Northrim BanCorp Inc (NRIM) Financial Statements (2024 and earlier)

Company Profile

Business Address P O BOX 241489
ANCHORAGE, AK 99524-1489
State of Incorp. AK
Fiscal Year End December 31
Industry (SIC) 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments131,683270,090654,247125,017103,36984,803
Cash and cash equivalents118,530259,350645,827115,96595,42477,538
Short-term investments13,15310,7408,4209,0527,9457,265
Financing receivable, accrued interest, after allowance for credit loss7,4005,500  
Total current assets:139,083275,590654,247125,017103,36984,803
Noncurrent Assets
Operating lease, right-of-use asset9,0929,86811,00112,44014,306
Property, plant and equipment40,69337,82137,16438,10238,42239,090
Long-term investments and receivables 1,2601,9252,2192,4622,2322,259
Long-term investments 1,2601,9252,2192,4622,2322,259
Intangible assets, net (including goodwill)15,96715,98416,00916,04616,09416,154
Goodwill15,01715,01715,01715,01715,01715,017
Intangible assets, net (excluding goodwill)9509679921,0291,0771,137
Investment, proportional amortization method, elected, amount 27,99217,28920,64024,14227,84119,243
Total noncurrent assets:95,00482,88787,03393,19298,89576,746
Other undisclosed assets2,573,4102,315,8411,983,4391,903,5891,441,7321,341,439
TOTAL ASSETS:2,807,4972,674,3182,724,7192,121,7981,643,9961,502,988
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      34,278
Total current liabilities:      34,278
Noncurrent Liabilities
Liabilities, other than long-term debt 13,9611,0334,4479,86611,2521,214
Investment program, proportional amortization method, elected, commitment 13,9611,0334,4479,86611,2521,214
Total noncurrent liabilities: 13,9611,0334,4479,86611,2521,214
Other undisclosed liabilities2,558,8182,454,6562,482,4551,890,3571,425,6271,261,549
Total liabilities:2,572,7792,455,6892,486,9021,900,2231,436,8791,297,041
Equity
Equity, attributable to parent234,718218,629237,817221,575207,117205,947
Common stock5,5135,7016,0156,2516,5596,883
Additional paid in capital9,60517,78431,16241,80850,51262,132
Accumulated other comprehensive income (loss)(16,437)(29,081)(3,406)18431(520)
Retained earnings236,037224,225204,046173,498149,615137,452
Total equity:234,718218,629237,817221,575207,117205,947
TOTAL LIABILITIES AND EQUITY:2,807,4972,674,3182,724,7192,121,7981,643,9961,502,988

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues113,25688,45079,75571,41465,91490,811
Net investment income113,25688,45079,68871,31663,07261,603
Other income      26,256
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(3,842)(1,846) (2,432)  
Gross profit:109,41486,60479,75568,98265,91490,811
Operating expenses(25,808)(23,660)(22,817)(21,045)(19,256)(17,806)
Other operating income, net
(Noninterest Income, Other Operating Income)
2,5502,5272,4502,469  
Operating income:86,15665,47159,38850,40646,65873,005
Nonoperating income
(Bank Owned Life Insurance Income)
  2,002    
Interest and debt expense(28,695)(5,213)(3,779)(6,051)(5,641)(2,969)
Other undisclosed loss from continuing operations before equity method investments, income taxes    (1,908)(14,892)(45,961)
Income from continuing operations before equity method investments, income taxes:57,46162,26055,60942,44726,12524,075
Other undisclosed loss from continuing operations before income taxes(25,853)(23,766)(7,616)   
Income from continuing operations before income taxes:31,60838,49447,99342,44726,12524,075
Income tax expense(6,214)(7,753)(10,476)(9,559)(5,434)(4,071)
Income from continuing operations:25,39430,74137,51732,88820,69120,004
Income before gain (loss) on sale of properties:37,51732,88820,69120,004
Net income available to common stockholders, diluted:25,39430,74137,51732,88820,69120,004

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:25,39430,74137,51732,88820,69120,004
Other comprehensive income (loss) (5,023)10,1991,360(1,600)951(59)
Other undisclosed comprehensive loss      
Comprehensive income:20,37140,94038,87731,28821,64219,945
Other undisclosed comprehensive income (loss), net of tax, attributable to parent17,667(35,874)(4,784)1,187  
Comprehensive income, net of tax, attributable to parent:38,0385,06634,09332,47521,64219,945

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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