Northrim Bancorp Inc 8-K, filed Feb 2, 2021
Northrim Bancorp Inc (NRIM)
8-K
2021-02-02
For: 2021-01-28
View Original
Added on
April 11, 2026
About this 8-K
Northrim Bancorp Inc filed this 8-K on February 2, 2021, reporting on events of January 28, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | February 2, 2021 | ( | ) | ||||||||||||||
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(Exact name of registrant as specified in its charter)
| ________________________ (State or other jurisdiction | _____________ (Commission | _________________ (I.R.S. Employer | ||||||||||||
| of incorporation) | File Number) | Identification No.) | ||||||||||||
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| ___________________________________ (Address of principal executive offices) | ___________ (Zip Code) | |||||||||||||
| Registrant’s telephone number, including area code: | |||||||||||
Not Applicable
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Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act: None
| TITLE OF EACH CLASS | TRADING SYMBOL | NAME OF EXCHANGE | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.126-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On January 28, 2021, the Board of Directors of Northrim BanCorp, Inc. (the “Company”) and its wholly owned subsidiary, Northrim Bank (the “Bank”), increased the number of directors of the Company and the Bank from eleven to twelve. At the same meetings, the Board of Directors of the Company and the Bank appointed Joseph (Joe) Marushack to serve on their respective boards, until the 2021 Annual Shareholders’ Meeting or until a successor has been elected and qualified.
The Board of Directors did not appoint Mr. Marushack pursuant to any arrangements or understandings between Mr. Marushack and the Company or the Bank and any other person.
Mr. Marushack’s appointment to the boards of the Company and the Bank was disclosed publicly on February 2, 2021. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements – not applicable
(b) Proforma financial information – not applicable
(c) Shell company transactions – not applicable
| (d) Exhibit No. | Description | |||||||
| 99.1 | Press Release dated February 2, 2021, announcing the appointment of Joseph (Joe) Marushack to the Board of Directors | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Northrim BanCorp, Inc. | ||||||||||||||
| February 2, 2021 | By: | /s/ Jed W. Ballard | ||||||||||||
| Name: Jed W. Ballard | ||||||||||||||
| Title: EVP, Chief Financial Officer | ||||||||||||||
Exhibit Index
| Exhibit No. | Description | |||||||
Exhibit 99.1
| Contact: | Joe Schierhorn, President, CEO, and COO | ||||
| (907) 261-3308 | |||||
| Jed Ballard, Chief Financial Officer | |||||
| (907) 261-3539 | |||||
| NEWS RELEASE | ||||||||||||||
Northrim BanCorp, Inc. Appoints Joseph Marushack to its Board of Directors
ANCHORAGE, Alaska - February 2, 2021 - Northrim BanCorp, Inc. (NASDAQ:NRIM) announced that Joseph (Joe) Marushack has been appointed to the Board of Directors, effective immediately.
“We are pleased that Joe has decided to join our Board,” said Joe Schierhorn, President and CEO. “Joe is well known and highly respected in Alaska’s business communities, especially within the oil & gas industry. He brings a wealth of knowledge from his executive experience and will be a good addition to our Board of Directors.”
Marushack recently retired from his position as President of ConocoPhillips, Alaska. He began his career with Phillips Petroleum Company in 1982 as a staff engineer in Casper, Wyoming. He has held numerous oil and gas operating and commercial leadership roles in upstream, refining, treasury and planning groups.
In April 2015, Marushack was named President of ConocoPhillips, Alaska following previous roles as President, ConocoPhillips Canada, and President, ConocoPhillips Asia Pacific and Middle East. In these positions, he managed operations in Canada, Australia, Indonesia, China, Malaysia, Qatar and East Timor. These operations included oil and gas production, development, projects and LNG. Marushack was most recently Chairman of the Alaska Oil and Gas Association, and had also served on the boards of United Way of Anchorage, Anchorage Homeless Council, The Nature Conservancy Alaska. He is currently a board member of Yellowstone Forever (the Yellowstone National Park Foundation).
Marushack was born in Norman, Oklahoma and is a native of Rock Springs, Wyoming. He received a Bachelor of Science degree in civil engineering from the University of Wyoming in Laramie in 1980 and a Master of Business Administration in 1982 from the University of Utah in Salt Lake City.
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Soldotna, Juneau, Fairbanks, Ketchikan, and Sitka, and a loan production office in Kodiak, serving 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
www.northrim.com
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Note Transmitted on GlobeNewswire on February 2, 2021, at 12:15 pm Alaska Standard Time.