Northrim BanCorp, Inc. Reports Net Loan Charge Offs for the Third Quarter Ended September 30, 2020
October 26, 2020 at 04:15 pm EDT
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Northrim BanCorp, Inc. reported net loan charge offs for the third quarter ended September 30, 2020. For the quarter, the company reported net loan recoveries $463,000 against net loan recoveries of $694,000 in the third quarter of 2019.
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. 
