Northrim Bancorp Reports Modest Q1 Profit Growth Amid Rising Nonperforming Assets
NRIM sits 27% above its 52-week low of $19.6 on light trading volume (0.2× avg).
Summary
Northrim Bancorp reported a slight increase in Q1 2026 net income and EPS, with strong net interest income growth, but also a significant rise in nonperforming assets and credit loss provisions.
Key Events · Earnings and Guidance · NRIM
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Q1 2026 Financial Performance
Net income increased to $13.7 million ($0.61 diluted EPS) for Q1 2026, up from $13.3 million ($0.60 diluted EPS) in Q1 2025.
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Strong Net Interest Income Growth
Net interest income rose 10.9% year-over-year to $34.7 million, with the net interest margin expanding by 17 basis points to 4.72%.
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Increase in Nonperforming Assets
Nonperforming assets, net of government guarantees, increased 34.2% to $15.3 million at March 31, 2026, from $11.4 million at December 31, 2025.
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Higher Provision for Credit Losses
The company recorded a $960,000 provision for credit losses in Q1 2026, compared to a $1.4 million benefit in Q1 2025, primarily due to higher loan balances and individually evaluated loans.
Analysis · NRIM · Finance
Northrim Bancorp's first-quarter 2026 results show continued growth in net income and net interest income, driven by loan and deposit expansion and an improved net interest margin. However, a notable increase in nonperforming assets and a shift from a credit loss benefit to a provision indicate a potential deterioration in credit quality that warrants investor attention. While the company maintains strong capital ratios, the rise in problem loans presents a cautious outlook for future asset quality.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 35.2% of the 2649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NRIM was trading at $24.98 on NASDAQ in the Finance sector, with a market capitalization of approximately $555.5M. The 52-week trading range was $19.60 to $30.82. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.