What changed in this filing

/stocks — the workspaceLOADING

Item 8. Financial Statements and Supplementary Data

2026-03-06 compared with 2025-03-10 · 299 added, 196 removed, 2015 unchanged (20% of the section changed)

1 unchanged sentence

The following report, audited consolidated financial statements and the notes thereto are set forth in this Annual Report on Form 10-K on the pages indicated:

Report of Independent Registered Public Accounting Firm ( Moss Adams LLP , Everett, Washington , PCAOB ID:

Report of Independent Registered Public Accounting Firm ( Baker Tilly US, LLP , Portland, Oregon , PCAOB ID:

Consolidated Balance Sheets at December 31, 2025 and 202 4

11 unchanged sentences

We have audited the accompanying consolidated balance sheets of Northrim BanCorp, Inc.

and subsidiaries (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the “consolidated financial statements”).

(the Company) as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements”).

We also have audited the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

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Allowance for Credit Losses – Loans

As described in Notes 1 and 5 to the consolidated financial statements, the Company’s allowance for credit losses - loans was $22.0 million at December 31, 2024.

The allowance for credit losses – loans is management’s best estimate of current expected credit losses in its loan portfolio and is estimated using either a discounted cash flow method or a weighted average remaining life method, depending on the nature and size of the loan pool.

Critical Audit Matter Description

As described in Note 1 and Note 5 to the consolidated financial statements, the Company’s allowance for credit losses – loans was $23.7 million at December 31, 2025.

The allowance for credit losses – loans is management’s best estimate of current expected credit losses in its loan portfolio.

The estimate of current expected credit losses is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of loans.

Historical loss experience is the starting point for estimating expected credit losses.

In addition to the quantitative portion of the allowance for credit losses – loans derived using either the discounted cash flow method or weighted average remaining life method, the Company also considers the effects of the qualitative factors in its calculation of expected losses in the loan portfolio.

The qualitative factor methodology is based on quantitative metrics, but also includes a high degree of subjectivity and changes in any of the metrics could have a significant impact on our calculation of the allowance.

The quantitative portion of the allowance for credit losses – loans is derived using either the discounted cash flow method or weighted average remaining life method, depending on the nature and size of the loan pool, and the Company also considers the effects of qualitative factors in its calculation of expected losses in the loan portfolio.

The qualitative factor methodology is based on quantitative metrics, but also includes a high degree of subjectivity and changes in certain metrics could have a significant impact on the allowance calculation.

We identified management’s estimation and application of the forecast of economic conditions used in the calculation of the probability of default and management’s qualitative factors used to estimate the expected loss rate in the allowance for credit losses – loans as a critical audit matter.

The forecast of economic conditions component of the allowance for credit losses - loans is used to compare the conditions that existed during the historical period to current conditions and future expectations, and to make adjustments to the historical data accordingly.

The qualitative factors are management’s best estimate of the adjustments required for additional risk expected in each loan pool.

Auditing management’s judgments regarding the application of forecasted economic conditions and qualitative adjustments involved significant audit effort, as well as especially challenging and subjective auditor judgment when performing audit procedures and evaluating the results of those procedures.

Auditing management’s judgments regarding the application of forecast of economic conditions and qualitative adjustments involved significant audit effort, as well as especially challenging and subjective auditor judgment when performing audit procedures and evaluating the results of those procedures.

How We Addressed the Matter in Our Audit

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.

These procedures included evaluating the design and testing the operating effectiveness of internal controls relating to management’s calculation of the allowance for credit losses – loans, including controls over the reasonableness of the forecast of economic conditions and qualitative factors used in the estimation of the expected loss rate.

Our audit procedures related to the critical audit matter included the following, among others:

• Testing the design, implementation, and operating effectiveness of controls relating to management’s calculation of the allowance for credit losses – loans, including controls over the reasonableness of forecasted economic conditions related to unemployment and qualitative factors used in the estimation of the expected loss rate;

• Obtaining management’s analysis and supporting documentation related to the forecast of economic conditions used to determine the probability of default and testing whether the forecast of economic conditions and key assumptions used in the calculation of the allowance for credit losses - loans are reasonable and supportable based on the analysis provided by management;

• Obtaining management’s analysis and supporting documentation related to the forecast of economic conditions and testing whether the forecast of economic conditions and other key assumptions used in the calculation of the allowance for credit losses - loans are reasonable and supportable based on the analysis provided by management;

• Evaluating the methodology and the reasonableness of assumptions used by management to estimate the forecast of economic conditions and qualitative factors and testing whether these factors were applied to the calculation appropriately;

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• Developing an independent expectation of the qualitative adjustments using a combination of internal and external data and comparing the expected balance to the Company’s recorded amounts.

/s/ Moss Adams LLP

Everett, Washington

/s/ Baker Tilly US, LLP

Portland, Oregon

March 6, 2026

8 unchanged sentences

Interest bearing deposits in other banks 109,864 20,635

Investment securities available for sale, at fair value 478,617 637,936

Marketable equity securities 8,392 8,719

Investment securities available for sale, at fair value 420,661 478,617

Investment securities held to maturity, at amortized cost 26,750 36,750

Investment in Federal Home Loan Bank stock, at cost 5,331 2,980

Investment in Federal Home Loan Bank stock 6,764 5,331

Loans held for sale 100,323 59,957

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Borrowings 12,805 23,045

Junior subordinated debentures 10,310 10,310

Subordinated debentures 68,924 10,310

Operating lease liabilities 5,941 7,487

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Retained earnings 309,575 259,311

Accumulated other comprehensive (loss), net of tax ( 7,024 ) ( 16,437 )

Accumulated other comprehensive income (loss), net of tax 619 ( 7,024 )

Total shareholders' equity 326,544 267,116

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Interest expense on borrowings 1,508 986 1,784

Interest expense on junior subordinated debentures 403 400 389

Interest expense on subordinated debentures 805 403 400

Total Interest Expense 42,769 40,736 28,695

5 unchanged sentences

Purchased receivable income 25,806 7,146 4,482

Gain on sale by Pacific Wealth Advisors 14,486 — —

Bankcard fees 4,675 4,366 3,862

Service charges on deposit accounts 2,986 2,348 2,044

Commercial servicing revenue 486 554 1,628

Unrealized gain (loss) on marketable equity securities

465 120 ( 1,119 )

Unrealized gain on marketable equity securities 169 465 120

Gain on sale of available for sale securities, net 1 — —

Gain on sale of marketable equity securities, net — 112 —

Keyman insurance proceeds — — 2,002

Other income 3,843 3,602 3,104

7 unchanged sentences

Insurance expense 3,212 2,961 2,519

Compensation expense - SCF acquisition payments 2,333 — —

Intangible asset amortization expense — — 17

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Net income $ 64,608 $ 36,971 $ 25,394

Other comprehensive income (loss), net of tax:

Other comprehensive income, net of tax:

Securities available for sale:

Unrealized holding gains (losses) arising during the period

$ 12,741 $ 17,755 ($ 38,283 )

Unrealized holding gains arising during the period $ 10,921 $ 12,741 $ 17,755

Reclassification of net gains included in net income (net of tax

expense of $ 1 , $ 0 , and $ 0 in 2025, 2024, and 2023,

respectively) ( 1 ) — —

Derivatives and hedging activities:

Unrealized holding gains (losses) during the period ( 341 ) 411 ( 88 )

Income tax (expense) benefit related to unrealized gains and losses

Foreign currency translation income 71 — —

Income tax expense related to unrealized gains

( 3,007 ) ( 3,739 ) ( 5,023 )

Other comprehensive income (loss), net of tax 9,413 12,644 ( 25,675 )

Other comprehensive income, net of tax 7,643 9,413 12,644

Comprehensive income $ 72,251 $ 46,384 $ 38,038

11 unchanged sentences

Repurchase of common stock ( 836 ) ( 209 ) ( 8,835 ) — — ( 9,044 )

Other comprehensive (loss), net of tax — — — — ( 25,675 ) ( 25,675 )

Other comprehensive income, net of tax

— — — — 12,644 12,644

Net income — — — 25,394 — 25,394

4 unchanged sentences

Repurchase of common stock ( 60 ) ( 15 ) ( 774 ) — — ( 789 )

Other comprehensive (loss), net of tax — — — — 12,644 12,644

Other comprehensive income, net of tax

— — — — 9,413 9,413

Net income — — — 36,971 — 36,971

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Exercise of stock options and vesting of restricted stock units, net 41 10 ( 223 ) — — ( 213 )

Repurchase of common stock ( 15 ) ( 15 ) ( 774 ) — — ( 789 )

Other comprehensive income, net of tax — — — — 7,643 7,643

11 unchanged sentences

Depreciation and amortization of premises 3,534 3,610 3,294

Amortization of debt issuance costs

Intangible asset amortization — — 17

Amortization of investment security premium, net of discount accretion ( 37 ) 368 483

