Northrim bancorp, inc. (NRIM)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest Income
Interest and fees on loans and loans held for sale

15,359

15,957

15,863

15,353

14,977

15,251

14,992

14,036

13,263

13,861

14,341

13,601

13,238

13,423

13,866

13,710

13,778

14,080

14,484

14,135

13,467

13,625

13,437

13,082

10,871

11,258

10,803

10,734

10,342

10,569

10,416

10,305

10,225

10,604

10,392

10,709

10,686

11,249

11,212

Interest on investment securities available for sale

1,622

1,722

1,528

1,690

1,632

1,611

1,314

1,302

1,254

-

956

1,124

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest on investment securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

1,078

-

930

953

980

905

844

759

885

866

696

750

730

679

635

630

659

656

673

718

749

845

717

663

872

895

1,245

Dividends on marketable equity securities

102

109

114

109

107

96

86

84

82

86

87

86

86

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends on Federal Home Loan Bank stock

20

-

19

19

19

-

19

14

12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest on investment securities held to maturity

-

-

-

-

-

-

-

-

-

22

11

11

15

0

14

14

13

7

13

25

23

22

24

22

23

23

29

30

29

29

35

37

38

43

49

59

61

68

70

Dividends on Federal Home Loan Bank stock

20

-

19

19

19

-

19

14

12

-

6

6

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest on deposits in other banks

236

331

313

135

143

294

169

159

184

203

118

64

48

67

50

41

47

71

47

24

11

53

55

41

49

58

57

46

62

95

80

63

40

48

72

55

33

54

42

Total Interest Income

17,339

18,062

17,837

17,306

16,878

17,207

16,580

15,595

14,795

15,232

15,519

14,892

14,465

14,522

14,860

14,718

14,818

15,063

15,388

14,943

14,386

14,566

14,212

13,895

11,673

12,018

11,524

11,440

11,092

11,349

11,204

11,123

11,052

11,540

11,230

11,486

11,652

12,266

12,569

Interest Expense
Interest expense on deposits

1,484

1,484

1,365

1,174

938

894

595

446

372

382

429

451

445

447

473

479

471

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense on securities sold under agreements to repurchase

0

-1

1

18

22

24

9

8

9

9

9

8

8

9

7

7

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense on securities sold under agreements to repurchase

71

-

-

-

57

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense on borrowings

-

-

70

62

-

-

59

57

58

-

54

39

38

19

36

28

44

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense on junior subordinated debentures

94

107

95

95

92

103

98

95

93

115

110

150

141

156

131

125

122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total Interest Expense

1,649

1,652

1,531

1,349

1,109

1,070

761

606

532

548

602

648

632

631

647

639

644

663

706

748

754

642

487

484

440

497

502

511

530

569

611

627

698

787

876

904

977

1,370

1,466

Net Interest Income

15,690

16,410

16,306

15,957

15,769

16,137

15,819

14,989

14,263

14,684

14,917

14,244

13,833

13,891

14,213

14,079

14,174

14,400

14,682

14,195

13,632

13,924

13,725

13,411

11,233

11,521

11,022

10,929

10,562

10,780

10,593

10,496

10,354

10,753

10,354

10,582

10,675

10,896

11,103

Provision for loan losses

2,060

-150

-2,075

300

750

-200

0

-300

0

0

2,500

300

400

743

652

200

703

376

676

376

326

500

0

-1,136

0

0

-785

0

150

-300

-1,437

89

89

350

550

550

549

417

1,375

Net Interest Income After Provision for Loan Losses

13,630

16,560

18,381

15,657

15,019

16,337

15,819

15,289

14,263

14,684

12,417

13,944

13,433

13,148

13,561

13,879

13,471

14,024

14,006

13,819

13,306

13,424

13,725

14,547

11,233

11,521

11,807

10,929

10,412

-

12,030

-

-

-

-

-

-

-

-

Other Operating Income
Mortgage banking income

4,665

-

7,565

-

4,298

-

5,903

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchased receivable income

921

-

-

-

809

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating income

-

-

-

1,608

-

-

-

1,519

1,342

-

1,441

1,415

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of marketable equity securities, net

98

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of investment securities available for sale, net

0

-

-

-

23

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized (loss) gain on marketable equity securities

-871

-

-

-

534

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income

615

-

-

-

806

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Electronic banking income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

590

604

500

-

567

536

504

562

520

493

483

521

508

467

449

449

435

Net Interest Income After Provision for Loan Losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,407

10,265

-

9,804

10,032

10,126

10,479

9,728

Purchased receivable income

-

-

709

837

-

-

767

867

840

-

752

776

689

703

579

531

534

549

587

562

589

527

582

484

481

570

757

768

702

776

826

712

712

817

695

565

626

485

595

Gain (loss) on marketable equity securities

-

-

130

118

-

-489

37

-173

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest rate swap income

-

-

0

734

-

-

70

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage banking income

-

-

-

-

-

-

-

-

-

-

-

-

5,450

-

8,341

8,510

5,696

6,310

8,138

7,859

7,306

2,386

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of Northrim Benefits Group

-

-

-

-

-

-

-

-

-

-

4,443

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Employee benefit plan income

