secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001163370-23-000041
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337023000041/0001163370-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337023000041/nrim-20230727.htm
  HTML page:      https://secwatch.observer/filing/0001163370-23-000041

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