Banking in the Land of the Midnight Sun
In an earlier article, I introduced readers to Northrim Bancorp (NASDAQ:NRIM), a small regional bank located in Alaska that I believe offered investors both growth prospects and an attractive (and increasing) dividend yield at a fair (if not bargain) price. Since writing my first article about the company in November 2013, Northrim has increased its dividend, considerably exceeded earnings estimates for multiple consecutive quarters, completed an acquisition that has increased its geographic footprint in the state of Alaska and is now in the process of engaging in another acquisition which, I believe, will be significantly increasing the long term earnings power and franchise value of the business.
The only thing...
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