NORTHRIM BANCORP INC

Northrim BanCorp, Inc. (NASDAQ: NRIM) is a publicly traded bank holding company headquartered in Anchorage, Alaska, operating as the third largest commercial bank in Alaska by deposits. The company began banking operations in 1990 and completed its reorganization into a holding company structure in 2001. As of December 31, 2025, Northrim manages $3.3 billion in total assets and $2.8 billion in total deposits across its operations.

The company operates through three reportable segments: Community Banking, Home Mortgage Lending, and Specialty Finance. The Community Banking segment provides commercial and real estate lending, deposit services, and treasury management products to small and medium-sized businesses and individuals throughout Alaska. The Home Mortgage Lending segment, conducted through Residential Mortgage LLC, originates one-to-four family residential mortgages, with approximately 74 percent of originations located in Alaska, most of which are sold to the secondary market. The Specialty Finance segment, established through the October 2024 acquisition of Sallyport Commercial Finance LLC, provides factoring, asset-based lending, and alternative working capital solutions to businesses throughout the United States and, through affiliates, in Canada and the United Kingdom.

Northrim operates 20 branch locations throughout Alaska and maintains a core deposit franchise with approximately 34,000 deposit customers. The company employs 516 full-time equivalent employees distributed across its three segments. The company's primary subsidiaries include Northrim Bank, a state-chartered commercial bank; Northrim Investment Services Company, which holds a 21 percent equity interest in Pacific Wealth Advisors LLC; and various real estate and finance subsidiaries.

The company's business strategy emphasizes value-added growth through relationship banking, superior customer service, and credit quality management. Northrim maintains significant exposure to Alaska's economy, with operations concentrated in Anchorage, Juneau, Fairbanks, the Matanuska-Susitna Valley, and the Kenai Peninsula. The company competes with regional and national financial institutions, credit unions, and non-bank financial service providers across its markets. Northrim's competitive positioning reflects its local decision-making authority, experienced management team, and comprehensive product offerings tailored to Alaska's business and consumer markets.