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Northrim Q2 net income rises 31%

ReutersJul 23, 2025 8:33 PM


Overview

  • Northrim Q2 net income rises to $11.8 mln, up from $9.0 mln a year ago

  • Net interest income grows 24% yr/yr to $33.6 mln, driven by loan growth

  • Acquisition of Sallyport boosts purchased receivable income


Outlook

  • Northrim aims to increase market share over the next few years


Result Drivers

  • NET INTEREST INCOME - Driven by strong loan growth and increasing asset yields, per CEO Mike Huston

  • PURCHASED RECEIVABLES - Boosted by acquisition of Sallyport Commercial Finance, enhancing income

  • MORTGAGE BANKING - Increased mortgage activity contributes to higher income


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 EPS

$2.09

Q2 Net Income

$11.80 mln

Q2 Net Interest Income

$33.60 mln

Q2 Net Interest Margin

4.7%

Q2 Operating Expenses

$32.50 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy."

  • Wall Street's median 12-month price target for Northrim BanCorp Inc is $104.00, about 6.6% above its July 22 closing price of $97.11

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX6P080K

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