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ANCHORAGE - Northrim BanCorp, Inc. (NASDAQ:NRIM), a $515 million market cap regional bank currently trading above its InvestingPro Fair Value, announced today its board of directors has approved a 4-for-1 forward stock split of its common stock, aimed at enhancing liquidity and making shares more accessible to retail investors.
The Alaska-based community bank, which has shown strong performance with a 13.9% year-to-date return and trades at an attractive P/E ratio of 11.4, will distribute three additional shares of common stock for each share held by shareholders of record at the close of business on September 18, 2025. The additional shares are expected to be distributed after market close on September 22, 2025, with post-split trading beginning September 23, 2025.
The stock split will increase Northrim’s outstanding common stock from approximately 5.5 million shares to 22 million shares. The company will continue trading under its existing NRIM symbol.
As part of the split, Northrim will make proportional adjustments to its outstanding stock options and awards, as well as to shares issuable under its equity incentive plans. The company also plans to increase its total authorized shares from 10 million to 40 million and decrease the par value of common stock from $1.00 to $0.25.
Northrim BanCorp operates 20 branches throughout Alaska and is the parent company of Northrim Bank, Sallyport Commercial Finance, LLC, and Residential Mortgage, LLC.
The information in this article is based on a company press release statement.
In other recent news, Northrim BanCorp declared a regular quarterly cash dividend of $0.64 per share. This dividend will be payable on September 12, 2025, to shareholders who are on record as of September 4, 2025. The announcement reflects the company’s ongoing commitment to returning value to its shareholders. The dividend declaration is one of the key financial updates from the company, as dividends are an important aspect for investors assessing the financial health and shareholder value of a company. At the August 21 closing price, the dividend represents an annualized yield of 2.93%. This development is part of Northrim BanCorp’s recent activities and financial strategies.
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