Northrim BanCorp Inc (NRIM) vs Southern First Bancshares, Inc. (SFST)

Northrim BanCorp Inc and Southern First Bancshares, Inc. are both Banks Regional companies. Northrim BanCorp Inc and Southern First Bancshares, Inc. are of similar size ($569.8M and $544.4M). Northrim BanCorp Inc trades at the lower P/E: 8.1× against 12.8×. Northrim BanCorp Inc grew revenue faster over the last twelve months: 18.6% against 8.92%. Northrim BanCorp Inc has the higher net margin (26.0% vs 16.8%) and the lower return on invested capital (22.7% vs 30.7%). Across the 19 metrics below, Northrim BanCorp Inc leads on 12 and Southern First Bancshares, Inc. on 7.

Valuation

Metric NRIM SFST Banks Regional median
P/E 8.06 12.79 12.15
P/S 2.11 2.36 2.37
P/B 1.60 1.23 1.21
Price to free cash flow 3.00 13.99 10.80
EV/EBITDA n/m n/m —
EV/Sales 1.72 0.88 2.27
Earnings yield 12.41% 7.82% 8.11%
Free cash flow yield 33.33% 7.15% 8.98%

Profitability

Metric NRIM SFST Banks Regional median
Gross margin 84.21% 56.20% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 26.03% 16.78% 18.66%
Free cash flow margin 70.70% 16.86% 21.18%
Return on equity 21.49% 9.93% 10.64%
Return on assets 2.06% 0.88% 1.13%
Return on invested capital 22.73% 30.67% 8.33%

Growth

Metric NRIM SFST Banks Regional median
Revenue growth (TTM) 18.64% 8.92% 6.61%
EPS growth (last fiscal year) 73.41% 96.34% —
Revenue growth, 5-year CAGR 12.79% 12.95% 12.30%
Net income growth, 5-year CAGR 14.46% 10.63% 9.71%

Health

Metric NRIM SFST Banks Regional median
Debt to equity 0.23 0.03 0.22
Current ratio 0.94 1.04 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric NRIM SFST Banks Regional median
Dividend yield 5.14% — 3.75%
Payout ratio 0.43 0.00 0.27

Size

Metric NRIM SFST Banks Regional median
Market cap 544.42m 569.82m 921.07m

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