Is NRIM or NWFL more undervalued in 2026?

CirclFi compares Northrim BanCorp Inc (NRIM) and Norwood Financial Corp. (NWFL) using 13 institutional-grade valuation models. NRIM has a Quality of Company score of 9.3/10 while NWFL scores 9.5/10.

Which is a better buy — NRIM or NWFL?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NRIM and NWFL valuations compare?

NRIM at $24.74 and NWFL at $30.72 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NRIM vs NWFL Valuation Comparison 2026 — Intrinsic Value Analysis

NRIM

Banks - Regional

Northrim BanCorp Inc

Quality

9.3

out of 10

Value Trap

LOW

Price

$24.74

Last close

Models

12/13

Active

NWFL

Banks - Regional

Norwood Financial Corp.

Quality

9.5

out of 10

Value Trap

—

Price

$30.72

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	NRIM Fair Value	NRIM Upside	NWFL Fair Value	NWFL Upside
Bayesian DCF	Intrinsic	$29.28	+18.4%	$21.05	-31.5%
Earnings Power Value	Intrinsic	$26.30	+6.3%	$39.17	+27.5%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NRIM vs NWFL — Which Stock Is More Undervalued?

NWFL scores higher with a 9.5/10 quality rating vs NRIM's 9.3/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Northrim BanCorp Inc (NRIM) and Norwood Financial Corp. (NWFL) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NRIM currently trades at $24.74 with a QOC of 9.3/10, while NWFL trades at $30.72 with a QOC of 9.5/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).