Northrim BanCorp, Inc (NRIM) Fair Value & Analysis

Financial Services · US · Market cap $561M

A solid business, screening 43% undervalued on our models.

What matters now

• The price is below even our cautious bear case ($28.32). The market is more pessimistic than our downside scenario.
• Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

60‑month range $7.64 – $29.38 · fair‑value band $28.32 – $47.20 · the $26.37 price screens below the $37.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

Northrim BanCorp, Inc (NRIM) currently trades at $26.37, while our model-based Fair Value estimate is $37.76, implying the stock looks roughly 43.2% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Northrim BanCorp, Inc generated revenue of $212M at a net margin of 30.7%. Revenue grew 6.2% year over year. It earns a return on equity of 21.1%. The balance sheet holds a net cash position of $58.2M. Fundamentals as of Jul 27, 2026

Our scenario range runs from $28.32 (bear case) to $47.20 (bull case); at $26.37, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 43%, NRIM screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Economic Profit ($22.22) versus Dividend Discount ($8.36). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through three segments: Community Banking, Home Mortgage Lending, and Specialty Finance.

Full company description

Northrim BanCorp, Inc. operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through three segments: Community Banking, Home Mortgage Lending, and Specialty Finance. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts. It also provides short and medium-term commercial loans, commercial credit lines, construction and real estate loans, and consumer loans, as well as short and medium-term working capital. In addition, the company offers consumer and business online banking, mobile app, and mobile deposits; and debit and credit cards. Further, it provides mobile web and app banking, consumer online account opening, personal finance, online documents, consumer debit cards, business debit cards, my rewards for consumer debit cards, retail lockbox services, card control, corporate purchase cards, integrated payables, home equity advantage access cards, telebanking, and automated teller services. Additionally, the company offers personalized checks at account opening, overdraft protection from a savings account, commercial drive-up banking, automatic transfer and payment, external transfer, bill pay, wire transfer, direct payroll deposit, electronic tax payment, automated clearing house origination and receipt, remote deposit capture, account reconciliation and positive pay, merchant, cash management, annuity, and long-term investment portfolio products and services. It also provides investment advisory, trust, wealth management, factoring, and mortgage services. The company was founded in 1990 and is headquartered in Anchorage, Alaska.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Northrim BanCorp, Inc reported revenue of $243M in FY2025 versus $137M in FY2021, a compound +15.4%/yr. Reported net income was $64.6M in FY2025, compounding +14.6%/yr from FY2021.

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Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

• Halper Sadeh LLC is Investigating Whether SAFT, NEUP, RMAX, NRIM are Obtaining Fair Deals for their Shareholders GlobeNewswire · Jul 30, 2026
• The M&A Class Action Firm Encourages $hareholders To Contact Monteverde Concerning The Merger—NRIM, NEUP, SAFT, and RMAX GlobeNewswire · Jul 30, 2026
• Halper Sadeh LLC is Investigating Whether UTZ, BLFS, NRIM are Obtaining Fair Deals for their Shareholders GlobeNewswire · Jul 30, 2026
• Northrim BanCorp strikes $167.3M all-stock deal for PBCO Financial Seeking Alpha · Jul 23, 2026

Peer Group

Banks - Regional · 1083 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Banks - Regional median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.