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 reported first quarter 2026 net income of $13.7 million, or $0.61 per diluted share, up from $12.4 million, or $0.55, in the prior quarter and slightly above $13.3 million, or $0.60, a year ago.
Results were driven mainly by higher net interest income, which rose to $34.7 million, and stronger mortgage banking income, partly offset by higher operating expenses and a larger provision for credit losses. Net interest margin on a tax-equivalent basis improved to 4.77%.
Portfolio loans reached $2.36 billion, up 3% sequentially and 11% year-over-year, while deposits were $2.87 billion. Return on average assets was 1.69% and return on average equity was 16.60%. The quarterly dividend remained $0.16 per share.
Northrim BanCorp, Inc. reported record results for 2025 driven by loan and deposit growth and a one-time gain related to the sale of assets by Pacific Wealth Advisors. Net income was $64,608 (in thousands) in 2025, up 75% from 2024. The company issued $60 million of subordinated notes and received inaugural credit ratings of BBB (senior) and BBB- (subordinated). The bank completed a 4-for-1 stock split and expanded branch presence, with a 21st branch opening planned in early 2026.
Northrim BanCorp, Inc. is holding a fully virtual 2026 Annual Shareholders’ Meeting on May 28, 2026. Shareholders of record as of March 31, 2026, when 22,239,676 common shares were outstanding, can vote online on director elections and several governance proposals.
Items include electing twelve directors, approving an amendment to the 2025 Stock Incentive Plan to add non‑employee directors as eligible participants, an advisory say‑on‑pay vote on executive compensation, and ratifying Baker Tilly US LLP as independent auditor for 2026. The company details board composition and diversity, committee structures, risk and cybersecurity oversight, and extensive ESG and community initiatives, including over $1.6 million in 2025 community contributions, affordable‑housing financing, small‑business lending programs, and broad employee benefits, wellness, and training efforts.
The Vanguard Group amended a Schedule 13G/A reporting its position in Northrim BanCorp Inc. The filing states that, following an internal realignment referenced to January 12, 2026 and SEC Release No. 34-39538, certain Vanguard subsidiaries will report separately and beneficial ownership is 0 shares of Common Stock for The Vanguard Group as reported in this amendment. The filing lists the issuer as Northrim BanCorp Inc and is signed by Ashley Grim on 03/27/2026.
Northrim Bancorp EVP and CFO Jed W. Ballard reported equity compensation activity rather than open-market trading. On March 23, 2026, restricted stock units and performance stock units converted into a total of 14,359 shares of Northrim common stock, reflecting full vesting of a restricted stock grant and performance-based vesting of performance stock units at 150 percent of target based on a three-year peer comparison.
To cover tax obligations at vesting, 3,860 shares were withheld by the company at a price of $22.85 per share, which is a tax-withholding disposition, not a market sale. After these transactions, Ballard directly owns 30,327 shares of Northrim common stock, including shares previously issued as dividend equivalents under the company’s stock plans.
Northrim Bancorp Chairman, President & CEO Michael G. Huston reported equity award vesting and related share movements. On March 23, 2026, restricted stock units covering 6,104 shares and performance stock units covering 10,286 shares of common stock were exercised or converted into common shares, with no cash exercise price.
Common stock entries show multiple acquisitions under code M and share dispositions under code F for tax withholding at $22.85 per share. Footnotes state the restricted stock units fully vested and the performance stock units vested at 150 percent based on performance over a three-year period. After these transactions, Huston directly holds 96,127 shares of Northrim Bancorp common stock.
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.