Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Balance Sheets

Balance Sheets at December 31,	2023	2022
(In Thousands)
Assets
Cash and cash equivalents	$19,055	$30,883
Marketable equity securities	13,153	10,740
Investment in Northrim Bank	208,435	184,148
Investment in NISC	1,167	1,245
Investment in NST2	310	310
Taxes receivable, net	1,212	463
Other assets	2,152	1,435
Total Assets	$245,484	$229,224
Liabilities
Junior subordinated debentures	$10,310	$10,310
Other liabilities	456	285
Total Liabilities	10,766	10,595
Shareholders' Equity
Common stock	5,513	5,701
Additional paid-in capital	9,605	17,784
Retained earnings	236,037	224,225
Accumulated other comprehensive (loss) income	(16,437)	(29,081)
Total Shareholders' Equity	234,718	218,629
Total Liabilities and Shareholders' Equity	$245,484	$229,224

Statements of Income

Statements of Income for Years Ended:	2023	2022	2021
(In Thousands)
Income
Interest income	$1,258	$698	$551
Equity in undistributed earnings from Northrim Bank	26,871	32,853	38,625
Equity in undistributed earnings from NISC	(22)	120	66
Gain on sale of marketable equity securities, net	—	—	67
Unrealized gain (loss) on marketable equity securities	120	(1,119)	(101)
Other income	—	—	151
Total Income	$28,227	$32,552	$39,359
Expense
Interest expense	400	389	382
Administrative and other expenses	3,357	2,830	2,754
Total Expense	3,757	3,219	3,136
Income Before Benefit from Income Taxes	24,470	29,333	36,223
Benefit from income taxes	(924)	(1,408)	(1,294)
Net Income	$25,394	$30,741	$37,517

Statements of Cash Flows

Statements of Cash Flows for Years Ended:	2023	2022	2021
(In Thousands)
Operating Activities:
Net income	$25,394	$30,741	$37,517
Adjustments to Reconcile Net Income to Net Cash:
Gain on sale of securities, net	—	—	(67)
Equity in undistributed earnings from subsidiaries	(26,892)	(32,732)	(38,691)
Change in fair value marketable equity securities	(120)	1,119	101
Stock-based compensation	937	742	1,073
Changes in other assets and liabilities	(1,380)	(1,268)	(2,167)
Net Cash Used from Operating Activities	(2,061)	(1,398)	(2,234)
Investing Activities:
Purchases of marketable equity securities	(2,297)	(3,934)	(493)
Proceeds from sales/calls/maturities of marketable equity securities	—	488	1,016
Investment in Northrim Bank, NISC & NST2	14,628	24,323	31,894
Net Cash Provided by Investing Activities	12,331	20,877	32,417
Financing Activities:
Dividends paid to shareholders	(13,609)	(10,571)	(9,388)
Proceeds from issuance of common stock	555	586	1,543
Repurchase of common stock	(9,044)	(14,157)	(11,534)
Net Cash Used from Financing Activities	(22,098)	(24,142)	(19,379)
Net change in Cash and Cash Equivalents	(11,828)	(4,663)	10,804
Cash and Cash Equivalents at beginning of year	30,883	35,546	24,742
Cash and Cash Equivalents at end of year	$19,055	$30,883	$35,546