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Slide #87. Northrim BanCorp — Alaska Pacific Bancshares, Inc.
Northrim BanCorp (NASDAQ:NRIM)
Alaska Pacific Bancshares, Inc.
Northrim BanCorp, Inc. (Nasdaq:NRIM) today announced the completion of its acquisition of Alaska Pacific Bancshares, Inc. ("Alaska Pacific") and its wholly owned subsidiary, Alaska Pacific Bank, in a stock and cash transaction.
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. Co. also originates one-to-four family residential mortgages throughout Alaska which it sells to the secondary market.
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