Northrim BanCorp Q2 FY26 net income rises 12% to $15.3 million; net interest income climbs 7% to $37.1 million vs Q1 FY26
NRIM•Balance sheet growth
- Total deposits grew 2% to USD 2.92 billion from the prior quarter; portfolio loans edged up 1% to USD 2.39 billion.
Credit costs and asset quality
- Provision for credit losses increased to USD 1.6 million from USD 960,000; nonperforming assets, net of government guarantees, rose to USD 23 million from USD 15.3 million.
Quarterly results and margin expansion
- Northrim BanCorp posted Q2 2026 net income of USD 15.3 million, up 12% from Q1 2026; diluted EPS rose to USD 0.68 from USD 0.61.
- Net interest income climbed 7% to USD 37.1 million from the prior quarter; net interest margin on a tax-equivalent basis widened 0.24 percentage points to 5.01%.
Branch expansion and management commentary
- Opened a branch in Palmer, Alaska, its 21st; CEO Mike Huston cited record net interest income and continued loan and deposit growth.
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