{"schema_version":"secwatch.filing_event.v1","accession":"0001163370-25-000046","form_type":"8-K","ticker":"NRIM","cik":"0001163370","company_name":"NORTHRIM BANCORP INC","filed_at":"2025-11-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.911374+00:00","generated_at":"2026-05-16T16:25:13.265142+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Northrim BanCorp closes $60M subordinated notes offering at 6.875% fixed rate due 2035","bullets":["Closed private placement of $60.0M aggregate principal of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035.","Notes bear fixed 6.875% for 5 years, then quarterly floating at 3-month SOFR + 348 basis points.","Notes qualify as Tier 2 regulatory capital; proceeds for general corporate purposes and growth initiatives.","Keefe, Bruyette & Woods served as lead placement agent; Hovde Group as co-placement agent."],"urls":{"canonical":"https://secwatch.observer/filing/0001163370-25-000046","json":"https://secwatch.observer/filing/0001163370-25-000046.json","markdown":"https://secwatch.observer/filing/0001163370-25-000046.md","text":"https://secwatch.observer/filing/0001163370-25-000046.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1163370/000116337025000046/0001163370-25-000046-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1163370/000116337025000046/nrim-20251126.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T16:25:13.265142+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2b7a63d39591ae115ca35a6ae0cf198c211ee95a","claim":"NORTHRIM BANCORP INC incurred senior notes of $60.0 million with institutional accredited investors and qualified institutional buyers at 6.875% per year maturing December 1, 2035.","evidence_excerpt":"the Company issued and sold $60.0 million in aggregate principal amount of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1163370/000116337025000046/0001163370-25-000046-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$60.0 million"},{"label":"Counterparty","value":"institutional accredited investors and qualified institutional buyers"},{"label":"Rate","value":"6.875% per year"},{"label":"Maturity","value":"December 1, 2035"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}