secwatch.observer — SEC 8-K summary
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Issuer:     NORTHRIM BANCORP INC (NRIM)
CIK:        0001163370
Form:       8-K
Filed at:   2026-07-23T12:35:37+00:00
Accession:  0001163370-26-000027
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163370/000116337026000027/0001163370-26-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163370/000116337026000027/nrim-20260722.htm
  HTML page:      https://secwatch.observer/filing/0001163370-26-000027

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