Add-on Acquisition • Financial Services

Northrim Bank Acquires Residential Mortgage

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

Acquisition Context

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

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M&A Deal Summary
Date	December 2, 2014
Target	Residential Mortgage
Sector	Financial Services
Buyer(s)	Northrim Bank
Deal Type	Add-on Acquisition
Deal Value	30M USD

Target Company

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.

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Buyer Overview 1

Buyer

Northrim Bank

Anchorage, Alaska, United States

Category	Company
Founded	1990
Sector	Financial Services
Employees	503
Revenue	155M USD (2024)

DESCRIPTION

Northrim Bank is a commercial bank that provides personal and business banking services. Northrim Bank was founded in 1990 and is based in Anchorage, Alaska.

Deal Context for Buyer	#
Overall	2 of 3
Sector: Financial Services	2 of 3
Type: Add-on Acquisition	2 of 3
State: Alaska	2 of 2
Country: United States	2 of 3
Year: 2014	1 of 1
Size (of disclosed)	2 of 3

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

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	-

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

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