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ANCHORAGE - Northrim BanCorp, Inc. (NASDAQ:NRIM) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.64 per share, payable on September 12, 2025, to shareholders of record as of September 4, 2025. According to InvestingPro data, the company has maintained dividend payments for 31 consecutive years, with 15 straight years of dividend increases.
At the August 21 closing price of $87.41 per share, the dividend represents an annualized yield of 2.93%. The stock is currently trading near its InvestingPro Fair Value, with a P/E ratio of 10.73 and strong financial health metrics.
The Alaska-based community bank reported second-quarter 2025 net income of $11.8 million, or $2.09 per diluted share, compared to $13.3 million, or $2.38 per diluted share, in the first quarter of 2025. In the second quarter of 2024, the company reported $9.0 million in net income, or $1.62 per diluted share. The company has demonstrated robust revenue growth of 28.34% over the last twelve months.
"We are pleased to announce a quarterly dividend of $0.64 per share, as we continue to provide returns to our shareholders," said Mike Huston, President and CEO, in the press release.
Northrim BanCorp is the parent company of Northrim Bank, which operates 20 branches throughout Alaska. The company also owns two subsidiaries: Sallyport Commercial Finance, LLC, a specialty finance company, and Residential Mortgage, LLC, a regional home mortgage company.
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