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Frequently Asked Questions Regarding Merger

About the Merger

Why have Alaska Pacific Bank and Northrim Bank merged? 
What should I know about Northrim Bank?
Will Alaska Pacific Bank change its name to Northrim Bank?
How will the bank merger impact me as a customer of Alaska Pacific Bank?
How are Alaska Pacific Bank and Northrim Bank alike?
What will happen to the Alaska Pacific Bank employees?
After the merger, will everything be centralized at Northrim Bank’s headquarters in Anchorage?
Is Northrim Bank active in the community?
Will Northrim Bank continue to support local Alaska Pacific Bank community organizations?
Where can I learn more about Northrim Bank’s products and services?
What about my stock in Alaska Pacific Bancshares?
How can I contact the bank if I have any questions?

General information, locations, ATMs and hours

Will my account number change?
What will happen to branches located in Southeast?
Will the merger affect the branch hours of the branch I currently use?
Will ATM locations change?
What Northrim ATMs are available?
What about other surcharge free ATMs?

Deposit account information

Will my bank statement look different than what I have now?
When will I receive my final Alaska Pacific Bank statement?
When will I receive my first Northrim Bank account statement?
How can I obtain copies of my deposit statements after September 5, 2014?
What if I have deposits at both banks? Should I move some for FDIC purposes? How will that work?
Will I still be able to use my Alaska Pacific Bank checks or will I receive new checks?
Will I automatically receive new deposit slips?
Will my account fees change?
Will overdraft protection for my personal checking account continue?

Debit cards, credit cards, online banking and electronic services

Will I be able to continue using my Alaska Pacific Bank Visa ® debit card and ATM card?
For my debit card, will using MasterCard be different than Visa?
Can I change the image on my new Northrim Bank debit card?
Can I continue to use my Alaska Pacific Bank credit card?
How do I access my telephone banking?
Will my log-in information change for telephone banking?
Will my online banking access change?
Will there be any changes to my Online Bill Pay?
What about online banking for my business account?
How do I access my business telebanking?
Will my direct deposit be affected?
What about automatic deduction of payments from my Alaska Pacific Bank deposit account?
I have automatic funds transfer between my deposit accounts. What action must I take?
Will my Remote Deposit Capture access for my business change?

Loan account information

My mortgage is with Alaska Pacific Bank now. Will it get sold?
Will the merger affect my existing Alaska Pacific Bank loan?
Will my loan account number change?
Will my loan statement change?
Will I be able to continue to use my loan coupons when I submit my loan payment?
Where do I mail my loan payments made on or after September 8, 2014?
Will my loan officer change?
Can I still view my loan and make a loan payment online?
My loan payment is automatically deducted from my deposit account. Will that service continue?

Other

What about my safe deposit box at Alaska Pacific Bank?
What is Northrim Bank’s policy on privacy?
How will my Alaska Permanent Fund Dividend (PFD) direct deposit be affected by the merger?

 

Click here to download a full copy of the Welcome Guide.

 

About the Merger

Why have Alaska Pacific Bank and Northrim Bank merged?

On October 22, 2013, it was jointly announced that Northrim BanCorp, Inc. and Alaska Pacific Bancshares, Inc. signed a definitive agreement to merge. On April 1, 2014, Alaska Pacific Bank and Northrim Bank merged to create a stronger community bank for you. In addition, the merger of both banks provides added convenience, enhanced products and services, and higher lending limits to Southeast customers.

What should I know about Northrim Bank?

Northrim BanCorp, Inc.is the parent company of Northrim Bank, an Alaska-based community bank with ten branches in Anchorage, Eagle River, the Mat-Su Valley, and Fairbanks; and an asset based lending division in Washington state. With the completion of the merger, Northrim’s branch network now includes additional branches in Juneau, Sitka and Ketchikan. The bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Affiliated companies include Elliott Cove Insurance Agency LLC; Elliott Cove Capital Management LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.As of March 31, 2014, Northrim has $1.2 billion in assets, and that financial strength will ensure your deposits are secure while giving you access to higher lending limits for loans.

Will Alaska Pacific Bank change its name to Northrim Bank?

Yes, after the full integration of operations has occurred. This is scheduled to occur in September. You may start to see the Northrim brand before September as we begin to migrate Alaska Pacific Bank to Northrim Bank.

How will the bank merger impact me as a customer of Alaska Pacific Bank?

We are working toward a seamless transition. Until full conversion of all systems, you will see minimal changes to your day-to-day banking. However, when applying for a new loan, credit card, or merchant services you will be presented with Northrim Bank’s products. You can look for updates from us directly, or on our websites, www.alaskapacificbank.com and www.northrim.com.

How are Alaska Pacific Bank and Northrim Bank alike?

This was an excellent opportunity to combine two well-respected Alaska community banks that share a deep commitment to our customers and local communities. We both maintain similar core values of integrity, relationship banking, and value-added service. This merger will allow us to serve you with more resources and proven stability, while preserving the spirit of community banking in Southeast and throughout Alaska.

What will happen to the Alaska Pacific Bank employees?

