Northrim BanCorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:15 pm EDT
Share
Northrim BanCorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 25.14 million compared to USD 22.21 million a year ago. Net income was USD 5.58 million compared to USD 4.8 million a year ago. Basic earnings per share from continuing operations was USD 0.99 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 0.98 compared to USD 0.83 a year ago.
For the six months, net interest income was USD 50.17 million compared to USD 41.52 million a year ago. Net income was USD 10.41 million compared to USD 12.02 million a year ago. Basic earnings per share from continuing operations was USD 1.84 compared to USD 2.05 a year ago. Diluted earnings per share from continuing operations was USD 1.82 compared to USD 2.03 a year ago.
Northrim BanCorp, Inc. is a bank holding company. The Company is primarily engaged in the delivery of business and personal banking services through its wholly owned banking subsidiary, Northrim Bank (the Bank). It operates through two segments: Community Banking and Home Mortgage Lending. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Home Mortgage Lending segment's principal business focus is the origination and sale of mortgage loans for one-to-four family residential properties. The Bank also engages in retail mortgage origination services through its wholly owned subsidiary, Residential Mortgage Holding Company, LLC. Additionally, the Bank, through its wholly owned subsidiary, Northrim Funding Services (NFS), operates a factoring division in Bellevue, Washington. The Bank has about 19 branches in Anchorage, the Matanuska Valley, Soldotna, Juneau, and others.
NORTHRIM BANCORP, INC. 
