STAYING ON COURSE IN A YEAR OF TWISTS AND TURNS
In last year’s message, I shared with you what I often tell the bank’s executive team: If it were easy, anyone could do it. By now we all know 2020 was anything but easy. That’s why I am so proud of the outstanding team at First National Bank Alaska.
espite multiple challenges coming at us like sharp curves in the road ahead, our experienced team of Alaskans—directors, managers, back room and frontline employees--kept the First National bus firmly on the road throughout the year. We maintained the routes and even redesigned the bus while we were driving it! We shifted priorities, sharpened our customer focus, and leveraged our branch network and digital channels, all while ensuring uninterrupted access to banking services and the health and safety of employees and customers. Just like they always have when faced with challenges over nearly 100 years in Alaska, the seasoned team at the “best place to work in Alaska” buckled in and steered the bank in the right direction, meeting and exceeding expectations along the way.
“JUST LIKE THEY ALWAYS HAVE WHEN FACED WITH CHALLENGES OVER NEARLY 100 YEARS IN ALASKA, OUR SEASONED TEAM... STEERED THE BANK IN THE RIGHT DIRECTION, MEETING AND EXCEEDING EXPECTATIONS ALONG THE WAY.”
I also want to give a shout-out to our customers, Alaska business owners and managers who adapted to the extraordinary economic environment, and found new ways not only to survive, but also new ways to operate and new opportunities.
Many of those customers benefitted from one or more Paycheck Protection Program (PPP) loans through the Small Business Administration, thanks to
hardworking and dedicated lending officers and processors who worked day and night to meet the urgent need. Positive word-of-mouth quickly spread: First National is the most trusted PPP lender in Alaska. Our bank’s mortgage team also worked long hours, days, evenings and weekends so customers could take advantage of low mortgage rates to refinance their homes or purchase new ones.
Finally, we are humbled by the many messages of gratitude we have received from customers in our resilient communities; businesses, individuals and non-profits thankful for our continued support, as they bent without breaking under the pressure of never-before-seen adversity.
By the end of the unprecedented year, First National’s net income reached $57.5 million. Maybe even more notable, on a $200 million increase in total loans during 2020, delinquencies and non-performing loans, while modestly increased at mid-year, returned to
NO MATTER THE UPHILL BATTLES THAT MAY LIE AHEAD, WE KNOW WE CAN FORGE A CLEAR PATH FORWARD.
low levels by year-end. Our bank’s assets, on the strength of a dramatic increase in deposits, grew to $4.69 billion.
We look forward to the role our bank can play in shaping tomorrow for generations of Alaskans to come, just as we have for nearly a century. You play a part in our bank’s story and we are proud to earn your confidence and support. No matter the uphill battles that may lie ahead, we know we can forge a clear path forward.
Together, we can move mountains.
Sincerely,
Betsy Lawer
BETSY LAWER | BOARD CHAIR & CEO
Alaska Business magazine “Best of Alaska Business” Awards
Together, First National employees proved we can move mountains when we commit to working together to achieve remarkable outcomes. We witnessed a historic, global pandemic that brought disruption and economic hardship to communities across Alaska. The federal government responded with unprecedented fiscal support to small businesses and a sharp decrease in interest rates. In response, First National originated more than 2,400 Small Business Administration Paycheck Protection Program (SBA PPP) loans totaling $344.7 million. Bank deposits surged an incredible $835.7 million on CARES Act stimulus, increased customer savings, and organic customer growth, elevating total assets to $4.7 billion. Asset growth, increased loan fee income, and a record volume of mortgage loan originations drove net income to $57.5 million.
Net interest income totaled $142.6 million, a 4.4% improvement that included an elevated provision for loan losses of $2.2 million. Net interest margin decreased to 3.45% as maturing assets were replaced at lower yields and cash and short-term investments were increased to provide ample liquidity. Total loans grew $200 million across the year and the portfolio experienced increased delinquencies midyear as the impact of business shutdowns took hold. In response to customer needs, our loan officers modified some $319 million in loans, 90% of those to interest only. Delinquencies and nonperforming loans returned to low levels by year-end.
