Northrim bancorp, inc. (NRIM)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest Income
Interest and fees on loans and loans held for sale

62,150

57,542

55,041

54,777

56,166

51,015

43,137

41,515

42,391

44,926

48,830

Interest on investment securities available for sale

6,572

5,481

4,230

3,580

-

-

-

-

-

-

-

Interest on investment securities available for sale

-

-

-

-

3,393

3,042

2,603

2,796

3,097

4,316

4,134

Dividends on marketable equity securities

439

348

345

315

-

-

-

-

-

-

-

Interest on investment securities held to maturity

0

0

59

41

68

91

111

139

212

278

365

Interest on deposits in other banks

922

806

433

205

153

198

223

278

208

178

161

Total Interest Income

70,083

64,177

60,108

58,918

59,780

54,346

46,074

44,728

45,908

49,698

53,490

Interest Expense
Interest expense on deposits

4,961

2,307

1,707

1,870

1,939

1,419

-

-

-

-

-

Interest expense on securities sold under agreements to repurchase

40

50

34

30

23

16

-

-

-

-

-

Interest expense on borrowings

251

223

173

-

-

-

-

-

-

-

-

Interest expense on borrowings

-

-

-

127

446

167

-

-

-

-

-

Interest expense on junior subordinated debentures

389

389

516

534

463

451

-

-

-

-

-

Total Interest Expense

5,641

2,969

2,430

2,561

2,871

2,053

2,040

2,505

3,544

5,485

7,069

Net Interest Income

64,442

61,208

57,678

56,357

56,909

52,293

44,034

42,223

42,364

44,213

46,421

Provision for loan losses

-1,175

-500

3,200

2,298

1,754

-636

-635

-1,559

1,999

5,583

7,066

Net Interest Income After Provision for Loan Losses

65,617

61,708

54,478

54,059

55,155

52,929

44,669

43,782

40,365

-

-

Other Operating Income
Mortgage banking income

24,201

20,844

23,287

-

-

-

-

-

-

-

-

Purchased receivable income

3,271

3,255

2,975

-

-

-

-

-

-

-

-

Other operating income

-

-

-

6,280

-

-

-

-

-

-

-

Mortgage banking income

-

-

-

29,507

-

-

-

-

-

-

-

Electronic banking income

-

-

-

-

-

-

-

2,058

1,945

1,758

1,542

Net Interest Income After Provision for Loan Losses

-

-

-

-

-

-

-

-

-

38,630

39,355

Purchased receivable income

-

-

-

2,347

2,287

2,074

2,797

3,026

2,703

1,839

2,106

Gain (loss) on marketable equity securities

911

-625

0

0

-

-

-

-

-

-

-

Interest rate swap income

964

84

26

-

-

-

-

-

-

-

-

Commercial servicing revenue

624

1,422

372

-

-

-

-

-

-

-

-

Gain on sale of securities

23

0

11

-

-

-

-

-

-

-

-

Commercial servicing revenue

-

-

-

322

-

-

-

-

-

-

-

Gain on sale of Northrim Benefits Group

0

0

4,445

0

0

-

-

-

-

-

-

Mortgage banking income

-

-

-

-

29,613

2,386

0

0

-

-

-

Employee benefit plan income

0

0

2,506

3,770

3,651

3,497

2,341

2,369

2,167

1,900

1,739

Gain on sale of securities, net

-

-

-

-11

-

-

-

-

-

-

-

Bankcard fees

-

-

-

-

2,671

2,229

2,009

-

-

-

-

Service charges on deposit accounts

-

-

-

-

2,103

2,155

2,116

2,201

2,296

2,636

2,983

Gain on sale of securities, net

-

-

-

-

271

461

333

336

419

649

220

Gain on purchase of mortgage affiliate

-

-

-

-

-

3,001

0

0

-

-

-

Equity in earnings from RML

-

-

-

-

-

894

1,227

2,635

1,201

1,401

-

Rental income

-

-

-

-

-

-

-

773

776

810

850

Other income

