Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Balance Sheets

Balance Sheets at December 31,	2022	2021
(In Thousands)
Assets
Cash and cash equivalents	$30,883	$35,546
Marketable equity securities	10,740	8,420
Investment in Northrim Bank	184,148	202,819
Investment in NISC	1,245	1,336
Investment in NST2	310	310
Taxes receivable, net	463	603
Other assets	1,435	358
Total Assets	$229,224	$249,392
Liabilities
Junior subordinated debentures	$10,310	$10,310
Other liabilities	285	1,265
Total Liabilities	10,595	11,575
Shareholders' Equity
Common stock	5,701	6,015
Additional paid-in capital	17,784	31,162
Retained earnings	224,225	204,046
Accumulated other comprehensive (loss) income	(29,081)	(3,406)
Total Shareholders' Equity	218,629	237,817
Total Liabilities and Shareholders' Equity	$229,224	$249,392

Statements of Income

Statements of Income for Years Ended:	2022	2021	2020
(In Thousands)
Income
Interest income	$698	$551	$599
Equity in undistributed earnings from Northrim Bank	32,853	38,625	33,570
Equity in undistributed earnings from NISC	120	66	174
Gain on sale of marketable equity securities, net	—	67	98
Unrealized gain (loss) on marketable equity securities	(1,119)	(101)	61
Other income	—	151	10
Total Income	$32,552	$39,359	$34,512
Expense
Interest expense	389	382	385
Administrative and other expenses	2,830	2,754	2,748
Total Expense	3,219	3,136	3,133
Income Before Benefit from Income Taxes	29,333	36,223	31,379
Benefit from income taxes	(1,408)	(1,294)	(1,509)
Net Income	$30,741	$37,517	$32,888

Statements of Cash Flows

Statements of Cash Flows for Years Ended:	2022	2021	2020
(In Thousands)
Operating Activities:
Net income	$30,741	$37,517	$32,888
Adjustments to Reconcile Net Income to Net Cash:
Gain on sale of securities, net	—	(67)	(98)
Equity in undistributed earnings from subsidiaries	(32,732)	(38,691)	(33,744)
Change in fair value marketable equity securities	1,119	101	(61)
Stock-based compensation	742	1,073	943
Changes in other assets and liabilities	(1,268)	(2,167)	(2,118)
Net Cash Used from Operating Activities	(1,398)	(2,234)	(2,190)
Investing Activities:
Purchases of marketable equity securities	(3,934)	(493)	(1,552)
Proceeds from sales/calls/maturities of marketable equity securities	488	1,016	503
Investment in Northrim Bank, NISC & NST2	24,323	31,894	21,423
Net Cash Provided by Investing Activities	20,877	32,417	20,374
Financing Activities:
Dividends paid to shareholders	(10,571)	(9,388)	(8,844)
Proceeds from issuance of common stock	586	1,543	84
Repurchase of common stock	(14,157)	(11,534)	(9,976)
Net Cash Used from Financing Activities	(24,142)	(19,379)	(18,736)
Net change in Cash and Cash Equivalents	(4,663)	10,804	(552)
Cash and Cash Equivalents at beginning of year	35,546	24,742	25,294
Cash and Cash Equivalents at end of year	$30,883	$35,546	$24,742