Diversity, Equity, and Inclusion (DEI)

At Northrim, we value all of our 485 employees. We strive to ensure a respectful, diverse, and inclusive environment and experience for all our employees. We support and cultivate an open and respectful environment where everyone can actively contribute, have equal access to opportunities and resources, be themselves, and realize their potential. This is reflected in our policies, which encourage individual values, strengths, and protections to provide gender diversity and equality in the workplace and are reinforced through our annual anti-harassment and diversity training. We believe that through these efforts, our relations with our employees are highly satisfactory.

Table 1: Employee Diversity Identification by Employee Category
Employee Category Women Men Racial Minority Disability Veteran
Full-Time Equivalent 65% 35% 35% 4% 2%
Executive and Senior Management 39% 61% 10% 6% 6%
Board of Directors 31% 69% 23% 8% 8%

We also emphasize inclusion through our hiring and compensation practices. As an Equal Opportunity and Affirmative Action Employer, we consider a pool of diverse candidates for open positions and internal advancement opportunities and treat all our applicants with the same high-level of respect regardless of their gender, ethnicity, religion, national origin, age, marital status, political affiliation, sexual orientation, gender identity, disability or protected veteran status. We also actively engage with various social service, educational and government organizations that promote diversity, disability and  veteran hiring.

We do not ask potential candidates about their current or previous compensation during the hiring process, and we incorporate equal and fair pay reviews into every employment compensation decision to address issues related to pay discrimination. Our annual Affirmative Action Plan continues to focus our DEI efforts on increasing the number of veterans and persons with disabilities in our workforce. 

Employee Benefits

Northrim provides for a strong work life balance,  including generous paid time off and paid parental leave for all Northrim Bank and Residential Mortgage employees.  Benefit offerings include education reimbursements that match the maximum amount allowed under the IRS limit to encourage our employees’ ongoing education.  For those employees who have additional leave needs, Northrim offers an additional voluntary short-term disability plan. Diversification of some of our benefit options now allows employees more choice in the benefits that best meet  their needs.

An exciting benefit that we added in 2024 was the addition of a new health insurance options, including a zero-premium  option. Other changes that were made in 2024 related to enhancements to the sick leave and PTO policies, as well as increases to the Company’s 401(k) match.

Training

At Northrim, we believe that well-trained and highly motivated employees are better able to understand and fulfill customer needs and preferences, which are key to providing our “Superior Customer First Service”. Our current company-wide employee training program focuses on Northrim’s culture, Superior Customer First Service, general sales skills, and various technical areas related to job function. We also ensure that our employees complete all necessary consumer compliance trainings. Employees are required to read the Employee Handbook, Code of Conduct, as well as our Information Technology policies annually.  We continue to enhance our employee training annually and celebrated the most recent graduating class of our Management Training Academy  in 2024. 

Employee Health and Wellness

We understand the importance of prioritizing our employees’ health. We offer a comprehensive benefits plan for our employees that includes medical, dental, vision and prescription drug insurance, preventive healthcare benefits, and employee assistance programs for mental health, among others. Additionally, we assist our employees with setting up ergonomic offices upon request, such as providing a standing desk, to promote employee health and wellness.

We have developed a robust Wellness Program that includes access to Noom, a platform that helps employees achieve their personal mental and physical health goals. Northrim also sponsors wellness events such as 5K walks/runs, as well as team sporting events to encourage wellness and team building. Additionally, Northrim provides access to The Dome athletic facility and annual State of Alaska Park passes to all employees to encourage them to get outside, be healthy and explore nature. 

Volunteering and Employee Giving

We actively support employees taking part in a variety of community activities, and we provide community volunteer opportunities during work hours. Employees are encouraged to serve in leadership roles with nonprofit organizations and to share their expertise in the community. In 2024, Northrim employees volunteered over 2,900 hours in their local communities. Some of the areas where our employees have supported their community include:

  • Teach Children to Save. Teams of employees help students learn the importance of saving for the future through the American Bankers Association (ABA) Teach Children to Save program.
  • School Business Partnership. Employees work closely with neighborhood schools to encourage students to become engaged in their community  and school.
  • Financial Literacy Classes. Our financial literacy
  • Paint the Town. Employees volunteer to paint the home of an individual or family through the popular annual NeighborWorks’ Paint the Town event.
  • United Way. Since the Bank was founded, Northrim and our employees have contributed over $2 million to support United Way. In 2024, employees participated in the annual United Way Campaign and pledged $162,000 in support of local communities throughout Alaska and in Washington State. This total includes direct donations from employees and Northrim’s  50 percent match for employee gifts to United Way.

