Northrim BanCorp Q3 net income $8.9M, EPS $1.42; core loan growth 11% YoY

NORTHRIM BANCORP INC

2021-Q3 EPS reported $4.69

Net income $8.88M ($1.42 diluted EPS) vs $11.86M ($1.84) in Q3 2020; sequential up from $8.35M ($1.33).
Net interest income $20.4M (+6% QoQ, +12% YoY); NIMTE 3.47% down 46 bps YoY.
Core loans (ex-PPP) grew to $1.25B (+11% YoY); total deposits $2.30B (+27% YoY).
PPP funded $612.6M total; no new originations in Q3; $102.4M forgiven in Q3.
Provision benefit $1.1M; nonaccrual loans $11.5M vs $12.0M Q2; repurchased 29,613 shares.

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