Financial Performance - Northrim's net income for Q2 2024 was $902 million, with an EPS of $162[7] - The net interest margin (NIM) for Q2 2024 was 424%[7] - The return on average assets (ROAA) for Q2 2024 was 131% and the return on average equity (ROAE) was 1484%[7] Balance Sheet & Capital - Total loans reached $1876 billion in Q2 2024[7] - Total deposits amounted to $2464 billion in Q2 2024[7] - The ratio of total capital to risk-adjusted assets was 1258%[7] Asset Quality - Non-Performing Assets (NPAs) to total assets, net of government guarantees, was 018%[7] - The total loan ACL (Allowance for Credit Losses) to portfolio loans was 094%[7] Market Position & Strategy - Northrim's deposit market share has increased by 478 basis points since 2018[12] - The company originated approximately 5,800 PPP loans totaling $613 million[5] - Approximately 20% of outstanding shares have been repurchased in the last 5 years[12] Dividend & Shareholder Value - The quarterly dividend is $061 per share, resulting in an annualized dividend of $244[9] - The dividend yield, based on a price of $6892 as of July 24, 2024, is 354%[9]

Financial Performance (Q3 2024) - Net income reached $8.825 million, resulting in earnings per share (EPS) of $1.57[7] - The net interest margin (NIM) stood at 4.29%[7] - Return on average assets (ROAA) was 1.22%, and return on average equity (ROAE) was 13.69%[7] - Total loans amounted to $2.008 billion, while total deposits reached $2.626 billion[7] Loan Portfolio & Asset Quality - The loan portfolio is diversified, with commercial real estate (CRE) non-owner occupied loans comprising 29% of the total portfolio[23] - Non-performing assets (NPAs) to total assets, net of government guarantees, was 0.18%[7] - Total loan ACL (Allowance for Credit Losses) to portfolio loans was 0.97%[7] Deposits & Market Share - The bank's deposit market share has increased by 540 basis points since 2018[12] - Non-interest bearing deposits constitute 29% of the total deposit composition[14] Capital Management & Shareholder Value - The bank has repurchased approximately 20% of outstanding shares in the last 5 years[14] - The dividend per share has increased by 100% in the last 4 years, currently at $0.62 per share per quarter[14] - Tangible book value (TBV) per share reached $44.36 as of September 2024[7] Strategic Initiatives & Market Opportunities - The bank is benefiting from branch expansion strategy due to competitor pull back[14] - The bank is positioned to benefit from approximately $6 billion in various federal infrastructure projects over the next 5 years[15]

Financial Performance - Net income for Q4 2024 was $10927 million, resulting in earnings per share of $195[8] - The net interest margin (NIM) increased to 441% in Q4 2024[8] - Return on average assets (ROAA) reached 143% in Q4 2024[8] - Return on average equity (ROAE) was 1632% in Q4 2024[8] Balance Sheet - Total loans outstanding reached $2129 billion[8] - Total deposits amounted to $2680 billion[8] - The ratio of total capital to risk-adjusted assets was 1094%[8] Asset Quality - Non-performing assets (NPAs) to total assets, net of government guarantees, stood at 038%[8] - The total loan ACL (Allowance for Credit Losses) to portfolio loans was 103%[8] Shareholder Value - A cash dividend of $064 per share is payable on March 14, 2025[15] - Approximately 21% of shares have been repurchased since 2019[15] - Tangible book value (TBV) per share has shown a compound annual growth rate (CAGR) of 65% since 2014[15] Market Position and Strategy - Northrim's deposit market share has increased by 540 basis points since 2018[17] - The bank's loan yields have averaged 564% over the last 10 years, compared to 495% in the US[19] - Interest-bearing deposit costs have averaged 44 bps over the last 10 years, compared to 72 bps in the US[19]

Financial Performance - Net income for Q1 2025 was $13324 million, resulting in earnings per share of $238[8] - Net interest margin increased to 455% in Q1 2025[8] - Return on average assets (ROAA) reached 176% in Q1 2025[8] - Return on average equity (ROAE) was 1970% in Q1 2025[8] Balance Sheet - Total loans amounted to $2124 billion in Q1 2025[8] - Total deposits reached $2778 billion in Q1 2025[8] - The bank repurchased approximately 21% of its shares since 2019[16] Asset Quality - Non-performing assets (NPAs) to total assets, net of government guarantees, stood at 039%[8] - The allowance for credit losses (ACL) to portfolio loans was 098%[8] Strategic Initiatives - The bank's deposit market share has increased by 540 basis points since 2018[18] - Approximately 27% of the bank's deposits are non-interest bearing[20]

