The board of Anchorage, Alaska-based Northrim BanCorp Inc. increased the company's quarterly cash dividend to 24 cents per share from 22 cents per share.

The dividend is payable on March 16 to shareholders of record as of March 8.

The company reported 2017 fourth-quarter net income of $214,000, or 3 cents per share, compared to $3.6 million, or 51 cents per share, in the year-ago quarter.