Exhibit 99.1 Contact: Mike Huston, President, CEO, and COO (907) 261-8750 Jed Ballard, Chief Financial Officer (907) 261-3539 NEWS RELEASE Northrim BanCorp Earns $13.3 Million, or $2.38 Per Diluted Share, in First Quarter 2025 ANCHORAGE, Alaska - April 23, 2025 - Northrim BanCorp, Inc. (NASDAQ:NRIM) ("Northrim" or the "Company") today reported net income of $13.3 million, or $2.38 per diluted share, in the first quarter of 2025, compared to $10.9 million, or $1.95 per diluted share, in the fourth quarter of ...

ANCHORAGE, Alaska, April 23, 2025 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $13.3 million, or $2.38 per diluted share, in the first quarter of 2025, compared to $10.9 million, or $1.95 per diluted share, in the fourth quarter of 2024, and $8.2 million, or $1.48 per diluted share, in the first quarter a year ago. The increase in first quarter 2025 profitability as compared to the first quarter a year ago was primarily the result of an ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its ...

Core Viewpoint - Northrim BanCorp (NRIM) presents a compelling investment opportunity with a strong dividend yield and expected earnings growth, making it attractive for income investors [3][5][7]. Company Overview - Northrim BanCorp is headquartered in Anchorage and has experienced a price change of -12.36% this year [3]. - The company currently pays a dividend of $0.64 per share, resulting in a dividend yield of 3.75%, which is higher than the Banks - West industry's yield of 3.01% and the S&P 500's yield of 1.73% [3]. Dividend Analysis - The current annualized dividend of Northrim BanCorp is $2.56, reflecting a 4.1% increase from the previous year [4]. - Over the past five years, the company has increased its dividend five times, achieving an average annual increase of 17.33% [4]. - The current payout ratio is 37%, indicating that the company paid out 37% of its trailing 12-month earnings per share as dividends [4]. Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate for Northrim BanCorp's earnings is $8.05 per share, which represents a year-over-year growth rate of 21.60% [5]. Investment Considerations - Dividends are favored by investors for various reasons, including improving stock investing profits and providing tax advantages [6]. - While tech start-ups and high-growth companies rarely offer dividends, larger, established companies like Northrim BanCorp do [7]. - The stock has a strong Zacks Rank of 2 (Buy), indicating positive market sentiment [7].

