NRIM earnings analysis
What we found in NRIM's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Surpasses Estimates
- Diluted EPS for Q1 2026 was $0.61, exceeding estimates of $0.53, marking a 1.67% year-over-year increase.
- Revenue Trends
- Total revenue decreased to $34.7 million from $56 million the previous quarter, reflecting a 38% decline quarter-over-quarter.
- Increased Loan Portfolio
- Portfolio loans grew 11% year-over-year to $2.36 billion as of March 31, 2026.
- Rising Nonperforming Assets
- Nonperforming assets increased to $15.3 million, up from $11.4 million at December 31, 2025.
- Strong Net Interest Margin
- Net interest margin improved to 4.72%, up 17 basis points from Q1 2025.
- Cash Flow Generation
- Net cash provided by operating activities was $27.2 million for Q1 2026, driven largely by net income.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- Increasing Nonperforming Loans
- Nonperforming loans have risen by 25% year-over-year to $14.2 million as of March 31, 2026.
- Operational Expense Growth
- Other operating expenses increased by 9% to $30.6 million, influenced by higher personnel costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.61
- Segment
- Community Banking
- Segment
- Home Mortgage Lending
- Segment
- Specialty Finance
What they said about what is next.
Management did not provide explicit numeric guidance for future performance.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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