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first national bank of alaska stock

First National Bank Alaska (FBAK) There is a stigma attached to companies whose stock price is over $100 a share. First National Bank Alaska is a full-service commercial bank. The Bank's primary activities are lending, investing and deposit gathering. First National Bank Alaska. Common Stock. 230.00. 5.00. 2.22%. 230.00 / 231.00.

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Wells Fargo to Buy Alaskan Bank

Wells Fargo & Co. on Tuesday agreed to buy National Bancorp of Alaska Inc., the state’s biggest bank, for $907 million in stock to expand into Alaska.

San Francisco-based Wells Fargo, already in 21 states with about 6,000 branches, will pay $30 a share for National Bancorp, below Monday’s closing price of $32.88. The Anchorage-based bank’s stock, which was halted on Nasdaq pending usaa credit card login page announcement, is up 50% in the past seven trading days. It rose to $39.75 before being halted.

National Bancorp, founded in 1916, has $3 billion in assets, 1,250 employees and 54 branches under the name National Bank of Alaska, including a full-service branch in Seattle. Wells Fargo, which is paying two times book value, had no branches in Alaska. The acquisition is expected to close in the second quarter.

“It’s a first national bank of alaska stock deal,” said Andrew Collins, a bank analyst for ING Barings in New York. “It’s an extension up the Pacific coastline and there really aren’t a lot of competitors up there on the ground.”

National Bancorp Chairman Edward Rasmuson said he felt the bank needed to be part of a large financial company to compete in an era where the walls between banks, brokers and insurers have crumbled.

“We first national bank of alaska stock to make sure that we keep up with e-commerce,” Rasmuson said on a conference call.

Wells Fargo is the largest U.S. Internet bank with more than 1 million Web customers now and 100,000 new ones every month, it claims.

Rasmuson’s grandfather, an attorney for the bank at its inception, became the bank’s president in 1919. His son, Elmer, now 90, has been part of the bank for more than 60 years and is chairman emeritus. Rasmuson became president and chief executive in 1975 and chairman in 1985.

Wells Fargo shares fell 66 cents to close at $40 on the New York Stock Exchange.

The bank said in a conference call it had to move quickly to announce the acquisition because of the rapid rise in National Bancorp’s share price. “Left up to our own, we probably would have delayed this until we had a formalized merger agreement which would be about another three weeks,” Wells’ Robert Strickland said.

Источник: https://www.latimes.com/archives/la-xpm-1999-dec-22-fi-46332-story.html

First National Bank Alaska (OTCMKTS:FBAK) Stock Price Crosses Below 50 Day Moving Average of $232.17

First National Bank Alaska (OTCMKTS:FBAK) Stock Price Crosses Below 50 Day Moving Average of $232.17

First National Bank Alaska (OTCMKTS:FBAK)’s stock price passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $232.17 and traded as low as $225.05. First National Bank Alaska shares last traded at $225.05, with a volume of 125 shares traded.

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2021 News Releases

Huntington National Bank Announces Appointment of Climate Risk Director and Environmental Strategy & Sustainability Director

November 22, 2021
 Huntington today announced its first-ever Climate Risk Director and Environmental Strategy & Sustainability Director. These actions reflect stakeholder feedback and illustrate the company’s increased focus on climate and environmental related efforts. VIEW/DOWNLOAD
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Huntington Bancshares to Present at the 2021 Bank of America Securities Banking and Financials Conference

November 8, 2021
 Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the 2021 Bank of America Securities Banking and Financials Conference on Wednesday, November 10, 2021.  VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Reports 2021 Third-Quarter Earnings

October 28, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2021 third quarter of $377 million, an increase of $74 million from the year-ago quarter, benefited by lower provision expense but impacted by TCF acquisition-related expenses. Earnings Press Release (WIRE)
Earnings Press Release and Supplement
Slide Presentation including Appendix (PDF)

Huntington Bancshares Incorporated Announces Increase to Quarterly Cash Dividend on its Common Stock and Declares Quarterly Cash Dividends on its Preferred Stocks

October 22, 2021
 Huntington Bancshares Incorporated (www.huntington.com) announced that the Board of Directors declared a quarterly cash dividend on the company’s common stock (Nasdaq: HBAN) of $0.155 per common share, up $0.005, or 3%, from the prior quarter. VIEW/DOWNLOAD
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Huntington Bank Takes Top Spot  Nationally For SBA 7(A) Loan Origination By Volume For Fourth Consecutive Year

