northrim bank

A community Bank Named Northrim Bank is dedicated to offering a full range of financial services. This commercial bank ensures a first-class service to its customers.

Yes, they are professional and love to make consumers happy through financial products for personal and business organizations. This bank is for them, who love to want a bank that can understand their value and make the process of managing money easier than everything.

As a trusted financial institution, it makes everything equal for every type of consumer but they are looking to increase the range of the services. We love to share more details about it.

Picture: Branch of Northrim Bank
Picture: Branch of Northrim Bank

What is Northrim Bank?

Northrim Bank was established in 1990 and set its headquarters in Anchorage. After starting the full range banking serving, this one becomes the 2nd largest bank in the state of Alaska.

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Not only that, this bank is also known as the 435th largest bank in the United States. Because of the better planning, services, and management team, this bank is now handling assets totaling $2 billion and $1 billion deposits.

Such financial capacity will make them one of the top and the largest banks in the USA. They don’t offer full-day customer service or premium access but their wide range of products as well as the rate makes them stronger in the community banking sector.

Look at their savings account, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products, and credit service. It’s easy to understand how good their services are.

Picture: Use your ID to log in
Picture: Use your ID to log in

What Are the Financial and Organizational Strength of Northrim Bank?

Before banking with a community bank, knowing about some key financial and organizational parameters is important. This bank is committed to providing services that can ensure a better financial future for a client.

Their financial parameters and policies will define how good they are in their service. All these parameters and values are given below.

ParticularRemarks
Websitehttp://www.northrim.com
IndustriesBanking,  Communities, Financial Service, Venture Capital
Company Size501 – 1000 employees
HeadquartersAnchorage, AK
TypePublic Company
Founded1990
Operating StatusActive
Company TypeFor-Profit
FDIC InsuredYes
FDIC Certificate# 33216
Capital$201.78
Primary RegulatorFDIC
Return on Assets – YTD1.74%
Return on Equity – YTD20.43%
Annual Interest Income$63.4MM

Assets and Liabilities:

ParticularQ3 2021Q3 2020
Assets$2.59B$2.08B
Loans$1.56B$1.61B
Deposits$2.33B$1.82B
Equity Capital$204.3MM$195.3MM
Loan Loss Allowances$13.8MM$21.8MM
Unbacked Noncurrent Loans$11.5MM$11.5MM
Real Estate Owned$5.9MM$7.0MM

Which Types of Product Does Northrim Bank Offers?

Community Banks always try to offer the best and contemporary products to their consumers. They know, consumers look for a variety of products to get more options for better money management. This bank also comes with the types of products that we want.

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Do you know what are they? We’ve mentioned all the product and service names.

Personal Banking:

Spend:

  • Checking
  • Credit Cards
  • Debit Cards

Save:

  • Savings & Money Market
  • Education Savings Accounts
  • Health Savings Accounts

Borrow:

  • Loans
  • Mortgages

Invest:

  • CDs
  • Investment Portfolios & Annuities
  • IRAs

Manage:

  • Online & Mobile Banking
  • Personal Finance
  • Deposits
  • Transfers

Resources:

  • Financial Calculators
  • Alaskanomics
  • SurThrival

Business Banking:

Spend:

  • Checking
  • Credit Cards
  • Debit Cards

Save:

  • Savings & Money Market

Borrow:

  • Loans
  • Meet Our Loan Officers

Invest:

  • CDs
  • Employee Retirement Plans

Manage:

  • Online & Mobile Banking
  • Deposits & Transfers
  • Business Services

Resources:

  • Financial Calculators
  • Alaskanomics
  • SurThrival

Commercial Banking:

Treasury Management:

  • Cash Management tools
  • Cash Sweeps

Asset-based Lending:

  • Northrim Funding Services

Industry Expertise:

  • Meet Our Loan Officers

Resources:

  • Financial Calculators
  • Alaskanomics
  • SurThrival
Picture: Mobile app
Picture: Mobile app

What About The Rate?

Now come to the interesting point of this bank. For different popular products, this bank imposes different terms and rates.

Without knowing them in detail it is not a wise choice to use a product blindly. That’s why we made this table below and mentioned the terms, rate, and minimum balances for APY of all popular products.

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Accounts0.04% APY$100
Certificates of Deposit (bonus rate)<$5,000: 0.03% APY $5,000-$24,999: 0.33% APY $25,000-$74,999: 0.34% APY $75,000-$149,999: 0.36% APY $150,000: 0.43% APYVaries
Money Market Accounts10K tier: 0.05% APY 25K tier: 0.05% APY$500 $25,000

You can have many options to manage your money but only a few of them will be best that match your expectation and financial goal.

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This bank has savings, checking accounts, and money market accounts, CDs, with different rates. So, you should check them carefully to ensure a higher return on investment.

We found, their rate is fair enough to make a consumer happy. Still, a comparison chart can make all the things clear. Check it out below.

Notable RatesAPYVs. Others
Savings0.06%0.85%
1 Year CD0.65%0.85%
2 Year CD0.55%0.80%
5 Year CD0.50%1.30%
30 Year MortgageN/A2.72%
15 Year MortgageN/A2.365
HELOC6.75%2.79%

What is the Current Location of All Branches of Northrim Bank?

This bank has a few branches. Here are the details of all these branchess including the addresses.

BRANCHADDRESS
Jewel Lake Branch9710 Jewel Lake Road, Anchorage, AK 99502
Old Seward Highway Branch8730 Old Seward Highway, Anchorage, AK 99516
Wasilla Branch850 East USA Circle, Wasilla, AK 99687
Seventh Avenue Branch517 West Seventh Avenue, Anchorage, AK 99510
Fairbanks Financial Center Branch360 Merhar Avenue, Fairbanks, AK 99701
Northrim Bank3111 C Street, Anchorage, AK 99503
West Anchorage Branch2709 Spenard Road, Anchorage, AK 99503
Huffman Branch1501 East Huffman Road, Anchorage, AK 99515
Eagle River Branch12812 Old Glenn Highway, Eagle River, AK 99577
Sitka Financial Center315 Lincoln Street, Sitka, AK 99835
Juneau Downtown Branch301 North Franklin Street, Juneau, AK 99801
Ketchikan Financial Center2491 Tongass Avenue, Ketchikan, AK 99901
Juneau Financial Center2094 Jordan Avenue, Juneau, AK 99801
Lake Otis Community Branch2270 East 37th Ave, Anchorage, AK 99508
Picture: National Average vs. Northrim
Picture: National Average vs. Northrim

Conclusion:

Undoubtedly, Northrim bank is an ideal financial solution for the customer. Their dedication ensures customer satisfaction. Now, it is providing the highest quality of services and value to the business.

Every one of the community wants such a bank that gives a hometown banking experience. From personal to professional, every type of financial solution is available under this roof. They are offering quick and easy-to-use services and products.

Through their online and mobile banking future, anyone can get a real-time update of their account. That’s how money management becomes more flexible for the customer.

A consumer won’t face any issue when banking with it. This is the bank, we always look for daily banking.

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