Northrim Bancorp Gains Shareholder Approval for PBCO Acquisition

By Bobby Samwell • Thursday, October 22 16:04 • Permanent Link

Northrim Bancorp and PBCO Financial said they have cleared the shareholder hurdle for Northrim’s proposed acquisition of PBCO.

At Northrim’s special meeting on Oct. 20, 2026, shareholders approved the deal, and PBCO shareholders also voted in favor of the merger agreement at their own special meeting the same day.

The companies said they now expect the transaction to close on or about Jan. 1, 2027, assuming remaining regulatory approvals and other customary closing conditions are satisfied or waived.

Northrim operates 21 branches across Alaska. PBCO’s People’s Bank of Commerce has branches in Albany, Ashland, Central Point, Eugene, Grants Pass, Jacksonville, Klamath Falls, Lebanon, Medford and Salem in Oregon, and PBCO also owns Steelhead Finance, an accounts receivable factoring business based in Medford. As a result of these announcements, the company's shares have moved -0.29% on the market, and are now trading at a price of $23.65. If you want to know more, read the company's complete 8-K report here.

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