2,819

2,868

2,641

2,660

4,012

3,337

2,063

2,034

1,583

1,384

1,295

Total Other Operating Income

37,346

32,167

40,474

43,263

44,608

20,034

12,886

15,432

13,090

12,377

13,084

Other Operating Expense
Salaries and other personnel expense

51,317

44,650

44,721

46,752

43,931

27,758

23,796

22,032

21,006

21,637

22,174

Amortization of low income housing tax investments

-

-

-

-

-

-

-

921

902

869

790

Data processing expense

7,128

6,035

5,549

4,879

4,313

4,171

1,066

1,111

1,005

920

979

Occupancy expense

6,607

6,136

6,752

6,462

6,332

4,360

3,464

3,615

3,764

3,704

3,687

Equipment expense

-

-

-

-

-

-

1,239

1,205

1,200

1,116

1,218

Professional and outside services

2,531

2,453

2,365

2,797

2,980

1,437

1,268

1,479

1,386

1,315

1,798

Change in fair value of RML earn-out liability

-

-

-

-

-

-

0

-

-

-

-

Marketing expense

2,373

2,318

2,566

2,449

2,728

2,059

1,853

1,975

1,771

1,782

1,317

Insurance expense

557

862

1,161

1,023

1,339

1,031

821

913

1,333

1,902

2,715

Merger and acquisition expense

-

-

-

-

-

1,962

536

0

-

-

-

Internet banking expense

-

-

-

-

-

-

778

701

648

622

558

Reserve (benefit) for purchased receivables

-

-

-

-

-138

704

100

357

0

-

-

Loss on sale of premises and equipment

-

-

-

-352

-37

1,109

0

0

-

-

-

Compensation expense - RML acquisition payments

468

0

130

4,775

4,094

0

-

-

-

-

-

Intangible asset amortization expense

60

70

100

135

258

289

228

252

275

299

-

Impairment of equity method investment

0

-804

-686

0

-

-

-

-

-

-

-

OREO (income), net rental income and gains on sale

-193

258

837

98

190

-416

-60

1,089

-710

-1,145

1,119

Intangible asset amortization expense

-

-

-

-

-

-

-

-

-

-

323

Prepayment penalty on long term debt

-

-

-

-

-

-

-

-

-

-

718

Other operating expense

5,990

6,214

6,286

6,558

6,581

4,677

3,808

3,950

4,175

4,603

3,961

Total Other Operating Expense

76,838

69,800

71,153

76,280

72,645

46,923

38,897

39,600

36,755

37,624

41,357

Income Before Provision for Income Taxes

26,125

24,075

23,799

21,042

27,118

26,040

18,658

19,614

16,700

13,383

11,082

Provision for income taxes

5,434

4,071

10,321

6,052

8,784

8,173

6,246

6,156

4,873

3,918

2,967

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

20,691

20,004

13,478

14,990

18,334

17,867

12,412

13,458

11,827

9,465

8,115

Less: Net income attributable to the noncontrolling interest

0

0

327

579

551

459

87

512

429

399

388

Net Income

20,691

20,004

13,151

14,411

17,783

17,408

12,325

12,946

11,398

9,066

7,727

Earnings Per Share, Basic (in USD per share)

3.08

2.91

1.91

2.09

2.59

2.57

1.89

2.00

1.77

1.42

1.22

Earnings Per Share, Diluted (in USD per share)

3.04

2.86

1.88

2.06

2.56

2.54

1.87

1.97

1.74

1.40

1.20

Weighted Average Shares Outstanding, Basic (in shares)

6,709

6,878

6,889

6,883

6,859

6,761

6,518

6,477

6,439

6,398

6,345

Weighted Average Shares Outstanding, Diluted (in shares)

6,808

6,982

6,977

6,974

6,948

6,852

6,609

6,574

6,555

6,480

6,417

Bankcard fees
Other operating income

2,976

2,811

2,597

2,670

-

-

-

-

-

-

-

Service charges on deposit accounts
Other operating income

1,557

1,508

1,614

1,998

-

-

-

-

-

-

-