Northrim BanCorp Announces Acquisition of Sallyport Commercial Finance, LLC
Northrim BanCorp Inc (NRIM)
Last northrim bancorp inc earnings: 1/27 04:15 pm
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Source: GlobeNewswire
ANCHORAGE, Alaska, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today announced the acquisition of Sallyport Commercial Finance, LLC (“Sallyport” or “SCF”) in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States and Canada. The transaction is expected to provide earnings accretion of approximately 15% to Northrim’s 2025 operating results. “Having worked with Nick and the Sallyport team for several years, we have been impressed by the quality of the business they have built,” said Mike Huston, President and CEO of Northrim. “We view this as an opportunity to partner with a company that has similar core values of customer service, tailored solutions, creativity and responsiveness without distr
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NRIM
Earnings
- 10/23/24 - Beat
NRIM
Sec Filings
- 11/21/24 - Form 4
- 11/15/24 - Form 4
- 11/15/24 - Form 144
- NRIM's page on the SEC website