New family office for philanthropy announced
Today, First Independent Bank Chairman of the Board E.W. Firstenburg announced that he would step out of the position he has held for 69 years. He will remain on the board of directors. He named his oldest son, Bill Firstenburg, as the new chairman of the board for the regional financial institution. Bill Firstenburg will continue to serve as president of First Independent Bank.
Bill Firstenburg also announced the establishment of the Firstenburg Family Office, which will be located adjacent to the bank’s Private Banking group in the downtown Vancouver headquarters. The office has been created to coordinate investments and charitable giving, for which the Firstenburgs have long been known in the community.
In 1936, E.W. Firstenburg joined Ridgefield State Bank as an assistant cashier and that same year he acquired the bank which had $147,000 in assets. Over the years, the institution was the first to introduce drive-up banking to the region in 1955; the first to expand business hours until 5 p.m.; the first to offer Certificates of Deposit (CDs); the first to introduce ATM machines in Clark County and the first to open a branch in a shopping mall in 1985, according to a statement from the company.
Today, First Independent is the largest privately-held bank headquartered in Southwest Washington with assets exceeding $825 million.
