Northrim BanCorp Full Year 2023 Earnings: EPS: US$4.53 (vs US$5.33 in FY 2022)
Northrim BanCorp (NASDAQ:NRIM) Full Year 2023 Results
Key Financial Results
Revenue: US$125.8m (flat on FY 2022).
Net income: US$25.4m (down 17% from FY 2022).
Profit margin: 20% (down from 25% in FY 2022).
EPS: US$4.53 (down from US$5.33 in FY 2022).
NRIM Banking Performance Indicators
Net interest margin (NIM): 4.21% (up from 3.89% in FY 2022).
Cost-to-income ratio: 72.6% (up from 68.8% in FY 2022).
Non-performing loans: 0.34% (down from 0.47% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
The primary driver behind last 12 months revenue was the Community Banking segment contributing a total revenue of US$105.7m (84% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$82.1m (82% of total expenses). Explore how NRIM's revenue and expenses shape its earnings.
Northrim BanCorp shares are down 2.5% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Northrim BanCorp's balance sheet.
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