In the third quarter of 2012, net interest income increased 1% to $10.6 million, compared to $10.5 million in the immediate prior quarter and up 2% compared to $10.4 million in the third quarter of 2011. In the first nine months of 2012, net interest income fell 1% to $31.4 million compared to $31.6 million in the like period a year ago.“Although our net interest margin continues to come under pressure from low interest rates, the growth in the loan portfolio and the continuing contribution from our deposit mix is helping sustain revenues,” Schierhorn noted. In the third quarter of 2012, Northrim’s net interest margin (NIM) was 4.36%, down 15 basis points from 4.51% in the second quarter and down 9 basis points from 4.45% in the third quarter a year ago. Year-to-date, NIM was 4.46% compared to 4.60% in the first nine months of 2011.
Northrim BanCorp Earns $4.1 Million, Or $0.62 Per Diluted Share, In Third Quarter Of 2012
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