Northrim BanCorp Q4 EPS $1.95 vs $1.19 YoY; NIMTE expands to 4.47%; assets top $3B

NORTHRIM BANCORP INC

2024-FY EPS reported $6.62 revenue$195,960,000

Net income $10.9M in Q4 2024, up 65% from $6.6M a year ago; diluted EPS $1.95 vs $1.19.
Net interest income up 15% YoY to $30.8M; NIMTE 4.47% (+35bp YoY).
Total assets exceeded $3B for first time; total loans $2.13B (+19% YoY), deposits $2.68B (+8% YoY).
Acquired Sallyport on Oct 31 for approx. $53.9M ($47.9M cash + $6M earn-out).
Quarterly dividend $0.62 per share, unchanged from Q3 but up from $0.60 a year ago.

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