NORTHRIM BANCORP INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
NRIM$23.49-0.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Balance Sheets
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| (In Thousands, Except Share Data) | ||
| ASSETS | ||
| Cash and due from banks | $42,805 | $27,457 |
| Interest bearing deposits in other banks | 60,071 | 91,073 |
| Investment securities available for sale, at fair value | 545,210 | 637,936 |
| Marketable equity securities | 12,957 | 13,153 |
| Investment securities held to maturity, at amortized cost | 36,750 | 36,750 |
| Investment in Federal Home Loan Bank stock | 4,318 | 2,980 |
| Loans held for sale | 97,937 | 31,974 |
| Loans | 2,007,565 | 1,789,497 |
| Allowance for credit losses, loans | (19,528) | (17,270) |
| Net loans | 1,988,037 | 1,772,227 |
| Purchased receivables, net | 23,564 | 36,842 |
| Mortgage servicing rights, at fair value | 21,570 | 19,564 |
| Premises and equipment, net | 39,625 | 40,693 |
| Operating lease right-of-use assets | 7,616 | 9,092 |
| Goodwill | 15,017 | 15,017 |
| Other intangible assets, net | 950 | 950 |
| Other assets | 66,965 | 71,789 |
| Total assets | $2,963,392 | $2,807,497 |
| LIABILITIES | ||
| Deposits: | ||
| Demand | $763,595 | $749,683 |
| Interest-bearing demand | 979,238 | 927,291 |
| Savings | 245,043 | 255,338 |
| Money market | 201,821 | 221,492 |
| Certificates of deposit less than $250,000 | 219,838 | 189,106 |
| Certificates of deposit $250,000 and greater | 216,032 | 142,145 |
| Total deposits | 2,625,567 | 2,485,055 |
| Borrowings | 13,354 | 13,675 |
| Junior subordinated debentures | 10,310 | 10,310 |
| Operating lease liabilities | 7,635 | 9,092 |
| Other liabilities | 46,476 | 54,647 |
| Total liabilities | 2,703,342 | 2,572,779 |
| SHAREHOLDERS' EQUITY | ||
| Preferred stock, $1 par value, 2,500,000 shares authorized, none issued or outstanding | — | — |
| Common stock, $1 par value, 10,000,000 shares authorized, 5,501,943 and 5,513,459 issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 5,502 | 5,513 |
| Additional paid-in capital | 9,460 | 9,605 |
| Retained earnings | 251,842 | 236,037 |
| Accumulated other comprehensive loss, net of tax | (6,754) | (16,437) |
| Total shareholders' equity | 260,050 | 234,718 |
| Total liabilities and shareholders' equity | $2,963,392 | $2,807,497 |
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