Northrim BanCorp Shares $0.64 Dividend Announcement Highlights
Northrim BanCorp Announces Quarterly Cash Dividend
Northrim BanCorp, Inc. (NASDAQ: NRIM) has made an exciting announcement regarding its quarterly cash dividend for shareholders. The Board of Directors has declared a dividend of $0.64 per share, indicative of the company's commitment to delivering consistent returns to its investors. This dividend will be distributed to shareholders recorded by the company by June 5, and the payout will occur on June 13.
CEO’s Statement on Dividend Distribution
Expressing his satisfaction with this move, Mike Huston, President and CEO, stated, "We are pleased to announce a quarterly dividend of $0.64 per share, as we continue to provide returns to our shareholders." This decision is reflective of the company’s strong financial health and enhances the investment value at the current stock price of around $87.35, yielding an annualized return of approximately 2.93%.
Solid Financial Performance
In April, Northrim BanCorp reported impressive financial results, revealing a net income of $13.3 million for the first quarter of 2025, translating to $2.38 per diluted share. This is an improvement over the previous quarter's income of $10.9 million and shows significant growth from $8.2 million or $1.48 per diluted share in the same quarter last year. Such robust performance showcases the company’s effective operational strategies and market position.
About Northrim BanCorp
Northrim BanCorp serves as the parent company of Northrim Bank, a community bank located in Alaska. With 20 branches throughout the state, it prides itself on its in-depth understanding of the local economy and a strong focus on customer service. Furthermore, it includes two wholly-owned subsidiaries: Sallyport Commercial Finance, LLC, specializing in finance solutions, and Residential Mortgage Holding Company, LLC, focusing on home mortgages. Notably, Pacific Wealth Advisors, LLC is also associated with the bank, enhancing its financial service offerings.
Contact Information
For additional inquiries or information regarding Northrim BanCorp, you can reach out to:
Mike Huston
President, CEO, and COO
(907) 261-8750
Jed Ballard
Chief Financial Officer
(907) 261-3539
Frequently Asked Questions
What is the declared dividend amount by Northrim BanCorp?
Northrim BanCorp has declared a quarterly cash dividend of $0.64 per share.
When will the dividend be paid?
The dividend will be paid on June 13.
What was the financial performance of Northrim in the latest quarter?
Northrim reported a net income of $13.3 million for the first quarter of 2025.
Who is the CEO of Northrim BanCorp?
The CEO of Northrim BanCorp is Mike Huston.
Where can I find more information about Northrim BanCorp?
For more details about the company, you can refer to their official website.
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