secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001163370-22-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northrim Q1 2022 net income $7.2M ($1.20 EPS), down from $1.94 a year ago
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- Net income $7.2M ($1.20 diluted EPS) vs $8.1M ($1.31) in Q4 2021 and $12.2M ($1.94) in Q1 2021.
- Dividend raised to $0.41/share, up 7.9% from Q4 2021 and 10.8% from Q1 2021.
- Mortgage banking income fell to $7.0M from $13.6M a year ago; net interest margin contracted 72 bps.
- Core portfolio loans (ex-PPP) grew 1% QoQ to $1.31B; 73% adjustable-rate positioned for rate hikes.
- Repurchased 133,105 shares (2% of outstanding) at avg $44.50 in Q1 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000016/0001163370-22-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000016/nrim-20220428.htm
  HTML page:      https://secwatch.observer/filing/0001163370-22-000016

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