Directors authorize repurchase of additional shares

  • Northrim BanCorp expands share buyback program
  • Directors authorize repurchase of up to 110,000 shares
  • Repurchased shares represent about 2% of total outstanding shares
  • Bank had 76,327 shares remaining under previous buyback program
  • Repurchased shares contribute to return on equity and earnings per share growth

Directors for the parent company of Northrim Bank have authorized the expansion of the share buyback program. The company plans to repurchase up to an additional 110,000 Northrim BanCorp shares, which represents about 2% of the total outstanding shares. As of December 31, the bank had 76,327 shares remaining under its previous buyback program. Chief Financial Officer Jed Ballard stated that the repurchased shares contribute to the bank’s return on equity and long-term growth in earnings per share.

Public Companies: Northrim BanCorp (N/A)
Private Companies: undefined
Key People: Jed Ballard (Chief Financial Officer)

Factuality Level: 8
Justification: The article provides factual information about the parent company of Northrim Bank authorizing the repurchase of additional shares. It includes specific details about the number of shares available for repurchase and the number of shares remaining under the current buyback program. The quote from the Chief Financial Officer adds credibility to the information provided.

Noise Level: 7
Justification: The article provides some relevant information about Northrim BanCorp’s stock repurchase program and the number of shares available for repurchase. However, it lacks in-depth analysis, evidence, or actionable insights. It also does not explore the consequences of the buyback program on stakeholders or hold anyone accountable. Overall, the article is relatively short and lacks intellectual rigor.

Financial Relevance: Yes
Financial Markets Impacted: Northrim BanCorp

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article pertains to the financial topic of Northrim BanCorp authorizing the repurchase of additional shares, which can impact the company’s financial markets.

Reported publicly: www.marketwatch.com