Northrim BanCorp Announces 4-for-1 Stock Split

Core Viewpoint - Northrim BanCorp, Inc. has announced a 4-for-1 forward stock split to enhance stock liquidity and accessibility for retail investors [1][2]. Group 1: Stock Split Details - The stock split will result in shareholders receiving three additional shares for each share held, increasing the total outstanding shares from approximately 5.5 million to 22.0 million [2]. - The stock split is set to take effect after market close on September 22, 2025, with trading on a post-split basis beginning on September 23, 2025 [2]. - Proportional adjustments will be made to the number of shares underlying stock options and awards, as well as the exercise price [3]. Group 2: Corporate Actions - The total number of authorized shares will increase from 10,000,000 to 40,000,000, and the par value of a share will decrease from $1.00 to $0.25 [3]. - The company plans to file a Form 8-K with the U.S. Securities and Exchange Commission to report the amendment to its Articles of Incorporation [3]. Group 3: Company Overview - Northrim BanCorp is the parent company of Northrim Bank, which operates 20 branches in Alaska and focuses on customer service and knowledge of the local economy [4]. - The company has two wholly-owned subsidiaries: Sallyport Commercial Finance, LLC and Residential Mortgage, LLC, along with an affiliated company, Pacific Wealth Advisors, LLC [4].