Unrealized (gain) loss on marketable equity securities ( 465 ) ( 120 ) 1,119

Unrealized (gain) on marketable equity securities ( 169 ) ( 465 ) ( 120 )

Deferred tax (income) expense ( 1,506 ) ( 152 ) 580

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Deferral of loan fees and amortization, net of costs 977 631 ( 54 )

Provision (benefit) for credit losses 3,293 3,842 1,846

Provision for credit losses 3,910 3,293 3,842

Origination of home mortgage servicing rights carried at fair value ( 4,817 ) ( 4,748 ) ( 3,616 )

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Origination of loans held for sale ( 776,032 ) ( 609,153 ) ( 376,154 )

(Gain) loss on sale of other real estate owned ( 392 ) ( 929 ) 414

Gain on sale of other real estate owned

— ( 392 ) ( 929 )

Impairment on other real estate owned — — 123

Gain on sale of Pacific Wealth Advisors ( 14,486 ) — —

Net changes in assets and liabilities:

2 unchanged sentences

(Decrease) increase in other liabilities ( 64 ) ( 5,539 ) 7,185

Net Cash (Used) Provided by Operating Activities

Net Cash Provided (Used) by Operating Activities

139,337 ( 8,727 ) 38,775

4 unchanged sentences

Purchases of FHLB stock ( 22,584 ) ( 32,353 ) ( 5,703 )

Purchases of investment securities held to maturity — — ( 16,750 )

Proceeds from sales/calls/maturities of securities available for sale 165,367 221,159 82,398

Proceeds from sales of marketable equity securities 481 6,973 —

Proceeds from calls/maturities of securities held to maturity 10,000 — —

Proceeds from redemption of FHLB stock 21,151 30,002 6,539

Decrease (increase) decrease in purchased receivables, net 10,672 ( 16,848 ) ( 13,007 )

(Increase) decrease in purchased receivables, net

( 27,606 ) 10,672 ( 16,848 )

Increase in loans, net

( 268,474 ) ( 341,764 ) ( 287,893 )

Proceeds from sale of other real estate owned — 392 1,079

2 unchanged sentences

Net Cash Used by Investing Activities

( 223,429 ) ( 197,625 ) ( 254,921 )

Financing Activities:

2 unchanged sentences

Repayments of borrowings ( 573,150 ) ( 728,390 ) ( 194,920 )

Proceeds from the issuance of subordinated debt 60,000 — —

Payment of debt issuance costs ( 1,400 ) — —

Proceeds from the issuance of common stock 609 801 555

1 unchanged sentence

Cash dividends paid ( 14,547 ) ( 13,751 ) ( 13,609 )

Net Cash Provided (Used) by Financing Activities 150,558 75,326 ( 58,975 )

Net Cash Provided by Financing Activities

167,262 150,558 75,326

Net Change in Cash and Cash Equivalents 83,170 ( 55,794 ) ( 140,820 )

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(the “Company”), is a publicly traded bank holding company headquartered in Anchorage, Alaska that is primarily engaged in the delivery of business and personal banking services through its wholly-owned banking subsidiary, Northrim Bank (“the Bank”).

The Bank also engages in retail mortgage origination services through its wholly-owned subsidiary, Residential Mortgage Holding Company, LLC, the parent company of Residential Mortgage, LLC (collectively “RML”).

The Bank also engages in retail mortgage origination services through its wholly-owned subsidiary, Residential Mortgage, LLC (“RML”).

In addition, the Bank also engages in specialty finance activities through a division of the Bank, Northrim Funding Services (“NFS”), which operates a factoring division in Bellevue, Washington, and through the Bank's wholly-owned subsidiary, Sallyport Commercial Finance, LLC (“SCF”), which provides factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States, Canada, and the United Kingdom.

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As of December 31, 2025, the Company owns a 100 % interest in RML and a 100 % interest in SCF and consolidates these entities into its financial statements.

The Company owns a 21 % interest in PWA, a 40 % interest in SCF LTD, and owned a 30 % interest in Homestate prior to its dissolution in 2023, and these investments are accounted for as equity method investments.

The Company owns a 21 % interest in Pacific Wealth Advisors, LLC (“PWA”), a 40 % interest in SCF LTD, and owned a 30 % interest in Homestate prior to its dissolution in 2023, and these investments are accounted for as equity method investments.

The Company does not consolidate the balance sheets and income statements of PWA, Homestate, or SCF LTD into its financial statements.

The Company has determined that PWA and Homestate are not VIEs.

The Company has determined that SCF LTD is a VIE.

The Company has

determined that SCF LTD is a VIE.

However, the Company does not have a controlling interest in SCF LTD and therefore does not consolidate SCF LTD's operations into its financial statements.

The Company's portion of the r esults of PWA, SCF LTD, and Homestate, prior to its dissolution in 2023, are included in “Other income” in our Consolidated Statements of Income.

The Company's portion of the results of PWA, SCF LTD, and Homestate, prior to its dissolution in 2023, are included in “Other income” in our Consolidated Statements of Income.

Investments in low income housing tax credit companies are presented on a one-line basis in the caption “Other assets” in our Consolidated Balance Sheets.

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The Company uses the "management approach" in determining reportable operating segments.

The management approach considers the internal organization and reporting used the by the Company's CODM for making operating decisions and assessing performance as the source for determining the Company's reportable segments.

The management approach considers the internal organization and reporting used by the Company's CODM for making operating decisions and assessing performance as the source for determining the Company's reportable segments.

Management, including the CODM, review operating results by the revenue of different services.

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Information about the Company's reportable segments is included in Note 26.

Effective September 18, 2025 the Company effected a four -for-one forward stock split of its common stock, a proportionate increase in the number of authorized shares of the common stock from 10,000,000 to 40,000,000 , and a proportionate decrease in the par value of the common stock from $ 1.00 per share to $ 0.25 per share.

All share, equity award, and per share amounts presented throughout this report have been retroactively adjusted to reflect the common stock split.

Reclassifications:

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Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes.

Credit-related impairment is recognized as an allowance for credit losses (“ACL”) on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings.

Credit-related impairment is recognized as an ACL on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings.

The ACL may be reversed if conditions change.

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Depending on the nature and size of the pool of financial assets with similar risk characteristics, the Company uses either a DCF method or a weighted average remaining life method to estimate expected credit losses quantitatively.

The weighted average remaining life method uses exposure at default, along with the expected credit

losses adjusted for prepayments to calculate the required allowance.

The weighted average remaining life method uses exposure at default, along with the expected credit losses adjusted for prepayments to calculate the required allowance.

The Company utilizes peer historical loss data to estimate credit losses under the weighted average remaining life method.

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Loans guaranteed by the U.S.

government, including Paycheck Protection Program (“PPP”) loans The Company actively participated in assisting its customers with applications for loans through the PPP.

Loans funded through the PPP are fully guaranteed by the U.S.

government subject to certain representations and warranties.

This guarantee exists at the inception of the loans and throughout the lives of the loans and was not entered into separately and apart from the loans.

ASC 326 requires credit enhancements that mitigate credit losses, such as the U.S.

government guarantee on PPP loans, to be considered in estimating credit losses.

The guarantee is considered “embedded” and, therefore, is considered when estimating credit loss on the PPP loans and other loans guaranteed by the U.S.

government ASC 326 requires credit enhancements that mitigate credit losses, such as the U.S.

government guarantees, to be considered in estimating credit losses.

These guarantees are considered “embedded” and, therefore, are considered when estimating credit loss on loans guaranteed by the U.S.

Given that the loans are fully guaranteed by the U.S.

government and absent any specific loss information on any of our guaranteed loans, the Company does not carry an ACL on its PPP and other loans guaranteed by the U.S.

government and absent any specific loss information on any of our guaranteed loans, the Company does not carry an ACL on its portion of loans guaranteed by the U.S.

Loan Commitments and Allowance for Credit Losses on Off-Balance Sheet Credit Exposures:

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The Company's revenues that are within the scope of ASC Topic 606 (“Topic 606”) are presented within other operating income and include bankcard fees, service charges on deposits, and other non-interest income including merchant services fees, commissions from sales of mutual funds and other investments, safety deposit box rental fees, bank check and other check fees, and other miscellaneous revenue streams.

The Company generates revenue from factoring services by purchasing trade receivables from customers at a discount.

This revenue is included in Purchased Receivable Income on the Company's Consolidated Statements of Income.

Purchased receivable income represents factoring fees earned for providing financing, credit administration, and collection services.

Purchased receivable income is recognized at the point in time when control of the receivable is transferred to the Company and the related services are substantially complete, which generally occurs upon purchase of the receivable.

Bankcard fees are primarily comprised of debit card income and ATM fees.

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Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date.

The effect on deferred taxes of a change in tax rates is recognized in income in the period

that includes the enactment date.

Our policy is to recognize interest and penalties on unrecognized tax benefits in “Other operating expense" in the Consolidated Statements of Income.