-

-

-

-

-

-

-

-

-

0

609

961

936

871

999

936

964

939

1,004

931

777

844

899

878

876

599

541

632

569

604

609

616

540

538

536

593

500

466

530

Gain on sale of securities, net

-

-

0

0

-

-

0

0

0

-

-3

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bankcard fees

-

-

-

-

-

-

-

-

-

-

-

-

581

-

687

675

633

724

689

669

589

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges on deposit accounts

-

-

-

-

-

-

-

-

-

-

-

-

439

-

516

510

499

486

559

568

490

473

599

607

476

503

549

539

525

528

536

569

568

569

609

594

524

659

762

Gain on sale of securities, net

-

-

-

-

-

-

-

-

-

-

-

-

14

-

0

12

-23

137

4

16

114

0

15

349

97

15

0

100

218

63

0

246

27

123

33

0

263

58

132

Equity in earnings from RML

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

286

384

355

-131

111

336

538

242

966

963

405

301

-

357

-

-

-

-

Rental income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

175

196

204

198

199

190

191

196

-

-

Other income

-

-

887

773

-

345

765

1,059

699

473

765

607

796

355

813

690

802

958

1,426

958

670

1,323

750

829

435

602

493

589

379

669

507

480

378

487

434

390

272

517

588

Total Other Operating Income

6,433

9,735

10,509

9,569

7,533

7,718

8,673

8,314

7,462

7,952

13,855

9,762

8,905

10,359

11,935

11,864

9,105

10,103

12,407

11,563

10,535

8,260

4,934

4,106

2,734

2,802

3,243

3,702

3,139

4,343

4,157

3,725

3,207

3,880

3,362

3,070

2,778

3,200

3,222

Other Operating Expense
Salaries and other personnel expense

12,256

13,884

13,186

12,945

11,302

11,442

11,261

11,362

10,585

10,971

11,115

11,793

10,842

11,332

12,158

12,011

11,251

10,816

11,440

11,125

10,550

7,892

7,107

6,839

5,920

6,367

6,108

5,586

5,735

5,688

5,484

5,154

5,706

5,260

5,230

5,200

5,316

5,394

5,402

Amortization of low income housing tax investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

240

247

245

228

231

234

228

227

224

235

216

201

218

Data processing expense

1,769

1,804

1,849

1,796

1,679

1,661

1,503

1,323

1,548

1,340

1,509

1,453

1,247

1,376

1,207

1,146

1,150

1,070

1,043

1,104

1,096

3,174

383

354

260

277

257

267

265

286

304

270

251

231

257

277

240

256

215

Occupancy expense

1,657

1,618

1,576

1,642

1,771

1,729

1,687

1,020

1,700

1,761

1,706

1,664

1,621

1,590

1,567

1,697

1,608

1,612

1,522

1,594

1,604

1,330

1,041

1,112

877

867

851

858

888

857

842

920

996

943

914

997

910

1,016

897

Equipment expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

405

359

298

339

321

301

278

312

257

342

294

313

291

292

304

304

244

Professional and outside services

608

681

610

684

556

673

727

554

499

457

674

612

622

696

675

785

641

796

642

791

751

573

323

219

322

289

321

309

349

347

427

287

418

375

370

304

337

338

323

Change in fair value, RML earn-out liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

587

1,502

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Marketing expense

583

764

357

833

419

857

367

462

632

833

332

891

510

596

500

615

738

904

565

642

617

634

417

394

614

488

473

445

447

667

436

435

437

456

435

443

437

445

439

Insurance expense

312

-35

102

232

258

217

171

178

296

239

475

194

253

180

265

263

315

264

406

345

324

243

319

284

185

211

205

261

144

258

236

301

118

211

391

295

436

502

422

Merger and acquisition expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

139

1,031

312

480

-

158

-

-

-

-

-

-

-

-

-

-

-

-

Internet banking expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

264

213

200

198

207

189

184

173

171

185

172

175

162

158

153

144

150

Reserve (benefit) for purchased receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

257

241

243

-37

-

0

-115

-

-

349

-

-

-

-

-

-

-

-

Loss on sale of premises and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-358

-

-

0

-7

-

-

1,115

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Compensation expense - RML acquisition payments

-

-

-

-

-

-

-

-

-

-193

149

0

174

708

3,250

687

130

-

780

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible asset amortization expense

12

15

15

15

15

17

18

17

18

21

26

27

26

30

35

35

35

40

73

72

73

75

81

81

52

53

58

59

58

59

64

65

64

-

70

71

-

-

-

Impairment of equity method investment

-

-

0

-

-

-

-804

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operational losses, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

123

130

Impairment (recovery) on purchased receivables, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3

