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Northrim Bancorp

NRIM on Nasdaq. Northrim BanCorp sells banking and lending services to businesses and individuals in Alaska. Market value $549m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
14.7%five-year median

Yearly profit per dollar of owners' money: 15 cents. Above 10 is good.

Price to book
quarterly report to June 2026
1.6×

What you pay for each dollar of net assets: $1.58.

Earnings yield
past 12 months to June 2026
12.5%

Profit per $100 you pay: $12.50.

Quality score: 99 of 100. Price score: 85 of 100. Our list needs 70 on quality and 60 on price.

$24.65 a share, 26% above its 1-year low

Over the past year the price has ranged from $19.60 to $30.82.

Dividend: 2.7% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
n/a$134m$158m$196m$256m
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.01bn0.01bn0.01bn0.02bn0.02bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsStrong, 23.9% a year
  • Buying back its own sharesNo, 291% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $64 million last quarter, up 4% on a year ago.
  • Profit: $15 million, up 30% on a year ago.
  • Spare cash over the past 12 months: $186 million, up from $48 million.
  • About the same number of shares as a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$51m
December 2024$55m
March 2025$55m
June 2025$61m
September 2025$77m
December 2025$62m
March 2026$60m
June 2026$64m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$9m
December 2024$11m
March 2025$13m
June 2025$12m
September 2025$27m
December 2025$12m
March 2026$14m
June 2026$15m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
6 March 2026
Next quarterly (estimated, 10-Q)
30 October 2026

Who owns it

3 long-term investors we follow own it, unchanged from 3 last quarter. 156 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 5 insiders bought $174,126 of shares on the open market. 4 sold $584,420.

  • Thomas Linda C
    Director
    Bought
    Date
    8 September 2026
    Shares
    1,200
    Price
    $26.20
    Value
    $31,440
  • DRABEK ANTHONY
    Director
    Sold
    Date
    31 August 2026
    Shares
    1,200
    Price
    $25.52
    Value
    $30,624
  • Ballard Jed W
    EVP, CFO
    Sold
    Date
    28 August 2026
    Shares
    3,492
    Price
    $25.91
    Value
    $90,480
  • EDWARDS MARK DOUGLAS
    EVP, CCO of Northrim Bank
    Sold
    Date
    3 August 2026
    Shares
    2,000
    Price
    $27.00
    Value
    $54,000
  • EDWARDS MARK DOUGLAS
    EVP, CCO of Northrim Bank
    Sold
    Date
    31 July 2026
    Shares
    2,000
    Price
    $26.33
    Value
    $52,660
  • CRIQUI JASON ALEXANDER
    EVP, CBO of Northrim Bank
    Sold
    Date
    31 July 2026
    Shares
    13,488
    Price
    $26.44
    Value
    $356,657
  • Ballard Jed W
    EVP, CFO
    Bought
    Date
    30 January 2026
    Shares
    1,290
    Price
    $23.24
    Value
    $29,979
  • Huston Michael G.
    President, CEO, and COO
    Bought
    Date
    29 January 2026
    Shares
    1,500
    Price
    $22.80
    Value
    $34,200
  • Thomas Linda C
    Director
    Bought
    Date
    10 December 2025
    Shares
    800
    Price
    $24.95
    Value
    $19,960
  • HEGNA SHAUNA
    Director
    Bought
    Date
    9 December 2025
    Shares
    1,186
    Price
    $25.25
    Value
    $29,947

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 6 Mar 2026, plus the 10-Q filed 31 Jul 2026 and 4 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • Current economic conditions in the State of Alaska pose challenges for us and could adversely affect our financial condition and results of operations.

    Could happen
    Regulatory changes or limitations on the 8(a) Business Development Program administered by the U.S. Small Business Administration could negatively and disproportionately impact certain of our customers.

Read it in the annual report

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.