Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
ANCHORAGE, Alaska, Nov. 18, 2016 -- Northrim BanCorp, Inc. (NASDAQ:NRIM) today announced that its Board of Directors declared its regular quarterly cash dividend of $0.20 per share. The dividend will be payable on December 16, 2016, to shareholders of record at the close of business on December 8, 2016. At the stock price of $28.35 per share at the close of the market on November 17, 2016, the current dividend equates to a yield of 2.8% on an annualized basis.
On October 31, 2016, Northrim reported third quarter net income declined to $3.1 million, or $0.44 per diluted share, compared to $4.4 million, or $0.63 per diluted share, in the second quarter of 2016, and $5.3 million, or $0.77 per diluted share, in the third quarter of 2015. For the first nine months of 2016 net income decreased to $10.8 million, or $1.55 per diluted share, compared to $13.7 million, or $1.97 per diluted share in the first nine months of 2015. Excluding the non-cash accounting correction described in the release, third quarter net income would have been $4.7 million, or $0.67 per diluted share, and $12.4 million, or $1.78 per diluted share, for the first nine months of 2016.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 14 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, and Sitka 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. Affiliated companies include Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.
Contact: Latosha Frye, Chief Financial Officer (907) 261-8763
