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Financial M&A image Financial M&A » By The Online Investor Staff, updated Thu., May. 9, 7:53 AM Recent mergers and acquisitions in the Financial M&A category.

Slide #47. Northrim BanCorp Alaska Pacific Bancshares, Inc.

Acquirer: Northrim BanCorp (NASDAQ:NRIM)
Acquiree: Alaska Pacific Bancshares, Inc.
Details: "On the first day of this month, we completed the acquisition of Alaska Pacific Bancshares, Inc. ("Alaska Pacific") in a stock and cash transaction valued at $14.61 million, expanding our franchise into Juneau, Ketchikan and Sitka and bringing a strong contingent of Alaskan bankers to our team," said Marc Langland, Chairman, President and CEO of Northrim Bancorp. We now have 15 branch locations that serve 75% of Alaska's population. We are delighted to welcome the customers and employees of Alaska Pacific to Northrim and look forward to a long and prosperous relationship."

Northrim BanCorp is a bank holding company. Co.'s direct wholly-owned subsidiaries include: Northrim Bank, which operates a factoring business through its subsidiary, Northrim Funding Services, and also provides various commercial and consumer loan and deposit products, investment products, and electronic banking services over the Internet; Northrim Investment Services Company, which owns Pacific Wealth Advisors, LLC, an investment advisory, trust, and wealth management business; and Northrim Statutory Trust 2, which facilitates a trust preferred securities offering by Co. Also, Co. originates one-to-four family residential mortgages throughout Alaska which it sells to the secondary market.

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Company Name:  Northrim BanCorp Inc
Stock buyback:  NRIM buyback
Website:  www.northrim.com
Sector:  Banking & Savings
Number of ETFs Holding NRIM:  19
Total Market Value Held by ETFs:  $26.09M
Total Market Capitalization:  $277.00M
% of Market Cap. Held by ETFs:  9.42%
 

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May 9, 2024    7:53 AM Eastern
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Strong Buy (4.00 out of 4)
84th percentile
(ranked higher than approx. 84% of all stocks covered)

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