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ANCHORAGE, Alaska, May 24, 2019 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.30 per share. The dividend will be payable on June 14, 2019, to shareholders of record at the close of business on June 6, 2019.
“Paying a quarterly cash dividend is an important measure of building shareholder value,” said Joe Schierhorn, President and CEO. At the stock price of $35.79 per share at the close of the market on May 14, 2019, the current dividend equates to a yield of 3.35% on an annualized basis.
On April 29, 2019, Northrim reported earnings of $4.3 million, or $0.62 per diluted share, for the first quarter of 2019. Return on average assets was 1.18% and return on average equity was 8.36% for the first quarter of 2019.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, serving 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
Joe Schierhorn, President, CEO, and COO
Jed Ballard, Chief Financial Officer