3 unchanged sentences

The assets, liabilities and operations are translated, for consolidation purposes, from the local currency to the U.S.

dollar reporting currency at period-end rates for assets and liabilities and generally at average

rates for results of operations.

dollar reporting currency at period-end rates for assets and liabilities and generally at average rates for results of operations.

Related translation adjustments are reported as a component of other comprehensive income, whereas gains and losses resulting from foreign currency transactions are included in results of operations in other operating income.

Foreign currency translation adjustments were not material in 2024.

Earnings Per Share:

40 unchanged sentences

Accounting pronouncements implemented in 2025

In March 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-02, Investments - Equity Method and Joint Ventures (Topic 323):

Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”).

Under current GAAP, an entity can only elect to apply the proportional amortization method to investments in low income housing tax credit (“LIHTC”) structures.

The amendments in ASU 2023-02 allow entities to elect to account for equity investments made primarily for the purpose of receiving income tax credits using the proportional amortization method, regardless of the tax credit program through which the investment earns income tax credits, if certain conditions are met.

ASU 2023-02 provides amendments to Accounting Standards Codification (“ASC”) paragraph 323-740-25-1, which sets forth the conditions needed to apply the proportional amortization method.

The amendments make certain limited changes to those conditions to clarify their application to a broader group of tax credit investment programs.

However, the conditions in substance remain consistent with current GAAP.

The amendments in this ASU 2023-02 also eliminate certain LIHTC-specific guidance to align the accounting more closely for LIHTCs with the accounting for other equity investments in tax credit structures and require that the delayed equity contribution guidance in paragraph ASC 323-740-25-3 applies only to tax equity investments accounted for using the proportional amortization method.

The Company adopted ASU 2023-02 on January 1, 2024, and the adoption did not have a material impact on the Company's consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”).

Under current GAAP, public entities are required to report a measure of segment profit or loss.

The amendments in ASU 2023-07 do not change or remove this requirement, nor does it change how an entity identifies its operating segments.

The amendments in ASU 2023-07 improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses.

The Company adopted ASU 2023-07 on January 1, 2024, and the adoption did not have a material impact on the Company's consolidated financial statements.

Accounting pronouncements to be implemented in future periods

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”).

2 unchanged sentences

ASU 2023-09 is effective for the Company for fiscal years beginning after December 15, 2024 and may be applied on a prospective or retrospective basis.

The Company intends to adopt ASU 2023-09 prospectively and does not believe that the adoption will have a material impact on the Company's consolidated financial statements.

The Company adopted ASU 2023-09 on December 31, 2025, and the adoption expands our disclosures around income taxes.

In March 2024, the FASB issued ASU 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements (“ASU 2024-02”).

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ASU 2024-02 is effective for the Company for fiscal years beginning after December 15, 2024 and may be applied on a prospective or retrospective basis.

The Company intends to adopt ASU 2024-02 prospectively and does not believe that the adoption will have a material impact on the Company's consolidated financial statements.

The Company adopted ASU 2024-02 on January 1, 2025, and the adoption did not have a material impact on the Company's consolidated financial statements.

In July 2025, the FASB issued ASU 2025‑05, Financial Instruments — Credit Losses (Topic 326):

Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025‑05”).

ASU 2025‑05 is intended to reduce the cost and complexity of applying the CECL model to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, Revenue from Contracts with Customers.

The amendments introduce (i) a practical expedient available to all entities and (ii) an accounting policy election available to entities other than public business entities that also elect the practical expedient.

Under the practical expedient, an entity may assume that current conditions as of the balance sheet date do not change over the remaining life of current accounts receivable and current contract assets.

This simplifies the estimate of expected credit losses for short‑term assets by reducing the need to incorporate detailed forward‑looking macroeconomic forecasts that stakeholders indicated were costly to develop and had limited effect on loss estimates for these assets.

ASU 2025‑05 is effective for annual and interim periods beginning after December 15, 2025, with early adoption permitted.

The amendments apply only to current receivables and contract assets.

The Company adopted ASU 2025-05 on December 31, 2025, and the adoption did not have a material impact on the Company's consolidated financial statements.

Accounting pronouncements to be implemented in future periods

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”).

3 unchanged sentences

The Company intends to adopt ASU 2024-03 prospectively and does not believe that the adoption will have a material impact on the Company's consolidated financial statements.

In November 2025, the FASB issued ASU 2025‑08, Financial Instruments—Credit Losses (Topic 326):

Purchased Loans ("ASU 2025-08").

The amendments in ASU 2025‑08 are intended to simplify and improve the accounting for acquired loans under the CECL model by expanding the use of the “gross‑up” approach currently applied only to PCD assets.

Under prior generally accepted accounting principles, entities were required to distinguish between PCD and non‑PCD acquired loans, resulting in differing Day 1 accounting and concerns about complexity, comparability, and perceived double‑counting of credit losses for non‑PCD loans.

ASU 2025‑08 creates a new category of “purchased seasoned loans,” defined as acquired loans—in a business combination or acquired more than 90 days after origination—other than credit cards, that meet certain criteria.

These loans must now be accounted for using the gross‑up approach.

This method requires an entity to recognize an allowance for expected credit losses at the acquisition date with a corresponding increase to the loan’s amortized cost basis, eliminating Day 1 credit loss expense while reducing subsequent interest income.

Existing guidance for PCD assets remains unchanged.

ASU 2025‑08 is effective for the Company for interim and annual reporting periods beginning after December 15, 2026 and must be applied prospectively to loans acquired after the adoption date.

Early adoption is permitted.

The Company is currently evaluating the impact of ASU 2025‑08 but does not expect the adoption to have a material effect on its consolidated financial statements.

In November 2025, FASB issued ASU 2025‑09, Derivatives and Hedging (Topic 815):

Hedge Accounting Improvements (“ASU 2025‑09”).

The amendments in ASU 2025‑09 clarify and expand certain aspects of hedge accounting to better align financial reporting with the economics of an entity’s risk‑management activities.

The ASU addresses stakeholder feedback following the implementation of prior hedge accounting guidance and issues arising from the global transition away from LIBOR.

The amendments include targeted improvements across several areas of hedge accounting.

Among the key changes, ASU 2025‑09 (i) expands the ability to aggregate forecasted transactions with similar risk exposures in cash flow hedges, (ii) introduces a model that facilitates hedge accounting for forecasted interest payments on “choose‑your‑rate” debt instruments, (iii) broadens hedge accounting for forecasted purchases and sales of nonfinancial assets, and (iv) updates guidance related to net written options used as hedging instruments.

These improvements are intended to reduce complexity, increase consistency, and enhance the decision‑usefulness of hedge accounting outcomes.

ASU 2025‑09 is effective for the Company for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years.

Early adoption is permitted.

The Company is currently evaluating the impact of ASU 2025‑09 and does not expect the adoption to have a material effect on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025‑11, Interim Reporting (Topic 270):

Narrow‑Scope Improvements (“ASU 2025‑11”).

The amendments are intended to improve the clarity and navigability of interim reporting requirements within Topic 270 by clarifying when interim reporting guidance applies, enhancing the organization of required interim disclosures, and specifying the form and content of interim financial statements.

The guidance responds to stakeholder feedback that existing interim reporting requirements were difficult to navigate because of the historical origins and accumulated amendments within Topic 270.

ASU 2025‑11 adds a disclosure principle requiring entities to disclose events that occur after the end of the most recent annual reporting period that have a material impact on the entity.

The amendments also introduce a comprehensive list of required interim disclosures drawn from various Codification topics and clarify the presentation requirements for interim financial statements, including condensed financial statements and accompanying footnotes.

Importantly, the ASU does not change the fundamental nature of interim reporting nor expand or reduce existing disclosure requirements;

rather, it improves clarity and consistency across entities that issue interim financial statements in accordance with generally accepted accounting principles.

ASU 2025‑11 is effective for the Company for interim reporting periods within annual reporting periods beginning after December 15, 2027.

Early adoption is permitted, and the amendments may be applied either prospectively or retrospectively.

The Company is currently evaluating the impact of ASU 2025‑11 and does not expect the adoption to have a material effect on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025‑12, Codification Improvements (“ASU 2025‑12”).

This Update is part of the FASB’s ongoing project to address stakeholder‑identified issues in the Accounting Standards Codification.

amendments consist of technical corrections, clarifications, and other incremental improvements intended to enhance the clarity, consistency, and usability of U.S.

These Codification improvements are not expected to significantly affect current accounting practices or impose substantial costs on most entities.

The amendments span a wide range of Topics and include clarifications to diluted earnings‑per‑share calculations, updates to disclosure requirements for certain lease receivables, refinements to the calculation of reference amounts for beneficial interests, clarification of permissible methods for treasury stock retirements, and guidance regarding the transfer and measurement of receivables arising from contracts with customers.

Although the updates are largely non‑substantive, certain clarifications may affect how entities apply existing guidance where the prior Codification language was ambiguous or inconsistent.