Financial Performance - Net income increased 46% to $37.0 million or $6.62 per diluted share for the year ended December 31, 2024, compared to $25.4 million or $4.49 per diluted share for the year ended December 31, 2023[219]. - Total revenue for 2024 was $155,224,000, compared to $129,631,000 in 2023, representing a 20% growth[230]. - Net income for 2024 was $37.0 million, an increase of 45.5% from $25.4 million in 2023, with diluted earnings per share rising from $4.49 to $6.62[232]. - Return on average equity increased to 14.70% in 2024 from 11.17% in 2023, reflecting an 8% growth rate[225]. - Cash dividends paid increased 1% to $13.8 million in 2024, with cash dividends per share rising to $2.46 from $2.40 in 2023[224]. Segment Performance - Net income in the Community Banking segment increased 19% or $4.9 million to $30.3 million in 2024, driven by a 7% increase in net interest income[221]. - Net income in the Home Mortgage Lending segment increased 292% or $7.3 million to $4.8 million in 2024 from a loss of $2.5 million in 2023, with production volume sold rising to $609.2 million in 2024 from $376.2 million in 2023[221]. Asset and Loan Growth - Loans increased 19% to $2.13 billion at December 31, 2024, compared to $1.79 billion at December 31, 2023, while deposits increased 8% to $2.68 billion[221]. - Total assets increased to $3,041,869,000 in 2024 from $2,807,497,000 in 2023, reflecting an 8% growth[228]. - The company's loans have grown significantly, attributed to the "Land and Expand" program aimed at attracting new customers and converting them into full banking relationships[256]. - Total loans increased to $2,129,263, representing a 15% growth rate over the past five years[257]. Interest Income and Margin - The net interest margin increased to 4.28% in 2024 from 4.14% in 2023, primarily due to higher average yields on interest-earning assets[221]. - Net interest income increased to $113.2 million in 2024 from $103.3 million in 2023, driven by a $26.1 million rise in interest income on loans[234]. - Total interest income increased by $21.968 million in 2024, with $14.792 million attributed to volume changes and $7.176 million to rate changes[237]. Credit Quality and Allowance for Losses - Nonperforming loans increased to $7.5 million at the end of 2024 from $5.0 million at the end of 2023[221]. - The Allowance for Credit Losses totaled 1.03% of total portfolio loans at December 31, 2024, compared to 0.97% at December 31, 2023[221]. - The allowance for credit losses (ACL) was $22,020, representing 1.03% of total portfolio loans[266]. Operational Efficiency - Efficiency ratio improved to 67.60% in 2024 from 72.64% in 2023, showing a 5% enhancement in operational efficiency[230]. - Total other operating expenses increased by 11% to $104,937,000 in 2024, with salaries and other personnel expenses rising by $6,106,000, largely due to increased mortgage production[246][247]. Investment and Securities - Investment securities decreased by 24% to $524,100,000 as of December 31, 2024, down from $687,800,000 in 2023, due to investment maturities and calls used to fund loan growth[251]. - The average maturity of the investment portfolio was approximately 2.4 years as of December 31, 2024, compared to 2.8 years in 2023[251]. Dividends and Share Repurchase - The Company repurchased 15,034 common shares at a weighted average price of $52.46 in 2024, compared to 208,673 shares at $43.34 in 2023[286]. Interest Rate Risk Management - The Asset and Liability Committee manages interest rate and price risks, establishing policies and tolerance ranges for interest rate sensitivity to achieve financial objectives[318]. - Interest rate risk is assessed using income simulations, with key assumptions including loan and deposit volumes, prepayment speeds, and cash flows, highlighting the complexity of interest rate management[319]. - The company uses derivatives in its Home Mortgage Lending segment to hedge interest rate risk, indicating a strategic approach to managing financial exposure[322]. Future Outlook - The Company plans to maintain capital ratios exceeding FDIC requirements for the "well-capitalized" classification in 2025[289]. - The Company expects to continue receiving dividends from the Bank during 2025, as it meets all applicable capital adequacy requirements[280].

