Parent Company Information

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Parent Company Information

Parent Company Information

Balance Sheets at December 31,	2020	2019
(In Thousands)
Assets
Cash and cash equivalents	$24,742	$25,294
Marketable equity securities	9,052	7,945
Investment in Northrim Bank	196,002	183,285
Investment in NISC	1,472	1,530
Investment in NST2	310	310
Taxes receivable, net	1,973	—
Other assets	497	6
Total Assets	$234,048	$218,370
Liabilities
Junior subordinated debentures	$10,310	$10,310
Other liabilities	2,163	943
Total Liabilities	12,473	11,253
Shareholders' Equity
Common stock	6,251	6,559
Additional paid-in capital	41,808	50,512
Retained earnings	173,498	149,615
Accumulated other comprehensive income	18	431
Total Shareholders' Equity	221,575	207,117
Total Liabilities and Shareholders' Equity	$234,048	$218,370

Statements of Income for Years Ended:	2020	2019	2018
(In Thousands)
Income
Interest income	$599	$635	$477
Equity in undistributed earnings from Northrim Bank	33,570	20,680	20,888
Equity in undistributed earnings from NISC	174	218	166
Income (loss) on marketable equity securities	61	911	(625)
Other income	108	44	5
Total Income	$34,512	$22,488	$20,911
Expense
Interest expense	385	389	389
Administrative and other expenses	2,748	2,168	2,524
Total Expense	3,133	2,557	2,913
Income Before Benefit from Income Taxes	31,379	19,931	17,998
Benefit from income taxes	(1,509)	(760)	(2,006)
Net Income	$32,888	$20,691	$20,004

Statements of Cash Flows for Years Ended:	2020	2019	2018
(In Thousands)
Operating Activities:
Net income	$32,888	$20,691	$20,004
Adjustments to Reconcile Net Income to Net Cash:
Gain on sale of securities, net	(98)	—	—
Equity in undistributed earnings from subsidiaries	(33,744)	(20,897)	(20,920)
Change in fair value marketable equity securities	(61)	(911)	625
Stock-based compensation	943	832	816
Changes in other assets and liabilities	(2,118)	8,556	(6,428)
Net Cash Used from Operating Activities	(2,190)	8,271	(5,903)
Investing Activities:
Purchases of marketable equity securities	(1,552)	—	(3,000)
Proceeds from sales/calls/maturities of marketable equity securities	503	229	783
Investment in Northrim Bank, NISC & NST2	21,423	19,488	17,877
Net Cash Provided by Investing Activities	20,374	19,717	15,660
Financing Activities:
Dividends paid to shareholders	(8,844)	(8,512)	(7,064)
Proceeds from issuance of common stock	84	73	243
Repurchase of common stock	(9,976)	(12,569)	(494)
Net Cash Used from Financing Activities	(18,736)	(21,008)	(7,315)
Net change in Cash and Cash Equivalents	(552)	6,980	2,442
Cash and Cash Equivalents at beginning of year	25,294	18,314	15,872
Cash and Cash Equivalents at end of year	$24,742	$25,294	$18,314