Northrim Bank celebrates 15 years in business: homegrown financial institution expands while offering new products and services.

• Author: Barbour, Tracy
• Position: Cover Story

For a relatively young institution, Northrim Bank has made impressive strides. It evolved from humble beginnings that started with a trailer and less than $13 million in assets. And this month, the bank celebrates its 15th anniversary with a string of accomplishments, including: $836 million in assets (as of June 900,5); 517th ranking among all U.S. commercial banks; 20 percent of the commercial bank deposit market share in Anchorage; and locations in Anchorage, Fairbanks, Wasilla and Washington state.

"It feels good," says Marc Langland, president, chairman and CEO of Northrim BanCorp Inc. "The good part of it is not what I, as an individual, have accomplished, but our employees and the Alaska economy. It's a tribute to Alaska and its economy and the people who made it all possible."

One of those instrumental people was Arnold Espe, who died Nov. 9, 1997, after helping start Northrim Bank. "It was a real tragedy when we lost him," says Langland, who's been in the banking business for 40 years. "He would have been very proud of what we started here and where we are today."

PUSHING FOR AGGRESSIVE GROWTH

Northrim Bank opened for business Dec. 4, 1990, in a trailer sitting in the parking lot at 3111 C Street with 21 employees. Vic Mollozzi, a charter employee and currently senior vice president and senior credit officer, has fond memories of the early days: "It was like joining a new family--where everyone was pulling together," Mollozzi stated in material printed by the bank. "It was great!"

Incidentally, the name "Northrim" is closely tied to the state of Alaska. "North" represents Alaska, and "Rim" represents its strategic location on the edge of the Pacific Rim and all the opportunities it brings.

Over the years, Northrim Bank has done a remarkable job capitalizing on its opportunities, establishing itself as an industry innovator. In 1991, it reportedly became the first bank in Alaska to introduce automated phone banking services (Telebanking) and affordable PC Banking service for businesses. The next year, the bank introduced the creative Jump-Up CD.

Since then, the bank has aggressively continued to develop a variety of new offerings, including an accounts receivable factoring product called Business-Manager, FlexCache Gift Card and a business Web site at www.northrim. biz. "We'll be aggressive in those areas where we think it will add value to our customers.... But we're not going to stray too far beyond core financial services,"...