October 8, 2021
 Huntington National Bank is the nation’s largest originator, by volume, of Small Business Administration (SBA) 7(a) loans for the fourth consecutive year at the close of SBA fiscal year 2021, further strengthening its position as the leader in supporting small businesses. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated To Announce 2021 Third Quarter Earnings And Hold Earnings Conference Call October 28, 2021

September 29, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) expects to report its 2021 third quarter earnings on Thursday, October 28, 2021, prior to the market opening.VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Declares Quarterly Cash Dividend On Its Series I Preferred Stock

September 15, 2021
Huntington Bancshares Incorporated announced that the Board of Directors declared and set aside a quarterly cash dividend on the company’s 5.70% Series I Non‐Cumulative Perpetual Preferred Stock (Nasdaq: HBANM) of $356.25 per share (equivalent to $0.35625 per depositary share) payable December 1, 2021, to shareholders of record on November 15, 2021. VIEW/DOWNLOAD
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Huntington Announces Redemption Of All Depositary Shares Representing Interests In Series C Preferred Stock

September 13, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced the redemption on October 15, 2021 of all 4,000,000 outstanding depositary shares (Nasdaq: HBANN; CUSIP: 446150872), each representing a 1/40th interest in a share of Huntington's 5.875% Series C Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share. VIEW IN BROWSER

Huntington Bancshares To Present At The Barclays Global Financial Services Conference

September 7, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the Barclays Global Financial Services Conference on Monday, September 13, 2021. VIEW/DOWNLOAD
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Huntington Hires Michael Maeser To Lead Twin Cities Wealth Management Team

August 30, 2021
Huntington Bank today announced that Michael Maeser has joined the company as the Minneapolis-St. Paul area executive for its wealth-management arm, the Huntington Private Bank. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Announces Extension Of Early Participation Date And Early Results Of Its Private Exchange Offers

August 23, 2021
Huntington Bancshares Incorporated (“Huntington”) today announced that it is extending the early participation date for its series of private exchange offers (the “exchange offers”) to certain eligible holders to exchange Huntington’s 4.350% Subordinated Notes due 2023 and The Huntington National Bank’s 6.250% Subordinated Notes due 2022, 4.600% Subordinated Notes due 2025 and 4.270% Subordinated Notes due 2026 (collectively, the “old notes”) for Huntington’s 2.487% Fixed- to-Fixed Rate Subordinated Notes due 2036 (the “new notes”). VIEW/DOWNLOAD
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Huntington Private Bank Expands Into Twin Cities Market, Launches Hiring Campaign

August 17, 2021
The Huntington Private Bank, the wealth-management arm of Huntington Bancshares Incorporated, is expanding into the Minneapolis-St. Paul market following the company’s recent merger with TCF Financial. VIEW/DOWNLOAD
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Huntington 2020 ESG Report Highlights Commitment to Shareholders, Customers, Colleagues and Communities

August 12, 2021
first national bank of alaska stock Huntington Bancshares Incorporated (Nasdaq: HBAN) has issued its 2020 Environmental, Social and Governance (ESG) Report, which highlights how Huntington helps people reach their goals, provides businesses with the resources to grow, and works to create prosperous and resilient communities.VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Announces Offers To Exchange Any And All Of Its Outstanding Subordinated Notes And Certain Outstanding Subordinated Notes Of The Huntington National Bank For 2.487% Fixed-To-Fixed Rate Subordinated Notes Due 2036 Issued By Huntington Bancshares Incorporated

August 9, 2021
Huntington Bancshares Incorporated (“Huntington”) today announced it has commenced a series of private exchange offers (the “exchange offers”) in which Huntington will offer to certain eligible holders of Huntington’s 4.350% Subordinated Notes due 2023 and The Huntington National Bank’s 6.250% Subordinated Notes due 2022, 4.600% Subordinated Notes charter spectrum login to pay bill 2025 and 4.270% Subordinated Notes due 2026 (collectively, the “old notes”) the opportunity to exchange such old notes for Huntington’s 2.487% Fixed-to-Fixed Rate Subordinated Notes due 2036 (the “new notes”).VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Announces Pricing Of $500 Million Of 2.487% Fixed-To-Fixed Rate Subordinated Notes

August 9, 2021
Huntington Bancshares Incorporated today announced the pricing of its previously announced private offering of $500 million principal amount of fixed-to-fixed rate subordinated notes due 2036 (the “Notes”).VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Announces Launch Of Private Offering Of Subordinated Notes

August 9, 2021
Huntington Bancshares Incorporated today announced that it has commenced a private offering of subordinated notes (the “Notes”).VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Reports 2021 Second-Quarter Earnings