Northrim will retain as many Alaska Pacific Bank employees as possible. Branch and lending personnel will be retained, as well as others from various departments. Employees that will not be staying with the bank after the transition are being assisted in finding other employment. Alaska Pacific Bank employees are helping to create a smooth transition during the merger and Northrim Bank is proud to welcome the employees into the Northrim family.

After the merger, will everything be centralized at Northrim Bank’s headquarters in Anchorage?

Some operations have been centralized, but Northrim will maintain local decision making and continue a strong regional presence.

Is Northrim Bank active in the community?

Yes. As a community bank, Northrim is committed to the communities we serve and Alaska as a whole. Our people are active, engaged and focused on making our community a better place to live. You will find us volunteering at local schools, speaking at events, and serving at various leadership levels of local and state organizations.

Will Northrim Bank continue to support local Alaska Pacific Bank community organizations?

Yes. Northrim will continue to support local community organizations in Southeast Alaska.

Where can I learn more about Northrim Bank’s products and services?

You can learn more at www.northrim.com.You can also call Northrim toll-free at 800-478-BANK (2265).

What about my stock in Alaska Pacific Bancshares?

Northrim BanCorp, Inc. has purchased all of the outstanding stock of Alaska Pacific Bancshares, Inc. A joint press release that describes the transaction can be found under News Releases on our Investor Relations webpage.

How can I contact the bank if I have any questions?

Southeast Regional Office

Juneau Financial Center
2094 Jordan Avenue
Juneau, Alaska 99801
(907) 789-4844

www.alaskapacificbank.com
Member FDIC • Equal Housing Lender

Northrim Bank Headquarters

Midtown Financial Center
3111 C Street
Anchorage, Alaska 99503
(907) 562-0062 • 1-800-478-BANK (2265)

www.northrim.com
Member FDIC • Equal Housing Lender

General information, locations, ATMs and hours

Will my account number change?

No. Account numbers will remain the same.

What will happen to branches located in Southeast?

All branch locations in Juneau and Sitka will remain open. In Ketchikan, Northrim will combine operations into one full-service financial center when our Mission Street Branch closes in late October. All Ketchikan customers will be notified in advance of the closure date.

Will the merger affect the branch hours of the branch I currently use?

Branch hours will remain the same. You will be notified in advance of any changes to hours at the branch you use.

Will ATM locations change?

No. The Alaska Pacific Bank ATMs will be branded as Northrim Bank. If we make any changes to ATM locations, we will notify customers on our website.

What Northrim ATMs are available?

Click here for all Northrim ATM locations.

What about other surcharge free ATMs?

Northrim is part of the MoneyPass® ATM network, with thousands of locations nationwide. Simply look for the MoneyPass logo and avoid paying fees by using your Northrim Bank ATM or debit card. To find a MoneyPass ATM location near you, visit our Locations page or www.moneypass.com.

After conversion, Northrim checking customers can have up to $10 in ATM charges reimbursed per month. Come in or call us within 60 days of your ATM cash transactions to receive refunds of up to $10 per month in domestic ATM fees, including those assessed by other ATM providers, and out of network ATM fees charged to your account. Refunds only apply to checking accounts.

Southeast customers can use their Alaska Pacific Bank debit cards at Northrim ATMs free of charge.

Deposit account information

Will my bank statement look different than what I have now?

Yes. After we complete the systems integration in September, you will begin to receive Northrim Bank formatted statements.

When will I receive my final Alaska Pacific Bank statement?

All customers will receive a paper copy of their statement, dated September 5, 2014.This will be mailed the week of September 8, 2014.

When will I receive my first Northrim Bank account statement?

Your statement will be mailed about the same time of the month you receive your current Alaska Pacific Bank statement.

How can I obtain copies of my deposit statements after September 5, 2014?

If enrolled in online statements, your 2014 statements will be available for you online. To request a paper statement, visit one of our branches or call our Customer Service Center .

What if I have deposits at both banks? Should I move some for FDIC purposes? How will that work?

Both Northrim Bank and Alaska Pacific Bank are FDIC insured institutions. As a result of the merger, on April 1, 2014, the deposits from Alaska Pacific Bank were combined with the deposits at 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 from Alaska Pacific Bank are generally separately insured until the earliest maturity date after the end of the six month grace period.

Will I still be able to use my Alaska Pacific Bank checks or will I receive new checks?

You may continue to use your existing Alaska Pacific Bank checks until you are ready to reorder. When you reorder after September 5, 2014, use Northrim Bank’s routing number, 125200934, for your new checks. You can reorder at any Northrim Bank branch or by calling our Customer Service Center .

Will I automatically receive new deposit slips?

No, but you may continue to use your existing Alaska Pacific Bank deposit slips until you are ready to reorder.

Will my account fees change?

Fees for deposit accounts may change. Follow the links below to view the current Northrim Bank Fee Schedules.

Personal Fee Schedule
Business Fee Schedule

Will overdraft protection for my personal checking account continue?

Yes, your overdraft protection will continue as normal.

