Northrim BanCorp Q1 net income edges up, loans rise 11%

Northrim Bancorp

22/04/2026 21:25

Overview

Alaska community bank's Q1 net income and adjusted EPS rose slightly from a year ago

Net interest income for Q1 increased 11% yr/yr, driven by higher loan balances and lower deposit costs

Company reported 3% yr/yr deposit growth and 11% yr/yr loan growth

Outlook

Company says it believes its sources of liquidity are sufficient for the foreseeable future

Result Drivers

HIGHER LOAN BALANCES AND LOWER DEPOSIT COSTS - Net interest income rose 11% yr/yr, mainly due to higher loan balances and a favorable change in earning-asset mix, as well as lower deposit costs

MORTGAGE BANKING INCOME - Higher mortgage banking income, including increased production in expansion markets and higher servicing revenue, contributed to profitability

HIGHER OPERATING EXPENSES AND CREDIT LOSS PROVISION - Increased operating expenses, mainly salaries and personnel costs, and a higher provision for credit losses partially offset profit gains

Company press release: ID:nGNX119ZVk

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.61
Q1 Net Income
$13.70 mln
Q1 Net Interest Income
$34.70 mln
Q1 Net Interest Margin
4.77%


Analyst Coverage

The one available analyst rating on the shares is "buy"

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

Wall Street's median 12-month price target for Northrim BanCorp Inc is $31.00, about 28.3% above its April 21 closing price of $24.17

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

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(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.)