Northrim BanCorp: reports Q3 2026 results, records $8,800,000 impairment

What happened The filing says that on Oct 15, 2026 Northrim announced by press release its earnings for the third quarter ended Sep 30, 2026. The filing also says that management concluded a material impairment charge was required for a single relationship at Northrim Funding Services and recorded an $8,800,000 impairment for the quarter ended Sep 30, 2026.

Key details

• the customer relationship had an aggregate outstanding balance of $20,000,000 as of Sep 30, 2026.
• the impairment charge of $8,800,000 is expected to reduce after-tax earnings by approximately $6,700,000 or $0.29 per diluted share for the three months ended Sep 30, 2026.
• management cited payment disputes, deterioration in expected collections, uncertainty about insurance recoveries, and the need to liquidate collateral; resolution and collection are expected to take several quarters.
• the filing says the company has no additional credit exposure to borrowers operating in the same industry as the customer as of Sep 30, 2026.

Why it may matter The filing reports Item 2.06 (material impairments), which covers the $8,800,000 charge related to collectability and collateral for a single customer in the Specialty Finance segment, and Item 2.02 (results of operations), which notes a press release announcing Q3 2026 earnings. This filing does not show why the insider traded or why the company acted.