One-on-one with Jo Heckman: Denali State Bank: she's the first female bank president in the history of Alaska.

• Author: Mehta, Neil S.
• Position: Interview - Interview

Fairbanks-based Denali State Bank is considered by many to be the maverick of Alaska banking. The company was founded in 1986 when other banks were shutting down, and it has remained locally owned even though much of its competition is controlled by large, out-of-state banks.

So this April it was no surprise for those familiar with the bank to learn that Denali once again defied the norm by appointing the first female bank president in the history of Alaska, Jyotsna "Jo" Heckman.

Heckman, who was Denali's executive vice president prior to the nomination, has been with the bank since its inception. She has seen Denali grow from a small operation that was based out of former President Gary Roth's garage, to a profitable organization with 87 employees and nearly 200 shareholders. Today, Denali operates four banks-three in Fairbanks and one in Tok.

Heckman recently spoke with Alaska Business Monthly about Denali's past and her vision for its future.

ABM: In 1986, you were offered an opportunity to help charter and open a new community bank, Denali. What excited you about the opportunity?

HECKMAN: In 1986, the Alaska economy was experiencing a downturn. Many financial institutions were not operating profitably, and many were going under. To have the courage to open a new bank while others were closing down appealed to me. I knew then that this bank was not going to be your everyday bank.

What was different about this bank was the fact it was local. It would have employees from Fairbanks, management from Fairbanks and ownership from Fairbanks. What was also different was the bank was going to be built on the premise of delivering exemplary service, which was rare for banks of the time.

In fact, I was so excited about this opportunity that I made the decision to join the company in less than 24 hours of the time I was offered a position. I knew it wouldn't be easy, but I believed so much in what we were going to create because nobody at that time was providing the services that we envisioned.

ABM: As you said, what made Denali unique when it was founded was that it was a locally owned community bank.

What is the significance of that title?

HECKMAN:We are an Interior-based bank. That means that our directors and investors are all from Interior Alaska. Our staff and management live and work here. The whole concept is that we are part of the community, and as such we wanted the community to be a part of us. The customers didn't have to go to...