10-K · March 6, 2026
Northrim completed the Sallyport (SCF) acquisition and grew meaningfully in 2025: total revenue for 2025 was approximately $256.0M (sum of quarterly revenue $56M + $61M + $77M + $62M) and total deposits reached $2.81B…
Earnings analysis · 10-Q
NRIM earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Northrim BanCorp's Q1 2026 results showed strong earnings growth with diluted EPS of $0.61, exceeding expectations, although total revenue of $34.7 million missed estimates. The increase in net income to $13.7 million…
Read full summary
Northrim BanCorp's Q1 2026 results showed strong earnings growth with diluted EPS of $0.61, exceeding expectations, although total revenue of $34.7 million missed estimates. The increase in net income to $13.7 million was primarily driven by higher net interest income and mortgage banking income, despite rising provision for credit losses and operational expenses. The overall balance sheet remains solid with continued loan growth, but the rise in nonperforming assets is a point of concern.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.61
- Segment
- Community Banking
- Segment
- Home Mortgage Lending
- Segment
- Specialty Finance
What stood out
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EPS Surpasses Estimates
Diluted EPS for Q1 2026 was $0.61, exceeding estimates of $0.53, marking a 1.67% year-over-year increase.
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Revenue Trends
Total revenue decreased to $34.7 million from $56 million the previous quarter, reflecting a 38% decline quarter-over-quarter.
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Increased Loan Portfolio
Portfolio loans grew 11% year-over-year to $2.36 billion as of March 31, 2026.
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Rising Nonperforming Assets
Nonperforming assets increased to $15.3 million, up from $11.4 million at December 31, 2025.
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Strong Net Interest Margin
Net interest margin improved to 4.72%, up 17 basis points from Q1 2025.
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Cash Flow Generation
Net cash provided by operating activities was $27.2 million for Q1 2026, driven largely by net income.
What to watch
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Higher Provision for Credit Losses
Provision for credit losses increased to $1.3 million in Q1 2026, compared to a benefit of $1.1 million in Q1 2025.
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Increasing Nonperforming Loans
Nonperforming loans have risen by 25% year-over-year to $14.2 million as of March 31, 2026.
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Operational Expense Growth
Other operating expenses increased by 9% to $30.6 million, influenced by higher personnel costs.
Management's outlook
Management did not provide explicit numeric guidance for future performance.
Earlier filings 4
10-Q · October 27, 2025
Northrim reported a strong Q3 2025 driven by higher net interest income and a large one-time gain from the sale by Pacific Wealth Advisors. Net interest income was $35,346,000 and net income was $27,065,000 (diluted EPS…
10-Q · July 28, 2025
Northrim reported a solid quarter with diluted EPS of $2.09 and core net interest income of $33.592M (Q2 2025). Net interest income and loan balances grew year-over-year, deposits increased, and purchased receivables…
10-Q · April 28, 2025
Northrim reported a strong Q1 2025 quarter with net income of $13.324 million and diluted EPS of $2.38, up from $8.199 million and $1.48 in Q1 2024. Net interest income rose to $31.297 million (from $26.447 million),…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.