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Northrim BanCorp: Valuation Looks Appealing, Even With A Softer Mortgage Outlook

Apr. 07, 2021 8:48 AM ETNorthrim BanCorp, Inc. (NRIM)2 Comments
ALG Research profile picture
ALG Research


  • A combination of both softer mortgage revenue and continued margin compression likely drives lower earnings.
  • Credit looks likely to be better than consensus expectations.
  • Future earnings are likely to drift lower and be more in line with peers, however, the current valuation discount paints an overly draconian picture.

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Investment Thesis

When most people hear the term “community bank” they generally think of the local bank down the street. Whether that is the bank they use, or just a bank happen to drive by everyday, they know

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This article was written by

ALG Research profile picture
Passionate about the banking space and capital markets. Worked at multiple banks throughout the United States for a long time, specializing in credit and portfolio management.

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