Northrim BanCorp Earns $15.3 Million, or $0.68 Per Diluted Share, in Second Quarter 2026

Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $15.3 million, or $0.68 per diluted share, in the second quarter of 2026, compared to $13.7 million, or $0.61 per diluted share, in the first quarter of 2026, and $11.8 million, or $0.52 per diluted share, in the second quarter a year ago. The increase in the second quarter 2026 profitability as compared to the second quarter a year ago was mostly due to an increase in net interest income. Dividends per share in the second quarter of 2026 remained consistent with quarterly dividends in 2025 and the first quarter of 2026 at $0.16 per share. “Another quarter of record net interest income and continued loan and deposit growth reflects the strength of our relationship-driven banking model and our disciplined execution,” said Mike Huston, Northrim's President and Chief Executive Officer. “Our investments in people, technology and customer relationships continue to drive profitable growth, expand our market presence, and create long-term value for our shareholders. We were also pleased to expand our footprint during the quarter with the opening of our Palmer branch, further strengthening our ability to serve communities across Alaska.” Second Quarter 2026 Highlights: Opened a branch in Palmer, Alaska, Northrim's 21st branch. Net interest income in the second quarter of 2026 increased 7% to $37.1 million compared to $34.7 million in the first quarter of 2026 and increased 11% compared to $33.6 million in the second quarter of 2025. Net interest margin on a tax equivalent basis (“NIMTE”) * was 5.01% for the second quarter of 2026, up 24-basis points from the first quarter of 2026 and up 29-basis points from the second quarter a year ago. Return on average assets (“ROAA”) was 1.84% and return on average equity (“ROAE”) was 17.77% for the second quarter of 2026 compared to ROAA of 1.69% and ROAE of 16.60% in the prior quarter and ROAA of 1.48% and ROAE of 16.37% for the second quarter of 2025. Portfolio loans were $2.39 billion at June 30, 2026, up 1% from the preceding quarter and up 8% from a year ago, primarily due to new customer relationships and expanding market share, as well as retaining certain mortgages originated by Residential Mortgage, a subsidiary of Northrim Bank (the “Bank”). Core loans (excluding consumer mortgages) were $2.13 billion at June 30, 2026, up 7% from a year ago. Total deposits were $2.92 billion at June 30, 2026, up 2% from the preceding quarter, and up 4% from $2.81 billion a year ago. Non-interest bearing demand deposits remained consistent with the preceding quarter and increased 6% year-over-year to $826.3 million at June 30, 2026 and represent 28% of total deposits. The average cost of interest-bearing deposits was 1.71% at June 30, 2026, down from 1.77% at March 31, 2026 and 2.04% at June 30, 2025. Average purchased receivables and loan balances for the Specialty Finance segment were $141.5 million for the second quarter of 2026, compared to an average balance of $132.2 million for the first quarter of 2026, and $124.1 million for the second quarter of 2025. Financial Highlights Three Months Ended (Dollars in thousands, except per share data) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Total assets $3,415,386 $3,354,908 $3,290,273 $3,312,332 $3,243,760 Total portfolio loans $2,386,328 $2,358,702 $2,295,499 $2,218,970 $2,202,115 Total deposits $2,918,788 $2,873,746 $2,813,029 $2,906,463 $2,809,170 Net income $15,342 $13,675 $12,441 $27,065 $11,778 Adjusted net income* $15,342 $13,675 $12,231 $16,195 $11,778 Diluted earnings per share $0.68 $0.61 $0.55 $1.20 $0.52 Adjusted...