Along Washington’s 3,200 miles of shoreline, roughly 70,000 residents are employed in maritime, making it an important economic driver for the region.

Along Washington’s 3,200 miles of shoreline, roughly 70,000 residents are employed in maritime, making it an important economic driver for the region.

Meet the ‘Fish Bankers’

The maritime industry is woven deep into the history and culture of the Pacific Northwest, dating back hundreds of years. For modern maritime businesses, it’s important to have commercial bankers who understand the industry and can help them continue to grow. Arne Arnesen, Director of Commercial Banking at First Fed, and his team have specialized for years in the maritime industry in order to better serve the needs of those businesses.

A third generation Norwegian in Ballard, Arnesen grew up near Fisherman’s Terminal, the heart of the bustling maritime hub for the West Coast fishing industry. The North Pacific fleet was pioneered by Norwegian immigrants like Arnesen’s grandfather, and Nordic culture is still prominent and celebrated in Ballard today. Maritime finance has been a way for Arnesen to connect his banking expertise with his heritage.

“As a commercial banker I could see that the financial needs of the maritime industry were being underserved,” recalled Arnesen. “Local fisheries need lenders who understand the intricacies of their business. I wanted to cultivate the bridge between banking and maritime so they could get financial solutions that meet their needs.”

Arne Arnesen, Director of Commercial Banking at First Fed.

Arne Arnesen, Director of Commercial Banking at First Fed.

Along Washington’s 3,200 miles of shoreline, roughly 70,000 residents are employed in maritime, making it an important economic driver for the region. While the maritime sector covers a wide range of activities and commerce, some of the key areas include commercial fishing and seafood production, ship and boat building, maritime logistics and shipping, repair and maintenance, and passenger transportation.

“The maritime industry is comprised of a diverse range of business types with unique financial needs,” noted Arnesen. “For example, fisheries operate according to prime harvest season, so structuring loan payments so they coincide with a big catch can relieve some of the pressure around financing.”

Working alongside Arnesen are Jake Dixon and Scott Montgomery, Commercial Relationship Managers who each bring their own rich backgrounds in maritime to the First Fed Commerical Lending Team.

Jake Dixon, Commercial Relationship Manager at First Fed.

Jake Dixon, Commercial Relationship Manager at First Fed.

Dixon also grew up in Seattle, watching his father navigate a career in boat building and shipyard management. Initially, Dixon focused his studies and career in finance, but eventually bought a Seattle business that sold work uniforms to fishing and seafood companies. To grow his business, Dixon went through the process of obtaining a commercial loan from the other side of the table. When he shifted his career back to banking, his insider experience made him a natural fit for working with maritime businesses as a commercial lender.

“I was excited about First Fed’s commitment to growth, particularly in maritime lending,” said Dixon. “Our First Fed team also has a strong community focus which was really appealing to me.”

Montgomery moved to the Pacific Northwest in 2009, drawn to the culture and natural beauty of the area. As he continued his banking career in Seattle, he soon made connections in the maritime industry that shaped his specialty in the area.

Scott Montgomery, Commercial Relationship Manager at First Fed.

Scott Montgomery, Commercial Relationship Manager at First Fed.

“It’s wonderful that First Fed understands the benefit of having lenders who specialize in commercial maritime lending,” noted Montgomery. “Our team is committed to finding the best financial solutions for maritime businesses to support this vital industry.”

The Commercial Lending Team at First Fed can help maritime businesses who need a loan to help expand their operations as well as those looking to buy, construct, or refinance commercial vessels. They also offer lending solutions for fishing rights, maritime equipment providers, and shipyards.

“Our team is local with over 50 years of combined experience working in the maritime industry,” added Arnesen. “That experience helps us ease the lending process for maritime businesses, so they can get back to doing what they do best.”

To learn more about the maritime loans from First Fed or connect with a commercial lender, visit:

First Fed is a member FDIC and equal housing lender.

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

Sound Publishing, Inc. does not accept liability for any loss or damages caused by the use of any products, nor do we endorse any products posted in our Marketplace.

More in Local Marketplace

Woman sitting and holding blank screen mock up mobile phone with coffee cup at cafe.
Letter from First Fed CEO on Text Fraud

Dear First Fed customers: You may be aware that First Fed and… Continue reading

From left, Brittney Frantece, Kari Karsten and Roya Amirsoleymani, along with Catalina Cantu (Xicana), not pictured, are Centrum’s 2023 Curator & Arts Worker Residency. Photos courtesy Centrum
Centrum Welcomes Curatorial Arts Worker Residents Sept. 11 to 25

It’s with great excitement that Centrum announces the 2023 Curator & Arts… Continue reading

This financial literacy checklist can help you build a solid understanding of personal finance and take control of your financial future. Photo courtesy First Fed
Financial Literacy Checklist

Financial literacy is an essential life skill that helps you take the… Continue reading

Centennial Celebration Event Map.
First Fed Centennial Event Guide

The First Fed Centennial Celebration is almost upon us! Here is the… Continue reading

The right broker can make or break a deal, get the best on your team at John L. Scott.
Knowing what to look for in a good agent should be priority #1

Designated Broker with 30+ years shares top tips for finding the right Real Estate Broker

The Clallam County Fair runs Aug. 17 to 20 at Clallam County Fairgrounds.
Clallam County Fair hosts Country Nights and Carnival Lights!

The fair returns Aug. 17 to 20 – here’s how to plan your visit

PC grad Georgia Johnson received her degree in Hospitality and Ecotourism in June 2023. Nora Pitaro photo.
Peninsula grad uses her hospitality degree every day at work

‘Every time I learned something, I could go into work the next day and apply it’

Rocha Family Auto Sales’ innovative no-fee, 90-day vehicle consignment program is designed to be safe, fast and effective.
Easy, fast + effective: Sequim dealer shares 4 simple steps to selling your vehicle

No-fee, 90-day consignment removes the stress from the sale process

Bailey Powers (submitted)
Forks’ newest pharmacist comes full circle

Recently we caught up with Pirate alumnus Bailey Powers. Between working full… Continue reading

Haven's shipwrights work on all types of boats, from commercial fishing boats to yachts and wooden sail boats. Photo courtesy First Fed
Haven Boatworks drops anchor in new dock

Port Townsend is a notable maritime hub in the Puget Sound. Its… Continue reading

Left to right, Beth Witters  and MarySue French.  Photo courtesy of Cabled Fiber and Yarn.
Locally inspired, hand-dyed yarn captures the beauty of the Olympic National Park

Discover inspiration for your next fiber art project in our local flora and fauna

Crystal Bachman is enrolled in the Peninsula College Paralegal Program, and currently works as a Legal Office Assistant at the Attorney General’s office in Port Angeles.
PC Paralegal Program supports student’s life-long dream

By Crystal Bachman I am currently enrolled at Peninsula College to fulfill… Continue reading