Northrim BanCorp Approves 4-for-1 Stock Split, Mike Huston To Succeed Joe Schierhorn As Chairman

(RTTNews) - Northrim BanCorp, Inc. (NRIM) Friday announced that its Board of Directors has approved a 4-for-1 forward stock split of its common stock.

The stock split is part of the company's ongoing review of optimal trading and spread levels. The purpose of the split is to enhance stock liquidity, make shares more accessible to a broader base of retail investors, and support increased trading activity.

The shares to be issued in the stock split are expected to be payable after market close on September 22, 2025, for shareholders of record at the close of business on September 18, 2025. Shareholders will receive a distribution of three additional shares of common stock for each share of common stock held.

The stock split will increase the number of shares of Northrim's outstanding common stock from approximately 5.5 million shares to approximately 22.0 million shares.

Further, the company announced the retirement of Board Chairman Joe Schierhorn, effective December 31, 2025. As part of its continuing succession plan, the Board announced that Mike Huston, current President & CEO, will succeed Schierhorn as Chairman, effective January 1, 2026.