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Shareholders’ Equity: Common stock, $10 par value (Authorized shares: 2020 and 2021 - 4,000,000 shares) (Issued shares: Dec. 20, 3,166,885; Dec. 19, 3,167,510)
HIGHLIGHTS
STATEMENTS OF INCOME
Noninterest income grew to $26.0 million, an increase of 11.5%, as customers capitalized on low mortgage rates for home purchase and mortgage refinancing. Gains were recorded on securities called by issuers as interest rates fell. Other categories of noninterest income decreased amidst the business disruption and behavioral changes brought on by the pandemic and response.
Noninterest expenses totaled $91.4 million, a 6.5% annual increase. Salary and benefit expenses increased with overtime dedicated to SBA PPP loans and mortgage lending activities. Many employees transitioned to remote work, most used less vacation time because of travel restrictions and risks, and medical expenses were higher than the prior year. Despite the increases, the bank efficiency ratio at 53.28% remained low and steady with astute cost management in other areas of operation. The increased revenues and bank performance could not have occurred without the resiliency and dedication of our valued employees.
Net income of $57.5 million, return on assets of 1.33% and return on equity of 9.97% are strong results for a fateful year. Our leadership team boldly responded to quickly changing business conditions for our customers and employees, succeeding in supporting both important groups with resources, adaptations, and unwavering commitment.
We Believe in Alaska
MOVING MOUNTAINS
t the dawn of the new year, no one knew what obstacles waited over the horizon in 2020. But by the first quarter’s end, the world, our country and our state was in the midst of a pandemic that threw enormous challenges in our path— in everyone’s path.
Business continuity plans were in place, of course. But with conditions changing daily, even hourly, extraordinary efforts were needed to continue providing Alaskans vital financial services when they needed them most. This report highlights some of those efforts.
You’ll see how the First National team, at the best place to work in Alaska, came together as never before to move mountains. In 2021, as we operate in our 100th year of business, the strength, confidence and experience gained in meeting these challenges will serve our customers and shareholders well as we face the next century in the Last Frontier.
FOOD FOR THOUGHT
Linnea Cummings (l.) and her team at the Alaska Dinner Factory (ADF) deliver fully prepared meals to Alaskans in Anchorage and the Mat-Su Valley, allowing thousands to eat healthy meals while hunkering down. Since they opened in 2006, First National has provided ADF with an expansion loan and a wide range of banking services. In 2020, our local expert, Vice President Sheila Lomboy (inset), assisted ADF with their PPP loan, helping them maintain their appetite for success.
STEADY GROWTH IN AN UNCERTAIN YEAR
Near the end of the first quarter of 2020, performance indicators were looking positive for First National - most showed improvement over the same period a year before. Then, the World Health Organization declared coronavirus a pandemic, and no one could forecast what the year ahead would bring.
he quickly enacted federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, Paycheck Protection Program (PPP) (see Page 8), soon became the unanticipated priority as First National put the stimulus package into play for fellow Alaskans in need. While small business was the focus of the PPP, CARES assistance was also aimed at state, local and tribal governments, many of them First National customers.
This influx of fiscal activity spurred significant increases in loans over 2019. Each region of the bank reported substantial deposit growth. Net income surpassed the bank’s target goal, reaching $57.5 million. Remarkably, amid all the pandemic economic turmoil, loan quality remained high with a delinquent rate of under 1% for most of 2020 on a $2.25 billion loan portfolio.
One reason for this high loan quality is First National’s strong relationships with customers. With no person-to-person connection available, employees doubleddown on proactive outreach, strengthening ties with current customers and forging strong bonds with new customers migrating from other banks. Part of this effort was reaching out to loan customers struggling due to the pandemic and processing modifications to more than 400 loans, helping Alaska businesses, friends and neighbors weather the storm.