406

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

-36

-7

-31

165

-320

101

43

11

103

621

-44

83

177

29

-32

127

-26

-138

152

-121

297

-101

-68

-9

-238

-48

-18

12

-6

625

249

118

97

185

-14

-742

-139

-969

-40

Intangible asset amortization expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

70

76

77

Other operating expense

1,626

1,423

1,660

1,507

1,400

1,603

1,518

1,679

1,414

1,601

1,749

1,793

1,143

1,829

1,555

1,645

1,529

1,747

1,580

1,607

1,647

1,189

1,235

1,219

1,034

831

895

972

1,110

1,047

942

984

977

971

1,099

1,059

1,046

883

905

Total Other Operating Expense

18,787

20,615

19,324

19,819

17,080

18,300

18,099

16,606

16,795

18,337

17,691

18,510

16,615

18,354

21,186

19,369

17,371

18,228

18,203

17,753

18,461

12,557

12,779

11,620

9,967

9,733

10,076

9,391

9,697

10,555

9,992

9,295

9,758

9,411

9,429

8,589

9,326

8,710

9,788

Income Before Provision for Income Taxes

1,276

5,680

9,566

5,407

5,472

5,755

6,393

6,997

4,930

4,299

8,581

5,196

5,723

5,153

4,310

6,374

5,205

5,899

8,210

7,629

5,380

9,127

5,880

7,033

4,000

4,590

4,974

5,240

3,854

4,868

6,195

4,837

3,714

4,872

3,737

4,513

3,578

4,969

3,162

Provision for income taxes

243

1,100

2,028

1,146

1,160

907

1,129

1,167

868

4,085

2,980

1,455

1,801

1,458

1,027

1,868

1,699

1,673

2,678

2,686

1,747

2,325

1,982

2,569

1,297

2,011

1,510

1,635

1,090

1,588

1,991

1,551

1,026

1,516

1,125

1,198

1,034

1,629

912

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

-

-

-

-

-

-

-

-

-

214

5,601

3,741

3,922

3,695

3,283

4,506

3,506

4,226

5,532

4,943

3,633

6,802

3,898

4,464

2,703

2,579

3,464

3,605

2,764

3,280

4,204

3,286

2,688

3,356

2,612

3,315

2,544

3,340

2,250

Less: Net income attributable to the noncontrolling interest

-

-

-

-

-

-

-

-

-

0

78

152

97

105

188

156

130

120

197

162

72

128

191

95

45

-102

-10

109

90

118

138

144

112

101

106

133

89

162

110

Net Income

1,033

4,580

7,538

4,261

4,312

4,848

5,264

5,830

4,062

214

5,523

3,589

3,825

3,590

3,095

4,350

3,376

4,106

5,335

4,781

3,561

6,674

3,707

4,369

2,658

2,681

3,474

3,496

2,674

3,162

4,066

3,142

2,576

3,255

2,506

3,182

2,455

3,178

2,140

Earnings Per Share, Basic (in USD per share)

0.16

0.70

1.13

0.62

0.63

0.70

0.77

0.85

0.59

0.04

0.80

0.52

0.55

0.52

0.45

0.63

0.49

0.59

0.78

0.70

0.52

0.98

0.54

0.64

0.41

0.41

0.53

0.54

0.41

0.48

0.63

0.49

0.40

0.51

0.39

0.49

0.38

0.50

0.34

Earnings Per Share, Diluted (in USD per share)

0.16

0.69

1.11

0.62

0.62

0.69

0.75

0.84

0.58

0.03

0.79

0.51

0.55

0.51

0.44

0.63

0.48

0.59

0.77

0.69

0.51

0.98

0.53

0.63

0.40

0.40

0.53

0.53

0.41

0.48

0.62

0.48

0.39

0.50

0.38

0.49

0.37

0.49

0.33

Weighted Average Shares Outstanding, Basic (in shares)

6,467

6,553

6,604

6,798

6,879

6,890

6,877

6,872

6,871

6,865

6,872

6,910

6,909

6,897

6,882

6,877

6,877

6,872

6,856

6,854

6,854

6,845

6,831

6,829

6,537

6,531

6,515

6,515

6,512

6,500

6,471

6,469

6,467

6,460

6,436

6,431

6,428

6,401

6,386

Weighted Average Shares Outstanding, Diluted (in shares)

6,560

6,645

6,707

6,896

6,981

6,992

6,990

6,976

6,968

6,961

6,959

6,997

6,993

6,992

6,973

6,968

6,964

6,969

6,952

6,941

6,930

6,940

6,919

6,919

6,629

6,650

6,607

6,591

6,590

6,587

6,570

6,573

6,567

6,567

6,554

6,549

6,548

6,479

6,473

Mortgage banking income
Revenue from Contract with Customer, Excluding Assessed Tax

-

-

-

5,950

-

-

-

5,478

4,944

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bankcard fees
Other operating income

643

762

820

744

650

755

724

707

625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges on deposit accounts
Other operating income

362

333

398

413

413

371

407

376

354

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-