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About

Bank History

1990

  • November 14: received final regulatory approval to open Northrim Bank as a publicly traded company
  • December 4: Northrim Bank opened for business in a trailer in the parking lot at 3111 C Street with 21 employees
  • December 31: Assets were $13,225,000
 
Northrim Bank opens for business from a trailer

 
 
Northrim introduces the Jump-Up CD

1991

  • April: moved out of the trailer and into the Midtown Financial Center at 3111 C Street
  • First Bank in Alaska to introduce automated phone banking services (Telebanking) and an affordable PC Banking service for businesses

1992

  • Introduced the Jump-Up CD and Express Deposit Courier Service for business deposits
  • Completed private placement of 408,000 shares

1993

  • Conducted successful secondary public offering of 925,000 shares of common stock
  • Hosted first annual Customer Appreciation BBQ in Anchorage

1994

 
Northrim reaches 100 employees

1995

  • Installed first off-site ATM
  • Launched Home Page on the Internet; first Alaskan bank to accomplish this

1996

 

1997

  • Introduced EZ Tax, which enables businesses to pay taxes by phone or PC
  • Opened Southside Financial Center in Anchorage
  • President and CEO Marc Langland became Chairman of the Board after the passing of Chairman Arnold Espe

1998

  • Invested in start-up of Residential Mortgage, LLC
  • Announced the planned acquisition of eight Alaska branches of Bank of America

Northrim invests in Residential Mortgage

1999

  • Conducted equity offering to raise capital for purchase of Bank of America’s Alaska branches; issued 1.9 million shares of common stock and raised $19.6 million in additional equity capital
  • Completed the acquisition of eight Bank of America Branches in Anchorage, Eagle River, and Wasilla; bank grew from 142 to 235 employees
  • Opened Commercial Lending Office in Wasilla
  • Introduced new interactive website: www.northrim.com
  • Added second ATM in Fairbanks
  • Rolled out Northrim On-Line, Internet home banking service
  • December 31: assets grew to $504 million

 
Northrim rolls out Online Banking

2000

  • Rolled out Business On-Line, Internet Banking Service
  • Introduced Electronic Bill Payer, a service used to pay bills via the Internet
  • Installed five off-site ATMs in Anchorage, Wasilla, Palmer, and Fairbanks
 


 

2001

2002

  • Invested in Elliott Cove Capital Management
  • Upgraded both Eagle River and Wasilla branches to be full services branches
  • Announced creation of Northrim Funding Services



Northrim Bank creates Northrim Funding Services
 


 

2003

  • Created the Customer Service Center to address customer needs
  • Opened the Small Business Center and West Anchorage Branch
  • Introduced Check Imaging Service

2004

 



Northrim Bank invests in Northrim Benefits Group

2005

2006





 Northrim invests in Pacific Portfolio Consulting

2007

  • Acquired Alaska First Bank and Trust
  • Introduced the VISA Business Check Card
  • Reached $1 Billion in assets

2008

 

2009

  • Joseph Beedle named President of Northrim Bank
 
 
Northrim launches www.alaskanomics.com

2010

  • Investment in education through the University of Alaska passed $2.5 million mark
  • Updated the Northrim Bank and Northrim Bancorp logo
  • Launched blog www.alaskanomics.com to inform Alaskans on current policy and economic issues

2011

  • Joseph Beedle named Chief Executive Officer of Northrim Bank
  • Invested in Elliott Cove Insurance Agency
 

2012

  • Reached the million dollar mark in donations to UAA’s Institute of Social and Economic Research (ISER)
  • Introduced “100% 907” tagline

 
 
 

 

 

 

 




Northrim completes acquisition of Alaska Pacific Bank

2013

  • Northrim Benefits Group announced formation of Enroll Alaska to help enroll individuals in health insurance plans
  • Established Chris Knudson Northrim Bank Accounting Endowment at the University of Alaska for the late CFO and charter employee, Chris Knudson
  • Announced acquisition of Alaska Pacific Bank in Southeast Alaska

2014

  • Completed acquisition of the five Alaska Pacific Bank branches
  • Converted debit card customers to Debit MasterCard®
  • Announced purchase of remaining portion of Residential Mortgage, making it a wholly-owned subsidiary

2015

  • Joseph Schierhorn named President of Northrim Bank
  • Celebrated 25th anniversary with 14 branches and over 300 employees

Northrim celebrates 25th Anniversary

2016

  • Marc Langland, co-founder of Northrim Bank, retires after 50 years of banking in Alaska
  • Joseph Beedle named Chairman of Northrim Bank
  • Joseph Schierhorn named Chief Executive Officer of Northrim Bank

 

 

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