ANCHORAGE, Alaska, Aug. 8, 2007 (PRIME NEWSWIRE) -- Northrim BanCorp, Inc. (Nasdaq:NRIM) today reported it will be a guest speaker at the Howe Barnes Hoefer & Arnett 12th Annual Community Bank Conference in Chicago. Marc Langland, Chairman, President and CEO, Joe Schierhorn, Chief Financial Officer, and Joe Beedle, Chief Lending Officer, are scheduled to present on Tuesday, August 14, 2007, at 8:30 a.m. CDT (5:30 a.m. ADT). The live and archived presentation can be viewed at www.howebarnes.com.
On July 25, 2007, Northrim reported second quarter profits were driven by a year-over-year increase in net interest margin and growth in core deposits and other operating income. Second quarter net income increased 7% to $3.1 million, or $0.51 per diluted share, compared to $2.9 million, or $0.47 per diluted share, in the second quarter of 2006. All per share results reflect the 5% stock dividend distributed to shareholders on September 1, 2006. For the first half of 2007, Northrim earned $5.9 million, or $0.94 per diluted share compared to $5.8 million or $0.94 per diluted share in the like period a year ago.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, a commercial bank that provides personal and business banking services through locations in Anchorage, Eagle River, Wasilla, and Fairbanks, Alaska, and an asset based lending division in Washington. The bank differentiates itself with a "Customer First Service" philosophy. Affiliated companies include Elliott Cove Capital Management, LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.
The Northrim BanCorp, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3818
About Howe Barnes Hoefer & Arnett
Established in 1915, Howe Barnes Hoefer & Arnett, Inc. is a full service brokerage firm headquartered in Chicago, IL. Its banking department specializes in sales, trading, research, investment banking and asset finance services for community banks and thrifts. Through its private client services department, the firm provides investment advice and products to both individual and institutional customers. Howe Barnes Hoefer & Arnett is the exclusive provider of capital markets services for the Independent Community Bankers of America (ICBA). The firm delivers fixed income products and services through a strategic initiative with Vining Sparks IBG, Memphis, Tennessee.