Market Overview - U.S. stock markets are experiencing a positive trend after recent volatility, with the S&P 500 near its all-time high, and both the Nasdaq Composite and Dow showing positive year-to-date performance [1] - Factors contributing to this market sentiment include ongoing U.S.-China trade negotiations, stability in the U.S. labor market, and a declining inflation rate, which have encouraged investment in equities [2] Stock Performance - A selection of stocks has demonstrated significant price strength, particularly those on a bull run, indicating potential for continued momentum [2][3] - Five highlighted stocks include Sezzle Inc. (SEZL), Dycom Industries Inc. (DY), Tutor Perini Corp. (TPC), Limbach Holdings Inc. (LMB), and Northrim BanCorp Inc. (NRIM) [3] Screening Parameters - Stocks were screened based on several criteria, including: - Percentage Change in Price (4 Weeks) greater than zero, indicating recent upward movement [5] - Percentage Change Price (12 Weeks) greater than 10%, suggesting sustained momentum over three months [5] - Zacks Rank 1, indicating a strong buy rating with historical outperformance [6] - Average Broker Rating of 1, reflecting positive broker sentiment [6] - Current Price above $5, ensuring stocks are trading at a reasonable level [6] - Current Price/52-Week High-Low Range greater than 85%, indicating strong price performance [7] Individual Stock Highlights - **Sezzle Inc. (SEZL)**: Stock price surged 35.7% in four weeks, with expected earnings growth of 76.1% for the current year [8][9] - **Dycom Industries Inc. (DY)**: Stock price increased 20.3% in four weeks, with a revenue outlook raised for fiscal 2026 after strong Q1 results, and expected earnings growth of 13.2% [10][12] - **Tutor Perini Corp. (TPC)**: Stock price rose 12.8% in four weeks, with expected earnings growth exceeding 100% for the current year [16] - **Limbach Holdings Inc. (LMB)**: Stock price advanced 10.8% in four weeks, with expected earnings growth of 21.9% [18] - **Northrim BanCorp Inc. (NRIM)**: Stock price increased 4.9% in four weeks, with expected earnings growth of 45.9% [20]

Core Viewpoint - Northrim BanCorp (NRIM) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][2]. Earnings Estimate Revisions - The upward trend in earnings estimate revisions reflects growing optimism among analysts regarding Northrim's earnings prospects, which is expected to positively impact its stock price [2]. - The Zacks Rank system indicates a strong correlation between earnings estimate revisions and near-term stock price movements, with Northrim benefiting from this trend [2][3]. Current Quarter and Year Estimates - For the current quarter, Northrim is expected to earn $2.26 per share, representing a year-over-year increase of +39.51%, with a 17.1% increase in the Zacks Consensus Estimate over the last 30 days [5]. - For the full year, the expected earnings per share is $9.66, reflecting a year-over-year change of +45.92%, with a 20% increase in consensus estimates over the past month [6][7]. Zacks Rank and Performance - Northrim currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in revising earnings estimates upward, which historically leads to outperformance [8]. - Stocks with Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500 [8]. Recent Stock Performance - Northrim shares have increased by 22.7% over the past four weeks, indicating investor confidence in the company's earnings growth prospects [9].

Core Viewpoint - Northrim BanCorp Inc (NRIM) has reached a significant support level and is considered a good investment opportunity from a technical perspective due to the recent "golden cross" formation in its moving averages [1] Technical Analysis - NRIM's 50-day simple moving average has recently broken above its 200-day moving average, indicating a bullish breakout [1] - A golden cross is characterized by a downtrend followed by a crossover of the shorter moving average over the longer moving average, leading to a potential trend reversal and upward price movement [2] Performance Metrics - NRIM has experienced a rally of 22.7% over the past four weeks, indicating strong momentum [3] - The company currently holds a 1 (Strong Buy) rating on the Zacks Rank, suggesting a favorable outlook for investors [3] Earnings Outlook - There has been one upward revision in earnings estimates for NRIM over the past 60 days, with no downward revisions, indicating positive sentiment [3] - The Zacks Consensus Estimate for NRIM's earnings has also increased, further strengthening the bullish case for the company [4]

Group 1 - Northrim BanCorp has a market capitalization of $402.3 million, indicating it is a relatively small financial institution [1] - The company continues to surprise with its performance, suggesting potential for growth and value [1] Group 2 - Crude Value Insights offers an investing service focused on oil and natural gas, emphasizing cash flow and companies that generate it [1] - The service includes a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - Subscribers can participate in live chat discussions about the sector, enhancing community engagement [2]

