Northrim

Well, I've a cabin in the Northrim, stocked and equipped for times when I want to be unpestered a while.

A Knight of Ghosts and Shadows Anderson, Poul, 1926- 1974

Income from Northrim Benefits Group, Northrim's employee benefit plan affiliate, contributed $593,000 to second quarter and $1.1 million to first half 2011 revenues.

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"We closed the sale of a $3.8 million condominium complex in Anchorage, generating a $449,000 gain, which contributed to cutting our portfolio of real estate owned in half in the second quarter," said Joe Beedle, President of Northrim Bank.

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Northrim Bank sponsors the Alaskanomics blog to provide news, analysis and commentary on Alaska's economy.

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In the first quarter this year, Northrim earned $2.5 million, or $0.37 per diluted share.

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Northrim's net interest margin net interest income as a percentage of average earning assets on a tax equivalent basis was 4.65% in the second quarter of 2011, compared to 4.72% in the prior quarter and 5.06% in the second quarter a year ago.

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Northrim remains well-capitalized with Tier 1 Capital to Risk Adjusted Assets of 15.59% at June 30, 2011.

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Northrim continues to pay a quarterly cash dividend which provides a yield of approximately 2.50% at current market share prices.

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Northrim remains well-capitalized with Tier 1 Capital to Risk Adjusted Assets at 15.59%, up from 14.97% in the first quarter of 2011 and 14.77% in the second quarter of 2010.

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"With strong capital, improving asset quality and continued profitability, we have invested in our infrastructure to position Northrim for the future," said Marc Langland, Chairman, President and CEO of Northrim BanCorp, Inc.

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