ASU 2025‑12 is effective for the Company for annual reporting periods beginning after December 15, 2026, including interim periods within those annual periods.

Early adoption is permitted.

The Company is currently evaluating the impact of ASU 2025‑12 and does not expect the adoption to have a material effect on its consolidated financial statements.

NOTE 2 - Business Combinations

1 unchanged sentence

The primary reason for the acquisition was to expand the Company's presence in the specialty finance industry.

SCF provides factoring, asset based lending, and alternative working capital solutions to small and medium sized enterprises in the United States, and, to a lessor extent, in Canada and the United Kingdom through its subsidiaries.

SCF will operate as a wholly-owned subsidiary, and is expected to complement the products currently offered by Northrim Funding Services, a factoring division of Northrim Bank.

SCF provides factoring, asset based lending, and alternative working capital solutions to small and medium sized enterprises in the United States, and, to a lesser extent, in Canada and the United Kingdom through its subsidiaries.

SCF operates as a wholly-owned subsidiary, and is expected to complement the products currently offered by NFS, a factoring division of the Bank.

The consideration transferred or transferable to the former owners of SCF and the assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting and were recorded at their estimated fair values as of the October 31, 2024 acquisition date.

6 unchanged sentences

No other intangibles were identified.

In February 2025, in accordance with the terms of the purchase agreement, the Company determined the final value of consideration transferred to the former owners of SCF.

The final value of consideration transferred decreased $ 144,000 to $ 47.7 million from $ 47.9 million which decreased goodwill to $ 34.9 million.

The former owners of SCF (the “sellers”) will receive additional cash proceeds (the “earn-out payments”) of up to $ 6 million.

The earn-out payments of $ 2 million per year are payable on each of the first three anniversaries of the closing date.

The earn-out payments of $ 2 million per year are payable on each of the first three anniversaries of the closing date, and the first payment of $ 2 million was made in the fourth quarter of 2025.

The purchase agreement provides for the these earn-out payments to be paid to the sellers in future periods, provided that certain principal employees of SCF, including certain of the sellers, have not been terminated for cause or terminated their employment for good reason.

9 unchanged sentences

Goodwill ($ 35,001 )

The $ 35.0 million of goodwill recorded in connection with the acquisition represents the excess purchase price over the estimated fair value of the net assets acquired, and resulted from the expected decrease in funding costs and, to a lesser extent, expected operational efficiencies.

The $ 35.0 million of goodwill recorded in connection with the acquisition of SCF represents the excess purchase price over the estimated fair value of the net assets acquired, and resulted from the expected decrease in funding costs and, to a lesser extent, expected operational efficiencies.

All of the goodwill is expected to be deductible for tax purposes.

73 unchanged sentences

Treasury and government sponsored entities $ 389,391 $ 1,717 ($ 2,371 ) $ — $ 388,737

Agency mortgage-backed securities 4,797 1 — — 4,798

Corporate bonds 5,003 — ( 51 ) — 4,952

4 unchanged sentences

Treasury and government sponsored entities $ 444,370 $ 294 ($ 11,733 ) $ — $ 432,931

Municipal securities 820 — ( 4 ) — 816

Corporate bonds 9,009 9 ( 223 ) — 8,795

21 unchanged sentences

Corporate bonds — — 4,592 ( 51 ) 4,592 ( 51 )

Collateralized loan obligations — — 4,993 ( 2 ) 4,993 ( 2 )

Total $ 19,992 ($ 8 ) $ 240,979 ($ 2,414 ) $ 260,971 ($ 2,422 )

1 unchanged sentence

Treasury and government sponsored entities $ 44,262 ($ 422 ) $ 358,446 ($ 11,311 ) $ 402,708 ($ 11,733 )

Municipal securities — — 816 ( 4 ) 816 ( 4 )

Corporate bonds — — 4,786 ( 223 ) 4,786 ( 223 )

3 unchanged sentences

Consideration is given to the extent to which the fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

At December 31, 2024 and 2023, there were four and two available for sale securities in an unrealized loss position without an ACL, respectively, that have been in a loss position for less than twelve months.

At December 31, 2025 and 2024, there were two and four available for sale securities in an unrealized loss position without an ACL, respectively, that have been in a loss position for less than twelve months.

There were 27 and 40 available for sale securities without an ACL with unrealized losses at December 31, 2025 and 2024, respectively, that have been at a loss position for more than twelve months.

At both December 31, 2025 and 2024, there were zero held to maturity securities in an unrealized loss position without an ACL that have been in a loss position for less than twelve months.

At December 31, 2024 and 2023, there were three and five held to maturity securities in an unrealized loss position without an ACL, respectively, that have been in a loss position for more than twelve months.

At December 31, 2025 and 2024, there were two and three held to maturity securities in an unrealized loss position without an ACL, respectively, that have been in a loss position for more than twelve months.

Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost.

8 unchanged sentences

1-5 years 179,683 180,759 3.75 %

5-10 years 9,679 9,943 4.41 %

Total $ 389,391 $ 388,737 2.54 %

Agency mortgage-backed securities

5-10 years $ 972 $ 972 5.28 %

Over 10 years 3,825 3,826 4.89 %

Total $ 4,797 $ 4,798 4.96 %

Corporate bonds

15 unchanged sentences

Treasury and government sponsored entities $ 9,368 $ 9,810 $ 11,074

Agency mortgage-backed securities 173 — —

Other 1,941 3,943 4,741

29 unchanged sentences

The activity in the ACL related to loans held for investment for the periods indicated is as follows:

Beginning Balance Impact of SCF acquisition Credit Loss Expense (Benefit) Charge-offs Recoveries Ending Balance

Beginning Balance Credit Loss Expense (Benefit) Charge-offs Recoveries Ending Balance

(In Thousands)

13 unchanged sentences

Total $ 22,020 $ 3,510 ($ 2,070 ) $ 277 $ 23,737

Beginning Balance Credit Loss Expense (Benefit) Charge-offs Recoveries Ending Balance

Beginning Balance Impact of SCF acquisition Credit Loss Expense (Benefit) Charge-offs Recoveries Ending Balance

(In Thousands)

13 unchanged sentences

Total $ 17,270 $ 1,260 $ 3,276 ($ 189 ) $ 403 $ 22,020

Loans Individually Evaluated for Credit Losses

December 31, 2025 December 31, 2024

(In Thousands) Pooled Loans Individually Evaluated Loans Pooled Loans Individually Evaluated Loans

Commercial & industrial loans $ 410,521 $ 73,869 $ 417,311 $ 20,611

Commercial real estate:

Owner occupied properties 414,205 18,952 417,376 716

Non-owner occupied and multifamily properties 753,441 9,739 606,813 8,849

Residential real estate:

1-4 family residential properties secured by first liens 242,865 320 270,966 —

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens 66,744 372 48,694 466

1-4 family residential construction loans 39,059 — 39,516 —

Other construction, land development and raw land loans 171,935 1,654 211,035 1,526

Obligations of states and political subdivisions in the US 32,434 — 29,471 —

Agricultural production, including commercial fishing 47,445 — 45,840 —

Consumer loans 9,763 — 7,638 —

Other loans 2,181 — 2,435 —

Total $ 2,190,593 $ 104,906 $ 2,097,095 $ 32,168

Credit Quality Information

21 unchanged sentences

An asset classified "loss" is considered uncollectible and of such little value that its continuance on the books is not warranted.

This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may be affected in the future.

This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not

practical or desirable to defer writing off this basically worthless asset, even though partial recovery may be affected in the future.

The following tables present the Company's portfolio of risk-rated loans by grade and by year of origination.

154 unchanged sentences

December 31, 2025 December 31, 2024

(In Thousands) Nonaccrual Nonaccrual With No ACL Nonaccrual Nonaccrual With No ACL

(In Thousands) Nonaccrual Nonaccrual With No ACL ACL on Nonaccrual Nonaccrual Nonaccrual With No ACL ACL on Nonaccrual

Commercial & industrial loans $ 4,251 $ 1,641 $ 1,248 $ 4,983 $ 4,760 $ 1,263

3 unchanged sentences

1-4 family residential properties secured by first liens 514 — 60 233 — 4

1-4 family residential properties secured by junior liens

and revolving secured by 1-4 family first liens 550 466 219 176

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens 415 372 1 550 466 1

1-4 family residential construction loans — — — 94 94 —

4 unchanged sentences

Interest income which would have been recognized on nonaccrual loans for 2025, 2024, and 2023 amounted to $ 337,000 , $ 371,000 , and $ 499,000 , respectively.

There was zero and $ 8,000 in interest on nonaccrual loans reversed through interest income in 2024 and 2023, respectively.

There was no interest on nonaccrual loans reversed through interest income in 2025 and 2024, respectively.

There was no interest recognized on nonaccrual loans with a principal balance during 2025 or 2024.

However, the Company recognized interest income of $ 241,000 , $ 656,000 , and $ 2.2 million in 2024, 2023, and 2022, respectively, related to interest collected on nonaccrual loans whose principal has been paid down to zero.

