Northrim BanCorp Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net interest income was $14,400,000 compared to $13,924,000 a year ago. Total interest income was $15,063,000 compared to $14,566,000 for the same period a year ago. Income before provision for income taxes was $5,899,000 compared to $9,129,000 a year ago. Net income attributable to the company was $4,106,000 or $0.59 per diluted share compared to $6,674,000 or $0.97 per diluted share a year ago. Tangible book value per share was $22.77 at December 31, 2015, compared to $23.99 per share as on December 31, 2014. Book value per share was $25.77 as on December 31, 2015 compared to $23.99 as on December 31, 2014. Return on average assets was 1.05% compared to 1.84% a year ago. Return on average equity was 9.37% compared to 16.40% a year ago. Excluding gains from acquisitions, securities and other asset sales, and merger related expenses, operating net income totaled $4,640,000 in the fourth quarter of 2015, or $0.67 per operating diluted share, compared to $5,390,000, or $0.78 per operating diluted share in the preceding quarter and $3,297,000 or $0.47 per operating diluted share in the fourth quarter of 2014. Total revenues were $24.5 million, up from $23.3 million reported for the same period last year.

For the year, the company reported net interest income was $56,909,000 compared to $52,293,000 a year ago. Total interest income was $59,780,000 compared to $54,346,000 for the same period a year ago. Income before provision for income taxes was $27,118,000 compared to $26,040,000 a year ago. Net income attributable to the company was $17,783,000 or $2.56 per diluted share compared to $17,408,000 or $2.54 per diluted share a year ago. Return on average assets was 1.20% compared to 1.30% a year ago. Return on average equity was 10.47% compared to 11.19% a year ago. In 2015, excluding gains from acquisitions, securities and other asset sales, and merger related expenses, operating net income increased 39% to $19,312,000, or $2.78 per operating diluted share, compared to $13,846,000, or $2.02 per operating diluted share in 2014.

For the fourth quarter, the company's net loan charge-offs for the 2015 fourth quarter were $72,000 compared to $20,000 a year ago.