NORTHRIM BANCORP INC

Northrim BanCorp, Inc. announced that its shareholders have approved the issuance of Northrim common stock in connection with its proposed acquisition of PBCO Financial Corporation. PBCO shareholders also approved the merger agreement. The transaction is expected to close around January 1, 2027, pending regulatory approvals and customary closing conditions. Both companies expressed optimism about the combined entity's ability to enhance community banking services.

Northrim BanCorp announced its third quarter 2026 results, reporting net income of $14.4 million, or $0.63 per diluted share. This represents a decrease compared to both the previous quarter and the prior year, largely due to an $8.8 million impairment charge on a single relationship within its Specialty Finance segment. Despite this, net interest income saw a year-over-year increase, and the company continues to progress towards its acquisition of PBCO Financial Corporation, expected to close in the first quarter of 2027.

NORTHRIM BANCORP reported a strong second quarter for 2026, with net income increasing 30% to $15.34 million and basic earnings per share rising to $0.69. The company also saw growth in its balance sheet, with total assets reaching $3.42 billion and total deposits growing to $2.92 billion. Shareholders approved an amendment to the Stock Incentive Plan, and the company continues to evaluate the impact of several new accounting pronouncements.

Northrim BanCorp, Inc. reported strong financial results for the second quarter of 2026, with net income rising to $15.3 million, or $0.68 per diluted share. This marks an increase from $13.7 million in the prior quarter and $11.8 million a year ago, primarily driven by higher net interest income. The company also expanded its footprint by opening its 21st branch in Palmer, Alaska, and saw continued growth in both loans and deposits.

Northrim BanCorp reported strong second-quarter 2026 results with net income of $15.3 million, or $0.68 per diluted share, significantly up from $11.8 million, or $0.52 per diluted share, a year ago. The increase was primarily driven by record net interest income, which rose 11% year-over-year to $37.1 million, and continued loan and deposit growth. The company also expanded its footprint by opening its 21st branch in Palmer, Alaska, and maintained its quarterly dividend at $0.16 per share.

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.

Northrim BanCorp, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share. This dividend will be payable on June 18, 2026, to shareholders of record as of June 11, 2026, representing an annualized yield of 2.59% based on the recent stock price. The company also highlighted its strong first-quarter 2026 net income of $13.7 million, or $0.61 per diluted share, which increased from both the prior quarter and the same quarter last year.

Northrim Bancorp reported increased net income and earnings per share for the first quarter of 2026. Net income rose to $13.68 million, with basic earnings per share reaching $0.62. The company saw a significant increase in net interest income, while also recording a provision for credit losses compared to a benefit in the prior year. Total assets, deposits, and loans also showed growth.

Northrim BanCorp, Inc. reported strong first-quarter 2026 results, with net income rising to $13.7 million, or $0.61 per diluted share, compared to $12.4 million, or $0.55 per diluted share, in the prior quarter. The increase in profitability was driven by higher net interest income and mortgage banking income, despite increased operating expenses and provision for credit losses. The company saw significant year-over-year growth in net interest income, portfolio loans, and total deposits, reflecting consistent execution of its strategy and investments in growth.