However, the Company recognized interest income of $ 214,000 , $ 241,000 , and $ 656,000 in 2025, 2024, and 2023, respectively, related to interest collected on nonaccrual loans whose principal has been paid down to zero.

Loans are classified as collateral dependent when it is probable that the Company will be unable to collect the scheduled payments of principal and interest when due, and repayment is expected to be provided substantially through the sale of the collateral.

12 unchanged sentences

Commercial & industrial loans $ 3,239 $ — $ 230 $ 3,469 0.72 %

Residential real estate:

1-4 family residential properties secured by first liens — 372 — 372 0.14 %

Commercial real estate:

Owner occupied properties — — 3,193 3,193 0.74 %

Total $ 3,239 $ — $ 3,423 $ 6,662 0.29 %

4 unchanged sentences

Commercial & industrial loans $ 4,671 $ — $ 404 $ 5,075 1.16 %

Commercial real estate:

Owner occupied properties — — 260 260 0.07 %

Residential real estate:

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens 115 — — 115 0.34 %

1-4 family residential construction loans 109 — — 109 0.35 %

Other construction, land development and raw land loans 968 — 577 1,545 1.04 %

1-4 family residential properties secured by first liens — 372 — 372 0.14 %

Total $ 4,671 $ 372 $ 404 $ 5,447 0.26 %

5 unchanged sentences

Commercial & industrial loans $ — 0.25 % 23

Commercial real estate:

Owner occupied properties — — % 33

Twelve Months Ended December 31, 2024

2 unchanged sentences

Commercial & industrial loans $ — 8 % 10

Commercial real estate:

Owner occupied properties — — % 5

Residential real estate:

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens — — % 5

1-4 family residential construction loans — — % 5

Other construction, land development and raw land loans — — % 5

The Company monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.

3 unchanged sentences

(In Thousands)

Commercial & industrial loans $ — $ — $ — $ —

Commercial real estate:

Owner occupied properties $ — $ — $ — $ —

Residential real estate:

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens — — 466 466

Other construction, land development and raw land loans — — 1,527 1,527

Total $ — $ — $ — $ —

2 unchanged sentences

(In Thousands)

Commercial & industrial loans $ — $ — $ 956 $ 956

Commercial real estate:

2 unchanged sentences

1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens — — 466 466

1-4 family residential construction loans — — 109 109

Other construction, land development and raw land loans — — 1,527 1,527

2 unchanged sentences

December 31, 2025

Term modification Term and payment modification

Term modification Payment modification Term and payment modification

(In Thousands)

30 unchanged sentences

Pledged Loans

At December 31, 2024, there were $ 666.7 million loans pledged as collateral to secure public deposits or available borrowing lines.

At December 31, 2023, no loans were pledged as collateral to secure available borrowing lines and there were no loans pledged as collateral to secure public deposits.

At December 31, 2025, there were $ 771.1 million loans pledged as collateral to secure available borrowing lines and no loans pledged as collateral to secure public deposits.

At December 31, 2024, $ 666.7 million loans were pledged as collateral to secure available borrowing lines and there were no loans pledged as collateral to secure public deposits.

NOTE 7 - Purchased Receivables

1 unchanged sentence

Income on purchased receivables is accrued and recognized on the balance outstanding using an effective interest method except when management believes doubt exists as to the collectability of the income or principal.

There were four nonperforming purchased receivables with a balance of $ 3.8 million as of December 31, 2024 for which management is not accruing income and one nonperforming purchased receivable with a balance of $ 808,000 as of December 31, 2023.

The $ 3.6 million ACL at December 31, 2024 is associated with the $ 3.8 million nonperforming and past due purchased receivable balances.

There are no purchased receivables past due at December 31, 2023, and there was no ACL associated with purchased receivables as of December 31, 2023.

There was one nonperforming purchased receivable with a balance of $ 67,000 as of December 31, 2025 for which management is not accruing income and four nonperforming purchased receivables with a balance of $ 3.8 million as of December 31, 2024.

However, the Company recognized nonaccrual fee income of $ 899,000 in 2025 related to fees collected on nonaccrual purchased receivables whose principal has been paid down to zero.

There is no ACL at December 31, 2025 associated with the $ 67,000 nonperforming and past due purchased receivable balances.

The $ 3.6 million ACL at December 31, 2024 is associated with $ 3.8 million nonperforming and past due purchased receivables as of December 31, 2024.

The following table summarizes the components of net purchased receivables at December 31, for the years indicated:

7 unchanged sentences

Impact of acquisition of Sallyport Commercial Finance, LLC — 3,524 —

Adjustment related to PCD collections payable to sellers 1

( 1,513 ) — —

Charge-offs ( 2,211 ) — —

3 unchanged sentences

Balance at end of year $ — $ 3,649 $ —

1 Represents a reduction in the allowance for credit losses on a purchased credit deteriorated purchased receivable acquired in 2024 in connection with the SCF acquisition.

Collections received during the period presented above are contractually payable to the sellers under the purchase agreement if collected within one year of the acquisition of SCF.

Accordingly, the decrease in the allowance was offset by the recognition of a liability to the sellers, and no benefit was recognized in the provision for credit losses.

NOTE 8 - Servicing Rights

19 unchanged sentences

The following table outlines the weighted average key assumptions used in measuring the fair value of MSRs and the sensitivity of the current fair value of MSRs to immediate adverse changes in those assumptions as of the dates indicated.

See Note 25 for additional information on key assumptions for MSRs.

See Note 25 of the notes to the Company's Consolidated Financial Statements included in Part II.

Item 8 of this report for additional information on key assumptions for MSRs.

(In Thousands)

27 unchanged sentences

Commercial servicing rights

CSRs have a carrying value of $ 2.2 million at both December 31, 2024 and 2023, and total commercial loans serviced for others were $ 279.7 million and $ 282.2 million at December 31, 2024 and 2023, respectively.

CSRs have a carrying value of $ 2.3 million at December 31, 2025 and $ 2.2 million at December 31, 2024 and total commercial loans serviced for others were $ 296.2 million and $ 279.7 million at December 31, 2025 and 2024, respectively.

Key assumptions used in measuring the fair value of CSRs as of December 31, 2025 and 2024 include an average conditional prepayment rate of 11.71 % and 11.38 % and a discount rate of 12.00 % and 12.00 %, respectively.

27 unchanged sentences

As of December 31, 2025, the Company has operating lease ROU assets of $ 5.9 million and operating lease liabilities of $ 5.9 million.

As of December 31, 2023, the Company has operating lease ROU assets of $ 9.1 million and operating lease liabilities of $ 9.1 million.

As of December 31, 2024, the Company has operating lease ROU assets of $ 7.5

million and operating lease liabilities of $ 7.5 million.

The Company does not have any agreements that are classified as finance leases.

The following table presents additional information about the Company's operating leases:

The following table presents additional information about the Company's operating leases for the years indicated:

(In Thousands) 2025 2024

26 unchanged sentences

Investment in Low Income Housing Partnerships $ 34,078 $ 24,266

Due from Federal Home Loan Bank of Des Moines 14,600 —

Interest rate swaps not designated as hedging instruments, at fair value 13,011 10,470

Accrued interest receivable 12,542 11,502

Interest rate swaps not designated as hedging instruments, at fair value 7,999 13,011

Due from sale of Pacific Wealth Advisors 6,339 —

Bank owned life insurance, net 4,050 3,926

Assets held for deferred compensation plans 3,266 —

Prepaid expenses 2,608 2,644

Commercial servicing rights, at fair value 2,342 2,194

Deferred taxes, net 2,177 5,764

Taxes receivable 1,751 1,984

Equity method investments 1,159 1,260

Software 744 740

Interest rate lock commitments 923 465

Deferred taxes, net 675 2,177

Software 535 744

Due from Federal Home Loan Bank of Des Moines — 14,600

Equity method investments — 1,159

Other assets 7,064 7,147

16 unchanged sentences

R4 - Old Mat II July 2023 17 5,739 ( 5,532 ) 207

R4 - Baxter Borealis July 2025 17 7,560 ( 780 ) 6,780

R4 - Ketchikan PSH July 2025 17 5,847 ( 510 ) 5,337

Total $ 70,559 ($ 57,319 ) $ 13,240

6 unchanged sentences

The Company offers IntraFi ® Network Deposits SM as a member of IntraFi® Network SM (Network).

When a Network member places a deposit using IntraFi Network Deposits, that certificate of deposit or deposit account is divided into amounts under the standard FDIC insurance maximum ($250,000) and is allocated among member banks, making the large deposit eligible for FDIC insurance.

When a Network member places a deposit using IntraFi Network Deposits, that certificate of deposit or interest-bearing demand deposit account is divided into amounts under the standard FDIC insurance maximum ($250,000) and is allocated among member banks, making the large deposit eligible for FDIC insurance.

