Northrim BanCorp (NASDAQ:NRIM), the parent company of Northrim Bank, reported strong financial results for the fourth quarter and full year ended December 31, 2025.
Fourth-quarter net income was $12.4 million, or $0.55 per diluted share.
For the full year, net income reached $64.6 million, or $2.87 per diluted share, representing a 75% increase compared with 2024.
The year-over-year improvement was supported by higher net interest income, solid loan growth, purchased receivable income from the Sallyport acquisition, and a gain on asset sale in the third quarter, partially offset by elevated operating expenses.
Portfolio loans also grew 8% year-over-year to $2.30 billion.
Total deposits increased 5% year-over-year to $2.81 billion, though they declined 3% from the prior quarter.
The fourth-quarter net interest margin on a taxable-equivalent basis was 4.75%.
The company also issued $60 million in subordinated debt during the period to further strengthen its capital position.