Every material Form 8-K NORTHRIM BANCORP INC has filed with the SEC since July 23, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
At a virtual special meeting on October 20, 2026, Northrim BanCorp shareholders approved issuing Northrim common stock as merger consideration to PBCO Financial Corporation shareholders. PBCO's shareholders also approved the merger agreement at their own meeting that day. Completion still requires regulatory approvals and other customary closing conditions, and the companies anticipate closing on or about January 1, 2027.
Shareholder vote: 15,748,028 for, 213,530 against, 42,746 abstained, and 0 broker non-votes.
Shares present: 16,004,304, or 72%, of the 22,244,766 shares outstanding and entitled to vote.
PBCO shareholders approved the merger agreement at a special meeting also held on October 20, 2026.
Companies anticipate the transaction to close on or about January 1, 2027, subject to regulatory approvals and remaining closing conditions.
Northrim BanCorp reported third-quarter 2026 net income of $14.4 million, or $0.63 per diluted share, down from $27.1 million, or $1.20 per share, a year earlier. The results include an $8.8 million impairment on a single $20.0 million loan relationship at Northrim Funding Services, which the company expects to reduce after-tax earnings by $6.7 million, or $0.29 per diluted share, and it says resolution will take several quarters.
Q3 2026 net income $14.4 million ($0.63 per diluted share), versus $15.3 million ($0.68) in Q2 2026 and $27.1 million ($1.20) in Q3 2025
Impairment charge of $8.8 million tied to one $20.0 million relationship; after-tax effect of about $6.7 million or $0.29 per diluted share
Net interest income rose 5% from the prior quarter to $38.9 million and 10% from a year earlier
Proposed PBCO Financial acquisition, all-stock, expected to close in the first quarter of 2027
Northrim BanCorp agreed on July 22, 2026 to acquire PBCO Financial Corporation, the holding company of Oregon-based People's Bank of Commerce, in an all-stock merger valued at approximately $167.3 million. PBCO shareholders would receive 1.160 Northrim shares for each PBCO share, and the deal is expected to close in the fourth quarter of 2026 or early in the first quarter of 2027, subject to shareholder and regulatory approvals. The filing also marks Northrim's first out-of-state expansion and would increase the combined company's assets to about $4.2 billion, with PBCO shareholders owning about 21.1% of the combined company.
Exchange ratio: 1.160 Northrim shares per PBCO share; aggregate value about $167.3 million, or $32.36 per PBCO share, based on Northrim's $27.90 close on July 21, 2026
PBCO had about $776.6 million in assets, $570.1 million in gross loans and $610.1 million in deposits as of June 30, 2026
Termination fee of $6,692,331 payable by PBCO to Northrim under specified circumstances
Expected closing in the fourth quarter of 2026 or early in the first quarter of 2027, subject to shareholder and regulatory approvals
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every NORTHRIM BANCORP INC filing is on SEC EDGAR ↗. 8-K briefs of other companies →