Northrim BanCorp: A Very Interesting Bank, But Currently Not Cheap Enough

Gary Yeowell One week after the release of Q2 2024, Northrim BanCorp's (NASDAQ:NRIM) price per share has plummeted 6.50% even though its results have been quite good. NIM continues to rise, the cost of deposits is surprisingly low, and shareholder remuneration remains one of the strengths. Probably, the motivation behind this negative performance stems not from the quarterly report itself, but from the uncertainty of where interest rates will be in the future. The Fed has decided to keep them high despite w ...