Business
In this document, please note that references to "we", "our", "us", or the "Company" mean Northrim BanCorp, Inc. and its subsidiaries, unless the context suggests otherwise.
We are a publicly traded bank holding company headquartered in Anchorage, Alaska. The Company's common stock trades on the Nasdaq Global Select Stock Market ("NASDAQ") under the symbol, "NRIM." The Company is regulated by the Board of Governors of the Federal Reserve System. We began banking operations in Anchorage in December 1990, and formed the Company as an Alaska corporation in connection with our reorganization into a holding company structure; that reorganization was completed effective December 31, 2001. The Company has grown to be the third largest commercial bank in Alaska and in Anchorage in terms of deposits, with $1.2 billion in total deposits and $1.5 billion in total assets at December 31, 2018. Through our fifteen banking branches and twelve mortgage origination offices, we are accessible to approximately 90% of the Alaska population.
The Company has three direct wholly-owned subsidiaries:
Valuation ($BB)
Market Cap , Enterprise Value
Balance Sheet ($BB)
Assets , Equity
Income Statement ($BB Quarterly)
Revenue , G Profit , Net Income
Cash Flow ($BB Quarterly)
Ops , Inv , Fin
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Comps ($MM TTM)
Market Cap
Gross Margin
EV/EBITDA
Ret on Assets
Assets
Liabilities
Revenue
G Profit
Net Income
EBITDA
EV
Waterstone Financial (WSBF)
460
16.2
1%
2,005
1,618
0
0
27
56
910
Farmers & Merchants Bancorp (FMAO)
314
5.9
1%
1,575
1,347
0
0
17
34
200
Territorial Bancorp (TBNK)
282
0%
5.3
1%
2,086
1,840
2
0
23
48
253
Northrim Bancorp (NRIM)
277
0%
5.5
1%
1,617
1,413
3
0
21
33
185
Provident Bancorp (PVBC)
258
13.7
1%
1,031
899
0
0
10
23
311
PDL Community Bancorp (PDLB)
257
13.5
0%
1,100
939
0
0
3
15
209
Western New England Bancorp (WNEB)
254
0%
11.2
1%
2,174
1,942
0
0
14
41
460
Codorus Valley Bancorp (CVLY)
231
4.5
1%
1,869
1,680
0
0
18
45
200
BCB Bancorp (BCBP)
215
-2.4
1%
2,825
2,602
0
0
20
67
-162
First Capital (FCAP)
198
0%
13.3
1%
823
726
4
0
10
15
198
First Guaranty Bancshares (FGBI)
189
5.2
1%
1,805
1,643
0
0
10
37
189
BankFinancial (BFIN)
186
0%
1.3
1%
1,492
1,318
3
0
16
35
45
Riverview Bancorp (RVSB)
174
5.7
1%
1,173
1,030
0
0
17
27
153
Malvern Bancorp (MLVF)
171
0%
0.6
1%
1,265
1,123
2
0
9
31
17
1st Constitution Bancorp (FCCY)
165
0%
4.4
1%
1,343
1,204
0
0
14
33
144
Provident Financial (PROV)
157
7.8
0%
1,105
983
0
0
5
13
102
First Savings Financial Group (FSFG)
147
0%
3.1
1%
1,223
1,101
4
0
18
34
106
Oconee Federal Financial (OFED)
143
11.0
1%
522
433
0
0
4
10
108
Citizens Community Bancorp (CZWI)
129
8.1
1%
1,475
1,327
0
0
7
29
235
Salisbury Bancorp (SAL)
110
2.8
1%
1,144
1,033
0
0
8
20
57