Financial Performance - The Company reported net income of $13.3 million and earnings per diluted share of $2.38 for Q1 2025, compared to $8.2 million and $1.48 for Q1 2024, reflecting a significant increase in purchased receivable income and net interest income [130]. - Net income for Q1 2025 increased by $5.1 million to $13.3 million compared to $8.2 million in Q1 2024, driven by higher purchased receivable income and net interest income [135]. - Other operating income surged by $6.4 million, or 81%, to $14.2 million in Q1 2025, primarily due to a $4.8 million increase in purchased receivable income [147]. - Northrim's effective tax rate increased to 24.19% in Q1 2025 from 21.94% in Q1 2024, with income tax expense rising to $4.3 million [149]. Interest Income and Loans - Net interest income increased by 18% to $31.3 million in Q1 2025 from $26.4 million in Q1 2024, with a net interest margin of 4.55%, up 31 basis points year-over-year [132]. - Net interest income rose 18% or $4.9 million to $31.3 million in Q1 2025, up from $26.4 million in Q1 2024, with a net interest margin increase of 31 basis points to 4.55% [137]. - The average yield on loans increased to 6.89% in Q1 2025 from 6.75% in Q1 2024, while the average yield on interest-earning assets rose to 6.03% [141]. - Total loans slightly decreased by $4.9 million to $2.124 billion as of March 31, 2025, from $2.129 billion at December 31, 2024, mainly due to the reclassification of $100.4 million in residential properties [152]. Deposits and Funding - Total deposits reached $2.78 billion at March 31, 2025, a 4% increase from December 31, 2024, with demand deposits representing 27% of total deposits [132]. - Total deposits increased by $97.8 million, or 4%, to $2.78 billion as of March 31, 2025, compared to $2.68 billion at December 31, 2024 [161]. - Uninsured deposits totaled approximately $1.04 billion, or 37% of total deposits, as of March 31, 2025, down from $1.1 billion, or 40%, at December 31, 2024 [163]. - The company's mix of deposits contributed to a low cost of funds, with transaction accounts representing 86% of total deposits as of March 31, 2025 [161]. Asset Quality - Nonperforming loans increased by 6% to $8.0 million as of March 31, 2025, primarily due to the addition of four loans in the first three months of 2025 [133]. - Potential problem loans identified by management increased significantly to $12.5 million at March 31, 2025, up from $1.6 million at December 31, 2024 [134]. - Nonperforming loans increased to $8.068 million as of March 31, 2025, from $7.533 million at December 31, 2024 [156]. - The allowance for credit losses (ACL) for loans held for investment decreased by $1.1 million from December 31, 2024, primarily due to the reclassification of loans [160]. Investments and Securities - Investment securities decreased by 3% to $508.5 million as of March 31, 2025, from $524.1 million at December 31, 2024, primarily due to maturities and calls [150]. - The fair value of marketable equity securities increased by $364,000 in Q1 2025 compared to the same quarter in 2024 [147]. - The average estimated duration of the investment portfolio was approximately 2.4 years as of March 31, 2025, with $319.4 million or 11% of earning assets scheduled to mature in the next 24 months [151]. - The Company’s accumulated unrealized losses on available for sale securities were $5.5 million as of March 31, 2025 [170]. Capital and Borrowing - The Company met all applicable capital adequacy requirements for a "well-capitalized" institution, with total risk-based capital at 10.62% and Tier 1 risk-based capital at 9.76% as of March 31, 2025 [176]. - The Company had cash and cash equivalents of $65.5 million, representing 2% of total assets, an increase from $62.7 million at December 31, 2024 [170]. - The Company had total unfunded commitments to fund loans and letters of credit of $523.2 million as of March 31, 2025 [170]. - As of March 31, 2025, the Company's maximum borrowing line from the FHLB is $374.8 million, which is approximately 45% of the Bank's assets [164]. Employment and Economic Indicators - The unemployment rate in Alaska was reported at 4.7% in February 2025, compared to the U.S. rate of 4.1%, with a total payroll job increase of 1.6% year-over-year [118]. - Alaska's Gross State Product (GSP) reached $70 billion in 2024, with a real GSP increase of 1.5% for the year, outperforming the national average [121]. - The average sales price of single-family homes in Anchorage rose by 6.2% in 2024 to $510,109, marking the seventh consecutive year of price increases [126]. Shareholder Information - The Company has 10.0 million authorized shares of common stock, with approximately 5.5 million issued and outstanding, leaving 4.5 million shares available for issuance [168]. - The Company had no long-term borrowings outstanding other than the FHLB advances as of March 31, 2025 [167]. - The Company had no short-term borrowings exceeding 30% of shareholders' equity as of March 31, 2025 [166].

Northrim BanCorp (NRIM) came out with quarterly earnings of $2.38 per share, beating the Zacks Consensus Estimate of $1.56 per share. This compares to earnings of $1.48 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 52.56%. A quarter ago, it was expected that this holding company for Northrim Bank would post earnings of $1.70 per share when it actually produced earnings of $1.95, delivering a surprise of 14.71%. There are no ...