The acquisition values PBCO at $32.36 per share, with consideration tied to Northrim’s stock price.
Northrim BanCorp (NRIM) will acquire PBCO Financial Corporation in an all-stock transaction valued at approximately $167.3 million, or $32.36 per share. The deal’s final value will depend on Northrim’s stock price at closing.
PBCO shareholders will receive Northrim shares upon completion, though the exact ownership stake was not disclosed. The transaction reflects ongoing consolidation in regional banking amid competitive pressures and regulatory scrutiny.
No immediate market reaction was reported following the announcement.