Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.33 per Share
ANCHORAGE, Alaska, Dec. 06, 2019 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.33 per share. The dividend will be payable on December 27, 2019, to shareholders of record at the close of business on December 19, 2019.
“We are committed to providing returns to our shareholders through earnings growth, building equity, and paying reliable dividends,” said Joe Schierhorn, President and CEO. At the stock price of $36.67 per share at the close of the market on December 5, 2019, the current dividend equates to a yield of 3.60% on an annualized basis.
On October 28, 2019, Northrim reported earnings of $7.5 million, or $1.11 per diluted share, for the third quarter of 2019. Return on average assets was 1.90%, return on average equity was 14.45%, and net interest margin was 4.60% for the third quarter of 2019.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, serving 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
| Contact: | Joe Schierhorn, President, CEO, and COO |
| (907) 261-3308 | |
| Jed Ballard, Chief Financial Officer | |
| (907) 261-3539 |
