NORTHRIM BANCORP INC 8K

Northrim BanCorp, Inc. agreed on July 22, 2026 to acquire PBCO Financial Corporation in an all-stock merger, subject to shareholder and regulatory approvals, to combine Northrim Bank and People’s Bank and expand Northrim’s footprint into Oregon.

PBCO Financial Corporation, the holding company of People’s Bank, has signed a definitive Agreement and Plan of Merger dated July 22, 2026 under which Northrim BanCorp, Inc., the Nasdaq-listed parent of Northrim Bank, will acquire PBCO in an all-stock merger, expanding Northrim’s footprint from Alaska into the U.S. “Lower 48.” The employee communication explains that Northrim intends to keep all People’s Bank branches, retain most employees, and eventually rebrand branches to Northrim Bank after full systems integration, anticipated in late 2027, while Steelhead will join Northrim’s Specialty Finance division. The transaction remains subject to shareholder approvals at both Northrim and PBCO, regulatory approvals, and other customary closing conditions, with targeted completion as early as November 2026 or in the first quarter of 2027, and includes provisions for potential staff reductions, severance, transition of benefits, and future participation in Northrim’s compensation and benefit plans.

Filing Facts

CIK

1163370

Ticker

-

Form

8K

Source Type

sec

Accession

0001163370-26-000027

Alert Tier

8