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Alaska Pacific Bank Merger Information
 

On October 22, 2013, Alaska Pacific Bank and Northrim Bank announced their plan to merge. On April 1, 2014, the transaction was successfully completed and Alaska Pacific Bank officially merged with and into Northrim Bank. However, we will continue to operate under the Alaska Pacific Bank name until we integrate all systems and operations into Northrim Bank, scheduled to occur in early September. For now, customers will experience minimal impact and will continue to use their Alaska Pacific Bank accounts and services as normal. This page is designed to provide resources and answers to questions as we work toward making this a seamless transition for customers.

Please follow the links below for more information and answers to frequently asked questions.

                                     

Important Information About FDIC Insurance

Northrim Bank is an FDIC-insured institution just as Alaska Pacific Bank was an FDIC-insured institution. As a result of the merger, the deposits from Alaska Pacific Bank will be combined with the deposits of Northrim Bank. The combined balances will determine whether a depositor has exceeded the FDIC insurance limit, except that deposits at Alaska Pacific Bank prior to the merger will generally receive separate insurance coverage for six months from the date of the merger. This grace period provides an opportunity to restructure accounts, if necessary, to ensure the accounts do not exceed the insurance threshold. Certificates of Deposit or Time Deposits from Alaska Pacific Bank are generally separately insured until the earliest maturity date after the end of the six month grace period.

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