Northrim BanCorp Declares Quarterly Cash Dividend of $0.13 per Share
ANCHORAGE, Alaska, Nov. 18, 2011 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (Nasdaq:NRIM) today announced its Board of Directors declared a regular quarterly cash dividend of $0.13 per share on its common stock. The dividend will be paid December 16, 2011, to shareholders of record at the close of business December 8, 2011. Northrim has paid a regular quarterly cash dividend since 1995, and has a current annualized dividend yield of 2.7% at current market share prices. "We are pleased to continue with the $0.13 per share cash dividend, reflecting the strength of our capital and continued strength of our earnings," said Marc Langland, Northrim's President and Chief Executive Officer. Northrim Bancorp, recently reported profits of $8.1 million for the nine month period ending September 30, 2011, or $1.24 per diluted share, an increase of 13% from the like period 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; Elliott Cove Insurance Agency, LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.