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Northrim News

August 21, 2013

Chris Knudson, COO for Northrim BanCorp, Inc. Resigns Positions Due to Disability

Joe Schierhorn Elevated to Replace Knudson

Northrim BanCorp, Inc. (NASDAQ: NRIM, the “Company”) today announced that Christopher J. Knudson has resigned his position as Executive Vice President and Chief Operating Officer (COO) of the Company and of Northrim Bank (the “Bank”) due to disabling health issues, effective August 16, 2013.

“Chris has been a vital part of our management team since Northrim was founded, and we are deeply grateful for his service to our company and our community,” said Marc Langland, Northrim’s Chairman, President and Chief Executive Officer. “For over 22 years, Chris has brought to us a profound understanding of banking along with his quick intelligence and deep compassion.”

Joe Schierhorn, the Executive Vice President and Chief Financial Officer for the Company and the Bank will assume the COO role and continue his responsibilities as Chief Financial Officer for the Company and the Bank, effective immediately. “Mr. Schierhorn has assembled a very capable team to help him oversee the operations of the Bank, and we have great confidence in his leadership capabilities,” said Joe Beedle, President and Chief Executive Officer of the Bank.

To assist Mr. Schierhorn in his expanded responsibilities, the following three managers are being promoted to Administrative Senior Vice President status and will report to Mr. Schierhorn:

  • Audrey Amundson; Administrative SVP – Planning and Organizational Development. In addition to Accounting Management and Budgeting, she will assume reporting responsibility for Human Resources, Risk Management, Security, and Investment Underwriting.
  • Lynn Wolfe; Administrative SVP – Operations and Branch Administration. In addition to Loan Processing/Servicing and Item Processing, she will assume reporting for Branch Administration, Electronic Banking and Facilities.
  • Benjamin Craig; Administrative SVP – Chief Technology Officer. In addition to overseeing systems/network infrastructure and information technology security/risk management, he will assume responsibility for business analytics and core applications.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with ten branches in Anchorage, the Matanuska Valley, and Fairbanks serving 70% of Alaska’s population; and an asset based lending division in Washington. 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.

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