Community Giving

As a local, community bank, Northrim takes its commitments to Alaska very seriously and we pride ourselves in taking an active role in building the communities we serve. Improving the economic vitality and quality of life where we do business is in the best interest of our customers, our employees, our company and our industry. We are committed to sharing our time, talents and other resources to meet community needs.

We focus our giving so we can make meaningful contributions, measure the results of our contributions, and work more closely with the organizations we support. Our focus areas are:

  • Community and economic development
  • Programs to strengthen low-income families
  • Health and wellness programs that support healthy communities
  • Higher education through the State of Alaska Education Tax Credit Program

In 2024, Northrim Bank contributed over $1,065,000 to organizations throughout Alaska. Some of these key organizations included the United Way, University of Alaska Foundation, Camp Fire Alaska, Alaska Native Heritage Center, Anchorage Economic Development Corporation and Housing Alaskans, a Private Public Partnership.

Community Reinvestment Act (CRA)

We are committed to serving the needs of our entire community, including small businesses and low- and moderate-income areas. This is reflected in our most recent rating completed by the Federal Deposit Insurance Corporation (FDIC) in May 2023, where we received a Satisfactory CRA rating.

To meet the banking needs of Alaskan communities, we opened a branch in Homer, Alaska in 2024. Now with 20 branches and combined with our wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC, 90 percent of Alaska’s population has an office accessible to their community.

Northrim Bank is proud to offer a new checking account, Easy Banking, to provide a safe, affordable personal banking account to those who lack adequate access to traditional financial services. The goal of this account is to ensure that everyone has access to safe and affordable f inancial products and services. The Bank On National Account Standards identify 25 critical product features for appropriate bank or credit union accounts, making it easier to connect consumers to accounts that meet their needs. Easy Banking has been officially certified by the Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards for safe and affordable transaction accounts. Northrim is the first and currently the only Alaska-based financial institution to receive this certification.

Affordable, Low Income and Workforce Housing

Accessible housing continues to be a critical need throughout Alaska. Northrim works with nonprofit organizations statewide to support affordable, low income and workforce housing initiatives. Over the past 10 years, Northrim Bank has financed affordable housing projects and related entities totaling 600+ units, both for families and senior residents. In addition to financing these construction loans, Northrim has invested over $30 million as a tax credit equity partner providing an additional source of funding needed to make these projects happen. Northrim’s total investment of approximately $135 million represents a significant contribution to affordable housing within the state.

Northrim also provided financial support to HAPPP (Housing Alaskans, a Public Private Partnership), a nonprofit housing trust formed in 2022 to produce, preserve, and protect housing. Its mission is to address Alaska’s housing crisis by using creative funding solutions to bridge the gap to bring housing projects online, incentivizing housing developers and providers with operational and capital funding to help projects cross the f inish line.

In prior years, the Bank’s subsidiary, Residential Mortgage participated in a special affordable lending program in partnership with the FHLB Des Moines that provided  43 borrowers with lowered interest rates. On average, the interest rates were reduced by 2 percent for these borrowers.

Small Business Loan Programs

Small businesses are at the heart of our community and Northrim is committed to serving the needs of Alaska. Access to capital is critical for the recovery and growth of many small businesses, especially during challenging times such as this past year. In 2024, Northrim approved  12 SBA loans totaling over $5 million.

Northrim continued to lead the State Small Business Credit Initiative (SSBCI) in Alaska which empowered small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. The SSBCI and the newly launched Tribal SSBCI Consortium are transformative programs advancing equitable economic growth and resilience across Alaska. The Alaska Small Business Development Center is the administrative lead for the program for the State and deploys the funding to lenders and investment funds. Northrim accounted for 50 loans totaling over $46 million in this program in 2024, including 23 loans for Socially  and Economically Disadvantaged Individuals (SEDI) and  18 loans for Very Small Businesses (VSB).