Financial Performance - Northrim BanCorp reported net income of $10.9 million, or $1.95 per diluted share, in Q4 2024, a 24% increase from $8.8 million, or $1.57 per diluted share, in Q3 2024[1]. - For the full year 2024, net income increased 46% to $37.0 million, or $6.62 per diluted share, compared to $25.4 million, or $4.49 per diluted share, in 2023[2]. - Northrim BanCorp reported earnings of $10.9 million, or $1.95 per diluted share for 4Q24[61]. - Diluted earnings per share for the year ended December 31, 2024, was $0.86, compared to a loss of $0.44 in 2023[36]. Asset and Deposit Growth - Total assets exceeded $3 billion for the first time, reaching $3,041.9 million at December 31, 2024[6]. - Total deposits increased 2% from the previous quarter to $2.68 billion, and rose 8% from $2.49 billion a year ago[7]. - Northrim's total assets increased to $3.04 billion at December 31, 2024, reflecting a 3% increase from the previous quarter and an 8% increase year-over-year[39]. - Total deposits rose to $2.68 billion, up 2.1% from $2.63 billion in Q3 2024, with interest-bearing demand deposits increasing to $1.11 billion[60]. Loan Portfolio - Portfolio loans were $2.13 billion at December 31, 2024, up 6% from the preceding quarter and up 19% from a year ago[7]. - Portfolio loans reached $2.13 billion, a 6.1% increase from $2.01 billion in Q3 2024, with commercial real estate loans comprising 49% of the total[59]. - The loan-to-deposit ratio was 79% at December 31, 2024, up from 76% at September 30, 2024, and 72% at December 31, 2023[39]. Interest Income and Margin - Net interest income in Q4 2024 rose 7% to $30.8 million from $28.8 million in Q3 2024, and increased 15% from $26.7 million in Q4 2023[7]. - Total interest income for Q4 2024 was $41.8 million, up 16.4% from $35.9 million in Q4 2023, driven by an increase in interest and fees on loans[57]. - Northrim's NIMTE increased to 4.47% in Q4 2024, up from 4.35% in Q3 2024 and 4.12% in Q4 2023, driven by a favorable mix of earning-assets and higher yields[20]. - The net interest margin (NIM) for Q4 2024 improved to 4.41%, up from 4.06% in Q4 2023[68]. Efficiency and Operating Expenses - The efficiency ratio improved to 66.96% in Q4 2024, down from 72.21% in Q4 2023[6]. - Operating expenses increased to $29.4 million in Q4 2024, compared to $26.7 million in Q3 2024 and $24.0 million in Q4 2023, driven by higher salaries and one-time deal costs related to the acquisition of Sallyport[25]. - The bank's efficiency ratio improved to 69.1% in Q4 2024, down from 70.5% in Q3 2024, reflecting better cost management[57]. Nonperforming Loans and Credit Quality - Nonperforming loans rose to $7.5 million at the end of Q4 2024, compared to $5.0 million at the end of Q3 2024 and Q4 2023[22]. - The provision for credit losses was $1.2 million in Q4 2024, a decrease from $2.1 million in Q3 2024 and an increase from $885,000 in Q4 2023, primarily due to higher loan and purchased receivable balances[21]. - The allowance for credit losses on loans was 1.03% of portfolio loans, compared to 0.97% in the previous quarter[61]. Specialty Finance Segment - The acquisition of Sallyport Commercial Finance for approximately $53.9 million is expected to diversify fee income and enhance profitability[7]. - The acquisition of Sallyport Commercial Finance, valued at approximately $53.9 million, was completed on October 31, 2024, establishing a new Specialty Finance segment[37]. - Total revenue for the Specialty Finance segment in Q4 2024 was $3.865 million, significantly up from $1.191 million in Q3 2024[38]. Mortgage Banking - Mortgage loans funded for sale decreased to $162.5 million in Q4 2024, with 89% for home purchases, down from $210.0 million in Q3 2024[30]. - The net change in fair value of mortgage servicing rights increased mortgage banking income by $873,000 in Q4 2024, with the mortgage servicing portfolio valued at $294.1 million[33]. - Northrim serviced 6,378 loans in its $1.46 billion home mortgage servicing portfolio as of December 31, 2024, a 25% increase from Q3 2024 and a 40% increase from a year ago[34]. - The bank's mortgage banking income for the year was $24 million, significantly higher than $12.8 million in the previous year, showcasing growth in this segment[57]. Shareholder Equity - Shareholders' equity increased to $267.1 million, or $48.41 book value per share, compared to $260.1 million in the previous quarter[47]. - Total shareholders' equity rose to $267,116 million in Q4 2024, up from $234,718 million in Q4 2023, marking a growth of 13.8%[70]. - Total shareholders' equity as a percentage of total assets was 8.78%, consistent with the previous quarter[64].

Core Points - Northrim BanCorp, Inc. declared a regular quarterly cash dividend of $0.64 per share, payable on March 14, 2025, to shareholders of record as of March 6, 2025 [1] - The current dividend yield is 3.25% based on a stock price of $78.80 per share as of January 23, 2025 [2] - For the fourth quarter of 2024, Northrim reported a net income of $10.9 million, or $1.95 per diluted share, an increase from $8.8 million, or $1.57 per diluted share in the third quarter of 2024, and $6.6 million, or $1.19 per diluted share in the fourth quarter of the previous year [3] Company Overview - Northrim BanCorp, Inc. is the holding company for Northrim Bank, which operates 20 branches in Alaska and focuses on the local economy with a "Customer First Service" philosophy [4] - The company has two wholly-owned subsidiaries: Sallyport Commercial Finance, LLC, a specialty finance company, and Residential Mortgage Holding Company, LLC, a regional home mortgage company [4]

