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Parent Company Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Balance Sheets |
Balance Sheets at December 31, | 2021 |  | 2020
(In Thousands) |
Assets |  |  |
Cash and cash equivalents | $35,546 |  |  | $24,742 |
Marketable equity securities | 8,420 |  |  | 9,052 |
Investment in Northrim Bank | 202,819 |  |  | 196,002 |
Investment in NISC | 1,336 |  |  | 1,472 |
Investment in NST2 | 310 |  |  | 310 |
Taxes receivable, net | 603 |  |  | 1,973 |
Other assets | 358 |  |  | 497 |
Total Assets | $249,392 |  |  | $234,048 |
Liabilities |  |  |
Junior subordinated debentures | $10,310 |  |  | $10,310 |
Other liabilities | 1,265 |  |  | 2,163 |
Total Liabilities | 11,575 |  |  | 12,473 |
Shareholders' Equity |  |  |
Common stock | 6,015 |  |  | 6,251 |
Additional paid-in capital | 31,162 |  |  | 41,808 |
Retained earnings | 204,046 |  |  | 173,498 |
Accumulated other comprehensive (loss) income | (3,406) |  |  | 18 |
Total Shareholders' Equity | 237,817 |  |  | 221,575 |
Total Liabilities and Shareholders' Equity | $249,392 |  |  | $234,048 |
Statements of Income |
Statements of Income for Years Ended: | 2021 |  | 2020 |  | 2019
(In Thousands) |
Income |  |  |  |  |
Interest income | $551 |  |  | $599 |  |  | $635 |
Equity in undistributed earnings from Northrim Bank | 38,625 |  |  | 33,570 |  |  | 20,680 |
Equity in undistributed earnings from NISC | 66 |  |  | 174 |  |  | 218 |
Gain on sale of marketable equity securities, net | 67 |  |  | 98 |  |  | — |
Unrealized gain (loss) on marketable equity securities | (101) |  |  | 61 |  |  | 911 |
Other income | 151 |  |  | 10 |  |  | 44 |
Total Income | $39,359 |  |  | $34,512 |  |  | $22,488 |
Expense |  |  |  |  |
Interest expense | 382 |  |  | 385 |  |  | 389 |
Administrative and other expenses | 2,754 |  |  | 2,748 |  |  | 2,168 |
Total Expense | 3,136 |  |  | 3,133 |  |  | 2,557 |
Income Before Benefit from Income Taxes | 36,223 |  |  | 31,379 |  |  | 19,931 |
Benefit from income taxes | (1,294) |  |  | (1,509) |  |  | (760) |
Net Income | $37,517 |  |  | $32,888 |  |  | $20,691 |
Statements of Cash Flows |
Statements of Cash Flows for Years Ended: | 2021 |  | 2020 |  | 2019
(In Thousands) |
Operating Activities: |  |  |  |  |
Net income | $37,517 |  |  | $32,888 |  |  | $20,691 |
Adjustments to Reconcile Net Income to Net Cash: |  |  |  |  |
Gain on sale of securities, net | (67) |  |  | (98) |  |  | — |
Equity in undistributed earnings from subsidiaries | (38,691) |  |  | (33,744) |  |  | (20,897) |
Change in fair value marketable equity securities | 101 |  |  | (61) |  |  | (911) |
Stock-based compensation | 1,073 |  |  | 943 |  |  | 832 |
Changes in other assets and liabilities | (2,167) |  |  | (2,118) |  |  | 8,556 |
Net Cash Used from Operating Activities | (2,234) |  |  | (2,190) |  |  | 8,271 |
Investing Activities: |  |  |  |  |
Purchases of marketable equity securities | (493) |  |  | (1,552) |  |  | — |
Proceeds from sales/calls/maturities of marketable equity securities | 1,016 |  |  | 503 |  |  | 229 |
Investment in Northrim Bank, NISC & NST2 | 31,894 |  |  | 21,423 |  |  | 19,488 |
Net Cash Provided by Investing Activities | 32,417 |  |  | 20,374 |  |  | 19,717 |
Financing Activities: |  |  |  |  |
Dividends paid to shareholders | (9,388) |  |  | (8,844) |  |  | (8,512) |
Proceeds from issuance of common stock | 1,543 |  |  | 84 |  |  | 73 |
Repurchase of common stock | (11,534) |  |  | (9,976) |  |  | (12,569) |
Net Cash Used from Financing Activities | (19,379) |  |  | (18,736) |  |  | (21,008) |
Net change in Cash and Cash Equivalents | 10,804 |  |  | (552) |  |  | 6,980 |
Cash and Cash Equivalents at beginning of year | 24,742 |  |  | 25,294 |  |  | 18,314 |
Cash and Cash Equivalents at end of year | $35,546 |  |  | $24,742 |  |  | $25,294 |

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