Northrim BanCorp strikes $167.3M all-stock deal for PBCO Financial

• Northrim BanCorp (NRIM) to acquire PBCO Financial (PBCO), the parent of People's Bank of Commerce, in an all-stock deal valued at ~$167.3M, expanding its banking franchise into Oregon.
• Under the agreement, PBCO (PBCO) shareholders will receive 1.160 Northrim (NRIM) shares for each PBCO share, valuing the transaction at $32.36 per share based on Northrim's (NRIM) July 21 closing price. PBCO (PBCO) shareholders will own about 21.1% of the combined company after the merger.
• The acquisition will expand Northrim's (NRIM) footprint into Southern Oregon and the Willamette Valley through People's Bank's (PBCO) 11 branches. 
• The combined company is expected to have ~$4.2B in assets, $3B in loans, and $3.5B in deposits.
• The deal is expected to close in Q4 2026 or early Q1 2027.

More on Northrim BanCorp

• Northrim BanCorp to acquire PBCO Financial for $167M
• Seeking Alpha’s Quant Rating on Northrim BanCorp
• Historical earnings data for Northrim BanCorp
• Dividend scorecard for Northrim BanCorp
• Financial information for Northrim BanCorp