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New venture announced.

New Venture Announced

New Venture Announced. Arnold Espe, formerly president and chief executive officer of Key Pacific Bancorp overseeing Alaska acquisitions, and Marc Langland, formerly chief executive officer of Key Bank of Alaska, have filed applications with state and federal regulators and expect to open a new bank in the fourth quarter of 1990. To be called Northrim, the institution likely would be headquartered in midtown Anchorage and is expected to employ 28 in its first year of operation.

Its founders say they are working to raise $8 million to $10 million in capital. Espe and Langland say the economy is growing again and the time is right for a new, service-committed financial institution. "Many bankers talk about service, but there isn't a bank in town devoting the staff or resources necessary to make it happens," says Langland. He points out that few U.S. markets similar in size to Anchorage have such a concentration of accounts in so few banks.

Proposed directors of Northrim are Mark Copeland, managing partner of Copeland, Landye, Bennett and Wolf; Frank Danner, an owner of Dynamic Realty and president of Far North Fisherman; Dale Lindsey, president and chief executive officer of Harbor Enterprises; Richard Lowell, president of Ribellin Lowell and Co.; William McHugh, president chief executive officer of Yukon Pacific Corp.; Daniel Nelson, president of Diversified Capital Corp.; and Joseph Usibelli Sr., chief executive officer of Usibelli Coal Mine.
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Title Annotation:Alaska Business Briefs - Banking
Publication:Alaska Business Monthly
Date:Aug 1, 1990
Previous Article:Key Bank of Alaska.
Next Article:Summer expansion.

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