Northrim Bancorp Inc · NASDAQ:NRIM
Northrim Bancorp — Q1 2026 Earnings Presentation
24 slides from Northrim Bancorp's earnings presentation, 2026
Slide 1: Investor Presentation First Quarter 2026
Investor Presentation First Quarter 2026 Nasdaq: NRIM 1
Slide 2: Northrim Overview
Northrim Overview $3.4 billion community bank founded in 1990 to provide financial services to Alaskan residents and businesses • Superior customer first service • Strong balance sheet Fairbanks • Solid net interest margin; pricing reflects quality service Nome • Focus on asset quality • Diversified
Slide 3: 1st Quarter 2026 | Financial Highlights
1st Quarter 2026 | Financial Highlights1 Earnings & Profitability Q1-26 Q4-25 Q1-25 Earnings per Share $0.61 $0.55 $0.60 Net Income EPS Net Income (in Thousands) $13,675 $12,441 $13,324 $13.675 $0.61 million Tax Equivalent Net Interest Margin 4.77% 4.75% 4.61% ROAA 1.69% 1.50% 1.76% ROAE 16.60% 15.1
Slide 4: Capital Management and Enhanced Shareholder Value
CreditManagement Capital Quality – has Non-Performing Assets Enhanced Shareholder Value(“NPAs”) Dividends Per Share $0.75 Cash dividend of $0.16 21% of shares per share paid on March repurchased between 13, 2026 2019 and 2023 $0.50 $0.25 8.5% CAGR Repurchase activity TBV/share, $— increased EPS by ~
Slide 5: Regulatory Capital Ratios
Regulatory Capital Ratios 15.00% 14.14% 13.86% 12.50% 11.56% 10.95% 10.63% 10.71% 10.63% 10.67% 10.59% 10.26% 10.31% 10.00% 9.76% 9.80% 9.37% 9.42% 9.13% 8.66% 8.77% 8.02% 7.99% 7.50% 5.00% 2.50% —% Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Leverage Ratio CET1 Ratio Tier 1 Ratio Total RBC Ratio 5
Slide 6: Investment Opportunity
Investment Opportunity Unique Banking Environment Provides Opportunities to Gain Market Share • Northrim deposit market share has increased by 727 basis points since 2018 Alaska Banking Environment Drives Higher Yields on Loans and Lower Deposit Costs • Northrim loan yields averaged 6.03% over last
Slide 7: Capital Investment Drives Economic Growth - Partial List of Projects
Capital Investment Drives Economic Growth - Partial List of Projects • $6 billion in various federal infrastructure projects over the next 5 years • $400+ million port of Nome • $185 million Lowell Creek flood diversion in Seward • $88 million Moose Creek dam in North Pole to protect Fairbanks • $46
Slide 8: Oil and Gas Development Drives Economic Growth
Oil and Gas Development Drives Economic Growth Future Oil Development Projects • Alaska North Slope oil production averaged 461,000 barrels per day (bpd) in 2024 • Alaska Department of Revenue projects a 33% increase to 621,000 bpd by 2036 • Santos and Repsol making $2.6 billion investment in Pikka
Slide 9: Alaska's Mining Sector Contributes Substantially to the State's Economy
Alaska's Mining Sector Contributes Substantially to the State's Economy • $1.8 billion spent on goods and services to support Alaska's mines, with $1.1 billion directly to Alaska businesses. • $139 million paid in local and state government revenues. • $425 million in royalty payments to Alaska Nati
Slide 10: Steady Loan Growth Supported by Increasing Market Share
Steady Loan Growth Supported by Increasing Market Share Portfolio Loans Outstanding ($2.36 billion) $2,359 $2,295 0.4% 8% $2,129 $2,000 33% 16% $1,789 $1,500 Loan $1,502 $1,444 $1,414 Composition 6.87% 6.99% 6.86% (3/31/2026) 6.49% $1,000 18% 5.71% 5.18% 25% 5.08% $500 Consumer other Construction $0
Slide 11: Diversified Loan Portfolio Limits Concentration Risk
Diversified Loan Portfolio Limits Concentration Risk Special Industries as Percentage of • Legal lending limit was $52.4 million as of Total Portfolio Loans ($2.36 billion) March 31, 2026 $150M $151M • 19 relationships totaling $335.8 million in portfolio loans have total direct and indirect commitm
Slide 12: Commercial Real Estate Non-Owner Occupied Portfolio Details
Commercial Real Estate Non-Owner Occupied Portfolio Details CRE Non-owner Occupied Portfolio Metrics (3/31/2026) Average Loan Size $1.65 million Nonaccrual $0.00 million Special Mention $0.00 million / 0.00% of CRE Non-Owner Occupied Adversely Classified $9.78 million / 1.37% of CRE Non-Owner Occupi
