M&A Deal Summary

Northrim Bank Acquires Residential Mortgage

On December 2, 2014, Northrim Bank acquired financial services company Residential Mortgage for 30M USD

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

M&A Deal Summary
Date 2014-12-02
Target Residential Mortgage
Sector Financial Services
Buyer(s) Northrim Bank
Deal Type Add-on Acquisition
Deal Value 30M USD

Target

Residential Mortgage

Anchorage,, Alaska, United States
website
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.

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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 2 of 2
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Alaska) 2 of 2
Country (United States) 2 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-27 Alaska First Bank & Trust NA

Anchorage, Alaska, United States

Alaska First Bank & Trust NA is a provider of financial services.

Buy $6M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 Northrim Benefits Group

Anchorage, Arkansas, United States

Northrim Benefits Group LLC is a provider of insurance products and services. Northrim Benefits Group is based in Anchorage, Arkansas.

Sell -
Mergr

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