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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Interest and fees on loans and loans held for sale $ 14,341 $ 13,866 $ 41,180 $ 41,354
Interest on investment securities available for sale 1,043 930 3,417 2,863
Interest on investment securities held to maturity 17 14 49 41
Interest on deposits in other banks 118 50 230 138
Total Interest Income 15,519 14,860 44,876 44,396
Interest Expense        
Interest expense on deposits 429 473 1,325 1,423
Interest expense on securities sold under agreements to repurchase 9 7 25 22
Interest expense on borrowings 54 36 130 107
Interest expense on junior subordinated debentures 110 131 402 378
Total Interest Expense 602 647 1,882 1,930
Net Interest Income 14,917 14,213 42,994 42,466
Provision for loan losses 2,500 652 3,200 1,555
Net Interest Income After Provision for Loan Losses 12,417 13,561 39,794 40,911
Other Operating Income        
Mortgage banking income 6,219 8,341 18,020 22,547
Gain on sale of Northrim Benefits Group 4,443 0 4,443 0
Employee benefit plan income 609 999 2,506 2,899
Purchased receivable income 752 579 2,217 1,644
Bankcard fees 603 687 1,789 1,995
Service charges on deposit accounts 406 516 1,254 1,525
Gain (loss) on sale of securities, net (3) 0 11 (11)
Other income 765 813 2,168 2,305
Total Other Operating Income 13,794 11,935 32,408 32,904
Other Operating Expense        
Salaries and other personnel expense 11,115 12,158 33,750 35,420
Occupancy expense 1,706 1,567 4,991 4,872
Data processing expense 1,448 1,207 4,095 3,586
Marketing expense 332 500 1,733 1,853
Professional and outside services 674 675 1,908 2,017
Insurance expense 475 265 922 844
OREO expense, net rental income and gains on sale (44) (32) 216 70
Loss on disposal of premises and equipment 0 6 3 365
Intangible asset amortization expense 26 35 79 106
Compensation expense - RML acquisition payments 149 3,250 323 4,067
Other operating expense 1,749 1,555 4,682 4,726
Total Other Operating Expense 17,630 21,186 52,702 57,926
Income Before Provision for Income Taxes 8,581 4,310 19,500 15,889
Provision for income taxes 2,980 1,027 6,236 4,594
Net Income 5,601 3,283 13,264 11,295
Less: Net income attributable to the noncontrolling interest 78 188 327 474
Net Income Attributable to Northrim BanCorp, Inc. $ 5,523 $ 3,095 $ 12,937 $ 10,821
Earnings Per Share, Basic (in USD per share) $ 0.80 $ 0.45 $ 1.88 $ 1.57
Earnings Per Share, Diluted (in USD per share) $ 0.79 $ 0.44 $ 1.85 $ 1.55
Weighted Average Shares Outstanding, Basic (in shares) 6,872,273 6,882,482 6,897,577 6,878,921
Weighted Average Shares Outstanding, Diluted (in shares) 6,959,035 6,973,354 6,983,778 6,968,557