Northrim Bancorp, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
July 27, 2020 at 04:21 pm EDT
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Northrim BanCorp, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced net interest income was USD 17.457 million compared to USD 15.957 million a year ago. Net income was USD 9.900 million compared to USD 4.261 million a year ago. Basic earnings per share was USD 1.54 compared to USD 0.62 a year ago. Diluted earnings per share was USD 1.52 compared to USD 0.62 a year ago. For the half year, net interest income was USD 33.147 million compared to USD 31.726 million a year ago. Net income was USD 10.933 million compared to USD 8.573 million a year ago. Basic earnings per share was USD 1.7 compared to USD 1.25 a year ago. Diluted earnings per share was USD 1.68 compared to USD 1.24 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. 
