Northrim BanCorp Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Northrim BanCorp, Inc. on February 2, 2021, regarding an event that occurred on January 28, 2021. The registrant is a holding company for Northrim Bank, based in Anchorage, Alaska.
Financial Metrics
The filing does not provide any financial data, including revenue, profit, cash flow, margins, debt, or liquidity metrics. Item 9.01 explicitly states that financial statements and pro forma financial information are not applicable to this report.
Material Changes
The material change reported is a corporate governance action. On January 28, 2021, the Board of Directors increased the number of directors for both Northrim BanCorp, Inc. and its subsidiary, Northrim Bank, from eleven to twelve. Concurrently, the Board appointed Joseph (Joe) Marushack to serve on both boards until the 2021 Annual Shareholders' Meeting or until a successor is elected and qualified.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The appointment of Mr. Marushack was not made pursuant to any arrangements or understandings between him and the Company or the Bank.
Key Facts for Investors
- Joseph (Joe) Marushack was appointed to the Board of Directors of Northrim BanCorp, Inc. and Northrim Bank on January 28, 2021.
- The total number of directors for both entities increased from eleven to twelve.
- Mr. Marushack's term is set to last until the 2021 Annual Shareholders' Meeting or until a successor is elected.
- No financial performance data or pro forma information is included in this filing.