AcquisitionJul 22, 2026Pending
🇺🇸 United States
PFPBCO Financial CorporationNBNorthrim BanCorp, Inc.
Financial Institutions › Banks
Equity value$167MEquity value
AnnouncedJul 22, 2026
ConsiderationStock
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Northrim BanCorp agreed to acquire PBCO Financial Corporation, parent of People's Bank of Commerce, in a stock merger at an exchange ratio of 1.160 Northrim shares per PBCO share, for aggregate merger consideration of approximately $167.3 million.
Deal rationale
The combination merges PBCO's Oregon bank into Northrim Bank, expanding Northrim's banking franchise, with PBCO holders owning about 21% of the combined company.
AI-generated from the SEC filingPendingFinancial Institutions › BanksUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | $167M | Headline figure |
|---|---|---|
| Enterprise value | Undisclosed | |
| Consideration | Stock |
Advisors
Buy-side
None listed
Sell-side
DAD.A. Davidson & Co.
Parties
Target
PFPBCO Financial Corporation
- Headquarters
- United States
- Ticker
- PBCO
Acquirer
NBNorthrim BanCorp, Inc.
- Headquarters
- United States
- Ticker
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