OUR CUSTOMERS MAY HAVE BEEN UNCERTAIN ABOUT WHERE 2020 WOULD LEAD. BUT, AS ALWAYS, THEY KNEW THEY COULD COUNT ON FIRST NATIONAL TO BE RIGHT BESIDE THEM AS THEY FACED THE YEAR’S UNPRECEDENTED CHALLENGES.
COPING WITH CRISIS
cross its 100-year history in Alaska, First National has persevered in the face of major crises, but none with the breadth and depth of the coronavirus pandemic. Every bank employee played a part in the bank’s response. The extraordinary results produced by these hardy Alaskans tell a compelling story about the importance First National placed on first ensuring the safety of employees and customers, before providing financial services to Alaskans when they needed them most.
TEAMING UP FOR BUSINESS CONTINUITY
As an “essential business,” it is the bank’s responsibility to sustain operations and ensure customer access to accounts and banking services regardless of circumstances. The
COVID-19 Emergency Response Team (ERT), co-chaired by Executive Vice Presidents Cindi Buzitis and Ryan Strong, acted quickly to prioritize the health and safety of employees, customers and communities, and then focused on aligning with federal, state and local mandates as they were issued.
To meet the challenges of the rapidly worsening situation— with time of the essence—the 15 members of the crossdivisional team developed and rolled out operational plans designed to mitigate spread of the virus in all areas of the bank, keeping managers and supervisors in the loop with daily briefings.
”Our contingency planning certainly paid great dividends,” said Buzitis, the bank’s Chief Compliance Officer. “The swift and decisive actions of the ERT in the chaotic initial stages of the pandemic reassured customers and employees that their health and safety was the bank’s top priority.’”
THE RIGHT MESSAGE TO THE RIGHT PEOPLE AT THE RIGHT TIME
Working closely with Human Resources, the Marketing team used all channels at its disposal to alert customers and employees of essential details of the bank’s pandemic response. Messages delivered through emails, the bank website, social media, and bank signage kept customers up to date. To keep all employees informed, the bank’s intranet featured a COVID-19 Preparedness hub as a ready resource and reference.
The message to all was clear: First National is doing all we can
to keep you safe, and we’re ready, willing and able to help you with all your banking needs.
HUMAN
RESOURCES
AT THE CENTER
By managing emergency sick leave, expanding emotional health services, developing and administering protocols to help reduce possible virus exposure and spread, and supporting the management of employees working remotely, the HR team worked unceasingly to keep employees’ health and safety at the forefront of bank operations. This included the marshaling of bank employees from across the bank and state to assist in the enormous PPP effort (see page 8)
KEEPING THE SUPPLY CHAIN OPEN
The beginning of a worldwide pandemic was not the ideal time to move our downtown Anchorage branch to a new location, with all the design and construction details that entails. But that’s exactly where employees of the Property Department found themselves in the early months of 2020.
Employees in the bank’s Facilities Section could also be found on the front lines of the bank’s immediate response to the pandemic, proactively
SIGN OF THE TIMES
Property Manager Mike Bridges displays the signs posted in all areas of First National to remind customers and employees to keep their social distance.
providing demanding logistical support to 27 far-flung branches and the bank’s other buildings and physical facilities. Dispatching supplies, equipment, and anti-bacterial goods; procuring and installing plexiglass dividers, “stand 6 feet apart” stickers and posters; and cleaning facilities after potential virus exposures were continually on their “To-do” list. They worked miracles despite worldwide shortages and shipping delays.