Slide 13: Deposit Franchise also Benefiting from Increasing Market Share
Deposit Franchise also Benefiting from Increasing Market Share Steady Market Share Growth Driving Deposits $3,000 $391 $403 7% $418 $2,500 $331 8% $178 $193 17.5% 17.5% $1,356 $1,556 $1,397 $1,404 $2,000 42% $176 15.7% 14% Deposit $1,656 $1,006 $1,688 Composition $1,500 15.0% (3/31/2026) 14.0% $1,00
Slide 14: Deposit Concentrations
Deposit Concentrations Consumer Accounts vs. Business Accounts Deposit Portfolio as of March 31, 2026: • 33 deposit customers with balances greater than $10 million totaling $721.0 million or 25% of total deposits. • Approximately 33,000 deposit customers with average balance of $64,000. 25% • Unins
Slide 15: Net Interest Margin Driven by Asset Yields and Low Cost Liabilities
Net Interest Margin Driven by Asset Yields and Low Cost Liabilities Yield on Portfolio Loans • Three Fed rate cuts in the second half of 2025 impacting loan yields ◦ 27 bps decrease since Q3 2025 7.13% • Deposit franchise provides low cost financing 6.99% 6.95% 6.87% 6.91% 6.93% 6.89% 6.86% ◦ 29% no
Slide 16: Credit Quality – Non-Performing Assets
Credit Solid Quality Credit – Non-Performing and a History Assets (“NPAs”) of Low Charge-Offs • Nonperforming loans have remained relatively low for Nonperforming loans, net govt. guarantees / Portfolio past 5 years loans • Historically low charge-offs ◦ 0.01% Net Charge-offs / Loans 6-year average
Slide 17: Special Mention and Adversely Classified Loans and Net Charge-Off History
CreditMention Special Quality and–Adversely Non-Performing Assets Classified Loans (“NPAs”) and Net Charge-Off History Special Mention and Adversely Loans to Total Net Charge-offs/YTD Average Loans Loans 0.07% 0.08% 3.88% 0.03% 3.76% 3.58% 3.54% 0.01% 3.40% —% 3.19% (0.01)% 1.81% (0.08)% 2020 2021 2
Slide 18: Operating Expenses Mitigated by Attractive Market Dynamics
Operating Expenses Mitigated by Attractive Market Dynamics • Alaskan operating expenses are higher than Higher Operating Expenses... mainland banks ◦ 1,300 miles from Nome to Ketchikan (1,400 miles from New York to Dallas) 3.50% 3.40% 3.42% ◦ 6 branches only accessible by boat or 3.18% plane 3.06% •
Slide 19: Noninterest Income Supported by Multiple Business Lines
Noninterest Income Supported by Multiple Business Lines Business Line Description Operating Income 2026 ($14.9M) Home Mortgage Lending and • Includes mortgage servicing Residential Mortgage, LLC • Largest mortgage originator in AK Q1-25 Q1-26 • Majority of loans serviced are Alaska Housing Finance C
Slide 20: Diversification has Enhanced Results Over the Long Term
Diversification has Enhanced Results Over the Long Term EPS Contribution by Segment $2.20 $1.36 $1.42 $1.23 $1.09 $0.65 $0.67 $0.67 $0.61 $0.41 $0.45 $0.47 $0.20 $0.22 $0.07 $0.10 $0.08 $0.09 $0.05 $(0.04) $(0.11) 2018 2019 2020 2021 2022 2023 2024 2025 YTD '26 Specialty Finance Home Mortgage Lendin
Slide 21: Appendix
a Northrim BanCorp, Inc. Appendix
Slide 22: Financial Highlights
Financial Highlights1 Balance Sheet 2022 2023 2024 2025 2025 Q1 2026 Q1 Total Assets $2,674,318 $2,807,497 $3,041,869 $3,290,273 $3,140,960 $3,354,908 Portfolio Loans 1,501,785 1,789,497 2,129,263 2,295,499 2,124,330 2,358,702 Deposits 2,387,211 2,485,055 2,680,189 2,813,029 2,777,977 2,873,746 Shar
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation (In thousands) 2022 2023 2024 2025 2025 Q1 2026 Q1 Shareholders' Equity $218,629 $234,718 $267,116 $326,544 $279,756 $335,809 Total Assets 2,672,041 2,807,497 3,041,869 3,290,273 3,140,960 3,354,908 Total Shareholders' Equity to Total Assets Ratio 8.18 % 8.36 % 8.78 % 9.92 %
Slide 24: Non-GAAP Reconciliation
Non-GAAP Reconciliation 2015 2016 2017 2018 2019 2020 2021 Shareholders' Equity $177,214 $186,712 $192,802 $205,947 $207,117 $221,575 $237,817 Divided by Common Shares Outstanding 27,509 27,592 27,488 27,533 26,235 25,004 24,059 Book Value per Share $6.44 $6.77 $7.01 $7.48 $7.89 $8.86 $9.88 Sharehol