A Business at a Glance
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NORTHRIM BANCORP INC
NRIM
$610M
Mkt Cap
$27.09
-0.22%
NORTHRIM BANCORP INC (NRIM) has a current P/E ratio of 9.6, compared to its historical median P/E of 9.8. The stock is currently considered Fair based on its historical valuation range.
NORTHRIM BANCORP INC (NRIM) has a 5-year average return on invested capital (ROIC) of 14.6%. This indicates solid capital allocation.
NORTHRIM BANCORP INC (NRIM) has a market capitalization of $603M. It is classified as a small-cap stock.
Yes, NORTHRIM BANCORP INC (NRIM) pays a dividend with a trailing twelve-month yield of 2.42%.
Based on historical P/E analysis, NORTHRIM BANCORP INC (NRIM) appears fair. The current P/E of 9.6 is 2% below its historical median of 9.8. The estimated fair value CAGR (P/E method) is 12.6%.
NORTHRIM BANCORP INC (NRIM) operates in the Savings Institution, Federally Chartered industry, within the Financials sector.
NORTHRIM BANCORP INC (NRIM) reported annual revenue of $256 million in its most recent fiscal year, based on SEC EDGAR filings.
In this document, please note that references to "we", "our", "us", or the "Company" mean Northrim BanCorp, Inc. and its subsidiaries, unless the context suggests otherwise. We are a publicly traded bank holding company headquartered in Anchorage, Alaska. The Company’s common stock trades on the Nasdaq Global Select Stock Market (“NASDAQ”) under the symbol, “NRIM.” The Company is regulated by the Board of Governors of the Federal Reserve System, (the “FRB”). We began banking operations in Anchorage in December 1990, and formed the Company as an Alaska corporation in connection with our reorganization into a holding company structure; that reorganization was completed effective December 31, 2001. The Company has grown to be the third largest commercial bank in Alaska in terms of deposits, with $2.8 billion in total deposits and $3.3 billion in total assets at December 31, 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 217M | 256M | 196M | 158M | 134M | 137M |
| Net Income | 65M | 65M | 37M | 25M | 31M | 38M |
| EPS | $4.54 | $2.87 | $0.42 | $1.15 | $1.32 | $1.50 |
| Free Cash Flow | 142M | 134M | -9.3M | 33M | 74M | 110M |
| ROIC | 15.6% | 20.5% | 13.7% | 10.6% | 12.7% | 15.4% |
| Gross Margin | 97.1% | 98.2% | 97.9% | - | - | - |
| Debt/Equity | 0.24 | 1.37 | 1.33 | 1.54 | 1.51 | 1.20 |
| Dividends/Share | $0.65 | $0.64 | $0.15 | $0.62 | $0.46 | $0.38 |
| Operating Income | 3.5M | 3.8M | 3.6M | 3.1M | 2.7M | 2.9M |
| Operating Margin | 1.6% | 1.5% | 1.8% | 2.0% | 2.0% | 2.1% |
| ROE | 19.3% | 21.8% | 14.7% | 11.2% | 13.5% | 16.3% |
| Shares Outstanding | 22M | 23M | 89M | 22M | 23M | 25M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 74M | 104M | 102M | 101M | 96M | 107M | 140M | 137M | 134M | 158M | 196M | 256M | 217M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 97.9% | 98.2% | 97.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 28M | 44M | 47M | 45M | 45M | 51M | 61M | 60M | 58M | 62M | 68M | 78M | 81M |
| EBIT | 3.3M | 4.0M | 2.7M | 2.6M | 2.9M | 2.8M | 2.5M | 2.9M | 2.7M | 3.1M | 3.6M | 3.8M | 3.5M |
