Northrim BanCorp (NRIM) investor relations material

Executive summary

• Net income for Q1 2026 was $13.7 million, or $0.61 per diluted share, up from $12.4 million ($0.55/share) in Q4 2025 and $13.3 million ($0.60/share) in Q1 2025, driven by higher net interest and mortgage banking income, partially offset by increased operating expenses and credit loss provisions.

• Core loan and deposit growth continued, with normalized operating expenses and investments in people and technology supporting profitable growth and market share expansion.

Financial highlights

• Net interest income was $34.7 million, down 2% sequentially but up 11% year-over-year; NIMTE was 4.77%, up 2 bps from Q4 2025 and 16 bps from Q1 2025.

• Return on average assets (ROAA) was 1.69% and return on average equity (ROAE) was 16.60%, compared to 1.50% and 15.16% in Q4 2025, and 1.76% and 19.70% in Q1 2025.

• Total assets reached $3.35 billion, up 2% sequentially and 7% year-over-year; portfolio loans were $2.36 billion, up 3% sequentially and 11% year-over-year.

• Total deposits were $2.87 billion, up 2% from Q4 2025 and 3% from Q1 2025; non-interest bearing demand deposits rose 14% sequentially and 11% year-over-year.

• Efficiency ratio improved to 61.81% from 64.70% in Q4 2025.

Outlook and guidance

• Management expects continued core loan and deposit growth, supported by investments in technology and customer relationships.

• Sufficient liquidity is anticipated for the foreseeable future, with $1.06 billion in liquid assets and $606.2 million in available borrowing capacity.