Filing Flows › Northrim Bancorp (NRIM) › Q1 2026
Northrim Bancorp (NRIM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Northrim Bancorp (NRIM) reported revenue of $59.8M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -4% from the quarter before. Operating margin was 30.0%, net earnings $13.7M (22.9% of revenue).
Northrim Bancorp, Q1 2026: revenue $59.8M (+10% year over year), operating margin 30.0%, net earnings $13.7M, operating cash flow $27.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $59.8M | -4% | +9% |
| Gross profit | $48.6M | -3% | +6% |
| Operating profit | $18.0M | +8% | +2% |
| Net earnings | $13.7M | +10% | +3% |
| Operating cash flow | $27.2M | -22% | +65% |
| Free cash flow | $24.3M | -25% | +49% |
What changed
Revenue was $59.8M in Q1 2026, up 9% year over year and down 4% from the previous quarter. Community Banking was the largest line at 71% of revenue. Community Banking added $3.2M year over year (up 8%), 61% of the total change.
Gross margin was 81.3%, down 2.5 points from Q1 2025. Operating profit was $18.0M, a 30.0% margin (down 2.1 points year over year). Of the extra revenue versus Q1 2025, 7% reached operating profit, below the 32% margin then. Operating expenses grew 9% against revenue growth of 9%. Net earnings were $13.7M, up 3% year over year. The effective tax rate was 23.9%.
Operating cash flow was $27.2M (up 65% year over year), 199% of net earnings. Non-cash charges added back $310K of share-based compensation. Working capital and other items added $13.2M. Capital expenditures of $2.9M left free cash flow of $24.3M.
Questions
What was Northrim Bancorp's revenue in the first quarter 2026?
Northrim Bancorp (NRIM) reported revenue of $59.8M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -4% from the quarter before.
Was Northrim Bancorp profitable in the first quarter 2026?
Operating profit was $18.0M (30.0% of revenue) and net earnings $13.7M.
Source: Northrim Bancorp 10-Q on SEC EDGAR.