Northrim BanCorp Second Quarter 2018 Net Income Grows 62% to $5.8 Million, or $0.84 per Diluted Share, Reflecting Net Interest Margin Expansion and Lower Tax Rates
Northrim BanCorp Inc (NRIM)
Last northrim bancorp inc earnings: 1/27 04:15 pm
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Source: GlobeNewswire
ANCHORAGE, Alaska, July 30, 2018 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the "Company") today reported profits grew 62% to $5.8 million, or $0.84 per diluted share, in the second quarter of 2018 compared to $3.6 million, or $0.51 per diluted share, in the second quarter of 2017, and increased 44% from $4.1 million, or $0.58 per diluted share in the first quarter of 2018. Rising short-term interest rates contributed to profitability with net interest margin ("NIM") expanding to 4.50% and on a tax equivalent basis* ("NIMTE") expanding to 4.56%, as short-term investments repriced or matured and were reinvested at higher interest rates during the second quarter. In addition, earnings reflect a benefit from lower tax rates effective for 2018. Pretax, pre-provision profits increased 22% to $6.7 million in the second quarter of 2018 from $5.5 million in the second quarter a year ago and grew 36% from $4.9 million in the preceding quarter. Earnings for th
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NRIM
Earnings
- 4/24/24 - Beat
NRIM
Sec Filings
- 4/24/24 - Form 8-K
- 4/10/24 - Form 8-K
- 4/9/24 - Form DEFA14A
- NRIM's page on the SEC website