SECURE REMOTE ACCESS IN UNDER THREE WEEKS
The ERT had a Denali-sized mountain for the Information Technology Division to tackle: immediately provide 250+ employees with secure and reliable remote access to their bank workstations, allowing them to work from home to meet physical and social distancing
“UNDER INTENSE PRESSURE, THE BANK’S CULTURE OF A COLLABORATIVE APPROACH PROVIDED A VIRTUALLY SEAMLESS SOLUTION TO KEEP OUR EMPLOYEES SAFE AND CUSTOMERS SATISFIED.”
PHIL GRIFFIN |
EXECUTIVE VICE PRESIDENT AND CHIEF INFORMATION OFFICER
protocols while providing the same superior customer service. Network Services, heading up the multi-team project said, “No problem. We’re sure you know it usually takes more than a year to do this, but we’ll have it done in three weeks,” and they did.
“It’s difficult to overstate the complexities and security concerns of this task,” said Executive Vice President and Chief Information Officer Phil Griffin. “Under intense pressure, the bank’s culture of a collaborative approach provided a virtually seamless solution to keep our employees safe and customers satisfied.”
VETS WITH A VISION
Veterinarians Drs. Sara and Sean McPeck (upper left) returned from their tours in Afghanistan with a vision for a hospital that greatly reduced stress for pets and their owners. Creating a business plan using knowledge and techniques gathered working with military dogs overseas, the McPecks brought their vision to several banks, but only First National saw how they could succeed and provided the necessary financing to help open Tier 1 Veterinary Medical Center.
Since opening in 2018, Tier 1 has seen more than 12,000 animal patients. The top-notch facility features surgical suites, emergency care, rehabilitation and conditioning, diagnostic testing and much, much more. This top-tier facility is matched with a level of reduced-stress care that creates customers who can’t imagine going anywhere else.
RAPID RESPONSE ON THE FRONT LINES
The bank’s front-line employees in 27 branches stretching across Alaska were faced with abrupt and significant adjustments to keep business flowing. To ensure customer and employee safety, branches moved to a drive-thru model, handled in-branch customer needs on a byappointment basis, and managed a two-customer maximum occupancy in the lobby. The bank asked customers to practice physical and social distancing by
The McPecks share that feeling about their bank. “When First National says ‘We believe in Alaska’ they stand behind it,” said Dr. Sean McPeck. “They certainly showed they believed in us.”
encouraging and facilitating transactions via drive-thru, ATM or through online and mobile banking.
As the year progressed, branches constantly adjusted operations to meet the rapidly changing conditions and protocols of the state and their community. Through it all, these dedicated employees continued to reassure Alaskans that, as always, First National is there when you need us most.
RIGHT HERE IN ALASKA
Local experts Aurora Agee (top) and Janet Ehret are just two of First National’s 650-plus Alaskan employees. Agee, Eagle River Branch Manager, and Ehret, Personal Banker at the Wasilla Branch, use their local expertise to help Tier 1 (see above) stay on the track to success.
SHOWING UP BIG FOR SMALL BUSINESS
n March, to help mitigate the pandemic’s severe impact on the U.S. economy, Congress swiftly passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included the Paycheck Protection Program (PPP), administered by the Small Business Administration (SBA). In response, the First National team had another mountain to move.
“I WILL NEVER FORGET THE SELFLESSNESS OF SO MANY HERE AT FIRST NATIONAL.”
DARREN FRANZ EXECUTIVE VICE PRESIDENT AND CHIEF COMMERCIAL LENDING OFFICER
Before the PPP application process opened on April 3, the bank informed customers of the program, and established a Loan Relief webpage with links to the PPP application and to a number of tools and SBA resources. Because program funds were limited - and many of the nation’s businesses were desperate to survive
First National committed to processing as many applications for Alaska businesses as possible, as quickly as possible, to provide critical support to Alaskans before the funds were used up.
