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Northrim BanCorp, Inc. Raises Quarterly Cash Dividend 5% to $0.21 per Share

“Our Northrim franchise remains strong and is generating solid profitability, despite the slowing economy in Alaska.  We are committed to providing returns to our shareholders through earnings growth and dividends,” said Joseph Beedle, President and CEO.  At the stock price of $30.75 per share at the close of the market on February 23, 2017, the current dividend equates to a yield of 2.73% on an annualized basis.

On January 30, 2017, Northrim reported net income in the fourth quarter of 2016 totaled $3.6 million, or $0.51 per diluted share, compared to $3.1 million, or $0.44 per diluted share, in the third quarter of 2016, and $4.1 million, or $0.59 per diluted share, in the fourth quarter of 2015.  In 2016, net income decreased to $14.4 million, or $2.06 per diluted share, compared to $17.8 million, or $2.56 per diluted share in 2015.  Approximately half of the decline in earnings in 2016, or $0.26 per diluted share, was due to a previously disclosed non-cash accounting correction and the related change in accounting treatment for the earn-out payments associated with the Company's 2014 acquisition of Residential Mortgage Holding Company, LLC. The remainder of the decline in earnings in 2016 compared to 2015 was mostly the result of a decrease in net interest income primarily due to reduced loan growth, an increase in the provision for loan losses in part due to increased nonperforming assets and the continued softening in the Alaskan economy, a decrease in other operating income primarily due to lower gains recognized on the disposition of previously acquired loans, and an increase in operating expenses.

National Mortgage News - CFPB s First Jury Trial to Test Agency ...

The Consumer Financial Protection Bureau is set to face its first jury trial in April in what is shaping up to be a critical test of the agency's authority.

The CFPB sued Nationwide Biweekly Administration, in Xenia, Ohio, and its founder Daniel Lipsky in 2015 for allegedly making misleading claims about a program to help consumers pay off their mortgage faster and reduce interest payments. But Nationwide has countered that the CFPB used tactics that resemble "Operation Choke Point," a 2013 Justice Department initiative that critics say was overzealous and captured legitimate businesses in addition to shady ones.

The case marks the first time in the CFPB's six-year history that it is a plaintiff in a jury trial. But it also raises questions about how it enforces rules barring unfair, deceptive and abusive acts or practices, known as UDAAP. Critics of the CFPB are likely to seize on the case as an example of the bureau being a "rogue agency," a term repeatedly used by House Financial Services Committee Chairman Jeb Hensarling, R-Texas.

Does anyone know much about Affiliated Mortgage Company in Monroe, LA?

My new mortgage has just been sold to this company. Since I will be making monthly payment to this company for many years to come, I would like to know more about it but can't seem to be able to find out much from the Internet.

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