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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Interest and fees on loans $ 14,135 $ 13,082 $ 27,602 $ 23,953
Interest on investment securities available for sale 759 750 1,644 1,480
Interest on investment securities held to maturity 25 22 48 45
Interest on deposits in other banks 24 41 35 90
Total Interest Income 14,943 13,895 29,329 25,568
Interest Expense        
Interest expense on deposits, borrowings and junior subordinated debentures 748 484 1,502 924
Net Interest Income 14,195 13,411 27,827 24,644
Provision for loan losses 376 (1,136) 702 (1,136)
Net Interest Income After Provision for Loan Losses 13,819 14,547 27,125 25,780
Other Operating Income        
Mortgage banking income 7,839 0 15,122 0
Employee benefit plan income 931 878 1,708 1,754
Electronic banking income 700 604 1,322 1,104
Service charges on deposit accounts 568 607 1,058 1,083
Purchased receivable income 562 484 1,151 965
Gain on sale of securities, net 16 349 130 446
Equity in earnings from RML 0 355 0 224
Other income 947 829 1,607 1,264
Total Other Operating Income 11,563 4,106 22,098 6,840
Other Operating Expense        
Salaries and other personnel expense 11,125 6,839 21,675 12,759
Occupancy expense 1,594 1,112 3,198 1,989
Professional and outside services 791 219 1,542 624
Marketing expense 642 394 1,259 1,008
Change in fair value, RML earn-out liability 587 0 2,089 0
Equipment expense 428 359 862 657
Insurance expense 345 284 669 469
Software expense 337 354 649 614
Internet banking expense 227 213 447 413
Intangible asset amortization expense 72 81 145 133
Merger and acquisition expense 0 312 0 705
Reserve for (recovery from) purchased receivables (18) 243 (72) 206
OREO (income) expense, net rental income and gains on sale (121) (9) 176 (247)
Other operating expense 1,744 1,219 3,575 2,258
Total Other Operating Expense 17,753 11,620 36,214 21,588
Income Before Provision for Income Taxes 7,629 7,033 13,009 11,032
Provision for income taxes 2,686 2,569 4,433 3,866
Net Income 4,943 4,464 8,576 7,166
Less: Net income attributable to the noncontrolling interest 162 95 234 139
Net Income Attributable to Northrim BanCorp, Inc. $ 4,781 $ 4,369 $ 8,342 $ 7,027
Earnings Per Share, Basic (USD per share) $ 0.70 $ 0.64 $ 1.22 $ 1.05
Earnings Per Share, Diluted (USD per share) $ 0.69 $ 0.63 $ 1.20 $ 1.04
Weighted Average Shares Outstanding, Basic (shares) 6,854,338 6,829,897 6,854,264 6,683,897
Weighted Average Shares Outstanding, Diluted (shares) 6,941,671 6,919,568 6,938,879 6,774,434