NRIM

MKT CAP:$543M

Northrim BanCorp, Inc.

Market Cap

$543M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$24.78-$2.08 (-7.73%)

Apr 24, 2026

Company Details

Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates in two segments, Community Banking and Home Mortgag...

CEO

Michael G. Huston

IPO Date

Nov 15, 1990

Website

www.northrim.com

Key Metrics TTM

Revenue

$225M

+14.9% YoY

Net Income

$66M

EPS (Diluted)

$2.92

Free Cash Flow

$138M

Revenue / Share

$9.97

Gross Margin

64.8%

Operating Margin

36.8%

Net Margin

29.2%

FCF Margin

61.3%

P/S

2.4x

P/E

8.2x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$45M-19.5%EPS $0.61

FY 2025

Mar 6, 2026

$243M+23.8%EPS $2.87

Q3 2025

Oct 27, 2025

$63M+23.5%EPS $1.20

Q2 2025

Jul 28, 2025

$61M+32.2%EPS $0.52

Q1 2025

Apr 28, 2025

$56M+27.7%EPS $0.59

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$31M	$30M	$9M
Q2 22	$31M	$30M	$6M
Q3 22	$36M	$35M	$13M
Q4 22	$36M	$32M	$10M
Q1 23	$35M	$30M	$6M
Q2 23	$39M	$31M	$7M
Q3 23	$42M	$33M	$10M
Q4 23	$42M	$32M	$8M
Q1 24	$44M	$34M	$11M
Q2 24	$46M	$37M	$12M
Q3 24	$51M	$38M	$12M
Q4 24	$55M	$43M	$13M
Q1 25	$56M	$47M	$18M
Q2 25	$61M	$48M	$16M
Q3 25	$63M	$51M	$35M
Q1 26	$45M	$0	$15M

Valuation

Quarter	P/S	P/E
Q1 22	2.0x	8.2x
Q2 22	1.9x	8.3x
Q3 22	1.8x	7.8x
Q4 22	2.3x	10.1x
Q1 23	1.9x	9.3x
Q2 23	1.5x	7.6x
Q3 23	1.4x	7.9x
Q4 23	1.8x	11.5x
Q1 24	1.6x	9.3x
Q2 24	1.8x	9.8x
Q3 24	2.1x	12.0x
Q4 24	2.2x	11.7x
Q1 25	2.0x	9.8x
Q2 25	2.3x	11.5x
Q3 25	2.0x	7.6x
Q1 26	2.2x	7.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$37M	$36M
Q1 22	$20M	$19M
Q2 22	-$5M	-$5M
Q3 22	$26M	$25M
Q4 22	$37M	$36M
Q1 23	$4M	$3M
Q2 23	-$27M	-$29M
Q3 23	$11M	$9M
Q4 23	$50M	$49M
Q1 24	-$6M	-$7M
Q2 24	-$38M	-$39M
Q3 24	-$201.0K	-$330.0K
Q4 24	$36M	$37M
Q1 25	$17M	$16M
Q2 25	-$4M	-$5M
Q3 25	$93M	$90M

Capital Expenditures

Quarter	CapEx
Q4 21	$451.0K
Q1 22	$1M
Q2 22	$491.0K
Q3 22	$601.0K
Q4 22	$2M
Q1 23	$1M
Q2 23	$2M
Q3 23	$2M
Q4 23	$683.0K
Q1 24	$1M
Q2 24	$894.0K
Q3 24	$129.0K
Q4 24	$1M
Q1 25	$208.0K
Q2 25	$316.0K
Q3 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-15.4%	+3.6%
Q2 22	-10.4%	+6.6%
Q3 22	+6.8%	+4.1%
Q4 22	+13.9%	+17.0%
Q1 23	+12.4%	+31.9%
Q2 23	+26.0%	+30.2%
Q3 23	+17.1%	+38.7%
Q4 23	+16.2%	+28.4%
Q1 24	+25.8%	+15.8%
Q2 24	+19.8%	+9.6%
Q3 24	+20.3%	+22.5%
Q4 24	+29.3%	+21.9%
Q1 25	+27.7%	+15.2%
Q2 25	+32.2%	+30.8%
Q3 25	+23.5%	-27.8%
Q1 26	-18.1%	-27.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$332.0K	1.0%
Q1 22	$187.0K	0.6%
Q2 22	$190.0K	0.6%
Q3 22	$191.0K	0.5%
Q4 22	$174.0K	0.5%
Q1 23	$140.0K	0.4%
Q2 23	$225.0K	0.6%
Q3 23	$254.0K	0.6%
Q4 23	$318.0K	0.7%
Q1 24	$208.0K	0.5%
Q2 24	$219.0K	0.5%
Q3 24	$265.0K	0.5%
Q4 24	$221.0K	0.4%
Q1 25	$232.0K	0.4%
Q2 25	$327.0K	0.5%
Q3 25	$363.0K	0.6%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$15M	$425.0K
Q2 22	$16M	$814.0K
Q3 22	$15M	$524.0K
Q4 22	$8M	$984.0K
Q1 23	$16M	$564.0K
Q2 23	$16M	$933.0K
Q3 23	$16M	$499.0K
Q4 23	$16M	$933.0K
Q1 24	$16M	$513.0K
Q2 24	$17M	$690.0K
Q3 24	$18M	$860.0K
Q4 24	$19M	$965.0K
Q1 25	$18M	$672.0K
Q2 25	$22M	$1M
Q3 25	$20M	$508.0K
Q1 26	—	$901.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$337M	$612M	$949M
Q3 22	$407M	$652M	$1.1B
Q4 22	$259M	$677M	$936M
Q1 23	$139M	$678M	$817M
Q2 23	$37M	$671M	$708M
Q3 23	$111M	$652M	$763M
Q4 23	$119M	$638M	$756M
Q1 24	$80M	$592M	$673M
Q2 24	$54M	$585M	$639M
Q3 24	$103M	$545M	$648M
Q4 24	$63M	$479M	$541M
Q1 25	$66M	$463M	$529M
Q2 25	$141M	$429M	$571M
Q3 25	$213M	$419M	$632M
Q4 25	$36M	$421M	$457M
Q1 26	$33M	$418M	$451M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	24M	-2.9%	-4.5%
Q2 22	23M	-3.2%	-7.5%
Q3 22	23M	-1.1%	-8.4%
Q4 22	23M	+0.5%	-6.6%
Q1 23	23M	-0.2%	-4.0%
Q2 23	23M	-1.4%	-2.2%
Q3 23	23M	-0.9%	-2.0%
Q4 23	22M	-0.8%	-3.3%
Q1 24	22M	-0.4%	-3.5%
Q2 24	22M	+0.1%	-2.1%
Q3 24	22M	+0.4%	-0.7%
Q4 24	22M	+0.3%	+0.4%
Q1 25	22M	+0.2%	+1.0%
Q2 25	22M	+0.1%	+0.9%
Q3 25	22M	+0.1%	+0.6%
Q1 26	23M	+0.5%	+0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$68.5K	451
Q2 22	$68.3K	451
Q3 22	$80.3K	451
Q4 22	$77.8K	469
Q1 23	$74.0K	469
Q2 23	$82.7K	469
Q3 23	$90.4K	469
Q4 23	$89.9K	472
Q1 24	$92.5K	472
Q2 24	$98.5K	472
Q3 24	$108.1K	472
Q4 24	$109.0K	503
Q1 25	$110.9K	503
Q2 25	$122.1K	503
Q3 25	$125.3K	503
Q1 26	$87.0K	516

Revenue / Employee