Welcome to our dedicated page for Northrim Bancorp SEC filings (Ticker: NRIM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Northrim BanCorp filings document the regulatory record of an Alaska bank holding company with community banking, home mortgage lending and specialty finance activities. Recent 8-K reports furnish quarterly earnings releases and describe results drivers such as net interest income, mortgage banking income, purchased receivable income, operating expenses and credit-loss provisioning.
The filing record also includes definitive proxy materials covering board elections, executive compensation, equity awards and shareholder voting matters. Material-event filings document capital-structure actions, including subordinated note purchase agreements, private-placement debt issued for regulatory capital purposes, and amendments to articles of incorporation used to effect a forward common-stock split and related changes to authorized shares and par value.
Northrim BanCorp, Inc. is offering to exchange $60,000,000 aggregate principal amount of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "New Notes") for any and all outstanding unregistered 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "Old Notes"). The exchange offer expires at April 9, 2026, unless extended.
The New Notes have terms identical in all material respects to the Old Notes except that the New Notes are registered under the Securities Act, generally free of transfer restrictions, are not entitled to registration rights and do not have rights to additional interest under the registration rights agreements. The Company will receive no cash proceeds from the exchange; Old Notes exchanged will be cancelled and issuance of New Notes will not increase outstanding indebtedness.
Northrim BanCorp, Inc. is registering up to $60,000,000 of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 and is conducting an exchange offer to issue those registered "New Notes" in exchange for all outstanding privately issued "Old Notes" of the same series.
The exchange will not raise cash or increase indebtedness; New Notes are identical in all material respects to Old Notes except they are registered under the Securities Act, generally transferable, and not entitled to registration rights or additional interest tied to fulfillment of registration obligations. The company will cancel Old Notes surrendered in the exchange. Northrim reported $3.3 billion total assets and $2.9 billion total deposits as of September 30, 2025.
Northrim BanCorp, Inc., a publicly traded Alaska-focused bank holding company, operates three segments: Community Banking, Home Mortgage Lending, and Specialty Finance. It reported $2.8 billion in deposits and $3.3 billion in total assets as of December 31, 2025, making it the third-largest commercial bank in Alaska by deposits.
The company completed its acquisition of Sallyport Commercial Finance in 2024, expanding factoring and asset-based lending across the U.S., Canada and the U.K. About 26% of 2025 revenue came from residential housing-related activities, tying results closely to Alaska real estate markets.
Northrim emphasizes relationship-based commercial lending, strong core deposit funding, and tight credit management, but faces concentration risks from its Alaska-centric footprint, large commercial real estate exposures, sector concentrations (healthcare, accommodations, tourism, retail and aviation), and a small number of large borrowing and large deposit relationships.
Northrim BanCorp, Inc. has filed a Form S-4 for an exchange offer covering up to $60,000,000 aggregate principal amount of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035. Holders can swap privately placed, unregistered notes issued on November 26, 2025 for SEC-registered notes with identical economic terms.
The New Notes pay 6.875% fixed interest to December 1, 2030, then float at a Benchmark rate expected to be Three-Month Term SOFR plus 348 basis points until maturity on December 1, 2035. Northrim receives no cash and total indebtedness does not increase; exchanged Old Notes will be cancelled.
The notes are unsecured, subordinated obligations of the holding company, structurally subordinated to subsidiary liabilities, and are not FDIC insured. They are redeemable at par on or after December 1, 2030, and earlier upon specified tax, regulatory capital or investment company events. No public trading market exists or is expected for the notes.
BANCORP INC executive vice president and chief financial officer Jed W. Ballard reported open-market purchases of company stock. On January 30, 2026, he bought 650 shares of common stock directly at $23.20 per share, bringing his directly held stake to 19,162 shares.
On the same date, 640 shares of common stock were purchased at $23.2799 per share and are reported as indirectly owned “By Adult Child”, with 640 shares shown as indirectly held following the transaction.
NRIM Bancorp’s President, CEO, and COO Michael G. Huston reported buying company stock. On January 29, 2026, he purchased 1,500 shares of common stock at $22.80 per share.
After this open-market purchase, Huston directly owned 83,252 shares of NRIM Bancorp common stock.
Northrim BanCorp, Inc. filed a current report to note that it has released its earnings information for the fourth quarter ended December 31, 2025. The company stated that it announced these results by press release on January 23, 2026, and that this press release is included as Exhibit 99.1 to the report. The filing also clarifies that there are no accompanying financial statements, pro forma financial information, or shell company transactions included with this report.
Northrim BanCorp, Inc. entered into Subordinated Note Purchase Agreements with institutional accredited investors and qualified institutional buyers, issuing and selling $60.0 million of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 at 100% of face value in a private placement. The company plans to use the net proceeds for general corporate purposes and to support regulatory capital ratios for growth initiatives.
The Notes bear a fixed interest rate of 6.875% per year from November 26, 2025 to, but excluding, December 1, 2030, then reset quarterly at three-month SOFR plus 348 basis points until maturity on December 1, 2035. They are unsecured, subordinated obligations intended to qualify as Tier 2 capital, are redeemable at the company’s option on or after December 1, 2030 at par plus accrued interest, and are subject to registration rights that provide for an exchange offer into registered notes with substantially the same terms.
Northrim Bancorp (NRIM) reported sharply higher Q3 results. Net income rose to $27.1 million from $8.8 million a year ago, with diluted EPS of $1.20 versus $0.39. Net interest income increased to $35.3 million from $28.8 million as higher loan yields and balances supported margin performance. Results also included a $14.2 million gain on sale by Pacific Wealth Advisors, which lifted other operating income.
Total assets were $3.31 billion as of September 30, 2025, up from $3.04 billion at December 31, 2024, driven by loan growth to $2.22 billion and deposits to $2.91 billion. The allowance for credit losses on loans was $23.4 million, and provision expense was $1.7 million in the quarter. Year to date, net income reached $52.2 million versus $26.0 million last year. On September 18, the company effected a four-for-one forward stock split and increased authorized common shares to 40,000,000 with a par value of $0.25 per share.