Northrim Bancorp Inc (NASDAQ: NRIM)

Northrim BanCorp, Inc. is a bank holding company headquartered in Anchorage, Alaska, that provides banking and financial services through its subsidiary Northrim Bank and related entities. The company operates primarily in Alaska, offering commercial and consumer lending, deposit products, investment services, and electronic banking solutions.

The company generates revenue from interest income on loans and leases, service charges on deposit accounts, fees from mortgage origination and servicing, and income from factoring, asset based lending, and other specialty finance activities. Its customers include businesses, individuals, and other entities seeking loans, deposit accounts, wealth management, and working capital financing.

The company operates through the following segments: Community Banking, Home Mortgage Lending, and Specialty Finance.

• Community Banking: This segment provides commercial and consumer loans, deposit accounts, investment products, and electronic banking services through a network of 20 branches in Alaska and a factoring division in Washington State.

• Home Mortgage Lending: This segment originates one to four family residential mortgages, sells most to the secondary market, retains servicing for loans sold to the Alaska Housing Finance Corporation, and holds certain mortgage loans for investment.

• Specialty Finance: This segment offers factoring, asset based lending, and alternative working capital solutions to small and medium sized enterprises in the United States, Canada, and the United Kingdom through its subsidiaries including Northrim Funding Services and Sallyport Commercial Finance.

Northrim BanCorp, Inc. is the third largest commercial bank in Alaska by deposits, holding approximately $2.8 billion in deposits and $3.3 billion in total assets as of December 31, 2025. Its main competitors in the state include Wells Fargo Bank Alaska, First National Bank Alaska, and KeyBank, while it differentiates itself through relationship based banking, local decision making, and a commitment to superior customer service.

The company serves approximately 34,000 deposit customers with an average account balance of about $62,000, including 32 relationships each exceeding $10 million in deposits. Its lending activities focus on businesses and consumers in Alaska, while the Specialty Finance segment extends working capital solutions to firms across the United States, Canada, and the United Kingdom.