Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.41 per Share
February 25 2022 - 8:00AM
Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the
Board of Directors declared a regular quarterly cash dividend of
$0.41 per share. The dividend will be payable on March 18, 2022, to
shareholders of record at the close of business on March 10, 2022.
“We are committed to providing returns to our
shareholders through earnings growth and paying regular quarterly
cash dividends,” said Joe Schierhorn, President and CEO. At the
stock price of $41.52 per share at the close of the market on
February 24, 2022, the current dividend equates to a yield of 3.95%
on an annualized basis.
On January 28, 2022, Northrim reported net income of $8.11
million, or $1.31 per diluted share, in the fourth quarter of 2021,
compared to $8.88 million, or $1.42 per diluted share, in the third
quarter of 2021, and $10.10 million, or $1.59 per diluted share, in
the fourth quarter a year ago. Fourth quarter 2021 profitability
was fueled by core loan growth, fee and interest income from the
Small Business Administration's ("SBA") Paycheck Protection Program
("PPP") loans, and the overall growth in earnings assets.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of
Northrim Bank, an Alaska-based community bank with 17 branches in
Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan,
Sitka and Soldotna, and a loan production office in Kodiak, serving
90% of Alaska’s population; and an asset based lending division in
Washington; and a wholly-owned mortgage brokerage company,
Residential Mortgage Holding Company, LLC. The Bank differentiates
itself with its detailed knowledge of Alaska’s economy and its
“Customer First Service” philosophy. Pacific Wealth Advisors, LLC
is an affiliated company of Northrim BanCorp.
www.northrim.com
Contact: |
Joe
Schierhorn, President, CEO, and COO |
|
(907)
261-3308 |
|
Jed Ballard,
Chief Financial Officer |
|
(907)
261-3539 |
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