Debit cards, credit cards, online banking and electronic services

Will I be able to continue using my Alaska Pacific Bank Visa ® debit card and ATM card?

Yes, you can continue to use your Alaska Pacific Bank debit card until January 31, 2015.You will receive your Northrim Bank Debit MasterCard® in the mail by the week of September 22, 2014.You should activate and begin using your Northrim Bank Debit MasterCard as soon as you receive it. For your convenience, your PIN will remain the same. Your Alaska Pacific Bank debit card will be deactivated as of January 31, 2015.If you have automatic payments set up with your debit card, please remember to notify the merchants of your new card number and expiration date.

For my debit card, will using MasterCard be different than Visa?

You will still be able to use your debit card at merchants worldwide, online and at any ATM. The card will continue to be connected to your checking account. View our Debit Card page for additional information on the benefits of Debit MasterCard.

Can I change the image on my new Northrim Bank debit card?

Yes. For personal debit cards, we have three additional options to choose from. Also, Northrim has Instant Issue for debit cards, giving you the opportunity to get a card on the spot at any branch. As a special offer, we will waive the $10 card replacement fee if you would like to choose a different card design before January 31, 2015.

Can I continue to use my Alaska Pacific Bank credit card?

Yes, you can continue to use your Alaska Pacific Bank credit card until you are reissued a new card from the card issuer, TIB, The Independent BankersBank.

How do I access my telephone banking?

You can call 800-478-3311 or 907-790-2265.

Will my log-in information change for telephone banking?

Yes, after selecting option ‘1’ you will enter your account number and use the last four digits of your Social Security number for your personal identification to access your account information. To change your personal identification number, choose option ‘7’.

Will my online banking access change?

We will provide you with instructions and your Northrim Bank online banking user ID and password, along with specific details for Online Banking, Bill Pay, and the Mobile App in a separate communication by mid-August. You can also visit our Online Banking webpage for the latest information about online banking at Northrim, and to watch demonstrations.

Will there be any changes to my Online Bill Pay?

No. Your billers, payments, and recurring payments will be retained.

What about online banking for my business account?

Northrim’s Electronic Banking staff will contact business customers individually in August to transition this service.

How do I access my business telebanking?

Please contact our Customer Service Center if you use business telebanking or are interested in learning more about this service.

Will my direct deposit be affected?

No. Any direct deposits you currently have through Alaska Pacific Bank will be forwarded directly to your new Northrim Bank account for deposit. Remember, your account number will not change.

What about automatic deduction of payments from my Alaska Pacific Bank deposit account?

All previously authorized automatic payments will continue as normal. Please use Northrim Bank’s routing number (125200934) to set up future automatic payments or transfers after September 8, 2014.

I have automatic funds transfer between my deposit accounts. What action must I take?

No action is necessary; your automatic transfer between deposit accounts will continue as normal. If you have a scheduled or reoccurring transfer set up through your online banking, these transactions will be addressed in a separate communication that will be mailed in mid-August.

Will my Remote Deposit Capture access for my business change?

Yes. Northrim Bank’s Electronic Business Services staff will contact business customers individually in August to transition this service

Loan account information

My mortgage is with Alaska Pacific Bank now. Will it get sold?

No. Northrim Bank will retain your mortgage loans and will continue to service them.

Will the merger affect my existing Alaska Pacific Bank loan?

No changes will be made to the existing payments, loan rates, or maturity.

Will my loan account number change?

No. Your loan account number will remain the same.

Will my loan statement change?

Every loan will convert to a Northrim Bank product and you will receive monthly loan billing statements for each loan.

Will I be able to continue to use my loan coupons when I submit my loan payment?

You will be able to use your coupons through September 5, 2014 and then you will begin to receive a billing statement from Northrim Bank that contains your current payment amount due and the application of your previous payment. It will no longer be necessary to use your coupons.

Where do I mail my loan payments made on or after September 8, 2014?

Payments can be made at any branch location or mailed to:

Northrim Bank
Loan Servicing Department
PO Box 241489
Anchorage, AK 99524-1489

Will my loan officer change?

No, you will continue to work with your current officer.

Can I still view my loan and make a loan payment online?

Yes. Some loans are eligible for this service. Please contact our Customer Service Center with questions.

My loan payment is automatically deducted from my deposit account. Will that service continue?

Yes, automatic payments will continue as usual, on the same schedule.

Other

What about my safe deposit box at Alaska Pacific Bank?

Safe deposit boxes will continue to be available during branch business hours.

What is Northrim Bank’s policy on privacy?

Northrim maintains physical, electronic, and procedural safeguards to ensure your non-public information remains secure. If you decide to close your account(s), we will adhere to the privacy policies and practices described in our privacy policy, which is included at the back of the welcome guide.

How will my Alaska Permanent Fund Dividend (PFD) direct deposit be affected by the merger?

Alaska Pacific Bank customers who have their PFD direct deposited into their Alaska Pacific Bank account do not have to make any changes for the 2014 PFD. The direct deposit will be made to the chosen account, even after it is converted to Northrim Bank.

Member FDIC Equal Housing Lender

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