Northrim BanCorp, Inc. (NASDAQ: NRIM) (“Northrim” or “the company”) is the bank holding company for main subsidiary, Northrim Bank, headquartered in Anchorage, Alaska. The company is the 3rd largest bank headquartered in Alaska and has 20 branches, predominately in Anchorage, Fairbanks, Juneau, and the Kenai Peninsula.
The company has primarily grown organically since its founding in 1990, though has complemented growth with strategic transactions, including two whole bank acquisitions in 2007 and 2014, and more recently, acquired Sallyport Commercial Finance, LLC (SCF) in 4Q24, a specialty finance company providing factoring, asset based lending, and alternative working capital to small/medium businesses throughout the U.S. Through its mortgage lending and specialty finance businesses, the company lends into the lower 48 states.
The bank’s $2.3 billion loan portfolio is commercially focused with C&I loans (including owner-occupied CRE)…
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