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Steve lundgren Denali State bank
experience and strengthen our credit union. He is able to lead business groups to the best business decision without sacrificing the goal, quality of outcome, or integrity of the individuals working in the group; hes advocated issues important to his industry and to the community to our elected leaders locally,. That is the most common place for our customers to expand and invest in additional projects. Our board of directors, management, and staff all live, work, and play in Interior Alaska. The banks rationale for expanding into the Pacific Northwest region was primarily customer-driven, according to Executive Vice President and Chief Lending Officer Mike Huston. I invite you to bank with us, you wont be disappointed.
The number one reason is were following our customers, he explains. Residential Mortgage has had some regulatory opportunities to originate loans in other states, Martin says, so it makes sense to originate mortgage loans in these additional areas. From a banking perspective, Martin says, there is tremendous difference between operating in Alaska and in the Pacific Northwest. Steve has also served in leadership positions for many other community and service organizations, including the Alyeska Pipeline Service Companys Community Advisory Board, the Interior Builders Association, Junior Achievement of Fairbanks, and the United Way of the Tanana Valley. We opened our doors in 1986 with the belief that our community and customers want and deserve to work with a bank where all bank decisions impacting their financial security are made right here in Fairbanks. The Bellevue, Washington-based firm provides asset-based lending and factoring (purchasing) of accounts receivable to businesses primarily in Alaska, the western United States, California, and Arizona. Combined, the credit unions will serve 160,000 members with approximately thirty branches in Alaska, Arizona, California, Washington, and Wyoming. And, with our on-line banking and one of the best mobile banking apps available, you can manage your account, transact business, or apply for a loan no matter where you are, 24 hours a day.
Several years ago, Pacific Portfolioof which Northrim owns 24 percentopened an office in Alaska. It has more over.6 billion under management; a third of that is in Alaska, and two thirds is in the Pacific Northwest, says Mike Martin, executive vice president, COO, and general counsel at Northrim Bank. Denali knew it needed to expand beyond Alaskas borders to grow and remain competitive. Applying the same principles that have made our bank successful in Alaska has also allowed First National to build relationships with strong banks in the Pacific Northwest and beyond, he says. With Alaskas current economy, lending volume has been flat. Fairbanks residents and all Alaskans are very mobile and travel outside Alaska, and they still need financial products available to them, he says. At this juncture, the bank has no plans to physically expand into the Pacific Northwest although it does work with banks in several states in the Lower. The proposed partnership will merge two independently-successful, strong, and well-capitalized credit unions to create a significantly larger organization with increased operating efficiencies and an expanded market scope, according to a Denali news release from mid-March.
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Hes a member of the Alaskan Command Civilian Advisory Board, and he currently serves as National Treasurer of the Air Force Association, headquartered in Washington,.C. Steve, lundgren is the President and CEO. Denali State Bank is expanding its online presence to broaden customers access to banking services, particularly for those who have relocated to the Pacific Northwest and elsewhere in the Lower. However, Denali is not looking to open branches in the Pacific Northwestor anywhere else in Alaska, according to President and CEO Steve Lundgren. We do have some issues that need to be resolved, including the budget situation, but we feel there is a lot of opportunity in Alaska, and we remain focused in this area. Traditionally, financial veterinär malmö slussen institutions have expanded by building additional branches, a costly endeavor. First National intends to continue leveraging the strength of the economy in the Pacific Northwest. Steve serves on the board of directors, is a past board chair, and currently chairs the Finance Committee of the Greater Fairbanks Chamber of Commerce. In 2002, Northrim was an original investor in Elliot Cove Capital Management, a Seattle-based capital management firm and insurance agency serving individual investors and financial institutions. Steve, lundgren, President/CEO of, denali, state, bank, behind the scenes and on the racquetball court! Our proposed merger partnership with Nuvision is an important strategic step to continue this legacy and support our service goals.
Over the years, Alaskas financial institutions have taken different approaches to expanding into the Pacific Northwest and tapping into its economy, which is driven by diverse industries. The Pacific Northwestwhich is generally thought to include Washington, Oregon, and Idaho and sometimes Montana, Wyoming, and Californiahas strong historical ties with Alaska.