In addition to customer deposit placement, the IntraFi Network Deposits also allows placement of the Bank's own investment dollars.

3 unchanged sentences

NOTE 15 - Borrowings

The Company has a maximum line of credit with the FHLB approximating 45 % of eligible assets, however the Company is subject to provisions under Alaska state law, which generally limit the amount of the Bank's outstanding debt to 35 % of total assets or $ 1.06 billion at December 31, 2024 and $ 975.9 million at December 31, 2023.

The Company has a maximum line of credit with the FHLB approximating 45 % of eligible assets, however the Company is subject to provisions under Alaska state law, which generally limit the amount of the Bank's outstanding debt to 15 % of total assets or $ 490.6 million at December 31, 2025 and $ 454.1 million at December 31, 2024.

FHLB advances are subject to collateral criteria that require the Company to pledge assets under a blanket pledge arrangement as collateral for its borrowings from the FHLB.

3 unchanged sentences

These advances have original terms of either 18 or 20 years with 30 year amortization periods and fixed interest rates ranging from 1.23 % to 3.25 %.

Additionally, the Company has a short-term $ 9.8 million advance from the FHLB outstanding as of December 31, 2024 at an interest rate of 4.62 % which resets daily.

The Federal Reserve Bank is holding $ 70 million of securities as collateral to secure available borrowing lines through the discount window of $ 69.2 million at December 31, 2025.

4 unchanged sentences

(In Thousands)

2025 $ 10,241

Thereafter 10,433

2 unchanged sentences

The average interest rates paid on long-term debt in the same periods was 3.76 %, 3.13 %, and 2.93 %, respectively.

NOTE 16 - Junior Subordinated Debentures

NOTE 16 - Subordinated Debentures

In December of 2005, the Company formed a wholly-owned Connecticut statutory business trust subsidiary, Northrim Statutory Trust 2 (the “Trust 2”), which issued $ 10 million of guaranteed undivided beneficial interests in the Company’s Junior Subordinated Deferrable Interest Debentures (“Trust Preferred Securities 2”).

5 unchanged sentences

The debentures, which represent the sole asset of Trust 2, accrue and pay distributions quarterly at a variable rate of 90 -day CME SOFR plus tenor spread adjustment 0.26 % plus 1.37 % per annum, adjusted quarterly, of the stated liquidation value of $ 1,000 per capital security as of December 31, 2024.

The debentures accrued and paid distributions quarterly at a variable rate of 90 -day LIBOR plus 1.37 % per annum, adjusted quarterly, of the stated liquidation value of $ 1,000 per capital security through the cessation of LIBOR in 2023.

The interest rate on these debentures was 5.35 % at December 31, 2025 compared to 5.99 % at December 31, 2024.

7 unchanged sentences

As specified in the indenture, if the debentures are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest.

In November of 2025, 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 “Subordinated Notes”).

The Subordinated Notes were issued by the Company to the Purchasers at a price equal to 100 % of their face amount.

The Subordinated 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 SOFR, plus 3.48 % per annum, payable quarterly in arrears.

As provided in the Subordinated Notes, the interest rate on the Subordinated Notes during the applicable floating rate period may be determined based on a rate other than three-month term SOFR.

The interest cost to the Company on these debentures was $ 401,000 in 2025.

The Company incurred debt issuance costs of $ 1.4 million which will amortize through December 1, 2035.

The amortization expense amounted to $ 14,000 in 2025.

Prior to December 1, 2030, the Company may redeem the Subordinated Notes, in whole but not in part, only under certain limited circumstances set forth in the indenture governing the Subordinated Notes.

On or after December 1, 2030, the Company may redeem the Subordinated Notes, in whole or in part, at its option, on any interest payment date.

Any redemption by the Company would be at a redemption price equal to 100 % of the principal amount of the Subordinated Notes being redeemed, together with any accrued and unpaid interest on the Subordinated Notes being redeemed to, but excluding, the date of redemption.

The Subordinated Notes are not subject to redemption at the option of the holder.

Principal and interest on the Subordinated Notes are subject to acceleration only in limited circumstances in the case of certain bankruptcy and insolvency-related events with respect to the Company.

The Subordinated Notes are unsecured, subordinated obligations of the Company, are not obligations of, and are not guaranteed by, any subsidiary of the Company, and rank junior in right of payment to the Company’s current and future senior indebtedness.

The Subordinated Notes are intended to qualify as Tier 2 capital of the Company for regulatory capital purposes.

NOTE 17 – Accumulated Other Comprehensive Income (Loss)

The following table shows changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2025, 2024, and 2023:

(In Thousands) Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivatives and hedging Total

(In Thousands) Unrealized gains (losses) on securities available for sale Unrealized gains (losses) on derivatives and hedging Reclassification of net gains included in net income Foreign currency translation adjustments Total

Balance at December 31, 2022 ($ 30,122 ) $ 1,041 $ — $ — ($ 29,081 )

Other comprehensive income (loss), net of tax expense of $ 10,199

Other comprehensive income (loss), net of tax benefit of $( 5,023 )

12,707 ( 63 ) — — 12,644

13 unchanged sentences

The Company expensed $ 2.9 million, $ 2.1 million, and $ 2.0 million, in 2025, 2024, and 2023, respectively, for 401(k) contributions and included this expense in “Salaries and other personnel expense” in the Consolidated Statements of Income.

On July 1, 1994, the Bank implemented a Supplemental Executive Retirement Plan for executive officers of the Bank whose retirement benefits under the 401(k) plan have been limited under provisions of the Code.

Contributions to this plan totaled $ 397,000 , $ 350,000 , and $ 264,000 , in 2024, 2023, and 2022, respectively.

The Bank has a Supplemental Executive Retirement Plan (“SERP”) for executive officers of the Bank whose retirement benefits under the 401(k) plan have been limited under provisions of the Code.

While contributions to this plan were halted in 2025, the Bank still has liabilities related to the SERP.

Contributions to this plan totaled zero , $ 397,000 , and $ 350,000 , in 2025, 2024, and 2023, respectively.

These expenses are included in “Salaries and other personnel expense” in the Consolidated Statements of Income.

At December 31, 2025 and 2024, the balance of the accrued liability for this plan was included in “Other liabilities” and totaled $ 2.6 million and $ 2.5 million, respectively.

RML has established a non-qualified deferred compensation plan ("DCP"), under which RML has agreed to make payment to certain key executives and loan officers, based on contributions made by RML to the plan.

The Bank redirected employer contributions from the SERP in 2025 to the individual participant accounts under the Northrim non-qualified deferred compensation plan.

Existing balances in the SERP will be paid out accordingly.

Contributions in 2025 for this plan, which formerly would have been made to the SERP plan, were $ 256,000 in 2025 and are also included in “Salaries and other personnel expense” in the Consolidated Statements of Income.

RML has a non-qualified deferred compensation plan (“DCP”), under which RML has agreed to make payment to certain key executives and loan officers, based on contributions made by RML to the plan.

Contributions and earnings made to the participant accounts for the DCP are vested over ten years .

The Company recorded expenses of $ 374,000 , $ 380,000 , and $ 333,000 in 2025, 2024, and 2023, respectively.

RML's recorded obligation under the DCP amounted to $ 2.1 million and $ 1.9 million at December 31, 2024 and 2023, respectively, and was included in "Other liabilities".

In February of 2002, the Bank implemented a non-qualified deferred compensation plan in which certain of the executive officers participate.

RML's recorded obligation under the DCP amounted to $ 939,000 and $ 2.1 million at December 31, 2025 and 2024, respectively, and was included in “Other liabilities”.

The Bank also has a non-qualified deferred compensation plan in which certain former executive officers participate.

The Bank's net liability under this plan is dependent upon market gains and losses on assets held in the plan.

The Bank recognized an increase in its liability of $ 24,000 in 2024, a decrease in its liability of $ 10,000 in 2023, and a decrease in its liability of $ 51,000 in 2022.

The Bank recognized an increase in its liability of $ 59,000 in 2025, a increase in its liability of $ 24,000 in 2024, and a decrease in its liability of $ 10,000 in 2023.

These changes are included in “Salaries and other personnel expense” in the Consolidated Statements of Income.

2 unchanged sentences

The aggregate amount to be paid to employees under the Profit Sharing Plan is determined using Company-wide performance goals that are established by the Compensation Committee of the Board of Directors.

If the performance goals are met for the year, profit sharing for the period is calculated based on a formula that is also

approved by the Compensation Committee each year.

If the performance goals are met for the year, profit sharing for the period is calculated based on a formula that is also approved by the Compensation Committee each year.

The Compensation Committee has complete discretion to designate an employee as ineligible for profit sharing, or to adjust the amount of profit share payments by individual employee or in aggregate.

Profit share expense was $ 6.3 million, $ 5.2 million, and $ 2.5 million for 2025, 2024, and 2023, respectively.

At December 31, 2024 and 2023, the Company had accrued $ 2.0 million and $ 1.6 million, respectively, related to employee's paid time off benefit.

