XML 110 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest Income      
Interest and fees on loans and loans held for sale $ 62,150 $ 57,542 $ 55,041
Interest on investment securities available for sale 6,572 5,481 4,230
Dividends on marketable equity securities 439 348 345
Interest on investment securities held to maturity 0 0 59
Interest on deposits in other banks 922 806 433
Total Interest Income 70,083 64,177 60,108
Interest Expense      
Interest expense on deposits 4,961 2,307 1,707
Interest expense on securities sold under agreements to repurchase 40 50 34
Interest expense on borrowings 251 223 173
Interest expense on junior subordinated debentures 389 389 516
Total Interest Expense 5,641 2,969 2,430
Net Interest Income 64,442 61,208 57,678
(Benefit) provision for loan losses (1,175) (500) 3,200
Net Interest Income After (Benefit) Provision for Loan Losses 65,617 61,708 54,478
Other Operating Income      
Mortgage banking income 24,201 20,844 23,287
Purchased receivable income 3,271 3,255 2,975
Gain (loss) on marketable equity securities 911 (625) 0
Interest rate swap income 964 84 26
Commercial servicing revenue 624 1,422 372
Gain on sale of securities 23 0 11
Gain on sale of Northrim Benefits Group 0 0 4,445
Employee benefit plan income 0 0 2,506
Other income 2,819 2,868 2,641
Total Other Operating Income 37,346 32,167 40,474
Other Operating Expense      
Salaries and other personnel expense 51,317 44,650 44,721
Data processing expense 7,128 6,035 5,549
Occupancy expense 6,607 6,136 6,752
Professional and outside services 2,531 2,453 2,365
Marketing expense 2,373 2,318 2,566
Insurance expense 557 862 1,161
Compensation expense - RML acquisition payments 468 0 130
Intangible asset amortization expense 60 70 100
Impairment of equity method investment 0 804 686
OREO (income) expense, net of rental income and gains on sale (193) 258 837
Other operating expense 5,990 6,214 6,286
Total Other Operating Expense 76,838 69,800 71,153
Income Before Provision for Income Taxes 26,125 24,075 23,799
Provision for income taxes 5,434 4,071 10,321
Net Income 20,691 20,004 13,478
Less: Net income attributable to the noncontrolling interest 0 0 327
Net Income Attributable to Northrim BanCorp, Inc. $ 20,691 $ 20,004 $ 13,151
Earnings per share, basic (in USD per share) $ 3.08 $ 2.91 $ 1.91
Earnings per share, diluted (in USD per share) $ 3.04 $ 2.86 $ 1.88
Weighted Average Shares Outstanding, Basic (in shares) 6,708,622 6,877,573 6,889,621
Weighted Average Shares Outstanding, Diluted (in shares) 6,808,209 6,981,557 6,977,910
Bankcard fees      
Other Operating Income      
Revenue from contract with customer $ 2,976 $ 2,811 $ 2,597
Service charges on deposit accounts      
Other Operating Income      
Revenue from contract with customer $ 1,557 $ 1,508 $ 1,614