Northrim BanCorp Q2 2026: Net Income Climbs to $15.3M, NIM Expands, but NPAs Surge
NRIM sits 41% above its 52-week low of $19.6.
Summary
Northrim BanCorp reported Q2 2026 net income of $15.3 million ($0.68/share), up from $13.7 million in Q1, with net interest margin expanding to 5.01%. Nonperforming assets jumped to $23.0 million, concentrated in one relationship.
Key Events · Earnings and Guidance · NRIM
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Q2 Net Income Beats Q1
Net income of $15.3 million, or $0.68 per diluted share, up from $13.7 million ($0.61) in Q1 2026 and $11.8 million ($0.52) in Q2 2025.
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Net Interest Margin Expands
Net interest income rose 7% sequentially to $37.1 million; NIMTE expanded 24 bps to 5.01%, driven by higher loan yields and lower deposit costs.
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Nonperforming Assets Spike
NPAs, net of government guarantees, increased to $23.0 million from $15.3 million in Q1 2026, primarily due to one well-collateralized commercial relationship.
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Provision for Credit Losses Rises
Provision for credit losses increased to $1.6 million from $960,000 in Q1 2026, reflecting loan growth and higher qualitative factors for NPAs.
Analysis · NRIM · Finance
A strong second quarter saw net income climb 12% sequentially to $15.3 million, fueled by an 11% year-over-year increase in net interest income and a 24-basis-point expansion in the net interest margin to 5.01%. The bank continues to benefit from loan repricing and lower deposit costs, while tangible book value per share rose to $13.34. However, nonperforming assets nearly doubled from the prior quarter to $23.0 million, concentrated in one well-collateralized commercial relationship, and the provision for credit losses rose to $1.6 million. The earnings beat and margin expansion are notable, but the sharp increase in NPAs warrants attention given the bank's Alaska-focused loan book and exposure to oil and gas sectors.
How filings like this one have moved
In the 30 days to Sep 17, 2026, 29.7% of the 1739 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.34%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, NRIM was trading at $27.55 on NASDAQ in the Finance sector, with a market capitalization of approximately $612.8M. The 52-week trading range was $19.60 to $30.82. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.