M&A Deal Summary

Northrim Bank Acquires Alaska First Bank & Trust NA

On June 27, 2007, Northrim Bank acquired financial services company Alaska First Bank & Trust NA for 6M USD

Acquisition Highlights
  • This is Northrim Bank’s 1st transaction in the Financial Services sector.
  • This is Northrim Bank’s 2nd largest (disclosed) transaction.
  • This is Northrim Bank’s 1st transaction in the United States.
  • This is Northrim Bank’s 1st transaction in Alaska.

M&A Deal Summary
Date 2007-06-27
Target Alaska First Bank & Trust NA
Sector Financial Services
Buyer(s) Northrim Bank
Deal Type Add-on Acquisition
Deal Value 6M USD
Advisor(s) McAdams Wright Ragen, Inc. (Financial)
Graham & Dunn PC (Legal)

Target

Alaska First Bank & Trust NA

Anchorage, Alaska, United States
website
Alaska First Bank & Trust NA is a provider of financial services.

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Buyer(S) 1

Buyer

Northrim Bank

Anchorage, Alaska, United States

website

Category Company
Founded 1990
Sector Financial Services
Employees469
Revenue 129M USD (2022)
DESCRIPTION

Northrim Bank is a commercial bank that provides personal and business banking services through locations in Anchorage, Eagle River, Wasilla, and Fairbanks, Alaska, and an asset based lending division in Washington. Northrim Bank was founded in 1990 and is based in Anchorage, Alaska.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Alaska) 1 of 2
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-02 Residential Mortgage

Anchorage,, Alaska, United States

Residential Mortgage, LLC is an Alaskan-owned mortgage company, currently has nine offices statewide. In 2013, Residential Mortgage, LLC originated approximately $792 million in mortgage loans, giving it 19.7% of the Alaska mortgage origination market in that year.

Buy $30M
Mergr

Product

Company

Legal