Earnings ·
Northrim reports Q3 net income of $14.4M, or $0.63 per diluted share
NRIMNorthrim Bancorp Inc
Northrim BanCorp reported third-quarter 2026 net income of $14.4 million, or $0.63 per diluted share, compared to $15.3 million in the prior quarter and $27.1 million a year ago. Earnings were pressured by an $8.8 million impairment charge on a single $20.0 million Specialty Finance credit, reducing after-tax earnings by approximately $6.7 million or $0.29 per diluted share. Net interest income rose 5% to $38.9 million, driven by record net interest income and strong deposit growth. The company also provided an update on its proposed all-stock acquisition of PBCO Financial Corporation, which is expected to close in the first quarter of 2027. Northrim BanCorp operates as a community bank holding company based in Alaska.