It was the early 1980s, and Alaska was thriving. Oil flowed freely through the Trans-Alaska Pipeline. Businesses were booming. Houses were popping up everywhere. Then, in 1987, the stock market crashed and oil prices plummeted to single digits per barrel – devastating the Alaska economy. During this time, 13 financial institutions failed across Alaska, displacing many customers – and opening the door for Northrim.Northrim’s founders knew that Alaska needed a different type of bank – a strong, independent, local bank with community and customer service at its heart. Through pure dedication to purpose they worked to raise the $8 million in capital needed for the start-up, and Northrim Bank opened on December 4, 1990 – born out of the ashes of recession.
|Bank Name||Northrim BanCorp Inc|
|Chairman||Mr. Joseph M. Schierhorn|
|CEO||Mr. Joseph M. Schierhorn|