Northrim BanCorp is a bank holding company headquartered in Anchorage, Alaska. Its core business is commercial banking in Alaska through its subsidiary, Northrim Bank, the third largest commercial bank in the state with roughly 18% of Alaska bank deposits. Northrim Bank focuses on commercial and real estate lending to small and medium-sized businesses and professional individuals, operating 20 branches concentrated in Anchorage, the Matanuska-Susitna Valley, Juneau, and Fairbanks. Northrim makes money primarily through net interest income — the spread between what it earns on loans and what it pays on deposits — with a particular emphasis on building low-cost business checking and deposit accounts to fund loans cheaply. Beyond core banking, Northrim originates residential mortgages through its subsidiary Residential Mortgage, most of which it sells to the secondary market, and provides factoring and asset-based lending nationally through its Specialty Finance segment. Because Northrim is almost entirely concentrated in Alaska, its performance is closely tied to the Alaska economy, which is driven by oil production, government and military spending, tourism, and fishing. Northrim views new North Slope oil field developments as a positive long-term economic tailwind for the state.