MergerJul 22, 2026, 07:51 PM
Northrim to acquire PBCO Financial for $167.3M in all-stock merger
AI Summary
Northrim BanCorp, Inc. announced an agreement to acquire PBCO Financial Corporation in an all-stock transaction valued at approximately $167.3 million, or $32.36 per share of PBCO common stock. Each PBCO shareholder will receive 1.160 shares of Northrim common stock. The merger aims to expand Northrim's geographic footprint into Southern Oregon and the Willamette Valley, increasing the combined asset base to over $4 billion. The transaction is expected to close in the fourth quarter of 2026 or early first quarter of 2027, subject to regulatory and shareholder approvals.
Key Highlights
- Northrim to acquire PBCO Financial for approximately $167.3 million.
- PBCO shareholders to receive 1.160 shares of Northrim common stock per share.
- Aggregate consideration valued at $32.36 per share of PBCO common stock.
- PBCO shareholders will own approximately 21.1% of the combined company.
- Combined company to have over $4.2 billion in assets and $3.5 billion in deposits.
- PBCO had $776.6 million in assets and $610.1 million in deposits as of June 30, 2026.
- Merger expected to close in Q4 2026 or early Q1 2027.
Price Impact
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