Northrim BanCorp Raises Quarterly Dividend 6.25%

Northrim BanCorp, Inc. increased its quarterly dividend to $0.17 per share from $0.16, a 6.25% rise. Shares traded ex-dividend on Sept. 10, 2026.

The increase extends the Alaska-based financial-services company’s dividend-growth streak to 16 consecutive years. Northrim previously reduced its dividend in 2009.

At the stated share price of $26.05, the supplied annual dividend amount of $0.65 per share represents a forward annual yield of 2.5%. The company has a dividend safety score of 89 out of 100 and an A safety grade.

Operating backdrop

The higher payment follows a stronger second quarter for Northrim. The company reported net income of $15.3 million, or $0.68 per diluted share, compared with $11.8 million, or $0.52 per diluted share, a year earlier. Northrim attributed the improvement mainly to higher net interest income. Net interest income rose 11% from the prior-year quarter, while lower deposit costs helped expand the company’s tax-equivalent net interest margin. Chief Executive Mike Huston said the results reflected the strength of Northrim’s relationship-driven banking model and disciplined execution. Northrim’s second-quarter release filed with the SEC

Northrim is the parent of Northrim Bank, an Alaska community bank with 21 branches serving communities that account for approximately 90% of the state’s population. Its other operations include specialty finance subsidiary Sallyport Commercial Finance and regional home lender Residential Mortgage. Northrim investor overview

The company also entered into a merger agreement in July with Oregon-based PBCO Financial Corporation. The planned transaction would ultimately combine People’s Bank of Commerce with Northrim Bank, subject to the agreement’s terms and closing conditions. SEC merger filing

What it means for income investors

The increase lifts the cash received per quarterly share while preserving Northrim’s 16-year record of consecutive annual dividend growth. The Sept. 10 ex-dividend date determines eligibility for the associated distribution; shares purchased on or after that date generally do not carry the payment. The safety grade indicates a comparatively strong dividend profile under the supplied methodology, though it does not guarantee future payments.