Northrim BanCorp, Inc. (NRIM)

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Northrim BanCorp, Inc.

NRIM • CIK 0001163370

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest Income (Expense), Net	$103,256	$113,183	$135,609	$142,517
Provision for Loan, Lease, and Other Losses	$3,842	$3,293	$3,910	$5,930
Interest Income (Expense), after Provision for Loan Loss	$99,414	$109,890	$131,699	$136,587
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$31,608	$46,994	$84,519	$89,358
Income Tax Expense (Benefit)	$6,214	$10,023	$19,911	$20,835
Net Income (Loss) Attributable to Parent	$25,394	$36,971	$64,608	$68,523
Weighted Average Number of Shares Outstanding, Basic	5,601,471	5,502,797	22,088,891	38,773,813
Weighted Average Number of Shares Outstanding, Diluted	5,661,460	5,583,983	22,485,351	39,434,415
Interest and Fee Income, Loans and Leases	$108,612	$134,739	$160,146	$164,462
Interest Income, Debt Securities, Available-for-sale, Operating	$15,833	$13,756	$11,482	$11,721
Dividend Income, Equity Securities, Operating	$766	$876	$552	$598
Interest Income, Debt Securities, Held-to-maturity	$1,893	$1,892	$1,869	$1,881
Interest Income, Deposits with Financial Institutions	$4,644	$2,342	$3,743	$4,752
Interest and Dividend Income, Operating	$131,951	$153,919	$178,378	$184,068
Interest Expense, Deposits	$26,511	$39,347	$40,456	$37,991
Interest Expense, Other Long-term Debt	$1,784	$986	$1,508	$619
Interest Expense, Subordinated Notes and Debentures	—	—	$805	$2,941
InterestExpenseOperating	—	$40,736	$42,769	$41,551
Interest and Fee Income, Loans, Consumer	$12,763	$24,002	$25,237	$27,185
Gain (Loss) on Disposition of Business	—	—	$14,486	$14,486
Equity Securities, FV-NI, Unrealized Gain (Loss)	$120	$465	$169	$49
Debt Securities, Realized Gain (Loss)	—	—	$1	$1
Equity Securities, FV-NI, Realized Gain (Loss)	$0	$112	$0	$0
Noninterest Income, Other Operating Income	$2,550	$3,116	$3,843	$2,882
Noninterest Income	$26,375	$42,041	$77,203	$79,139
Labor and Related Expense	$61,741	$67,847	$78,337	$80,550
Information Technology and Data Processing	$9,821	$10,986	$13,125	$13,442
Occupancy, Net	$7,394	$7,609	$7,822	$7,758
Professional Fees	$3,128	$4,351	$4,681	$5,040
Marketing Expense	$2,929	$3,028	$3,728	$3,601
General Insurance Expense	$2,519	$2,961	$3,212	$2,275
Compensation Expense, Excluding Cost of Good and Service Sold	—	—	$2,333	$2,133
Amortization of Intangible Assets	$17	$0	$0	$0
Other Noninterest Expense	$7,426	$8,540	$11,156	$11,471
Noninterest Expense	$94,181	$104,937	$124,383	$126,368
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	60,000	81,000	396,000	396,000
Revenues	—	$195,960	$255,581	$263,207

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Liabilities and Equity	$2,807,497	$3,041,869	$3,290,273	$3,415,386
Cash and Due from Banks	$27,457	$42,101	$36,042	$41,948
Interest-bearing Deposits in Banks and Other Financial Institutions	$91,073	$20,635	$109,864	$130,265
Equity Securities, FV-NI	$13,153	$8,719	$8,392	$11,315
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$637,936	$478,617	$420,661	$411,644
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss	$36,750	$36,750	$26,750	$31,750
Federal Home Loan Bank Stock	$2,980	$5,331	$6,764	$7,187
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$31,974	$59,957	$100,323	$83,272
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$1,789,497	$2,129,263	$2,295,499	$2,386,328
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$17,270	$22,020	$23,737	$25,461
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$1,772,227	$2,107,243	$2,271,762	$2,360,867
Accounts Receivable, after Allowance for Credit Loss	$36,842	$74,078	$101,642	$122,792
Property, Plant and Equipment, Net	$40,693	$37,757	$39,692	$41,486
Operating Lease, Right-of-Use Asset	$9,092	$7,455	$5,911	$11,263
Goodwill	$15,017	$50,018	$49,874	$49,874
Intangible Assets, Net (Excluding Goodwill)	$950	$950	$950	$950
Other Assets	$71,789	$85,819	$84,172	$81,074
Other Borrowings	$13,675	$23,045	$12,805	$12,805
Subordinated Debt	—	—	$68,924	$68,924
Operating Lease, Liability	$9,092	$7,487	$5,941	$11,459
Other Liabilities	$54,647	$53,722	$63,030	$55,951
Liabilities	$2,572,779	$2,774,753	$2,963,729	$3,067,772
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$5,513	$5,518	$5,528	$5,561
Additional Paid in Capital	$9,605	$9,311	$10,822	$10,757
Retained Earnings (Accumulated Deficit)	$236,037	$259,311	$309,575	$331,394
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-16,437	$-7,024	$619	$-98
Stockholders' Equity Attributable to Parent	$234,718	$267,116	$326,544	$347,614
Demand Deposit Accounts	$749,683	$706,225	$721,925	$826,271
Interest-bearing Deposit Liabilities	$927,291	$1,108,404	$1,242,546	$1,281,777
Deposits, Savings Deposits	$255,338	$250,900	$250,006	$246,617
Deposits, Money Market Deposits	$221,492	$196,290	$195,793	$194,665
Deposits	$2,485,055	$2,680,189	$2,813,029	$2,918,788
Preferred Stock, Shares Authorized	2,500,000	2,500,000	2,500,000	2,500,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	10,000,000	10,000,000	40,000,000	40,000,000
Common Stock, Shares, Issued	5,513,459	5,518,210	22,111,637	22,244,766
Commitments, Fair Value Disclosure	$445,879	$494,633	$611,719	$611,719
Income Taxes Receivable	$1,726	$1,984	$1,751	$1,751

