First Independent Bank founder E.W. Firstenburg passes away at age 97
Regional banking and philanthropy icon E.W. Firstenburg died Saturday, Aug. 21.
His passing was announced in a statement released by First Independent Bank – the financial institution he founded 60 years ago. He was 97 years old.
In addition to growing what was a small bank in Ridgefield into an innovative regional player, Firstenburg, along with his wife, Mary, had a hand in community projects throughout Southwest Washington, many of which bear his family's name.
Through the Firstenburg Family Foundation, their philanthropic efforts include The Firstenburg Community Center, Firstenburg Patient Tower at Southwest Washington Medical Center and the Firstenburg Student Commons at Washington State University Vancouver.
Born in 1913, Firstenburg grew up in Seattle, Washington. After earning an MBA from the University of Washington during the Great Depression, he took a job teaching high school business classes. That exposure fueled his lifelong passion for supporting education.
In 1936, Firstenburg joined Ridgefield State Bank as assistant cashier. With an eye for innovation and a focus on customer service, he helped grow the bank to $1 million in assets by 1944, purchasing shares of bank stock as he was able. In 1950, he purchased the bank outright and over the next several decades nurtured its dramatic growth as First Independent.
He relocated the bank's headquarters to Vancouver, expanded its branch network and was one of the first to introduce the region to services such as drive-up banking, extended branch hours, Certificates of Deposit, ATMs and a shopping mall branch office.
Firstenburg retired as Chairman of the Board in 2005 after 69 years with the bank, but continued to staff a desk and serve customers in a branch office at The Waterford Retirement Center for several years.
Firstenburg was preceded in death by Mary Firstenburg, who died in 2009.
E.W. Firstenburg is survived by three children, 7 grandchildren and 12 great grandchildren, including son Bill Firstenburg, CEO and chairman of the Board of First Independent Bank, son Bruce Firstenburg, chair of First Independent Investment Group, daughter Joyce Chiles, Director Emeritus of the bank, and daughter-in-law Jeanne Firstenburg, recently named bank president.
He leaves behind a financial institution with assets of nearly $900 million.
