Northrim BanCorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018
January 28, 2019 at 04:15 pm EST
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Northrim BanCorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported total interest income of $17,207,000 against $15,232,000 a year ago. Net interest income was $16,137,000 against $14,684,000 a year ago. Net income was $4,848,000 against $214,000 a year ago. Basic EPS was $0.70 against $0.03 a year ago. Diluted EPS was $0.69 against $0.03 a year ago.
For the year, the company reported total interest income of $64,177,000 against $60,108,000 a year ago. Net interest income was $61,208,000 against $57,678,000 a year ago. Net income was $20,004,000 against $13,478,000 a year ago. Basic EPS was $2.91 against $1.91 a year ago. Diluted EPS was $2.86 against $1.88 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. 