In the first phase of PPP lending from April 3 to April 16, before federal funds ran out, First National loan officers and employees, and volunteers from all areas of the bank processed loans for 1,509 Alaska business owners, obtaining a total of $276.8 million in SBA-guaranteed funding. The team worked day
AT THE CENTER OF THE STORM D’Ava Marsh (top), Central Loan Processing Director, and Bory McMahan, Loan Documentation Support Manager, stood strong in the midst of the bank’s PPP loan processing. Their efforts to help process more than 2,400 loans, in the face of constantly and quickly changing SBA directives, led to long hours and more than their share of stress. The dedication and determination they brought to help Alaska businesses in their hour of great need echoes the same hard work put in by many others to complete the monumental task.
and night, 7 days a week for nearly two weeks to accomplish these extraordinary tasks. Many program changes were made by the SBA throughout the initial process, requiring diligent application reviews to avoid potential rejections. Going above and beyond the call of duty was standard procedure. Executive Vice President and Chief Commercial Lending Officer Darren Franz was amazed at the effort.
“Employees from all over the bank volunteered to help with this herculean effort and worked around the clock,” said Franz. “In nearly three decades of Alaska banking, I have never seen this type of incredible effort and determination. I will never forget the selflessness of so many here at First National.”
In the program’s second phase when Congress appropriated more money for the program in late April, the First National team restarted the process quickly, processing another 955 loans for a total of $67.9 million in SBA-guaranteed funds.
The big picture? In 2020 the bank helped more than 2,400 Alaska businesses receive more than $344 million dollars to support their employees and keep their companies viable during tough times. The bank has also been instrumental in helping these businesses with the loan forgiveness portion of the program, acting as a liaison
PPPLOANSBYCOMMUNITY
between our customers and the SBA to make sure businesses know if they qualify.
This amazing effort was certainly remarkable but not surprising to those who know First National’s history. When the livelihoods and businesses of thousands of Alaskans are on the line, the mountain must be moved.
AHEAD OF THE GAME
With roots in South Korea, Andy Kwon of MC Corporation closely followed news from the area. When he saw how COVID-19 spread there, he knew it wouldn’t be long before the virus came to Alaska. Kwon immediately switched his company’s focus from janitorial to sanitizing, ordering supplies and preparing PPE stockpiles. As a customer of MC Corp., First National appreciated Kwon’s preparation and quick response when the pandemic hit Alaska.
The bank had a quick response, too, when Kwon applied for a PPP loan in April and Vice President Ken Hanley (inset) helped with the application process. MC Corp. also trusts First National with its other lending, deposit and cash management needs.
Juneau
Fairbanks
Kodiak
Dillingham
Bethel
Anchorage
Cordova
Ut qi a vi k
Prudhoe Bay
RECORD YEAR REQUIRES
EXTRAORDINARY
EFFORT
he market reaction to the pandemic presented one positive side effect: record-low mortgage loan interest rates. Alaskans’ response to these rates led to a yearlong effort by the Mortgage Lending Department (MLD) to keep up with the demand.
“THIS TEAM HAS HELPED OUR CUSTOMERS ACHIEVE THEIR FINANCIAL AND HOMEOWNERSHIP GOALS AND THEY’VE ALSO HELPED THE BANK ACHIEVE OUR OWN FINANCIAL GOALS.”
RYAN STRONG EXECUTIVE VICE PRESIDENT AND CHIEF BANKING OFFICER
BRINGING IT HOME
The super heroes in Mortgage Lending across the state, a portion shown here, put on their masks and worked tirelessly for most of the year to process more than 900 new loan and refinancing applications.
As interest rates fell throughout 2020, mortgage applications rose accordingly, the majority coming from Alaskans wanting to refinance. In just the first six months, the MLD team closed 383 loans totaling $107,289,845— exceeding the total volume of mortgage loans in 2019. By year’s end, First National had closed more than 900 loans and exceeded $247 million in dollar volume. That’s more than twice the bank’s total mortgage loan volume in 2019.
The 37 MLD employees across the state went more than the extra mile to process this mountain of mortgage loan applications, with many employees sometimes working seven days a week for extended periods.