| Op. Margin | 4.5% | 3.8% | 2.6% | 2.6% | 3.0% | 2.6% | 1.8% | 2.1% | 2.0% | 2.0% | 1.8% | 1.5% | 1.6% |
| Net Income | 17M | 18M | 14M | 13M | 20M | 21M | 33M | 38M | 31M | 25M | 37M | 65M | 65M |
| Net Margin | 23.4% | 17.0% | 14.1% | 13.1% | 20.8% | 19.3% | 23.5% | 27.4% | 22.9% | 16.0% | 18.9% | 25.3% | 30.0% |
| Non-Recurring | 1.1M | 0 | 0 | 4.4M | 0 | 0 | -22K | 0 | 0 | 123K | 0 | 14M | 14M |
| Returns on Capital | |||||||||||||
| ROIC | 11.1% | 9.5% | 6.7% | 5.9% | 8.4% | 8.9% | 14.5% | 15.4% | 12.7% | 10.6% | 13.7% | 20.5% | 15.6% |
| ROE | 11.3% | 10.4% | 7.9% | 6.9% | 10.0% | 10.0% | 15.3% | 16.3% | 13.5% | 11.2% | 14.7% | 21.8% | 19.3% |
| ROA | 1.3% | 1.2% | 1.0% | 0.9% | 1.3% | 1.3% | 1.7% | 1.5% | 1.1% | 0.9% | 1.3% | 2.0% | 1.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 20M | 11M | 20M | 19M | 25M | -821K | -36M | 112M | 78M | 39M | -8.7M | 139M | 150M |
| Free Cash Flow | 14M | 3.6M | 17M | 18M | 22M | -3.1M | -39M | 110M | 74M | 33M | -9.3M | 134M | 142M |
| Owner Earnings | 18M | 7.8M | 17M | 16M | 22M | -4.7M | -41M | 108M | 74M | 35M | -13M | 134M | 106M |
| CapEx | 6.8M | 7.0M | 3.3M | 1.6M | 3.5M | 2.3M | 2.8M | 2.3M | 3.8M | 6.2M | 620K | 5.5M | 8.2M |
| Maint. CapEx | 1.9M | 2.3M | 2.4M | 3.0M | 2.4M | 3.0M | 3.1M | 3.3M | 3.1M | 3.3M | 3.6M | 3.5M | 42M |
| Growth CapEx | 5.0M | 4.8M | 854K | 0 | 1.2M | 0 | 0 | 0 | 671K | 2.8M | 0 | 2.0M | 0 |
| D&A | 1.9M | 2.3M | 2.4M | 3.0M | 2.4M | 3.0M | 3.1M | 3.3M | 3.1M | 3.3M | 3.6M | 3.5M | 42M |
| CapEx/OCF | 25.8% | 66.8% | 16.4% | 8.1% | 14.0% | N/A | N/A | 2.1% | 4.9% | 15.9% | N/A | N/A | 5.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 4.8M | 5.1M | 5.4M | 6.0M | 7.1M | 8.5M | 8.8M | 9.4M | 11M | 14M | 14M | 15M | 15M |
| Dividend Yield | 4.0% | 4.2% | 4.2% | 3.7% | 3.6% | 4.4% | 6.0% | 4.3% | 4.7% | 6.0% | 1.1% | N/A | 2.4% |
| Share Buybacks | 0 | 0 | 0 | 1.6M | 494K | 13M | 10.0M | 12M | 14M | 9.0M | 789K | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.9% | 0.3% | 6.2% | 5.5% | 5.0% | 5.0% | 2.9% | 0.2% | 0.0% | 0.0% |
| Stock-Based Comp | 360K | 608K | 778K | 665K | 816K | 832K | 943K | 1.1M | 742K | 937K | 913K | 1.7M | 1.8M |
| Debt Repayment | 7.0M | 24M | 47K | 73K | 121K | 167K | 105M | 309K | 413K | 195M | 728M | 573M | 573M |
| Balance Sheet | |||||||||||||
| Net Debt | -352M | -317M | -167M | -202M | -168M | -219M | -116M | -360M | 70M | 243M | 291M | 300M | -73M |
| Cash & Equiv. | 69M | 59M | 51M | 78M | 78M | 95M | 116M | 646M | 259M | 119M | 63M | 146M | 155M |
| Long-Term Debt | 0 | 34M | 32M | 35M | 42M | 8.9M | 15M | 15M | 14M | 14M | 23M | 13M | 82M |
| Debt/Equity | 0.00 | 0.19 | 1.15 | 0.95 | 0.88 | 0.74 | 1.12 | 1.20 | 1.51 | 1.54 | 1.33 | 1.37 | 0.24 |
| Interest Coverage | 1.6 | 1.4 | 1.2 | 1.1 | 1.0 | 0.5 | 0.4 | 0.6 | 0.5 | 0.1 | 0.1 | 0.0 | 0.1 |
| Equity | 164M | 177M | 187M | 193M | 206M | 207M | 222M | 238M | 219M | 235M | 267M | 327M | 336M |
| Total Assets | 1.4B | 1.5B | 1.5B | 1.5B | 1.5B | 1.6B | 2.1B | 2.7B | 2.7B | 2.8B | 3.0B | 3.3B | 3.4B |
| Total Liabilities | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.4B | 1.9B | 2.5B | 2.5B | 2.6B | 2.8B | 3.0B | 3.0B |
