Northrim BanCorp Q3 net income jumps 207%, driven by higher net interest income

Northrim Bancorp

22/10/2025 21:36

Overview

Northrim Q3 net income rises to $27.1 mln, driven by asset sales and higher interest income

Company announces 4-for-1 stock split to enhance stock liquidity and broaden investor access in the qtr

Northrim Q3 net interest income increases 23% yr/yr due to higher earning asset balances

Outlook

Company did not provide specific financial guidance for future quarters in the press release

Result Drivers

ASSET SALE - Gain from sale of assets by Pacific Wealth Advisors contributed $14.2 mln to Q3 net income

NET INTEREST INCOME - Higher earning asset balances and lower cost of funds drove a 23% yr/yr increase in net interest income

PURCHASED RECEIVABLES - Acquisition of Sallyport Commercial Finance boosted purchased receivable income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$1.20
Q3 Net Income
$27.10 mln
Q3 Net Interest Income
$35.30 mln
Q3 Net Interest Margin
4.88%
Q3 Operating Expenses
$30.30 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 $27.00, about 22.3% above its October 21 closing price of $20.99

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

Press Release: ID:nGNX6TdWlP

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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.)