Trade Northrim BanCorp Inc - NRIM CFD

Northrim Company profile

About Northrim BanCorp, Inc.

Northrim BanCorp, Inc. is a bank holding company. The Company operates through two segments: Community Banking and Home Mortgage Lending. The Community Banking segment's principal business focuses on the offering of loan and deposit products to business and consumer customers in its primary market areas. The Home Mortgage lending segment's principal business focuses on the origination and sale of mortgage loans for one- to four-family residential properties. The deposit services include business and personal noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, savings accounts, and individual retirement accounts. Its loan products include short and medium-term commercial loans, commercial credit lines, construction and real estate loans, and consumer loans. It also offers convenience services including mobile Web and text banking, consumer online account opening, personal finance, online documents, consumer debit cards and business debit cards.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Northrim BanCorp, Inc. interest income increased 10% to $84.6M. Net interest income after loan loss provision increased 24% to $84.9M. Net income increased 14% to $37.5M. Net interest income after loan loss provision reflects Community Banking segment increase of 26% to $82.2M. Net income was partially offset by Home Mortgage Lending segment income decrease of 40% to $10.3M.

Equity composition

Common Stock $1 Par, 03/11, 10M auth., 6,429,476 issd. Insiders own 4.59%.(RK) IPO 11/90, 1,162,620 shares @ $8 by Wedbush Morgan Secs. PO 5/99, 1.8M shares @ $11 by Friedman Billings Ramsey & Co. 11/01, 10% dividend; 9/93, 5-for-4 stock split; 09/07, 08/06, 2/00, 1/99, 1/98, 1/97, 1/96 & 4/95, 5% stock dividends.