Northrim Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 28, 2020 at 03:08 am IST
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Northrim BanCorp, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 16.410 million compared to USD 16.137 million a year ago. Net income was USD 4.580 million compared to USD 4.848 million a year ago. Basic earnings per share was USD 0.7 compared to USD 0.7 a year ago. Diluted earnings per share was USD 0.69 compared to USD 0.69 a year ago. For the full year, net interest income was USD 64.442 million compared to USD 61.208 million a year ago. Net income was USD 20.691 million compared to USD 20.004 million a year ago. Basic earnings per share was USD 3.08 compared to USD 2.91 a year ago. Diluted earnings per share was USD 3.04 compared to USD 2.86 a year ago.
Northrim BanCorp, Inc. is a bank holding company. The Company is primarily engaged in the delivery of business and personal banking services through its wholly owned banking subsidiary, Northrim Bank (the Bank). It operates through two segments: Community Banking and Home Mortgage Lending. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Home Mortgage Lending segment's principal business focus is the origination and sale of mortgage loans for one-to-four family residential properties. The Bank also engages in retail mortgage origination services through its wholly owned subsidiary, Residential Mortgage Holding Company, LLC. Additionally, the Bank, through its wholly owned subsidiary, Northrim Funding Services (NFS), operates a factoring division in Bellevue, Washington. The Bank has about 19 branches in Anchorage, the Matanuska Valley, Soldotna, Juneau, and others.
NORTHRIM BANCORP, INC. 
