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August 19, 2014

Northrim acquires mortgage business

ANCHORAGE (AP) — Northrim BanCorp will expand further into the residential mortgage market with its acquisition of Residential Mortgage LLC.

Northrim currently owns 23.5 percent of the mortgage company, and was an original investor. Now, Northrim Bank's subsidiary Northrim Capital Investment Co. will purchase the remainder of the company in a transaction that is expected to close in the fourth quarter of 2014, the bank announced Aug. 7.


 
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