At both December 31, 2025 and 2024, the Company had accrued $ 2.0 million, related to employee's paid time off benefit.

The balance of the accrued liability for this plan was included in “Other liabilities”.

7 unchanged sentences

The Company has established a liability for outstanding incurred but unreported claims.

While management uses what it believes are pertinent factors in estimating the liability, it is subject to change due to claim experience, type of claims, and rising medical costs.

While management

uses what it believes are pertinent factors in estimating the liability, it is subject to change due to claim experience, type of claims, and rising medical costs.

Legal proceedings:

25 unchanged sentences

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party.

Credit risk arises in these transactions from the possibility that a customer may not be able to repay

the Company upon default of performance.

Credit risk arises in these transactions from the possibility that a customer may not be able to repay the Company upon default of performance.

Collateral held for standby letters of credit is based on an individual evaluation of each customer’s creditworthiness.

4 unchanged sentences

Capital Expenditures and Commitments:

At December 31, 2024, the Company has $ 423,000 capital commitments related to new branch construction and renovations.

At December 31, 2025, the Company has $ 1.5 million capital commitments related to new branch construction and renovations.

There were no other material changes outside of the ordinary course of business to any of our material contractual obligations during 2025.

Contingencies:

At December 31, 2022, the Company held a government guarantee related to the OREO property that was sold in December 2022, however, the value of this guarantee was not included in the Company's financial statements in 2022 due to uncertainty as to the total amount that will be received from the guarantee.

The Company received $ 929,000 related to this government guarantee in 2023, which was recorded in other operating expense upon receipt.

The Company received an additional $ 392,000 in January 2024.

No further proceeds are expected.

NOTE 20 - Derivatives

Interest rate swaps related to community banking activities

Derivatives related to community banking activities

The Company enters into commercial loan interest rate swaps with commercial banking customers which are offset with a corresponding swap agreement with a third party financial institution (“counterparty”).

11 unchanged sentences

The Company has designated this interest rate swap as a hedging instrument.

The interest rate swap effectively fixes the Company's interest payments on the $ 10.0 million of junior subordinated debentures held under Trust 2 at 3.72 % through its maturity date.

The floating rate that the dealer paid was equal to the three month LIBOR plus 1.37 % through September 15, 2023.

The floating rate that the dealer pays is now equal to the three month CME SOFR plus tenor spread adjustment 0.26 % plus 1.37 %, which reprices quarterly on the payment date.

The interest rate swap effectively fixes the Company's interest payments on the $ 10.0 million of junior subordinated debentures held under Trust 2 at 3.72 % through its maturity date.The floating rate that the dealer pays is equal to the three month CME SOFR plus tenor spread adjustment 0.26 % plus 1.37 %, which reprices quarterly on the payment date.

This rate was 5.35 % as of December 31, 2025 and 5.99 % as of December 31, 2024.

2 unchanged sentences

The unrealized gain, net of tax on this interest rate swap was $ 1.0 million as of December 31, 2025 and the unrealized gain, net of tax on this interest rate swap was $ 1.3 million as of December 31, 2024.

Interest rate swaps related to home mortgage lending activities

Derivatives swaps related to home mortgage lending activities

The Company also uses derivatives to hedge the risk of changes in the fair values of interest rate lock commitments.

33 unchanged sentences

Interest rate swaps $ 7,999 $ — $ 7,999 $ — $ — $ 7,999

Retail interest rate contracts 49 — 49 — — 49

Liability Derivatives

5 unchanged sentences

Interest rate swaps $ 13,011 $ — $ 13,011 $ — $ — $ 13,011

Retail interest rate contracts 49 — 49 — — 49

Liability Derivatives

Interest rate swaps $ 13,011 $ — $ 13,011 $ — $ 13,011 $ —

Retail interest rate contracts 13 — 13 — — 13

NOTE 21 - Common Stock

8 unchanged sentences

Under the 2020 Stock Incentive Plan and previous plans, certain key employees have been granted the option to purchase set amounts of common stock at the market price on the day the option was granted.

Optionees, at their own discretion, may pay cash to cover the cost of exercise, may cover the cost of exercise through the exchange at the then fair value of already owned shares of the Company’s stock, or they may cover the cost of exercise through net settlement of a portion of

the stock options exercised in satisfaction of the exercise price and applicable tax withholding requirements.

The two latter options are referred to as cashless stock option exercises.

The two latter

options are referred to as cashless stock option exercises.

Options are granted for a 10-year period and vest on a pro-rata basis over the initial three years from the grant date.

17 unchanged sentences

The total intrinsic value of options outstanding and exercisable as of December 31, 2025, 2024, and 2023 was $ 4.6 million, $ 3.5 million, and $ 2.3 million, respectively.

The total intrinsic value of options exercised for the years ended December 31, 2024, 2023, and 2022 was $ 628,000 , $ 355,000 , and $ 307,000 , respectively.

The total intrinsic value of options exercised for the years ended December 31, 2025, 2024, and 2023 was $ 1.1 million, $ 628,000 , and $ 355,000 , respectively.

As noted above, the Company allows stock options to be exercised through cash or cashless transactions.

2 unchanged sentences

The Company withheld $ 822,000 , $ 851,000 , and $ 534,000 to pay for stock option exercises or income taxes that resulted from the exercise of stock options in 2025, 2024, and 2023, respectively.

For the years ended December 31, 2024, 2023 and 2022, the Company recognized $ 33,000 , $ 74,000 , and $ 108,000 , respectively, in stock option compensation expense.

For the years ended December 31, 2025, 2024 and 2023, the Company recognized zero , $ 33,000 , and $ 74,000 , respectively, in stock option compensation expense.

As of December 31, 2025, there was no unrecognized compensation expense related to non-vested options.

11 unchanged sentences

Outstanding at December 31, 2025 261,632 $ 13.31 2.72

The total intrinsic value of restricted stock units vested for the years ended December 31, 2024, 2023, and 2022 was $ 1.4 million, $ 1.1 million, and $ 1.1 million, respectively.

The total intrinsic value of restricted stock units vested for the years ended December 31, 2025, 2024, and 2023 was $ 7,000 , $ 1.4 million, and $ 1.1 million, respectively.

For the years ended December 31, 2025, 2024 and 2023, the Company recognized $ 993,000 , $ 670,000 , and $ 751,000 , respectively, in restricted stock unit compensation expense.

11 unchanged sentences

Outstanding at December 31, 2025 95,395 $ 13.14 1.92

The Company recognized $ 209,000 and $ 111,000 for the years ended December 31, 2024 and 2023 in performance stock unit compensation expense and zero for the year ended December 31, 2022.

The Company recognized $ 741,000 and $ 209,000 for the years ended December 31, 2025 and 2024 in performance stock unit compensation expense and $ 111,000 for the year ended December 31, 2023.

As of December 31, 2025, there was approximately $ 668,000 of total unrecognized compensation expense related to non-vested units, which is expected to be recognized over the weighted-average vesting period of 1.9 years.

7 unchanged sentences

The dividends that the Bank pays to the Company are limited to the extent necessary for the Bank to meet the regulatory requirements of a “well-capitalized” bank.

The capital ratios for the Company exceed those for the Bank primarily because the $ 10 million trust preferred securities offerings that the Company completed in the fourth quarter of 2005 are included in the Company’s capital for regulatory purposes although they are accounted for as a liability in its financial statements.

The trust preferred securities are not included in the Bank's capital ratios.

Some capital ratios for the Company exceed those for the Bank primarily because the $ 10 million trust preferred securities offerings that the Company completed in the fourth quarter of 2005 and the $60 million in Subordinated Notes completed in the fourth quarter of 2025 are included in the Company’s capital for regulatory purposes although they are accounted for as a liability in its financial statements.

The trust preferred securities and Subordinated Notes are not included in the Bank's capital ratios.

Northrim BanCorp, Inc.

27 unchanged sentences

NOTE 24 - Income Taxes

Components of the provision for income taxes are as follows:

Components of the provision for income taxes for the periods indicated are as follows:

(In Thousands) Current Tax Expense (Benefit) Deferred Expense (Benefit) Total Expense

13 unchanged sentences

Federal Statutory Tax Rate of 21% for the years ended December 31, 2025, 2024 and 2023) as follows:

2025 2024 2023

(In Thousands)

Computed “expected” income tax expense $ 9,869 $ 6,638 $ 8,084

State income taxes, net 1,898 897 1,231

Tax-exempt interest on investment securities and loans ( 456 ) ( 459 ) ( 358 )

Amortization of investment in low income housing tax credit partnerships, net 3,105 3,192 3,191

Percent Amount Percent Amount Percent

US Federal statutory rate

$ 17,749 21.0 % $ 9,869 21.0 % $ 6,638 21.0 %

State and local income taxes (net of federal income tax effect) 1

3,864 4.6 % 1,898 4.0 % 897 2.8 %

Low income housing tax credits

( 3,098 ) ( 3.7 ) % ( 3,571 ) ( 7.6 ) % ( 3,627 ) ( 11.5 ) %

Nontaxable or nondeductible items

Tax-exempt interest on investment securities and loans ( 470 ) ( 0.6 ) % ( 456 ) ( 1.0 ) % ( 459 ) ( 1.5 ) %

Amortization of investment in low income housing tax credit partnerships, net 2,390 2.8 % 3,105 6.6 % 3,192 10.1 %

Other ( 524 ) ( 0.6 ) % ( 822 ) ( 1.7 ) % ( 427 ) ( 1.4 ) %

Total $ 19,911 23.6 % $ 10,023 21.3 % $ 6,214 19.7 %

The components of the net deferred tax asset are as follows:

1 The state and local jurisdictions that contribute to the majority (greater than 50%) of the tax effect in this category is Alaska.