July 29, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) reported a net loss for the 2021 second quarter of $15 million, a decrease of $165 million from the year-ago quarter, impacted by TCF acquisition-related expenses. Earnings Press Release (WIRE)
Earnings Press Release and Supplement
Slide Presentation including Appendix (PDF)

Huntington Bancshares Incorporated To Announce 2021 Second Quarter Earnings And Hold Earnings Conference Call July 29, 2021

July 2, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) reported a net loss for the 2021 second quarter of $15 million, a decrease of $165 million from the year-ago quarter, impacted by TCF acquisition-related expenses. VIEW/DOWNLOAD
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Huntington Launches Early Pay Giving Customers Early Access To Paychecks At No Extra Cost

June 28, 2021
Getting paid early is now possible with Huntington’s (Nasdaq: HBAN) newest product, Early Pay. VIEW/DOWNLOAD
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Huntington Ranks Highest Among Regional Banks in the J.D. Power 2021 U.S. Banking Mobile App Satisfaction Study for the Third Year in a Row

June 17, 2021
Huntington Bank (Nasdaq: HBAN) has claimed the top spot among regional banks in the J.D. Power 2021 U.S. Banking Mobile App Satisfaction Study for the third year in a row. VIEW/DOWNLOAD
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Huntington Announces New Strategic Community Plan with $40 Billion Pledge to Strengthen Small Businesses, Minority and Under‐Resourced Communities

June 16, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced a new strategy to tackle social, racial, environmental and economic inequities across its footprint by committing $40 billion toward its new Community Plan.   VIEW/DOWNLOAD
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Huntington Announces Redemption of All Depositary Shares Representing Interests In Series D Preferred Stock

June 10, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced the redemption on July 15, 2021 of all 24,000,000 outstanding depositary shares (Nasdaq: HBANO; CUSIP: 446150708), each representing a 1/40th interest in a share of Huntington’s 6.250% Series D Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share.  VIEW/DOWNLOAD
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Huntington Completes Merger With TCF, Adds Five New Board Members

June 9, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN; “Huntington”) today announced it has closed its merger with TCF Financial Corporation (“TCF”), creating a Top 25 U.S. bank holding company. VIEW/DOWNLOAD
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Huntington Bancshares to Present At The 2021 Morgan Stanley US Financials, Payments & CRE Conference

June 7, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the 2021 Morgan Stanley US Financials, Payments, & CRE Conference on Tuesday, June 15, 2021. VIEW/DOWNLOAD
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Huntington Launches Standby Cash(SM) To Give Eligible Customers An Instant Line Of Credit For Unexpected Expenses

June 1, 2021
Planning for the unexpected just got easier with Huntington's (Nasdaq: HBAN) first digital-only product, Standby Cash. VIEW IN BROWSER

Huntington, TCF Announce Receipt Of All Required Regulatory Approvals For Pending Merger

May 25, 2021
Huntington Bancshares Incorporated and TCF Financial Corporation jointly announced that the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, with input from the United States Department of Justice’s Antitrust Division (the “DOJ”), have approved the proposed merger of Huntington and TCF and of The Huntington National Bank and TCF National Bank.  VIEW/DOWNLOAD
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Huntington Ranks Highest in Customer Satisfaction with Consumer Banking in the North Central Region in the J.D. Power 2021 U.S. Retail Banking Satisfaction Study

May 3, 2021
Huntington Bank has claimed the highest ranking in Customer Satisfaction with Consumer Banking in the North Central Region of the J.D. Power 2021 U.S. Retail Banking Satisfaction Study, the sixth time in nine years. VIEW IN BROWSER

Huntington Bancshares Incorporated Declares Quarterly Cash Dividends On Its Common And Preferred Stocks

April 22, 2021
Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company’s common stock (Nasdaq: HBAN) of $0.15 per common share, unchanged from the prior quarter. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Reports 2021 First-Quarter Earnings

April 22, 2021
Huntington Bancshares Incorporated reported net income for the 2021 first quarter of $532 million, an increase of $484 million from the year-ago quarter. Earnings Press Release (WIRE)
Earnings Press Release and Supplement
Slide Presentation including Appendix (PDF)

Huntington, TCF Shareholders Approve Merger Of TCF Into Huntington

March 25, 2021
Huntington Bancshares Incorporated and TCF Financial Corporation jointly announced that each company’s shareholders have approved the proposed merger of TCF into Huntington at their respective special meetings of shareholders held today. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated to Announce First Quarter Earnings and Hold Earnings Conference Call

