Northrim BanCorp Reports Q4 Net Income of $12.4 Million, Beats Forecasts

Anchorage, Alaska-based Northrim BanCorp Inc. (NRIM) reported fourth-quarter net income of $12.4 million on Friday. The bank earned 55 cents per share, with adjusted earnings of 54 cents per share. Revenue for the quarter totaled $62.3 million, and net revenue after interest expense reached $51.7 million, exceeding market expectations. For the full year, Northrim reported a profit of $64.6 million, or $2.87 per share, on revenue of $212.8 million. The results reflect steady performance amid ongoing economic challenges in the region. Analysts noted the company’s conservative lending practices as a key factor in its resilience. NRIM shares traded flat following the release of the earnings report.