---
schema_version: "secwatch.filing_event.v1"
accession: "0001163370-24-000024"
form_type: "8-K"
ticker: "NRIM"
cik: "0001163370"
company_name: "NORTHRIM BANCORP INC"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:22:20.576626+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Northrim BanCorp Q1 2024 net income $8.2M ($1.48 EPS) up 71% YoY; CEO succession complete

## Summary
- Net income $8.2M ($1.48 diluted EPS) vs $6.6M ($1.19) in Q4 2023 and $4.8M ($0.84) in Q1 2023.
- Net interest income $26.4M, stable sequentially; net interest margin (tax-equivalent) 4.22%.
- Portfolio loans $1.81B (+18% YoY); total deposits $2.43B (+6% YoY).
- Schierhorn resigned as CEO/President (remains Chairman); Huston appointed President, CEO, COO effective April 6.
- Dividend increased 2% to $0.61 per share from $0.60 in prior quarters.

## SEC filing metadata
- accession: 0001163370-24-000024
- form_type: 8-K
- ticker: NRIM
- cik: 0001163370
- company_name: NORTHRIM BANCORP INC
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163370/000116337024000024/0001163370-24-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163370/000116337024000024/nrim-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163370-24-000024
- JSON: https://secwatch.observer/filing/0001163370-24-000024.json
- Plain text: https://secwatch.observer/filing/0001163370-24-000024.txt

## Key facts
- Earnings Releases
  NORTHRIM BANCORP INC reported first quarter ended March 31, 2024 results: net income $8.2 million, EPS $1.48 per diluted share.
  - Period: first quarter ended March 31, 2024
  - Net income: $8.2 million
  - EPS: $1.48 per diluted share
  - Result: reported results
  source text: Northrim BanCorp Earns $8.2 Million, or $1.48 Per Diluted Share, in First Quarter 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163370/000116337024000024/0001163370-24-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.