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Mar 31, 2021
Northrim BanCorp Q1 2021 Earnings Report
Northrim BanCorp's earnings increased in the first quarter of 2021.
Key Takeaways
Northrim BanCorp reported a net income of $12.2 million, or $1.94 per diluted share, in the first quarter of 2021. The company's profitability was driven by high production in the Home Mortgage Lending segment, loan and core deposit growth, and fee and interest income from PPP loans.
Net income increased to $12.2 million, or $1.94 per diluted share, compared to $1.03 million, or $0.16 per diluted share, in the first quarter a year ago.
Total revenue increased 60% to $35.4 million, compared to $22.1 million in the first quarter of 2020.
Net loans increased 45% to $1.53 billion at March 31, 2021, compared to $1.06 billion at March 31, 2020.
Total deposits increased 47% to $2.05 billion at March 31, 2021, compared to $1.40 billion at March 31, 2020.
Northrim BanCorp
Northrim BanCorp
Northrim BanCorp Revenue by Segment
Revenue by Segment
Community Banking Revenue
CapyFin.comHome Mortgage Lending Revenue
CapyFin.com Forward Guidance
This release may contain “forward-looking statements” as that term is defined for purposes of Section 21E of the Securities Exchange Act of 1934, as amended.