Highest-materiality recent filing
Northrim BanCorp to acquire PBCO Financial in all-stock deal valued at ~$167M
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).
Northrim BanCorp Q2 net income $15.3M ($0.68 EPS), up 30% YoY; NIMTE expands to 5.01%
Net income $15.3M ($0.68 diluted EPS) vs $11.8M ($0.52) in Q2 2025, up 30% YoY.
Northrim BanCorp reports 2026 annual meeting results; all proposals approved
Elected 12 directors; each received >14.2M votes for out of ~15M cast, with broker nonvotes ~2.5M.
Northrim BanCorp Q1 2026 net income $13.7M ($0.61 diluted EPS), up from Q4 2025
Net income $13.7M ($0.61 diluted) vs $12.4M ($0.55) in Q4 2025 and $13.3M ($0.60) in Q1 2025.
Northrim BanCorp Q4 net income $12.4M ($0.55 EPS); full-year 2025 net income $64.6M, up 75% YoY
Net income of $12.4M ($0.55 diluted EPS) in Q4 2025, up from $10.9M ($0.49) in Q4 2024 but down from $27.1M in Q3 2025 due to prior quarter gain.
Northrim BanCorp enters new employment agreements with five executives; base salaries increased
CEO Huston salary raised to $630,000; receives 20% of base salary as annual deferred comp contribution.
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.
Northrim BanCorp Q3 2025 net income $27.1M ($1.20 EPS), up from $8.8M a year ago
Net income $27.1M ($1.20 diluted EPS) vs $8.8M ($0.39) in Q3 2024; adjusted net income $16.2M ($0.72).
Northrim BanCorp announces 4-for-1 forward stock split effective Sept 18, 2025
4-for-1 forward split effective 2:01 p.m. Alaska Standard Time on September 18, 2025.
Northrim BanCorp Chair Joseph Schierhorn to retire; CEO Mike Huston becomes Chairman Jan 1, 2026
Joseph M. Schierhorn to retire as director and Chairman of Northrim BanCorp and Northrim Bank effective Dec 31, 2025.
NRIM: 4-for-1 stock split; record Sept 18, trading Sept 23
4-for-1 forward stock split; each holder gets three additional shares per share held.
Northrim Q2 net income $11.8M ($2.09 EPS); NIM expands to 4.72%
Net income $11.8M ($2.09 diluted EPS) vs $9.0M ($1.62) in Q2 2024; Q1 2025 was $13.3M ($2.38).
Northrim BanCorp changes auditor to Baker Tilly after Moss Adams merger
Moss Adams LLP resigned as auditor after merging with Baker Tilly US, LLP effective June 3, 2025.
Northrim BanCorp shareholders elect 13 directors, approve 2025 stock plan
All 13 directors elected; broker non-votes total 708,314 for each nominee.
Northrim BanCorp Q1 net income $13.3M ($2.38 EPS); dividend raised to $0.64
Net income $13.3M vs $8.2M a year ago; diluted EPS $2.38 vs $1.48 YoY, record first quarter.
Northrim BanCorp Q4 EPS $1.95 vs $1.19 YoY; NIMTE expands to 4.47%; assets top $3B
Net income $10.9M in Q4 2024, up 65% from $6.6M a year ago; diluted EPS $1.95 vs $1.19.
New employment agreements effective Jan 1, 2025 for CEO Huston (base $535K), CFO Ballard ($376,375), Chairman Schierhorn, EVP Zins ($329,935), and new EVP Edwards ($289,682).
Northrim BanCorp appoints Shauna Hegna to Board of Directors, expanding board to 13
Board increased from 12 to 13 directors; Hegna appointed effective December 5, 2024.
All-cash acquisition of factoring and ABL provider closed Oct 31, 2024; total consideration ~$53.9M.
Northrim BanCorp Q3 2024 EPS $1.57, loans +7% QoQ, dividend raised to $0.62
Net income $8.8M ($1.57 diluted EPS) vs $9.0M ($1.62) in Q2 2024 and $8.4M ($1.48) in Q3 2023.
