NORTHRIM BANCORP INC Q2 2026: Revenue $47.15M, EPS $0.68— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Northrim Bancorp Inc reported Q2 2026 revenue of $47.15M and diluted EPS of $0.68, up 30.8% year-over-year, driven by higher net interest income and mortgage banking gains. Net income reached $15.34M. The company also announced an all-stock merger agreement to acquire PBCO, expanding into Oregon with a targeted close in late 2026 or early 2027.
NORTHRIM BANCORP INC reported second-quarter 2026 results with revenue of $47.15M and net income of $15.34M, or diluted EPS of $0.68, reflecting year‑over‑year gains driven by higher net interest income and mortgage banking gains.
Financial Highlights
- Revenue: $47.15M for Q2 2026 (total interest & dividend income; consolidated other operating income included).
- Net income: $15.34M for Q2 2026, up from $11.78M in Q2 2025 (30.2% YoY).
- Diluted EPS: $0.68 for Q2 2026, up from $0.52 in Q2 2025 (30.8% YoY).
Business Highlights
- Profit growth: Net income rose to $15.3M for the quarter and $29.0M year‑to‑date, driven mainly by higher net interest income and gains in mortgage banking.
- Deposits and funding: Total deposits grew 4% to $2.92B; noninterest demand deposits increased 6%, supporting low funding costs and liquidity.
- Loan growth and originations: Portfolio loans increased 4% to $2.39B with growth in commercial & industrial, commercial real estate and 1–4 family residential lending, plus retained originations.
- Costs and efficiency: Q2 operating expense was flat year‑over‑year; year‑to‑date personnel and data costs rose, while FDIC insurance and marketing expenses declined.
- Strategic move: The company signed an all‑stock merger agreement to acquire PBCO, expanding into Oregon with a targeted close in Q4 2026 or Q1 2027.
Original SEC Filing: NORTHRIM BANCORP INC [ NRIM ] - 10-Q - Jul. 31, 2026
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.