net income of $10.1 million in Q3 2022, marking an increase from previous quarters, attributed to rising interest rates, core loan growth, and increased earning assets.

Northrim BanCorp (NRIM) reported a significant increase in net income for Q3 2022, reaching $10.1 million ($1.76 per diluted share), up from $4.8 million in Q2 2022 and $8.9 million in Q3 2021. This growth was primarily driven by an 18% increase in net interest income to $26.3 million, alongside rising loan yields in a favorable interest rate environment. The company also increased dividends to $0.50 per share and reported a 4% growth in total deposits to $2.44 billion. Overall, key financial metrics, including return on average assets and equity, showed marked improvement.

Northrim BanCorp (NASDAQ: NRIM) declared a regular quarterly cash dividend of $0.50 per share, payable on September 16, 2022, to shareholders of record by September 8, 2022. This dividend yields 4.94% annually based on the stock price of $40.50 on August 25, 2022. The company reported a net income of $4.8 million or $0.83 per diluted share for Q2 2022, down from $7.2 million in Q1 2022 and $8.3 million in Q2 2021. The decrease in income is attributed to various factors including loan growth and rising interest rates.

Northrim BanCorp (NASDAQ:NRIM) reported Q2 2022 net income of $4.8 million ($0.83 per diluted share), down from $7.2 million ($1.20 per share) in Q1 2022 and $8.3 million ($1.33 per share) year-over-year. Key factors for the decline include reduced mortgage banking income and a decrease in marketable equity securities, which impacted net income by $810,000. Despite this, net interest income rose 15% sequentially to $22.2 million, attributed to rising interest rates. The firm repurchased 200,619 shares this quarter and maintained a dividend of $0.41 per share.

Northrim BanCorp announced a quarterly cash dividend of $0.41 per share, payable on June 17, 2022, to shareholders of record on June 9, 2022. This dividend represents an annualized yield of 3.94% based on a stock price of $41.63 at the market close on May 26, 2022.

Additionally, the company reported a net income of $7.2 million for Q1 2022, down from $12.2 million a year earlier, attributed to core loan growth and SBA PPP loan income.