Northrim BanCorp Q2 net income $5.6M, EPS $0.98, up from $0.84 Q1 and $0.83 YoY

NORTHRIM BANCORP INC

2023-Q2 EPS reported $1.82

Net income of $5.6M ($0.98 diluted EPS) vs $4.8M ($0.84) in Q1 2023 and $4.8M ($0.83) in Q2 2022.
Net interest income rose 13% YoY to $25.1M; NIMTE 4.21%, down 9bp QoQ but up 51bp YoY.
Portfolio loans $1.66B, up 8% QoQ and 18% YoY; 74% variable rate.
Dividend held at $0.60/sh (unchanged QoQ, +48% YoY); cost of interest-bearing deposits rose to 1.56%.
CEO cites solid loan growth, expects NIM stabilization as lower-yielding assets reprice.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTHRIM BANCORP INC reported the second quarter of 2023 results: net income $5.6 million, EPS $0.98 per diluted share.

Period: the second quarter of 2023
Net income: $5.6 million
EPS: $0.98 per diluted share
Result: reported results

Exact text from the filing

Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $5.6 million, or $0.98 per diluted share, in the second quarter of 2023, compared to $4.8 million, or $0.84 per diluted share, in the first quarter of 2023, and $4.8 million, or $0.83 per diluted share, in the second quarter a year ago.

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Source: SEC EDGAR

accession 0001163370-23-000041

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