The chief operating officer of Northrim BanCorp (NRIM) in Anchorage, Alaska, has resigned because of health issues.
Christopher Knudson stepped down from his position Aug. 16 because of "disabling health issues," the $1.2 billion-asset company said in a press release Wednesday. Joe Schierhorn, the chief financial officer, has assumed the role of COO in addition to his current responsibilities.
"Chris has been a vital part of our management team since Northrim was founded, and we are deeply grateful for his service to our company and our community," Chairman and Chief Executive Marc Langland said in the release. "For over 22 years, Chris has brought to us a profound understanding of banking along with his quick intelligence and deep compassion."
Northrim also announced that it has promoted three managers to senior administrative vice president status to assist Schierhorn in his expanded duties.
"Mr. Schierhorn has assembled a very capable team to help him oversee the operations of the bank, and we have great confidence in his leadership capabilities," said Joe Beedle, president and chief executive of Northrim's banking unit.