Northrim BanCorp, Inc. (NRIM)

In the third quarter of 2025, Northrim BanCorp reported earnings of $0.72 per diluted share, surpassing estimates, with revenue of $66.59 million also exceeding expectations. Michael G. Huston succeeded Joe Schierhorn as Board Chair on August 22, 2025, the same day the company announced a 4-for-1 stock split. Second-quarter net income for 2025 was $11.8 million, or $2.09 per diluted share, missing estimates, though revenues of $50.23 million surpassed expectations. The stock has recovered from a dip during the 2023 regional banking panic and has increased by approximately 7.7% since the beginning of the year.

While specific details on demand seasonality are limited, Northrim BanCorp's residential mortgage lending is generally tied to economic health, housing demand, and interest rates. The mortgage lending segment has shown robust demand, and the company's diversified loan portfolio suggests a broad base of demand that may fluctuate based on economic cycles and local Alaskan market conditions.

Northrim BanCorp, Inc. (NRIM), established in 1990 and headquartered in Anchorage, Alaska, operates as a publicly traded financial holding company through its subsidiary, Northrim Bank. The company focuses on community banking and personalized customer service, operating in the Financials sector and the Banks - Regional industry. It operates through three segments: Community Banking, Home Mortgage Lending, and Specialty Finance, offering personal banking services like checking and savings accounts and consumer loans, business banking services such as commercial lending and treasury management, mortgage lending services including residential mortgage loans, wealth management services like investment advisory and retirement planning, and specialty finance services through Sallyport Commercial Finance, LLC.

Northrim BanCorp's primary geographic footprint is Alaska, where Northrim Bank operates 20 branches serving approximately 90% of Alaska's population. Through its acquisition of Sallyport Commercial Finance, LLC, the company has expanded its presence in the specialty finance industry across the United States, with some operations also extending to Canada and the United Kingdom.

Northrim BanCorp has a strong brand reputation for its community focus, personalized customer service, and support for local businesses. Its efforts during the COVID-19 pandemic, such as providing PPP loans, have strengthened its standing. The acquisition of Sallyport Commercial Finance, LLC has enhanced its reputation by expanding its product offerings and market reach in the specialty finance sector.

As of December 31, 2024, institutional investors held 88.29% of Northrim BanCorp's shares, with major holders including BlackRock, Inc., Dimensional Fund Advisors LP, and Vanguard Group Inc. Individual insiders own 3.90% of the stock, with Marc Langland being the largest individual shareholder, owning 0.62% of the company.