Northrim BanCorp Q2 net income $9.0M ($1.62/share), up 61% YoY
Net income $9.0M, diluted EPS $1.62 vs $0.98 in Q2 2023; ROAA 1.31%, ROAE 14.84%.
4,451,790 shares represented (80.9% of 5,499,578 outstanding) at May 23, 2024 annual meeting.
Northrim BanCorp Q1 2024 net income $8.2M ($1.48 EPS) up 71% YoY; CEO succession complete
Net income $8.2M ($1.48 diluted EPS) vs $6.6M ($1.19) in Q4 2023 and $4.8M ($0.84) in Q1 2023.
Northrim BanCorp EVP/CIO Benjamin Craig departs effective April 9
Benjamin Craig, EVP & CIO of Northrim Bank, separated from employment effective April 9, 2024.
Northrim BanCorp promotes Huston to President/CEO; Schierhorn resigns as CEO but remains Chairman
Joseph Schierhorn resigns as President, CEO, COO of Northrim BanCorp and CEO of Northrim Bank effective April 6, 2024; remains Chairman.
Northrim BanCorp director David G. Wight resigns effective January 24, 2024
Director David G. Wight notified the Board of his resignation, effective January 24, 2024.
Northrim BanCorp Q4 net income $6.6M ($1.19 EPS) vs $8.6M a year ago
Q4 net income $6.6M ($1.19 diluted EPS) vs $8.6M ($1.48) in Q4 2022 and $8.4M in Q3 2023.
Northrim BanCorp authorizes repurchase of additional 110,000 shares (2% of outstanding)
Board authorized repurchase of up to 110,000 additional shares, ~2% of outstanding.
Northrim BanCorp renews employment contracts for four NEOs, adds EVP/COO Zins agreement
Schierhorn base salary $580,639; Ballard $353,404; Huston $365,161; Craig $284,606.
Northrim BanCorp adopts 2023 Deferred Compensation Plan for key employees
Plan effective Nov 30, 2023; eligible key employees may defer up to 90% of salary and incentive compensation.
Northrim Q3 2023 net income $8.4M ($1.48/diluted) vs $0.98 prior quarter
Net income $8.4M in Q3 2023, up from $5.6M in Q2 2023; diluted EPS $1.48 vs $0.98.
Northrim BanCorp Q2 net income $5.6M, EPS $0.98, up from $0.84 Q1 and $0.83 YoY
Net income of $5.6M ($0.98 diluted EPS) vs $4.8M ($0.84) in Q1 2023 and $4.8M ($0.83) in Q2 2022.
Northrim BanCorp shareholders elect 13 directors, approve stock plan at annual meeting
All 13 director nominees elected; top vote-getter Marilyn Romano with 3.80M for, 19K withheld.
Northrim BanCorp Q1 net income $4.8M, EPS $0.84, down from Q4 $8.6M
Net income $4.8M ($0.84 diluted EPS) vs Q4 2022 $8.6M ($1.48) and Q1 2022 $7.2M ($1.20).
Northrim BanCorp adopts bylaw amendments on shareholder proposals and universal proxy compliance
Board approved bylaw amendments effective March 23, 2023, adding advance notice requirements for shareholder proposals.
Northrim BanCorp appoints Marilyn F. Romano to Board of Directors
Board size increased to 13; Romano appointed effective Jan 26, 2023.
Northrim BanCorp board authorizes additional 285,000 share repurchase (~5% of outstanding)
Board approved buyback of up to 285,000 shares, representing approx. 5% of issued shares.
Northrim BanCorp Q4 net income $8.6M ($1.48 EPS); FY $30.7M ($5.27 EPS) down 12%
Q4 EPS $1.48, down from $1.76 in Q3, up from $1.31 in Q4 2021.
Northrim BanCorp enters new employment agreements with five executives; raises base salaries
CEO Schierhorn base salary increased to $483,866; Ballard to $307,308; Huston to $332,872; Craig to $259,914.
Northrim BanCorp Q3 net income $10.1M ($1.76 EPS); dividend raised to $0.50
Net income $10.1M vs $4.8M in Q2 2022 and $8.9M in Q3 2021; diluted EPS $1.76 vs $0.83 and $1.42.
