Northrim BanCorp Acquires Sallyport Commercial Finance for $53.9 Million in Cash-March 2024-www.financetom.com

Northrim BanCorp Acquires Sallyport Commercial Finance for $53.9 Million in Cash

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Northrim BanCorp Acquires Sallyport Commercial Finance for $53.9 Million in Cash

Nov 4, 2024 12:07 PM

09:37 AM EDT, 11/01/2024 (MT Newswires) -- Northrim BanCorp ( NRIM ) said Friday that it has completed its all-cash acquisition of Sallyport Commercial Finance, paying $53.9 million for the privately held factoring, asset based lending and alternative capital firm.

Northrim said it expects the deal to increase its 2025 operating earnings by 15% over its prior projections.

Price: 65.27, Change: -1.07, Percent Change: -1.61

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