NRIM · Northrim Bancorp Inc · Debt

“Initial Notes” means the $60.0 million in aggregate principal amount of the Company’s 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 issued under this Indenture on the date hereof.

Issuer evidence: This INDENTURE dated as of November 26, 2025 is between Northrim BanCorp, Inc., an Alaska corporation and registered bank holding company (the “Company”), and U.S. Bank Trust Company, National Association, a national banking association duly organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

Supporting evidence: “Initial Notes” means the $60.0 million in aggregate principal amount of the Company’s 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 issued under this Indenture on the date hereof.

Supporting evidence: “Initial Notes” means the $60.0 million in aggregate principal amount of the Company’s 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 issued under this Indenture on the date hereof.

On November 26, 2025, Northrim BanCorp, Inc. (the “Company”) entered into Subordinated Note Purchase Agreements (the “Purchase Agreements”) with certain institutional “accredited investors,” as such term is defined in Rule 501 of Regulation D promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”), and “qualified institutional buyers,” as such term is defined in Rule 144A promulgated by the SEC under the Securities Act (collectively, the “Purchasers”). Under the terms of the Purchase Agreements with the Purchasers, the Company issued and sold $60.0 million in aggregate principal amount of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount.

Issuer evidence: On November 26, 2025, Northrim BanCorp, Inc. (the “Company”) entered into Subordinated Note Purchase Agreements (the “Purchase Agreements”) with certain institutional “accredited investors,” as such term is defined in Rule 501 of Regulation D promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”), and “qualified institutional buyers,” as such term is defined in Rule 144A promulgated by the SEC under the Securities Act (collectively, the “Purchasers”). Under the terms of the Purchase Agreements with the Purchasers, the Company issued and sold $60.0 million in aggregate principal amount of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount.

Supporting evidence: The Notes mature on December 1, 2035 and bear interest at a fixed rate of 6.875% per year, from November 26, 2025 to, but excluding, December 1, 2030 or the date of earlier redemption, payable semi-annually in arrears. From and including December 1, 2030 to, but excluding, the maturity date or earlier redemption date, the interest rate will reset quarterly at a variable rate equal to the then current three-month Secured Overnight Financing Rate (“SOFR”), plus 348 basis points, payable quarterly in arrears. As provided in the Notes, the interest rate on the Notes during the applicable floating rate period may be determined based on a rate other than three-month term SOFR.

Supporting evidence: On November 26, 2025, Northrim BanCorp, Inc. (the “Company”) entered into Subordinated Note Purchase Agreements (the “Purchase Agreements”) with certain institutional “accredited investors,” as such term is defined in Rule 501 of Regulation D promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”), and “qualified institutional buyers,” as such term is defined in Rule 144A promulgated by the SEC under the Securities Act (collectively, the “Purchasers”). Under the terms of the Purchase Agreements with the Purchasers, the Company issued and sold $60.0 million in aggregate principal amount of its 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”). The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount.

WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $60.0 million in aggregate principal amount of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035, subject to the terms and conditions set forth in this Indenture.

Issuer evidence: This INDENTURE dated as of November 26, 2025 is between Northrim BanCorp, Inc., an Alaska corporation and registered bank holding company (the “Company”), and U.S. Bank Trust Company, National Association, a national banking association duly organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

Supporting evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $60.0 million in aggregate principal amount of 6.875% Fixed-to-Floating Rate Subordinated Notes due 2035, subject to the terms and conditions set forth in this Indenture.