Northrim BanCorp Q2 net income falls to $4.8M ($0.83 EPS) from $7.2M in Q1; NIM expands to 3.70%
Net income $4.8M ($0.83 EPS), down from $7.2M in Q1 2022 and $8.3M in prior-year quarter.
Shareholders elect 12 directors, approve exec compensation, ratify auditor at 2022 annual meeting
All 12 director nominees elected with FOR votes ranging from 3.63M to 4.03M; broker non-votes of 673,367 on each.
Northrim Q1 2022 net income $7.2M ($1.20 EPS), down from $1.94 a year ago
Net income $7.2M ($1.20 diluted EPS) vs $8.1M ($1.31) in Q4 2021 and $12.2M ($1.94) in Q1 2021.
Northrim BanCorp promotes Huston to Bank President; Zins named COO
Michael Huston named President & Chief Lending Officer of Northrim Bank effective March 26, 2022; base salary increased to $332,872.
Northrim Q4 net income $8.1M ($1.31 EPS); full year 2021 up 14% to $37.5M ($6.00 EPS)
Q4 2021 net income $8.11M ($1.31 diluted EPS) vs $8.88M ($1.42) in Q3 2021 and $10.10M ($1.59) in Q4 2020.
Northrim BanCorp authorizes repurchase of additional 300,000 shares (5% of outstanding)
Board authorized purchase of up to 300,000 additional shares, ~5% of outstanding 6.1M shares.
Northrim BanCorp enters new employment agreements with five executives effective Jan 1, 2022
CEO Schierhorn base salary increased to $465,255; CFO Ballard to $294,074; Huston to $295,230; Craig to $249,317.
Northrim BanCorp announces death of EVP, General Counsel, COO Michael Martin
Michael Martin, EVP, General Counsel, COO and Corporate Secretary of Northrim BanCorp and Northrim Bank, died on November 11, 2021.
Northrim BanCorp Q3 net income $8.9M, EPS $1.42; core loan growth 11% YoY
Net income $8.88M ($1.42 diluted EPS) vs $11.86M ($1.84) in Q3 2020; sequential up from $8.35M ($1.33).
Northrim Q2 net income $8.35M ($1.33/dil) down from Q1 and year ago; NIM contracts
Net income $8.35M ($1.33 diluted EPS) vs $12.18M ($1.94) in Q1 2021 and $9.9M ($1.52) in Q2 2020.
In addition, on January 1, 2025, the Employer entered into an employment with Mark Edwards, Executive Vice President, Chief Credit Officer and Bank Economist of the Bank.
Benjamin Craig, the Executive Vice President and Chief Information Officer of the Company’s wholly-owned subsidiary, Northrim Bank (the “Bank”), separated from employment with the Company and the Bank (collectively, the “Employer”) effective April 9, 2024.
In connection with Mr. Schierhorn's resignation, Michael G. Huston, age 56, will be appointed to the position of President, Chief Executive Officer and Chief Operating Officer of the Company and President and Chief Executive Officer of the Bank, effective April 6, 2024.
On March 29, 2024, Northrim BanCorp, Inc. (the “Company”) and Northrim Bank (the “Bank”) announced by press release that Mr. Joseph M. Schierhorn intends to resign from his position as President, Chief Executive Officer and Chief Operating Officer of the Company and Chief Executive Officer of the Bank, effective April 6, 2024.
On January 24, 2024, David G. Wight, notified the Board of Directors of Northrim BanCorp, Inc. (the “Company”) of his intention to resign as a director of the Company, effective as of January 24, 2024.
At the same meetings, the Board of Directors of the Company and the Bank appointed Marilyn F. Romano to serve on their respective boards, until the 2023 Annual Shareholders’ Meeting or until a successor has been elected and qualified.
Mr. Huston's title has changed from Executive Vice President and Chief Lending Officer of the Bank to President and Chief Lending Officer of the Bank.
Max materiality 0.75 · Median 0.60 · Most common event earnings