Northrim Bancorp Inc. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Northrim Bancorp, Inc. on February 22, 2013, regarding an event that occurred on February 20, 2013. The registrant is incorporated in Alaska and operates Northrim Bank.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance matters and does not contain financial statements or performance data.
Material Changes
The material change reported is the departure of a director from the Company's board of directors. Christopher N. Knudson notified the Governance and Nominating Committee that he will not stand for re-election at the 2013 Annual Shareholders' Meeting. The Committee honored this request. Mr. Knudson continues to serve on the Board of Directors of Northrim Bank.
Outlook, Risks, and Management Commentary
Management explicitly stated that Mr. Knudson's decision is not due to a disagreement with the Company on any matter relating to operations, policies, or practices. No financial guidance, outlook, or new risk factors were disclosed in this filing.
Key Facts for Investor Verification
- Christopher N. Knudson will not seek re-election to the Northrim Bancorp, Inc. board at the 2013 Annual Meeting.
- Mr. Knudson remains a director of the subsidiary, Northrim Bank.
- The departure is not attributed to any disagreement regarding company operations or policies.
- Mr. Knudson was originally elected as a director in 1998.