On June 26, 2017, Northrim BanCorp, Inc. announced that Joseph M. Schierhorn, age 59, was appointed to the position of President and Chief Executive Officer of the Company, effective June 26, 2017. Mr. Schierhorn will also continue to serve as Chief Operating Officer of the Company and as President and Chief Executive Officer of Northrim Bank. In 2015, Mr. Schierhorn was appointed President of the Bank and was appointed Chief Executive Officer of the Bank in January 2016.

In connection with Mr. Schierhorn's appointment and effective June 26, 2017, Joseph M. Beedle will no longer serve as the President and Chief Executive Officer of the Company. Mr. Beedle will continue to serve as the Chairman of the Company and the Bank.