NASDAQ$NRIM
Northrim BanCorp Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported net income of $8.88 million, or $1.42 per diluted share, fueled by PPP loan income, strong mortgage lending, and core loan growth.
Northrim BanCorp reported a net income of $8.88 million, or $1.42 per diluted share, for Q3 2021. The company's profitability was driven by fee and interest income from PPP loans, high levels of production in the Home Mortgage Lending segment, and strong core loan growth. A $1.1 million benefit to the provision for credit losses also contributed to the results.
- Net income was $8.88 million, or $1.42 per diluted share, compared to $8.35 million, or $1.33 per diluted share in the prior quarter.
- Total revenue was $33.1 million, compared to $39.9 million in the third quarter of 2020.
- Net interest income increased 12% to $20.4 million compared to the third quarter of 2020.
- Total deposits increased 27% to $2.30 billion compared to September 30, 2020.
Headline financials
Revenue & EPS history
Northrim BanCorp · Revenue · Quarterly
$33.1M
Forward guidance
Management expects the Alaska economy to slowly recover in 2021.
Tailwinds
- Rising oil prices
- Improvement in tourism
- Strong liquidity levels in the private sector from government stimulus programs
- Strong housing market
- Low interest rates
Headwinds
- Pandemic headwinds in the local economy
- Challenges in the Alaskan economy, especially in the tourism and hospitality sector
- Volatility in oil prices
- Rising prices starting to stress affordability levels for homes
- Supply chain disruptions expected to moderate construction activity in the short run
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.0%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+4.9%
Avg return
30 days after
63%
41 / 65 earnings
Positive
+7.2%
Q3 2022
Best reaction
-16.0%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | +4.7% | +1.3% | |
| Q4 2025 | -15.3% | -23.8% | -14.2% | |
| Q3 2025 | +3.2% | +10.1% | +16.5% | |
| Q1 2025 | +0.8% | +1.9% | +9.4% | |
| Q4 2024 | +3.8% | +3.7% | -0.0% | |
| Q3 2024 | -4.1% | -3.9% | +27.5% | |
| Q2 2024 | +1.9% | -2.0% | -3.3% | |
| Q1 2024 | +3.9% | +3.5% | +16.6% | |
| Q4 2023 | +1.3% | +2.6% | -6.0% | |
| Q3 2023 | +1.1% | +6.1% | +26.7% | |
| Q2 2023 | +3.0% | +2.6% | -8.8% | |
| Q1 2023 | -16.0% | -13.2% | -7.5% | |
| Q4 2022 | +0.6% | +1.6% | -0.1% | |
| Q3 2022 | +7.2% | +11.5% | +28.6% | |
| Q2 2022 | +1.7% | -1.0% | -0.8% | |
| Q1 2022 | -0.3% | -0.1% | +4.0% | |
| Q4 2021 | +0.9% | -0.2% | -0.6% | |
| Q3 2021 | +0.9% | +3.1% | -3.7% | |
| Q2 2021 | +0.6% | +0.6% | +1.5% | |
| Q1 2021 | -1.0% | +0.6% | +0.8% | |
| Q4 2020 | +4.5% | +8.2% | +33.8% | |
| Q3 2020 | -1.5% | -9.3% | +8.3% | |
| Q2 2020 | +0.9% | +0.1% | +10.2% | |
| Q1 2020 | +4.7% | +1.7% | +16.1% | |
| Q4 2019 | +2.6% | +1.7% | +2.7% | |
| Q3 2019 | +4.2% | +5.2% | +0.3% | |
| Q2 2019 | +1.7% | -4.2% | -4.1% | |
| Q1 2019 | +2.0% | +3.1% | -2.2% | |
| Q4 2018 | -4.9% | -1.3% | +14.6% | |
| Q3 2018 | +2.8% | +4.0% | +0.1% | |
| Q2 2018 | +1.6% | +4.5% | +10.3% | |
| Q1 2018 | +1.4% | +3.0% | +13.4% | |
| Q4 2017 | -1.0% | -1.6% | -2.2% | |
| Q3 2017 | -8.8% | -4.2% | +5.2% | |
| Q2 2017 | +1.6% | -2.1% | +1.7% | |
| Q1 2017 | +0.5% | -1.6% | -7.2% | |
| Q4 2016 | -6.3% | -5.0% | -2.0% | |
| Q3 2016 | +1.6% | +1.8% | +14.9% | |
| Q2 2016 | -7.0% | -6.0% | -9.5% | |
| Q1 2016 | +3.1% | — | — | |
| Q4 2015 | +4.3% | — | — | |
| Q3 2015 | +0.6% | — | — | |
| Q2 2015 | +1.6% | — | — | |
| Q1 2015 | +3.8% | — | — | |
| Q4 2014 | -3.6% | — | — | |
| Q3 2014 | -3.3% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | -1.0% | — | — | |
| Q3 2013 | +1.3% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q4 2012 | -0.1% | — | — | |
| Q1 2013 | -2.0% | — | — | |
| Q3 2012 | -1.2% | — | — | |
| Q2 2012 | +1.6% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q4 2009 | -0.4% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2011 | -1.5% | — | — | |
| Q4 2010 | -1.5% | — | — | |
| Q2 2010 | -1.5% | — | — | |
| Q1 2010 | +2.5% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro