Download PDF

1. Company Snapshot

1.a. Company Description

Northrim BanCorp, Inc.operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals.It operates in two segments, Community Banking and Home Mortgage Lending.


The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.It also provides short and medium-term commercial loans, commercial credit lines, construction and real estate loans, and consumer loans, as well as short-term working capital.In addition, the company offers other services comprising consumer and business online banking, mobile app, and mobile deposits; and debit and credit cards.


Further, it provides mobile web and text banking, consumer online account opening, personal finance, online documents, consumer debit cards, business debit cards, my rewards for consumer debit cards, retail lockbox, card control, business employee purchase cards, home equity advantage access cards, telebanking, and automated teller services.Additionally, the company offers personalized checks at account opening, overdraft protection from a savings account, commercial drive-up banking, automatic transfer and payment, People Pay, external transfer, Bill Pay, wire transfer, direct payroll deposit, electronic tax payment, Automated Clearing House origination and receipt, remote deposit capture, account reconciliation and positive pay, merchant, cash management, annuity, and long term investment portfolio products and services.It also provides investment advisory, trust, wealth management, factoring, and mortgage brokerage services.


As of January 28, 2022, the company operated 17 branches in Anchorage, the Matanuska Valley, Soldotna, Juneau, Fairbanks, Ketchikan, and Sitka.Northrim BanCorp, Inc.was founded in 1990 and is headquartered in Anchorage, Alaska.

Show Full description

1.b. Last Insights on NRIM

Northrim BanCorp's recent performance was driven by a significant increase in purchased receivable income due to the acquisition of Sallyport Commercial Finance in October 2024. This acquisition contributed to a 15% boost in 2025 earnings and a 20% increase in 2026 earnings per share. Additionally, the company experienced higher mortgage banking income, primarily from an increase in the fair value of a mortgage servicing portfolio. However, higher other operating expenses and an increase in the provision for credit losses partially offset these gains.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

3. NewsRoom

Card image cap

3 Reasons Growth Investors Will Love Northrim (NRIM)

Dec -03

Card image cap

Buy These 4 Stocks With Solid Net Profit Margin to Boost Returns

Dec -01

Card image cap

Forget Profit, Bet on 4 Stocks With Increasing Cash Flows

Dec -01

Card image cap

Northrim BanCorp, Inc. Announces Completion of $60.0 Million Subordinated Notes Offering

Nov -26

Card image cap

Buy These 5 Low-Leverage Stocks as Market Moves Up

Nov -26

Card image cap

Here is Why Growth Investors Should Buy Northrim (NRIM) Now

Nov -17

Card image cap

Earnings Estimates Rising for Northrim (NRIM): Will It Gain?

Nov -17

Card image cap

Best Momentum Stock to Buy for Nov. 17th

Nov -17

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.55%)

6. Segments

Community Banking

Expected Growth: 5.5%

Northrim BanCorp's 5.5% community banking growth is driven by strong loan demand, fueled by Alaska's thriving economy and increasing consumer spending. Additionally, the bank's focus on relationship-based banking, competitive pricing, and strategic branch expansion have contributed to its growth. Furthermore, the bank's commitment to community development and customer service has enhanced its reputation, attracting new customers and driving deposit growth.

Home Mortgage Lending

Expected Growth: 5.8%

Northrim BanCorp, Inc.'s 5.8% growth in Home Mortgage Lending is driven by strong demand for housing in Alaska, fueled by low unemployment, rising wages, and government-backed loan programs. Additionally, the bank's strategic expansion into new markets, improved digital lending platforms, and competitive pricing have contributed to the growth.

7. Detailed Products

Personal Banking

Northrim BanCorp, Inc. offers a range of personal banking services, including checking and savings accounts, credit cards, loans, and investment services.

Business Banking

Northrim BanCorp, Inc. provides business banking services, including commercial loans, cash management, and treasury management solutions.

Mortgage Lending

Northrim BanCorp, Inc. offers mortgage lending services, including residential and commercial mortgage loans.

Wealth Management

Northrim BanCorp, Inc. provides wealth management services, including investment management, financial planning, and trust services.

Treasury Management

Northrim BanCorp, Inc. offers treasury management services, including cash management, fraud prevention, and account services.

8. Northrim BanCorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Northrim BanCorp, Inc. operates in the banking industry, where substitutes are limited. However, the rise of fintech companies and digital banking platforms poses a moderate threat to the company's services.

Bargaining Power Of Customers

Northrim BanCorp, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's focus on customer service and relationship-building helps to maintain customer loyalty.

Bargaining Power Of Suppliers

Northrim BanCorp, Inc. is not heavily dependent on a single supplier, and the banking industry has a diverse range of suppliers. This reduces the bargaining power of suppliers and minimizes the risk of supply chain disruptions.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory requirements and capital requirements. This makes it difficult for new entrants to enter the market, reducing the threat of new competition.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Northrim BanCorp, Inc. operates in a crowded market, which increases the intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 10.19%
Debt Cost 7.55%
Equity Weight 89.81%
Equity Cost 7.55%
WACC 7.55%
Leverage 11.34%

11. Quality Control: Northrim BanCorp, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Peoples Bancorp of North Carolina

A-Score: 7.0/10

Value: 8.0

Growth: 6.6

Quality: 7.2

Yield: 6.0

Momentum: 8.0

Volatility: 6.3

1-Year Total Return ->

Stock-Card
Northrim Bank

A-Score: 6.8/10

Value: 6.7

Growth: 5.1

Quality: 7.5

Yield: 7.0

Momentum: 8.0

Volatility: 6.3

1-Year Total Return ->

Stock-Card
Central Pacific Financial

A-Score: 6.7/10

Value: 6.6

Growth: 5.0

Quality: 7.0

Yield: 8.0

Momentum: 6.0

Volatility: 7.7

1-Year Total Return ->

Stock-Card
Chemung Financial

A-Score: 6.4/10

Value: 5.8

Growth: 5.6

Quality: 5.5

Yield: 6.0

Momentum: 7.5

Volatility: 8.0

1-Year Total Return ->

Stock-Card
S&T Bancorp

A-Score: 6.2/10

Value: 5.7

Growth: 5.6

Quality: 6.4

Yield: 8.0

Momentum: 3.5

Volatility: 8.0

1-Year Total Return ->

Stock-Card
Hope Bancorp

A-Score: 5.3/10

Value: 5.8

Growth: 3.6

Quality: 5.5

Yield: 8.0

Momentum: 2.0

Volatility: 7.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

25.05$

Current Price

25.05$

Potential

-0.00%

Expected Cash-Flows