Bridge Bank, based in the Silicon Valley, is expanding its reach into the Seattle market by opening its first brick-and-mortar office in the city, with an eye on further growing its lending operations in the area, particularly in the technology sector.
The new loan-production office, located at 855 S. King Street, will be headed by Senior Vice President Tom Reimer, who will lead the bank’s effort locally to “build out a small team of banking professionals to serve and grow Bridge Bank’s technology banking portfolio in the Northwest region,” company spokesman Ryan Barringer says
The Seattle office will focus on lending to venture- and private-equity backed tech companies across a variety of sectors, including enterprise software, educational tech and analytics. Bridge Bank’s approach to business focuses on “high-touch relationship banking,” Barringer adds, so the lender expects to prioritize attracting top-tier commercial banking talent to grow market share faster in the Seattle area.
"Although our office is new to the Pacific Northwest, we are not," adds Mike Lederman, senior vice president and western region director of Bridge Bank's technology banking group. "Our technology banking team has had a longstanding presence and solid relationships with clients in this region going back more than a decade. We're excited to have an official presence here and look forward to building deeper networks and relationships in the community.”
Bridge Bank is a division of Western Alliance Bank, which is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. In 2018, the holding company recorded net income of $436 million, with total assets of $23.1 billion and total net loans outstanding of $17.6 billion.