secwatch.observer — SEC 8-K summary
======================================

Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2025-11-26T23:59:59+00:00
Accession:  0001163370-25-000046
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northrim BanCorp closes $60M subordinated notes offering at 6.875% fixed rate due 2035
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337025000046/0001163370-25-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337025000046/nrim-20251126.htm
  HTML page:      https://secwatch.observer/filing/0001163370-25-000046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer