secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001163370-22-000024
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northrim BanCorp Q2 net income falls to $4.8M ($0.83 EPS) from $7.2M in Q1; NIM expands to 3.70%
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- Net income $4.8M ($0.83 EPS), down from $7.2M in Q1 2022 and $8.3M in prior-year quarter.
- Net interest income rose 15% QoQ to $22.2M; NIMTE expanded 50 bps to 3.70% on higher yields.
- Mortgage banking income declined to $5.9M from $7.0M QoQ and $11.4M YoY, dampening earnings.
- Repurchased 200,619 shares (3.5% of outstanding) at avg $41.04; dividend maintained at $0.41/share.
- Core portfolio loans (ex-PPP) grew 5% QoQ and 16% YoY to $1.37B; total deposits $2.34B flat QoQ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000024/0001163370-22-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337022000024/nrim-20220728.htm
  HTML page:      https://secwatch.observer/filing/0001163370-22-000024

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