- Associated Press - Friday, September 19, 2014

JUNEAU, Alaska (AP) - Anchorage-based Northrim Bank will cut staff at former Alaska Pacific Bank branches as it finishes the acquisition but promises more services for customers.

New signs on branches are signaling completion of the purchase announced in October, the Juneau Empire (https://bit.ly/1DnmC1b) reported.

“We’ve been trying to get into Southeast since before we started Northrim,” said Marc Langland, chairman, president and chief executive officer of Northrim BanCorp.

Northrim was founded in the 1980s. It acquired Bank of America’s Alaska operations in 1999 and Alaska First Banking Trust in 2007.

Acquisition of Alaska Pacific Bank by a community bank such as Northrim is the best-case scenario for minimal attrition, Northrim executives said.

They expect 60 positions to be cut to 40 in Juneau locations.

Customers should see expanded services, said Langland and Joe Beedle, president and CEO of Northrim Bank, such as more online banking options, the ability to deposit checks by smartphone and wider options for loans.

Data transfer from Alaska Pacific’s databases was seamless, Beedle said. Northrim has more loan capacity, he said.

The new owners are committed to building a new facility in Ketchikan and remodeling other spaces. Northrim has announced a $25,000 donation to the Sealaska Heritage Institute for the Walter Soboleff Center and generally donates 5 percent of net income.

Northrim plans to continue “economic advocacy,” Beedle said.

“We will come down and address the Legislature . and lobby the governor,” he said.

The company was involved with the “Vote No on 1” campaign opposing repeal of Alaska’s new petroleum production tax system. The bank will work with the Juneau Economic Development Council and other regional organizations to encourage development of affordable housing, he said.

“We’ll advocate for industry that needs help to relieve economic needs,” Beedle said. “We’ll get more involved in Juneau.”


Information from: Juneau (Alaska) Empire, https://www.juneauempire.com

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