Northrim BanCorp (NRIM) investor relations material

Executive summary

• Q3 2026 net income was $14.4M, or $0.63 diluted EPS, versus $15.3M/$0.68 in Q2 and $27.1M/$1.20 YoY; higher credit provision and a prior-year asset-sale gain drove the YoY decline.

• Pre-provision, pre-tax net revenue rose 21% QoQ to $26.5M; record net interest income, deposit growth and NIMTE above 5% supported underlying performance.

• Adjusted net income was $13.4M and adjusted diluted EPS was $0.60, excluding the VISA-share gain and PBCO merger costs, net of tax.

Financial highlights

• Net interest income increased 5% QoQ to $38.9M and 10% YoY; total other operating income was $20.8M, versus $16.7M in Q2 and $31.2M YoY.

• Operating expenses were $33.2M, up from $32.0M QoQ and $30.3M YoY; Q3 included $993K of PBCO transaction costs.

• Total assets reached $3.58B, up 5% QoQ and 8% YoY; portfolio loans were $2.40B, up 1% QoQ and 8% YoY.

• Deposits were $3.05B, up 5% QoQ and YoY; noninterest-bearing demand deposits were $833.7M, down 4% YoY and 27% of deposits.

Outlook and guidance

• The all-stock PBCO acquisition is expected to close in Q1 2027, subject to shareholder, regulatory and other closing conditions; the planned combination is intended to create an institution with more than $4B in assets.

• Management cited $1.26B in liquid assets, investments and loans maturing within one year, plus $585.6M available under existing borrowing lines, as sufficient liquidity for foreseeable needs.