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Northrim Bancorp Inc (NRIM) has shared an update.
Northrim BanCorp, Inc. and Northrim Bank have announced leadership changes, with Joseph M. Schierhorn stepping down as President, CEO, and COO, but remaining as Chairman of the Board. Michael G. Huston, a seasoned banking executive with extensive experience, will take over as President, CEO, and COO starting April 6, 2024. These changes come along with adjustments in executive compensation, including an increased salary and benefits for Huston, while Schierhorn’s salary will be reduced, and he will no longer receive profit share, equity compensation, or retirement plan contributions.
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