Northrim BanCorp (NASDAQ: NRIM) is a bank holding company headquartered in Anchorage, Alaska, that operates as a state-chartered commercial bank serving individuals and businesses. The company earns money primarily through net interest income on loans and deposits, supplemented by other operating income across three segments: Community Banking, Home Mortgage Lending, and Specialty Finance. At December 31, 2025, Northrim held $3.3 billion in total assets and $2.8 billion in total deposits, making it the third largest commercial bank in Alaska by deposits. The Specialty Finance segment was added via the October 31, 2024 acquisition of Sallyport Commercial Finance, LLC, which provides factoring, asset-based lending, and alternative working capital financing to businesses in the United States, Canada, and the United Kingdom. Net interest income was $135.6 million in FY2025, up from $113.2 million in FY2024. Net income across all segments reached $64.6 million in FY2025, compared to $37.0 million in FY2024. The company was founded in December 1990 and reorganized into a holding company structure effective December 31, 2001.

Revenue model

Net interest income from loans and deposits is the primary revenue source, totaling $135.6 million in FY2025. Other operating income contributed $77.2 million in FY2025, including mortgage banking and fee income. Segment net income in FY2025 broke down as Community Banking $49.5 million, Specialty Finance $10.3 million, and Home Mortgage Lending $4.8 million.

Products and services

Community banking deposit and loan products, residential home mortgage origination and servicing, factoring, asset-based lending, and alternative working capital lending through Sallyport Commercial Finance.

Customers and end markets

Individual and business customers in Alaska through Community Banking and Home Mortgage Lending segments. Businesses throughout the United States, Canada, and the United Kingdom through the Specialty Finance segment.

Value-chain role

Direct lender and deposit-taker. Originates and holds loans, originates and sells residential mortgages, purchases receivables via factoring, and provides asset-based working capital facilities.

Geographic exposure

Primary operations in Alaska. Specialty Finance segment serves business clients across the United States and, through subsidiaries and affiliates, in Canada and the United Kingdom.

Source: SEC 10-K, filed 2026-03-06

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