ANCHORAGE, Alaska, April 28, 2022 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the "Company") today reported net income of $7.2 million, or $1.20 per diluted share, in the first quarter of 2022, compared to $8.1 million, or $1.31 per diluted share, in the fourth quarter of 2021, and $12.2 million, or $1.94 per diluted share, in the first quarter a year ago. The decline in first quarter 2022 profitability was due to a decline in net interest income and mortgage banking income, a lower benefit for the provision for credit losses relative to prior comparable quarters and an increased provision for income taxes. These declines were partially offset by a decrease in expenses primarily due to lower mortgage loan origination commissions relative to prior comparable quarters.
Read more at globenewswire.comNorthrim BanCorp Earns $7.2 Million, or $1.20 Per Diluted Share, in First Quarter 2022
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