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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest Income        
Interest and fees on loans and loans held for sale $ 14,992 $ 14,341 $ 42,291 $ 41,180
Interest on investment securities available for sale 1,314 956 3,870 3,158
Dividends on marketable equity securities 86 87 252 259
Interest on investment securities held to maturity 0 11 0 31
Dividends on Federal Home Loan Bank stock 19 6 45 18
Interest on deposits in other banks 169 118 512 230
Total Interest Income 16,580 15,519 46,970 44,876
Interest Expense        
Interest expense on deposits 595 429 1,413 1,325
Interest expense on securities sold under agreements to repurchase 9 9 26 25
Interest expense on borrowings 59 54 174 130
Interest expense on junior subordinated debentures 98 110 286 402
Total Interest Expense 761 602 1,899 1,882
Net Interest Income 15,819 14,917 45,071 42,994
(Benefit) provision for loan losses 0 2,500 (300) 3,200
Net Interest Income After Provision for Loan Losses 15,819 12,417 45,371 39,794
Other Operating Income        
Revenue from contracts with customers 1,536 1,441 4,397 4,251
Purchased receivable income 767 752 2,474 2,217
Gain on sale of Northrim Benefits Group 0 4,443 0 4,443
Employee benefit plan income 0 609 0 2,506
Gain (loss) on sale of securities, net 0 (3) 0 11
Other income 872 765 2,457 2,168
Total Other Operating Income 8,673 13,855 24,449 32,522
Other Operating Expense        
Salaries and other personnel expense 11,261 11,115 33,208 33,750
Occupancy expense 1,687 1,706 4,407 4,991
Data processing expense 1,503 1,509 4,374 4,209
Impairment of equity method investment 804 0 804 0
Professional and outside services 727 674 1,780 1,908
Marketing expense 367 332 1,461 1,733
Insurance expense 171 475 645 922
OREO expense, net rental income and gains on sale 43 (44) 157 216
Intangible asset amortization expense 18 26 53 79
Compensation expense - RML acquisition payments 0 149 0 323
Other operating expense 1,518 1,749 4,611 4,685
Total Other Operating Expense 18,099 17,691 51,500 52,816
Income Before Provision for Income Taxes 6,393 8,581 18,320 19,500
Provision for income taxes 1,129 2,980 3,164 6,236
Net Income 5,264 5,601 15,156 13,264
Less: Net income attributable to the noncontrolling interest 0 78 0 327
Net Income Attributable to Northrim BanCorp, Inc. $ 5,264 $ 5,523 $ 15,156 $ 12,937
Earnings Per Share, Basic (in USD per share) $ 0.77 $ 0.80 $ 2.21 $ 1.88
Earnings Per Share, Diluted (in USD per share) $ 0.75 $ 0.79 $ 2.17 $ 1.85
Weighted Average Shares Outstanding, Basic (in shares) 6,877,194 6,872,273 6,873,843 6,897,577
Weighted Average Shares Outstanding, Diluted (in shares) 6,990,633 6,959,035 6,978,679 6,983,778
Mortgage banking income        
Other Operating Income        
Revenue from contracts with customers $ 5,903 $ 6,219 $ 16,325 $ 18,020
Bankcard fees        
Other Operating Income        
Revenue from contracts with customers 724 664 2,056 1,903
Service charges on deposit accounts        
Other Operating Income        
Revenue from contracts with customers $ 407 $ 406 $ 1,137 $ 1,254