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Stock impact report

Northrim BanCorp: Government Stimulus Program To Partially Offset The Adverse Effect Of Elevated Credit Costs [Seeking Alpha]

Northrim BanCorp Inc (NRIM) 
Last northrim bancorp inc earnings: 1/27 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: northrim.com
Company Research Source: Seeking Alpha
SummaryAround 30% of NRIM’s total loans are to COVID-19-sensitive industries. The high exposure will likely drive provision expense in the year ahead.NRIM funded $309 million worth of Paycheck Protection Program loans in the first part of April. The funded amount is quite large relative to NRIM’s asset size.NRIM is currently facing high credit risk, which will likely restrain the stock price in the coming months.After plunging in the first quarter of 2020, earnings of Northrim Bancorp, Inc. (NASDAQ:Substantial Exposure to Vulnerable Industries Poses Risks to EarningsNRIM posted a provision expense of $2 million in the first quarter of 2020, up from $0.8 million in the corresponding period last year. NRIM's provision expense will likely decline in the year ahead from the first quarter's high but remain above last year's level. The company has high exposure to vulnerable industries that will likely keep credit costs above normal in the last three quarters of this year. As mentioned in t Show less Read more
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