Fundamentals snapshot
NRIM · NMS · Financial Services · Banks - Regional
Current price
$23.85
52-week range
$21.77 - $30.82
Market cap
$530.54M
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $151.57M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Northrim BanCorp, Inc. is like a local bank that offers a wide range of services to individuals and businesses. They mainly make money from the interest they earn on loans they give out and the interest they pay on deposits people keep with them, which is a common way banks operate. This means their success is tied to how well they manage these lending and borrowing activities.
Northrim BanCorp, Inc. was established in 1990 as the parent company for Northrim Bank, starting its journey in Anchorage, Alaska. The bank was founded with a focus on serving businesses and professionals in the region. Over the years, it has grown by expanding its service offerings and geographic reach within Alaska. A key part of its history involves building a reputation for community-focused banking and adapting to the economic landscape of its home state.
Northrim BanCorp, through its subsidiary Northrim Bank, acts like a financial hub for individuals and businesses. Think of it as a place where you can keep your money safe in various types of accounts, like checking and savings. It also lends money out, offering loans for things like buying a house, starting a business, or managing day-to-day operations. Beyond basic banking, they provide digital tools like mobile apps and online services to make managing your money easier.
This is the core of Northrim's business, focusing on traditional banking services for its local community. It involves taking deposits from customers, which is like holding onto their money in different types of accounts such as checking, savings, and certificates of deposit (CDs). In return, the bank uses a portion of this money to provide loans to individuals and businesses for various needs, like buying property or funding operations. This segment is the largest part of Northrim's operations, forming the foundation of its revenue.
This segment specifically deals with helping people finance the purchase of homes. Northrim Bank offers various mortgage products, essentially loans that are secured by the house itself. They work with borrowers to provide the funds needed to buy a home, and in return, they receive interest payments over the life of the loan. This business line is a significant contributor to the company's overall income, focusing on a major life event for many individuals.
This part of Northrim BanCorp offers more specialized financial services beyond typical banking. It includes areas like wealth management, where they help individuals manage their investments and financial future, and factoring, which involves purchasing a company's accounts receivable (money owed to them by customers) at a discount. This segment allows Northrim to cater to a broader range of financial needs and can be a source of fee-based income, often representing a smaller but distinct portion of the company's business.
Northrim's management is focused on growing its core banking operations while also expanding its reach in specialized financial services. They aim to strengthen their position in Alaska by offering a comprehensive suite of products to both individuals and businesses. A key priority is likely to continue leveraging technology to improve customer experience and operational efficiency. Management is also focused on prudent lending practices to ensure the long-term health of the bank's loan portfolio.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $151.6M - more cash than debt. Interest coverage unavailable.
Northrim BanCorp, Inc. is healthier than 0 of 1 peers on balance-sheet leverage.
Total debt $107.31M Interest coverage — This is the baseline the peer rows are being compared against.
What you should know
The numbers
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Valuation
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Health
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Debt comparison
What you should know