Core Viewpoint - Northrim BanCorp (NRIM) reported quarterly earnings of $1.95 per share, exceeding the Zacks Consensus Estimate of $1.70 per share, and showing a significant increase from $1.19 per share a year ago, indicating strong financial performance [1] Group 1: Earnings Performance - The company achieved an earnings surprise of 14.71% for the recent quarter, having previously expected earnings of $1.53 per share but delivering $1.57, resulting in a surprise of 2.61% [1][2] - Over the last four quarters, Northrim has consistently surpassed consensus EPS estimates [2] Group 2: Revenue Performance - Northrim reported revenues of $43.87 million for the quarter ended December 2024, which is 4.21% above the Zacks Consensus Estimate and a notable increase from $33.22 million in the same quarter last year [2] - The company has also exceeded consensus revenue estimates in each of the last four quarters [2] Group 3: Stock Performance and Outlook - Northrim shares have increased by approximately 1.1% since the beginning of the year, while the S&P 500 has gained 4% [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Group 4: Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $1.66, with expected revenues of $44.1 million, and for the current fiscal year, the estimate is $7.96 on revenues of $188.1 million [7] - The estimate revisions trend for Northrim is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Group 5: Industry Context - The Zacks Industry Rank for Banks - West places it in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Financial Performance - Northrim BanCorp reported a net income of $10.9 million, or $1.95 per diluted share, in Q4 2024, an increase from $8.8 million, or $1.57 per diluted share, in Q3 2024, and $6.6 million, or $1.19 per diluted share, in Q4 2023 [1][2] - For the full year 2024, net income increased by 46% to $37.0 million, or $6.62 per diluted share, compared to $25.4 million, or $4.49 per diluted share, in 2023 [2] - The increase in profitability in Q4 2024 was driven by higher mortgage banking income, net interest income, and purchased receivable income, partially offset by increased operating expenses and credit loss provisions [1][2] Income and Expenses - Net interest income in Q4 2024 rose by 7% to $30.8 million compared to $28.8 million in Q3 2024 and increased by 15% from $26.7 million in Q4 2023 [5][18] - Operating expenses were $29.4 million in Q4 2024, up from $26.7 million in Q3 2024 and $24.0 million in Q4 2023, primarily due to increased salaries and one-time deal costs related to the acquisition of Sallyport [24][41] Acquisition Impact - The acquisition of Sallyport Commercial Finance, completed on October 31, 2024, for approximately $53.9 million, is expected to diversify fee income and enhance profitability [1][40] - The Specialty Finance segment, which includes Sallyport, generated $3.9 million in revenue in Q4 2024, significantly contributing to overall income [41] Mortgage Banking Segment - Mortgage loans funded for sale decreased to $162.5 million in Q4 2024, with 89% for home purchases, compared to $210.0 million in Q3 2024 [30] - The net change in fair value of mortgage servicing rights increased mortgage banking income by $873,000 in Q4 2024, contributing to overall revenue growth [33] Balance Sheet Highlights - Total assets reached $3.04 billion at December 31, 2024, up 3% from the previous quarter and 8% year-over-year [43] - Portfolio loans increased to $2.13 billion, a 6% rise from the preceding quarter and a 19% increase from a year ago [49] - Total deposits were $2.68 billion, reflecting a 2% increase from the previous quarter and an 8% increase year-over-year [5][49] Market Position and Growth - Northrim's deposit market share in Alaska increased from 11% to 16% over the past five years, with loans and deposits nearly doubling [4] - The company opened several new branches in Alaska, contributing to its growth strategy and market presence [26][27]

Group 1 - Northrim BanCorp, Inc. (NASDAQ: NRIM) has been identified as a successful investment pick over the past year [1] - The focus of Crude Value Insights is on cash flow and companies that generate it, leading to value and growth prospects [1] Group 2 - Subscribers have access to a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - The service includes live chat discussions about the oil and gas sector [2] Group 3 - A two-week free trial is available for new subscribers to explore the oil and gas investment opportunities [3]