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
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
Category Company
Founded 1990
Sector Financial Services
Employees472
Revenue 130M USD (2023)
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 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

Product

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