Northrim Bank said late Wednesday that it will tap the public markets to raise the $22 million it needs to buy eight Alaska branches from BankAmerica Corp.

The Anchorage-based bank, which announced plans in December to buy $115 million in loans and $145 million of deposits from Charlotte, N.C.-based BankAmerica, said it also needs the additional funds to maintain capital levels.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.