---
schema_version: "secwatch.filing_event.v1"
accession: "0001163370-26-000027"
form_type: "8-K"
ticker: "NRIM"
cik: "0001163370"
company_name: "NORTHRIM BANCORP INC"
filed_at: "2026-07-23T12:35:37+00:00"
generated_at: "2026-07-23T12:40:09.084721+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Northrim BanCorp to acquire PBCO Financial in all-stock deal valued at ~$167M

## Summary
- Exchange ratio of 1.160 NRIM shares per PBCO share; aggregate consideration ~$167.3M ($32.36/share based on NRIM close of $27.90 on July 21, 2026).
- Transaction expected to close in Q4 2026 or early Q1 2027, subject to shareholder and regulatory approvals.
- PBCO CEO Julia Beattie to become Oregon market president of Northrim Bank post-closing.
- Termination fee of $6,692,331 payable by PBCO under certain circumstances.
- Combined assets exceed $4 billion; marks Northrim's first out-of-state branch expansion into Oregon.

## SEC filing metadata
- accession: 0001163370-26-000027
- form_type: 8-K
- ticker: NRIM
- cik: 0001163370
- company_name: NORTHRIM BANCORP INC
- filed_at: 2026-07-23T12:35:37+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163370/000116337026000027/0001163370-26-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163370/000116337026000027/nrim-20260722.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163370-26-000027
- JSON: https://secwatch.observer/filing/0001163370-26-000027.json
- Plain text: https://secwatch.observer/filing/0001163370-26-000027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.