“I couldn’t be more proud of the work they’re doing,” said Executive Vice President and Chief Banking Officer Ryan Strong. “This team has helped our customers achieve their financial and homeownership goals and they’ve also helped the bank achieve our own financial goals.”
“Teamwork makes the dream work” may sound cliché to some, but when everybody on the team goes above and beyond expectations the sentiment rings true. Time and time again during the pandemic, First National employees have been asked to move mountains. MLD’s efforts have shown that, no matter the size, those mountains don’t stand a chance against a team dedicated to helping Alaskans succeed.
30 YEARS
RUNNING
The 2019-20 school year marked three decades of dedicated financial and volunteer support from First National for the Alaska School Activities Association (ASAA). Over the last 30 years, our title sponsorship has helped ASAA bring the benefits of educational-based activities participation – increased selfconfidence, the value of teamwork, fair play, and hard work, among many others – to more than 750,000 high school students. It’s no coincidence that participation in high school activities often leads to success later in life. That’s one reason why First National has been a major supporter of ASAA - Alaska’s future leaders will need a strong foundation to face the challenges ahead.
REIMAGINING TRADITIONS
Safety protocols made it impossible to hold our traditional Holiday Open House this past year. The bank looked for another way to celebrate, and “Spirit of Alaska” was born. This virtual concert, featuring more than 20 Alaska artists, was a thank-you not just to customers but to all Alaskans. Produced to benefit United Way of Anchorage, the concert was part of an effort that raised more than $73,000 to feed hungry Alaskans. In all, First National gave $90,400 to help fight food insecurity through organizations such as Kenai Peninsula Food Bank, Neighbor to Neighbor, Valdez Food Bank and Southeast Alaska Food Bank.
This reinvention of traditions occurred throughout the year. First National safely distributed packets of pumpkin pie spices instead of slices on the day before Thanksgiving, and found meaningful ways to connect with customers during the holidays without being able to connect face to face. We used virtually every means (virtual or not) to maintain and strengthen our relationships with customers, a traditional First National strong suit.
NOW MORE THAN EVER
Throughout the state’s history, Alaskans have come together to overcome adversity. Through earthquake, flood, fire or economic hard times, we have persevered. So when another type of natural disaster came our way in 2020, we banded together once again to face an extraordinary challenge with an extraordinary response.
irst National is proud of our part in that response. True to our focus on supporting emergency social services, one of our earliest efforts was sponsorship of a virtual fundraising concert for Food Bank of Alaska. Later in the year, First National produced its own virtual concert, “Spirit of Alaska,” to benefit United Way of Anchorage and help the thousands of Alaskans dealing with food insecurity (see inset)
First National continued its long support of organizations relied upon even more heavily during the pandemic by those hardest hit, such as American Red Cross of Alaska, Boys & Girls
Clubs, The Salvation Army, Camp Fire USA, Covenant House Alaska, and United Ways throughout the state. All told, First National contributed close to $1 million dollars to Alaska communities in 2020.
CONTRIBUTIONS TO
COMMUNITIES MORE THAN $907 THOUSAND
Moving mountains is tough. But, when you’ve done it a few times, it offers some perspective. Alaskans know, even in winter’s darkness, there’s light up ahead and hope for a brighter day.
That’s why, now more than ever, we believe in Alaska. We believe in you.