| Intangibles | 1.7M | 1.4M | 1.3M | 1.2M | 1.1M | 1.1M | 1.0M | 992K | 967K | 950K | 950K | 950K | 950K |
| Retained Earnings | 95M | 108M | 117M | 124M | 137M | 150M | 173M | 204M | 224M | 236M | 259M | 310M | 320M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 0.64 | 0.64 | 0.52 | 0.47 | 0.72 | 0.76 | 1.28 | 1.50 | 1.32 | 1.15 | 0.42 | 2.87 | 4.54 |
| Owner EPS | 0.67 | 0.28 | 0.60 | 0.56 | 0.79 | -0.17 | -1.57 | 4.30 | 3.18 | 1.57 | -0.15 | 5.96 | 4.76 |
| Book Value | 5.99 | 6.37 | 6.67 | 6.89 | 7.36 | 7.61 | 8.61 | 9.51 | 9.37 | 10.64 | 3.00 | 14.51 | 15.10 |
| Cash Flow/Share | 0.75 | 0.38 | 0.72 | 0.69 | 0.90 | -0.03 | -1.42 | 4.48 | 3.35 | 1.76 | -0.10 | 6.19 | 4.82 |
| Dividends/Share | 0.18 | 0.19 | 0.20 | 0.22 | 0.26 | 0.32 | 0.35 | 0.38 | 0.46 | 0.62 | 0.15 | 0.64 | 0.65 |
| Shares Out. | 27.4M | 27.8M | 28.0M | 28.0M | 28.0M | 27.2M | 25.7M | 25.0M | 23.3M | 22.1M | 89.1M | 22.5M | 22.2M |
| Valuation | |||||||||||||
| P/E Ratio | 7.2 | 7.3 | 11.1 | 13.4 | 8.5 | 9.8 | 5.5 | 6.1 | 9.1 | 12.3 | 11.3 | N/A | 6.0 |
| P/FCF | 9.2 | 35.9 | 9.5 | 9.9 | 7.9 | N/A | N/A | 2.1 | 3.8 | 9.4 | N/A | N/A | 4.2 |
| EV/EBIT | 43.4 | 37.0 | 60.0 | 69.8 | 63.2 | 75.7 | 77.1 | 98.1 | 108.4 | 126.9 | 137.6 | N/A | 149.2 |
| Price/Book | 0.8 | 0.7 | 0.9 | 0.9 | 0.8 | 1.0 | 0.8 | 1.0 | 1.3 | 1.3 | 1.6 | N/A | 1.8 |
| Price/Sales | 1.6 | 1.2 | 1.3 | N/A | 2.1 | 1.9 | 1.1 | 1.6 | 1.7 | 1.8 | 2.1 | N/A | 2.8 |
| FCF Yield | 10.8% | 2.8% | 10.5% | 10.1% | 12.7% | -1.5% | -21.8% | 47.7% | 26.5% | 10.4% | -2.2% | N/A | 23.5% |
| Market Cap | 126M | 130M | 160M | 176M | 171M | 203M | 180M | 230M | 281M | 313M | 418M | 0 | 603M |
| Avg. Price | 4.28 | 4.43 | 4.59 | 5.70 | 7.06 | 7.03 | 5.72 | 8.71 | 9.55 | 10.32 | 14.55 | 0.00 | 27.09 |
| Year-End Price | 4.60 | 4.67 | 5.73 | 6.28 | 6.11 | 7.46 | 6.99 | 9.19 | 12.03 | 13.85 | 18.73 | 0.00 | 27.09 |
NORTHRIM BANCORP INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
NORTHRIM BANCORP INC trades at 9.6x trailing earnings, compared to its 15-year median P/E of 9.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 4.3x vs a median of 8.6x. The company's 5-year average ROIC is 14.6% with a gross margin of 98.0%. Total shareholder yield (dividends) is 2.4%. At current prices, the estimated annualized return to fair value is +44.7%.
NORTHRIM BANCORP INC (NRIM) has a net profit margin of 25.3%. This is a strong margin indicating high profitability.
NORTHRIM BANCORP INC (NRIM) generated $134 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NORTHRIM BANCORP INC (NRIM) has a debt-to-equity ratio of 1.37. This indicates moderate leverage.
NORTHRIM BANCORP INC (NRIM) reported earnings per share (EPS) of $2.87 in its most recent fiscal year.
NORTHRIM BANCORP INC (NRIM) has a return on equity (ROE) of 21.8%. This indicates the company generates strong returns for shareholders.
NORTHRIM BANCORP INC (NRIM) has a 5-year average gross margin of 98.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for NORTHRIM BANCORP INC (NRIM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NORTHRIM BANCORP INC (NRIM) has a book value per share of $14.51, based on its most recent annual SEC filing.