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NORTHRIM NEWS

Northrim BanCorp Earns $2.7 Million, or $0.40 Per Diluted Share, in 1Q14; Completes Acquisition of Alaska Pacific Bancshares, Inc.

ANCHORAGE, Alaska, April 22, 2014 -- Northrim BanCorp, Inc. today reported net profits of $2.7 million, or $0.40 per diluted share, for the first quarter of 2014, consistent with earnings in both the fourth and first quarters of 2013. A 6% increase in portfolio loans as compared to the first quarter of the prior year helped to generate a 6% increase in net interest income year-over-year that was offset by a 13% decrease in non-interest income and a 6% increase in other operating expenses over the same period a year ago.

 

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Investment and insurance products are:
Not insured by the FDIC or any other federal government agency.
Not a deposit of or guaranteed by Northrim Bank.
May lose value.


Deposit and loan products offered by Northrim Bank, Member FDIC.