Northrim BanCorp, Inc. and PBCO Financial Corporation Announce Shareholder Approvals for Proposed Acquisition
Key Highlights
- ➤Shareholders approve Northrim’s proposed acquisition of PBCO Financial
- ➤PBCO shareholders approve merger agreement at October 20 special meeting
- ➤Transaction expected to close around January 1, 2027, pending regulatory approvals
- ➤Closing remains subject to customary conditions and required regulatory approvals
Expert Statements
Michael Huston, President and CEO of Northrim Bank
“We appreciate the strong support our shareholders have shown for this merger. This approval is an important step toward bringing together two organizations that share a commitment to community banking, exceptional customer service, and strong local relationships.”
Julia Beattie, President and CEO of People’s Bank of Commerce
“As we move toward completing the transaction, we are excited about the opportunities ahead and what we can accomplish together. As a combined organization, we expect to be able to provide a more robust product offering coupled with local decision-making, and plan to continue delivering excellent customer service.”
ANCHORAGE, Alaska, and MEDFORD, Ore., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) (“Northrim” or the “Company”), the holding company of Northrim Bank, and PBCO Financial Corporation (“PBCO”), the holding company of People’s Bank of Commerce (“People’s Bank”), an Oregon state-chartered bank, jointly announced today that they have received all required shareholder approvals related to Northrim’s proposed acquisition of PBCO. The final vote results on the proposal presented at the special meeting of Northrim’s shareholders on October 20, 2026, will be set forth in Northrim’s Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission. PBCO’s shareholders approved the merger agreement with Northrim at a special meeting of PBCO’s shareholders held on October 20, 2026.
“We appreciate the strong support our shareholders have shown for this merger. This approval is an important step toward bringing together two organizations that share a commitment to community banking, exceptional customer service, and strong local relationships,” said Michael Huston, President and CEO of Northrim Bank.
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