BOARD OF DIRECTORS
LEADERSHIP
Betsy Lawer Board Chair & CEO
Perry Eaton Lead Director Artist
Margy Johnson Business Community Member
Tom Tougas Owner Major Marine Tours
Julie Taylor Retired Dec. 2020
Jane Klopfer Business Community Member
Lucy Mahan Vice Chair Owner, Transitional Counseling
Doug Longacre President & Director
Tom Barrett Business Community Member
EXECUTIVE MANAGEMENT TEAM
SENIOR MANAGEMENT TEAM
BRANCHES
ANCHORAGE
777-4362
Dimond Branch
8725 Old Seward Hwy.
P.O. Box 100720
Anchorage, AK 99510-0720
Eastchester Branch
1821 Gambell Street
P.O. Box 100720
Anchorage, AK 99510-0720
Metro Branch
360 K Street, Suite 100
P.O. Box 100720
Anchorage, AK 99510-0720
Muldoon Branch
1100 Muldoon Road
P.O. Box 100720
Anchorage, AK 99510-0720
North Star Branch
5850 Westover Avenue
JBER, AK 99506-1603
Northern Lights Branch
1210 W. Northern Lights Blvd.
P.O. Box 100720
Anchorage, AK 99510-0720
South Center Branch
201 W. 36th Avenue
P.O. Box 100720
Anchorage, AK 99510-0720
U-Med Branch
3650 Piper Street, Suite 100
P.O. Box 100720 Anchorage, AK 99510-0720
BETHEL
Kuskokwim Branch
700 Front Street
P.O. Box 286
Bethel, AK 99559-0286 543-7650
CORDOVA
Cordova Branch
528 First Street
P.O. Box 360 Cordova, AK 99574-0360 424-6700
EAGLE RIVER
Eagle River Branch 11412 Business Blvd. Eagle River, AK 99577-7720 689-5200
FAIRBANKS
Golden Valley Branch 1300 Washington Drive P.O. Box 82487 Fairbanks, AK 99708-2487 459-7100
Johansen Branch 430 Merhar Avenue Fairbanks, AK 99701-3166 450-7300
GLENNALLEN
Glennallen Branch
Mile 187 Glenn Hwy., Suite C P.O. Box 85
Glennallen, AK 99588-0085 822-7350
HAINES
Haines Branch
123 Main Street
P.O. Box 70 Haines, AK 99827-0070 766-6100
HEALY
Healy Branch
Tri-Valley Community Center
P.O. Box 460 Healy, AK 99743-0460 683-7750
HOMER
Homer Branch 3655 Heath Street Homer, AK 99603-7667 235-5800
JUNEAU
Juneau Regional Branch 840 W. 10th Street P.O. Box 21248 Juneau, AK 99802-1248 586-5400
Valley Centre Branch 8990 Glacier Hwy. Juneau, AK 99801-8030 790-8000
KENAI
Kenai Branch
11408 Kenai Spur Hwy. Kenai, AK 99611-7799 283-6800
KODIAK
Kodiak Branch 218 Center Avenue
Kodiak, AK 99615-6312 486-7900
PALMER
Palmer Branch
303 W. Evergreen Avenue
Palmer, AK 99645-6954 746-8900
SEWARD
Seward Branch
303 4th Avenue
P.O. Box 69 Seward, AK 99664-0069 224-4200
SITKA
Sitka Branch 318 Lincoln Street Sitka, AK 99835-7545 747-7000
SOLDOTNA
Soldotna Branch 44501 Sterling Hwy. Soldotna, AK 99669-7938 260-6000
VALDEZ
Valdez Branch
101 Egan Drive P.O. Box 37 Valdez, AK 99686-0037 834-4800
WASILLA
Wasilla Branch 775 E. Parks Hwy. Wasilla, AK 99654-8191 352-5900
Corporate Headquarters
101 W. 36th Avenue P.O. Box 100720 Anchorage, AK 99510-0720
Operations Center 1751 Gambell Street P.O. Box 100720 Anchorage, AK 99510-0720
First National Bank Alaska is an Equal Opportunity Employer, including disability and veterans.
Mission Statement
The bank’s multi-part mission is to safekeep depositors’ money, provide all legitimate financial services to the community consistent with bank resources, furnish employees with competitive salaries and a pleasant working environment, and earn a proper return for shareholders. For nearly a century our commitment to the mission has served our customers, our employees, our communities and our shareholders well.