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$25,394	$36,971	$64,608	$68,523
Net Cash Provided by (Used in) Operating Activities	$38,925	$-8,727	$139,337	$194,511
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-140,820	$-55,794	$83,170	$30,930
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$118,530	$62,736	$145,906	$235,320
Gain (Loss) on Sale of Investments	$0	$112	$1	$1
Other Depreciation and Amortization	$3,294	$3,610	$3,534	$3,434
Payments for (Proceeds from) Loans Receivable	$16,848	$-10,672	$27,606	$14,296
Amortization of Debt Issuance Costs	—	—	$14	$84
Payments to Acquire Loans Held-for-investment	$287,893	$341,764	$268,474	$270,062
Amortization of Intangible Assets	$17	$0	$0	$0
Proceeds from Sale of Other Real Estate	$1,079	$392	$0	$0
Accretion (Amortization) of Discounts and Premiums, Investments	$-483	$-368	$37	$343
Payments to Acquire Businesses, Net of Cash Acquired	—	$40,658	$-144	$0
Increase (Decrease) in Equity Securities, FV-NI	$120	$465	$169	$49
Payments to Acquire Property, Plant, and Equipment	$6,166	$620	$5,469	$8,419
Increase (Decrease) in Deferred Income Taxes	$-580	$152	$1,506	$-223
Net Cash Provided by (Used in) Investing Activities	$-255,071	$-197,625	$-223,429	$-267,852
Share-based Payment Arrangement, Noncash Expense	$937	$913	$1,734	$1,879
Increase (Decrease) in Loans, Deferred Income	$54	$-631	$-977	$-54
Provision for Loan, Lease, and Other Losses	$3,842	$3,293	$3,910	$5,930
Mortgage Servicing Rights (MSR) Impairment (Recovery)	$2,687	$201	$3,782	$3,164
Gain (Loss) on Sales of Loans, Net	$7,828	$13,994	$16,777	$18,511
Proceeds from Sale of Loans Held-for-sale	$379,546	$595,164	$851,911	$925,719
Payments for Origination of Mortgage Loans Held-for-sale	$376,154	$609,153	$776,032	$780,375
Gains (Losses) on Sales of Other Real Estate	$929	$392	$0	$0
Impairment of Real Estate	—	$0	$0	$0
Equity Method Investment, Realized Gain (Loss) on Disposal	—	—	$14,486	$14,486
Increase (Decrease) in Accrued Interest Receivable, Net	$2,021	$-456	$1,040	$1,936
Increase (Decrease) in Deposits	$97,844	$195,134	$132,840	$109,618
Increase (Decrease) in Other Operating Assets	$-4,344	$13,503	$-23,462	$-15,695
Proceeds from Issuance of Debt	$194,500	$697,553	$562,910	$562,910
Increase (Decrease) in Other Operating Liabilities	$7,185	$-5,539	$-64	$-10,235
Repayments of Debt	$194,920	$728,390	$573,150	$573,150
Proceeds from Issuance of Subordinated Long-term Debt	—	—	$60,000	$60,000
Payments of Debt Issuance Costs	—	—	$1,400	$1,400
Proceeds from Issuance of Common Stock	$555	$801	$609	$1,093
Payments for Repurchase of Common Stock	$9,044	$789	$0	$0
Payments of Dividends	$13,609	$13,751	$14,547	$14,595
Net Cash Provided by (Used in) Financing Activities	$75,326	$150,558	$167,262	$104,271
Income Taxes Paid, Net	$2,032	$6,720	$17,591	$17,518
Interest Paid, Excluding Capitalized Interest, Operating Activities	$28,547	$40,482	$42,555	$41,150
Real Estate Owned, Transfer to Real Estate Owned	$273	$0	$0	$1,224
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$423	$250	$0	$6,325
Dividends Payable	$110	$101	$203	$197
Noncash or Part Noncash Acquisition, Value of Assets Acquired	—	$66,129	$0	$0
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	—	$41,275	$0	$0
Payments to Acquire Debt Securities, Available-for-sale	$26,030	$49,464	$96,439	$199,085
PaymentsToAcquireEquitySecuritiesFvNi	$2,297	$1,964	$0	$3,016
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$82,398	$221,159	$165,367	$220,389
ProceedsFromSaleOfEquitySecuritiesFvNi	$0	$6,973	$481	$481
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities	—	—	$10,000	$20,000

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Import this data to Google Sheets with:

=jivedata("NRIM","financials")

Full statements spill as a table. For one cell: =jivedata("NRIM","Revenue") or =jivedata("NRIM","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.