Northrim BanCorp, Inc.

Northrim BanCorp, Inc. reported strong financial results for fiscal year 2025, with net income of $64.6 million, a significant increase from $37.0 million in 2024. Total revenue grew to $212.8 million from $155.2 million in the prior year, driven by a 21.4% increase in net interest income to $135.6 million and an 83.6% surge in other operating income to $77.2 million. The company's total assets reached $3.29 billion, up from $3.04 billion in 2024, while total deposits increased to $2.81 billion from $2.68 billion. Key drivers included robust loan growth, with net loans increasing to $2.27 billion, and a $14.5 million gain from the sale of Pacific Wealth Advisors. The efficiency ratio improved to 58.45% from 67.60% in 2024, reflecting better operational efficiency.

Key Takeaways