Brief: Northrim BanCorp Q2 EPS USD 2.09

Northrim Bancorp

23/07/2025 21:22

Overview

Northrim Q2 net income rises to $11.8 mln, up from $9.0 mln a year ago

Net interest income grows 24% yr/yr to $33.6 mln, driven by loan growth

Acquisition of Sallyport boosts purchased receivable income

Outlook

Northrim aims to increase market share over the next few years

Result Drivers

NET INTEREST INCOME - Driven by strong loan growth and increasing asset yields, per CEO Mike Huston

PURCHASED RECEIVABLES - Boosted by acquisition of Sallyport Commercial Finance, enhancing income

MORTGAGE BANKING - Increased mortgage activity contributes to higher income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$2.09
Q2 Net Income
$11.80 mln
Q2 Net Interest Income
$33.60 mln
Q2 Net Interest Margin
4.7%
Q2 Operating Expenses
$32.50 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Northrim BanCorp Inc is $104.00, about 6.6% above its July 22 closing price of $97.11

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX6P080K

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)