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Balance Sheet ($MM) 2011-06-30 2011-09-30 2011-12-31 2012-03-31 2012-06-30 2012-09-30 2012-12-31 2013-03-31 2013-06-30 2013-09-30 2013-12-31 2014-03-31 2014-06-30 2014-09-30 2014-12-31 2015-03-31 2015-06-30 2015-09-30 2015-12-31 2016-03-31 2016-06-30 2016-09-30 2016-12-31 2017-03-31 2017-06-30 2017-09-30 2017-12-31 2018-03-31 2018-06-30 2018-09-30 2018-12-31 2019-03-31 2019-06-30 2019-09-30 Cash 144 129 80 80 97 149 141 89 94 72 86 95 84 126 69 43 104 145 59 79 75 46 51 81 26 87 78 84 36 70 78 79 71 92 Accounts Receivable 15 26 30 22 24 23 19 27 14 16 10 17 14 15 15 14 14 13 12 14 16 20 14 20 13 22 19 20 13 14 21 13 14 Inventory PP&E 29 28 28 28 28 28 45 28 28 28 47 28 32 35 56 36 38 39 62 40 39 39 64 40 40 40 57 37 38 39 60 39 39 39 Assets 1,049 1,066 1,085 1,076 1,072 1,134 155 1,151 1,165 1,179 1,215 1,204 1,356 1,421 1,449 1,448 1,500 1,539 1,499 1,500 1,518 1,540 1,527 1,513 1,493 1,523 1,519 1,525 1,470 1,503 1,503 1,520 1,553 1,617 Accounts Payable Long-Term Debt 24 7 34 32 35 42 Liabilities 927 942 960 948 942 1,000 64 1,013 1,025 1,037 1,071 1,058 1,199 1,261 1,285 1,281 1,329 1,364 1,322 1,320 1,334 1,354 1,340 1,323 1,301 1,329 1,326 1,330 1,271 1,299 1,297 1,311 1,346 1,413 Stockholders' Equity 122 123 125 128 130 134 136 138 140 143 144 146 157 159 164 167 171 175 177 180 184 185 187 189 192 194 193 Copy Income Statement ($MM) 2011-06-30 2011-09-30 2011-12-31 2012-03-31 2012-06-30 2012-09-30 2012-12-31 2013-03-31 2013-06-30 2013-09-30 2013-12-31 2014-03-31 2014-06-30 2014-09-30 2014-12-31 2015-03-31 2015-06-30 2015-09-30 2015-12-31 2016-03-31 2016-06-30 2016-09-30 2016-12-31 2017-03-31 2017-06-30 2017-09-30 2017-12-31 2018-03-31 2018-06-30 2018-09-30 2018-12-31 2019-03-31 2019-06-30 2019-09-30 Revenue 1 2 2 1 2 Cost of Revenue Gross Profit R&D SG&A 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 0 1 1 1 0 1 1 0 0 0 1 0 Tax 1 1 1 1 3 2 2 1 2 2 1 1 2 2 2 2 3 3 2 2 2 1 1 2 4 4 4 1 1 1 1 1 1 2 Net Income 3 3 3 3 3 4 3 3 4 3 3 3 4 4 7 4 5 6 4 4 5 3 4 4 4 6 0 4 6 5 5 4 4 8 Copy Cash Flow ($MM) 2011-06-30 2011-09-30 2011-12-31 2012-03-31 2012-06-30 2012-09-30 2012-12-31 2013-03-31 2013-06-30 2013-09-30 2013-12-31 2014-03-31 2014-06-30 2014-09-30 2014-12-31 2015-03-31 2015-06-30 2015-09-30 2015-12-31 2016-03-31 2016-06-30 2016-09-30 2016-12-31 2017-03-31 2017-06-30 2017-09-30 2017-12-31 2018-03-31 2018-06-30 2018-09-30 2018-12-31 2019-03-31 2019-06-30 2019-09-30 Cash Operating 5 -23 19 -7 -10 31 2 3 -7 6 9 12 -21 -5 18 18 8 -17 -9 38 21 -25 -1 24 5 -18 11 9 -27 -5 Cash Investing -34 -43 -6 32 5 -59 -35 -7 29 3 -28 -53 -9 21 -8 -66 7 8 -42 -21 27 -8 40 -28 -3 31 -8 -6 -0 -28 Cash Financing 14 16 -12 -8 56 21 -20 10 -13 -20 61 -17 4 46 30 -38 5 4 23 -13 -18 -22 22 -5 4 -60 31 -2 19 54