Mergers & Acquisitions ·
Northrim BanCorp, Inc. entered into a definitive agreement on July 22, 2026, to acquire PBCO Financial Corporation in…
NRIMNorthrim Bancorp Inc
Northrim BanCorp, Inc. entered into a definitive agreement on July 22, 2026, to acquire PBCO Financial Corporation in an all-stock transaction valued at approximately $167.3 million. Under the terms, PBCO shareholders will receive 1.160 shares of Northrim common stock for each share of PBCO common stock held. The merger, which marks Northrim's expansion into the Oregon market, is expected to close in the fourth quarter of 2026 or early in the first quarter of 2027, subject to regulatory and shareholder approvals. Upon completion, the combined entity will have approximately $4.2 billion in total assets. Northrim BanCorp, Inc. is a financial holding company that operates community banking services.