|  July 25, 2014  |  
Light Rain   56.0F  |  Forecast »
Bookmark and Share Email this page Email Print this page Print Feed Feed

Northrim BanCorp Declares Cash Dividend of $0.10 Per Share


ANCHORAGE, Alaska, Nov. 23, 2009 (GLOBE NEWSWIRE) -- Northrim BanCorp,
Inc. (Nasdaq:NRIM) today announced its Board of Directors declared a
quarterly cash dividend of $0.10 per common share. The dividend will be
paid on December 18, 2009, to shareholders of record at the close of
business December 10, 2009. Northrim has consistently paid a regular
quarterly cash dividend since 1995.

"With growing profits and a solid balance sheet, we are maintaining our
cash dividend this quarter at $0.10 per share," said Marc Langland,
Northrim's President and Chief Executive Officer

Northrim recently reported 2009 profits for the nine month period
ending September 30, 2009 grew 13% to $5.8 million, or $0.90 per
diluted share, compared to $5.1 million, or $0.78 per diluted share, in
the first nine months of 2008. Northrim, which has not accepted money
from the U.S. Treasury's Troubled Asset Relief Program, remains well
capitalized with Tier 1 Capital/risk adjusted assets of 13.96% compared
to 12.81% a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, a
commercial bank that provides personal and business banking services
through locations in Anchorage, Eagle River, Wasilla, and Fairbanks,
Alaska, and an asset based lending division in Washington. The bank
differentiates itself with a "Customer First Service" philosophy.
Affiliated companies include Elliott Cove Capital Management, LLC;
Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific
Wealth Advisors, LLC. In June 2009, Northrim Bancorp was added to the
Russell 2000 Index, a subset of the Russell 3000 Index. Both indices
are widely used by professional money managers as benchmarks for
investment strategies.

www.northrim.com

Add your comment:
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement