State and national banks operating in Alaska.

• Author: Barbour, Tracy

Alaska has nearly 10 state- and nationally chartered banks to serve the distinct needs of the population. They are Alaska First Bank & Trust N.A., Alaska Pacific Bank, Denali State Bank, First National Bank Alaska, KeyBank N.A., Mt. McKinley Bank, Northrim Bancorp Inc. and Wells Fargo Bank N.A. Following is a brief summary of each bank.

But first, here's a quick primer on the distinction between state and national banks. Currently in the United States, the term "national bank" specifically refers to a banking institution chartered by the Office of the Comptroller of the Currency ("OCC"), an agency in the U.S. Treasury Department, pursuant to the National Bank Act. The inclusion of the word "National" in the bank's name or the designation "National Association" or its abbreviation "N.A." is a required part of the distinguishing legal title of a national bank, as in "Wells Fargo Bank N.A."

Many "state" banks, in contrast, are chartered by the applicable state government--usually the State's Department of Banking. However, these banks are still typically regulated by the Federal Deposit Insurance Corp. (FDIC), which insures their deposits.

It's important to note that national banks may have operations in only one state. Likewise, some state-chartered banks have nationwide operations--but are not properly called national banks. Also, national banks are distinctly different from federal savings associations--federal savings & loans and federal savings banks--which are financial institutions chartered by the Office of Thrift Supervision, another agency in the U.S. Treasury Department.

Alaska First Bank & Trust N.A., established in 1996, is a financial institution that offers a variety of financial services. Its offerings include consumer and commercial mortgage lending services; investment advice and consultation; investment and portfolio management services; and online banking.

Alaska Pacific Bank started in 1935 as Alaska Federal Savings and Loan Association, operating inside the offices of Columbia Lumber Co. in Juneau. Alaska Pacific Bank is currently headquartered in Juneau in the Nugget Mall office. The regional community bank provides a variety of business, personal and real estate loans and other financial services.

Denali State Bank is a locally owned, full-service bank established in 1986. Denali Bancorporation is a privately owned bank-holding company located in Fairbanks. Its subsidiary, Denali State Bank, is a community bank with...