secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2021-07-26T23:59:59+00:00
Accession:  0001163370-21-000024
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northrim Q2 net income $8.35M ($1.33/dil) down from Q1 and year ago; NIM contracts
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- Net income $8.35M ($1.33 diluted EPS) vs $12.18M ($1.94) in Q1 2021 and $9.9M ($1.52) in Q2 2020.
- Net interest margin (tax-equivalent) 3.50%, down 42 bps QoQ and 52 bps YoY.
- Total revenue $33.3M; Home Mortgage Lending contributed 36% of revenue and 37% of earnings.
- Originated $33M in PPP loans in Q2; total $612.6M over 15 months, largest Alaska PPP originator.
- Provision for credit losses recorded a $427K benefit, down from $1.5M benefit in Q1 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337021000024/0001163370-21-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337021000024/nrim-20210726.htm
  HTML page:      https://secwatch.observer/filing/0001163370-21-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer