Subsequent Events (Notes)

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

Subsequent Event

On August 7, 2014 the Company announced the signing of a definitive agreement for Northrim Bank to acquire an additional 76.5% of RML in a cash transaction for a purchase price of approximately $29.8 million. As a result of this transaction, Northrim Bank will own 100% of RML through its wholly-owned subsidiary, Northrim Capital Investment Company. The terms of the transaction call for Northrim Bank to pay approximately $29.8 million in cash with $22.4 million paid at closing and approximately $7.4 million paid over a five year period, depending upon the profitability of RML. The initial cash payment for 76.5% of RML is 126% of the book value for that portion of RML at June 30, 2014.