Dividend Releases

Northrim BanCorp, Inc. Declares Cash Dividend of $0.15 per Share

Date: May 17, 2013
Contact: Joe Schierhorn
Phone: 907-261-3308

ANCHORAGE, AK—May 17, 2013,—Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced its Board of Directors approved its regular quarterly cash dividend of $0.15 per share. The dividend will be paid on June 14, 2013, to shareholders of record as of the close of business on June 6, 2013.

“Northrim has paid a cash dividend each quarter since 1995. At the same time we have invested in growing our franchise and building our bank to provide better products and services to our customers,” said Marc Langland, Northrim’s Chairman, President and CEO.

On April 23, Northrim reported first quarter 2013 net profits rose 4% to $2.7 million, or $0.41 per diluted share, from $2.6 million, or $0.39 per diluted share in the first quarter of 2012. Because Northrim increased lending, its loan portfolio grew 9% over the preceding 12 months to $721.6 million. In total, the increase in loans, improving asset quality and an increase in net interest income contributed to first quarter earnings. 

Northrim BanCorp, Inc. Declares Cash Dividend of $0.15 per Share

Date: February 22, 2013
Contact: Joe Schierhorn
Phone: 907-261-3308

ANCHORAGE, AK—February 22, 2013,—Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be distributed on March 22, 2013, to shareholders of record as of the close of business on March 14, 2013.

“We view regular cash dividends as an excellent means of building shareholder value and rewarding our loyal shareholders,” said Marc Langland, President and CEO.

On January 23, Northrim reported 2012 net profits rose 14% to $12.9 million, or $1.97 per diluted share from $11.4 million, or $1.74 per diluted share in 2011. Profitability was supported by improving asset quality, coupled with a stable local economy and an increase in loan volume.

Northrim BanCorp Declares Quarterly Cash Dividend of $0.15 per Share

Date: November 16, 2012
Contact: Joe Schierhorn
Phone: 907-261-3308

ANCHORAGE, AK— November 16, 2012 - Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced its Board of Directors declared its regular quarterly cash dividend of $0.15 per share up from $0.13 per share in the year ago quarter. The dividend will be paid December 14, 2012, to shareholders of record at the close of business December 6, 2012. Northrim has paid a regular quarterly cash dividend since 1995, and offers a current annualized dividend yield of 2.89% at current market share prices.

"With good profitability and continued growth in both shareholders’ equity and regular dividends, we continue to build value for our shareholders," said Marc Langland, Chairman, President and CEO of Northrim BanCorp, Inc.

Northrim BanCorp recently reported net profits of $4.1 million, or $0.62 per diluted share, in the third quarter of 2012, compared to $3.1 million, or $0.48 per diluted share in the preceding quarter and $2.5 million or $0.38 per diluted share in the third quarter a year ago. Third quarter earnings were positively impacted by net recoveries of previously charged-off loans totaling $1.4 million and continuing strong revenue from Northrim’s residential mortgage affiliate. For the first nine months of 2012, Northrim earned $9.8 million, or $1.49 per diluted share, up from $8.1 million, or $1.24 per diluted share in the like period a year ago.

Northrim BanCorp Declares Quarterly Cash Dividend of $0.15 per Share

Date: August 17, 2012
Contact: Joe Schierhorn
Phone: 907-261-3308

ANCHORAGE, AK— August 17, 2012 - Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced its Board of Directors increased its regular quarterly cash dividend 15% to $0.15 per share from $0.13 per share in the preceding quarter. The dividend will be paid September 14, 2012, to shareholders of record at the close of business September 6, 2012. Northrim has paid a regular quarterly cash dividend since 1995, and offers a current annualized dividend yield of 2.86% at current market share prices.

"Our Alaska franchise continues to generate solid profitability, providing for steady growth in shareholders’ equity and regular dividend payments," said Marc Langland, Chairman, President and CEO of Northrim BanCorp, Inc."

Northrim BanCorp recently reported net profits of $3.1 million, or $0.48 per diluted share, in the second quarter of 2012, compared to $2.6 million, or $0.39 per diluted share, in the preceding quarter and $3.2 million, or $0.49 per diluted share, in the second quarter a year ago. Loan growth, increasing contributions from affiliated businesses, and continued improvements in loan quality generated solid profitability in the second quarter and in the first six months of 2012, compared to similar periods in 2011. For the first six months of 2012, Northrim earned $5.7 million, or $0.87 per diluted share, up from $5.6 million, or $0.86 per diluted share, in the first half of 2011.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, a commercial bank that provides personal and business banking services through locations in Anchorage, Eagle River, Wasilla, and Fairbanks, Alaska, and an asset based lending division in Washington. The bank differentiates itself with a "Customer First Service" philosophy. Affiliated companies include Elliott Cove Capital Management, LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.

Investor information is provided in the event that you are interested in considering Northrim BanCorp, Inc. stock as an investment. Northrim does not sell its own stock and this is not a solicitation for you to purchase stock. It is simply an informational service. It is important that you understand that Northrim BanCorp, Inc. stock is not FDIC insured and should not be confused with Northrim Bank deposit products.