The components of the net deferred tax asset for the periods indicated are as follows:

(In Thousands) 2025 2024 2023

Deferred Tax Asset:

Allowance for loan losses $ 6,284 $ 5,347 $ 4,263

Allowance for credit losses $ 6,650 $ 6,284 $ 5,347

Loan fees, net of costs 347 660 649

15 unchanged sentences

Unrealized gain, net of loss on marketable equity securities

( 53 ) ( 6 ) —

Other ( 301 ) ( 763 ) ( 719 )

7 unchanged sentences

The tax years subject to examination by federal taxing authorities and by the State of Alaska are the years ending December 31, 2025, 2024, 2023, and 2022.

The amount of cash income taxes paid by the Company for the periods indicated were as follows:

(In Thousands)

2025 2024 2023

$ 12,400 $ 4,451 $ 1,500

4,875 2,130 475

Other State and Local

$ 17,591 $ 6,720 $ 2,031

NOTE 25 - Fair Value Measurements

8 unchanged sentences

Assumptions used include market discount rates, anticipated prepayment speeds, escrow calculations, delinquency rates, and ancillary fee income net of servicing costs.

The model assumptions are also compared to publicly filed information from several large MSR holders, as available.

Derivative instruments:

The fair value of the interest rate lock commitments are estimated using quoted or published market prices for similar instruments, adjusted for factors such as pull-through rate assumptions based on historical information, where

The pull-through rate assumptions are considered Level 3 valuation inputs and are significant to the interest rate lock commitment valuation;

33 unchanged sentences

Interest rate swaps 9,436 9,436 14,788 14,788

Retail interest rate contracts — — 49 49

Level 3 inputs:

7 unchanged sentences

Level 2 inputs:

Deposits $ 2,680,189 2,683,029 $ 2,485,055 $ 2,482,937

Time deposits $ 402,759 405,317 $ 418,370 $ 421,210

Borrowings 12,805 10,361 23,045 19,991

2 unchanged sentences

Level 3 inputs:

Junior subordinated debentures 10,310 10,897 10,310 12,030

Subordinated debentures 68,924 69,564 10,310 10,897

The following table sets forth the balances as of the periods indicated of assets measured at fair value on a recurring basis:

13 unchanged sentences

Commercial servicing rights 2,342 — — 2,342

Retail interest rate contracts 49 — 49 —

Total other assets $ 40,175 $ — $ 9,436 $ 30,739

14 unchanged sentences

Commercial servicing rights 2,194 — — 2,194

Retail interest rate contracts 49 — 49 —

Total other assets $ 43,935 $ — $ 14,837 $ 29,098

Interest rate swaps $ 13,011 $ — $ 13,011 $ —

Retail interest rate contracts 13 — 13 —

Total other liabilities $ 13,011 $ — $ 13,011 $ —

42 unchanged sentences

Discount rate 12.00 %

Financial Instrument Valuation Technique - Nonrecurring Basis Unobservable Input Weighted Average or Rate Range

December 31, 2025

Loans individually measured for credit losses In-house valuation of collateral Discount rate 10 %

NOTE 26 - Segment Information

14 unchanged sentences

Accounting policies for segments are the same as those described in Note 1 to the Consolidated Financial Statements.

Interest expense is allocated to each segment based on average cash utilized to fund the operations of the segment and the average cost of interest-bearing liabilities for the consolidated entity.

Interest expense included in Part II.

Item 8 of this report is allocated to each segment based on average cash utilized to fund the operations of the segment and the average cost of interest-bearing liabilities for the consolidated entity.

Indirect salary expense for activities such as general management, accounting and finance, human resources, compliance, information technology, risk management, and internal audit are allocated based on the average percentage of employee time spent working in each specific segment.

Financial information for the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:

Financial information for the Company's reportable segments and the reconciliation to the consolidated financial results for the periods indicated is shown in the following tables:

December 31, 2025

2 unchanged sentences

Interest expense 34,427 5,804 2,538 42,769

Net interest income (loss) 102,104 11,228 ( 149 ) 113,183

Net interest income 122,633 12,283 693 135,609

Provision for credit losses 2,338 1,178 394 3,910

21 unchanged sentences

Insurance expense 3,120 85 7 3,212

Compensation expense - SCF acquisition payments — — 2,333 2,333

Other operating expense 7,230 2,788 1,127 11,145

Total other operating expense 82,400 29,773 12,210 124,383

Income (loss) before provision for income taxes 37,703 6,714 2,577 46,994

Income before provision for income taxes 64,477 6,569 13,473 84,519

Provision for income taxes 14,928 1,767 3,216 19,911

Net income (loss) $ 30,344 $ 4,780 $ 1,847 $ 36,971

Net income $ 49,549 $ 4,802 $ 10,257 $ 64,608

Total assets $ 2,724,236 $ 390,242 $ 175,795 $ 3,290,273

33 unchanged sentences

Insurance expense 3,120 85 7 3,212

Compensation expense - SCF acquisition payments — — 2,333 2,333

Intersegment expense

24 unchanged sentences

Interest expense 34,391 5,249 1,096 40,736

Net interest income 95,555 7,298 403 103,256

Net interest income (loss)

102,104 11,228 ( 149 ) 113,183

Provision for credit losses 2,276 892 125 3,293

Net interest income after provision for credit losses

Net interest income (loss) after provision for credit losses

99,828 10,336 ( 274 ) 109,890

10 unchanged sentences

Purchased receivable income — — 7,146 7,146

Other operating income 9,130 — — 9,130

Other operating income (loss)

10,960 — ( 67 ) 10,893

Total other operating income

8 unchanged sentences

Total other operating expense 73,085 27,624 4,228 104,937

Income (loss) before provision for income taxes 31,590 ( 3,436 ) 3,454 31,608

Income before provision for income taxes

37,703 6,714 2,577 46,994

Provision for income taxes 7,359 1,934 730 10,023

Net income (loss) $ 25,415 ($ 2,493 ) $ 2,472 $ 25,394

$ 30,344 $ 4,780 $ 1,847 $ 36,971

Total assets $ 2,547,709 $ 357,630 $ 136,530 $ 3,041,869

13 unchanged sentences

— — 7,146 7,146

Other operating income

Other operating income (loss)

10,960 — ( 67 ) 10,893

141 unchanged sentences

Total Assets $ 396,472 $ 277,718

Junior subordinated debentures $ 10,310 $ 10,310

Subordinated debentures $ 68,924 $ 10,310

Other liabilities 1,004 292

29 unchanged sentences

Gain on sale of securities, net — 112 —

Amortization of debt issuance costs

Equity in undistributed earnings from subsidiaries ( 46,956 ) ( 37,252 ) ( 26,892 )

Gain on sale by PWA

( 14,486 ) — —

Change in fair value marketable equity securities ( 169 ) ( 465 ) ( 120 )

10 unchanged sentences

Proceeds from issuance of common stock 609 801 555

Proceeds from issuance of subordinated debentures 60,000 — —

Payment of debt issuance costs ( 1,400 ) — —

Repurchase of common stock — ( 789 ) ( 9,044 )

3 unchanged sentences

Cash and Cash Equivalents at end of year $ 14,952 $ 4,387 $ 19,055

NOTE 28 - Subsequent Events

As of December 31, 2024, the consideration transferred or transferable to the former owners of SCF and the assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting and were recorded at their estimated fair values as of the October 31, 2024.

In February 2025, in accordance with the terms of the purchase agreement, the Company determined the final value of consideration transferred to the former owners of SCF.

The final value of consideration transferred decreased $ 144,000 to $ 47.7 million from $ 47.9 million, which decreased goodwill to $ 34.9 million from $ 35.0 million.

The Company recorded this adjustment in February 2025, which is within the measurement period for business combinations, in accordance with GAAP.

The Company does not consider the adjustment to the provisional amounts recorded for the acquisition of SCF to be significant to the Company's operations, and it does not have a material impact on the Company's consolidated financial statements.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS OF ACCOUNTING AND FINANCIAL DISCLOSURE

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 8. Financial Statements and Supplementary Data