March 12, 2021
Huntington Bancshares Color by number pages for adults printable (Nasdaq: HBAN; www.huntington.com) to Announce First Quarter Earnings and Hold Earnings Conference Call April 22, 2021. VIEW/DOWNLOAD
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Huntington Bancshares To Present At The 2021 RBC Capital Markets Financial Institutions Conference

February 24, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) will be participating in the 2021 RBC Capital Markets Financial Institutions Conference on Wednesday, March 10, 2021. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Announces Additions To The Executive Leadership Team Structure For Combined Company Following TCF Merger

February 10, 2021
Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) today announced that Tom Shafer, CEO of TCF National Bank, will join Huntington’s Executive Leadership Team as co-President of Commercial Banking following the completion of Huntington’s merger with TCF, which is expected to occur late in the second quarter, subject to the satisfaction of customary closing conditions. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Declares Quarterly Cash Dividends On Its Common And Preferred Stocks

January 22, 2021
Huntington Bancshares Incorporated (www.huntington.com) announced that the Board of Directors declared a quarterly cash dividend on the company’s common stock (Nasdaq: HBAN) of $0.15 per common share, unchanged from the prior quarter. VIEW/DOWNLOAD
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Huntington Bancshares Incorporated Reports Record Annual Earnings

January 22, 2021
Results Include Record Annual Revenue (+3%), a 6% Increase in Average Loans, and an 11% Increase in Average Core DepositsEarnings Press Release and Supplement
Slide Presentation including Appendix (PDF)
Источник: http://huntington-ir.com/ne/news/
Banker and Attorney

Dan Cuddy presided over the First National Bank of Anchorage (now First National Bank Alaska) for more than seven decades (1943-2015) as president, chairman, or as a member of the bank’s board of directors. His was a career remarkable for its duration and for its impact on the development of the state. On May 13, 2015, the Alaska Dispatch News gave this assessment:

“Cuddy’s conservative approach to lending was widely credited for ensuring its [First National Bank Alaska] survival through a disastrous recession in the late 1980s, when about a dozen banks and credit unions in the state collapsed.” Bill Popp of the Anchorage Economic Development Corporation said: “He had a strong conservative hand at the helm of his bank, but at the same time he had a willingness to invest in the community.” He was “one of the great leaders that helped build Alaska.”1

Early Years in Valdez and Anchorage

Daniel Hon Cuddy (also known as “Dan” or “D.H.”), son of Warren Cuddy and Lucy Hon Cuddy, was born on February 8, 1921 in Valdez, Alaska, a town of five hundred residents. His father was trained as a lawyer, but was engaged in the dry goods and mercantile business in Valdez until 1921. The couple had come to Valdez separately, but had a common goal of adventure. His mother, Lucy Hon Cuddy, a teacher and the Valdez school principal, met Warren in Valdez in 1916. They married in 1917, and quickly became a productive part of the local community. They had two sons, David Warren Cuddy, born in 1919, and Daniel Hon Cuddy.2

Warren Cuddy was the clerk of court and, later, U.S. district attorney of the U.S. District Court for the Third Judicial Division at Valdez. The elder Cuddy, a Republican, was replaced as U.S. district attorney when Franklin D. Roosevelt was elected as president. The Cuddy family moved to Anchorage when Warren Cuddy set up a private law practice. In the 1930s, he gradually bought stock in the First National Bank of Anchorage. In 1941, when Anchorage’s population began to grow rapidly due to the pre-World War II military build-up, Cuddy purchased controlling interest in First National and assumed the role as bank president.3

Dan Cuddy grew into a sharp, industrious, and intelligent young man, raised in the family’s tradition of having a spirit of adventure and becoming a productive member of the community. Dan attended Anchorage High School and was active in sports. Both he and his brother, David, were on the basketball team. They both participated in outdoor wildlife adventures, running a trap line along Ship Creek, duck hunting on the Cook Inlet mud flats, and moose and sheep hunting in the Chugach Mountains. As a young boy, Dan delivered newspapers and worked as the groundskeeper for the Anchorage Golf Course, then located on the Delaney Park Strip.

In the summer of 1938, at the age of seventeen, Dan Cuddy was employed by the Emard Packing Company, one of the largest private employers in Anchorage. After Emard had fired the cannery manager because of his drinking, Dan boldly came forward and proposed that he run the cannery and its thirty employees along the “slime line.” Emard agreed, saying: “I hand you this leaky boat.” He was promoted to cannery superintendent. Cuddy later asked Emard to join the board of directors of the First National Bank of Anchorage. Dan then worked as a heavy equipment operator at Farewell Lake, as a commercial fisherman, and as a gold miner.4

Military Service in World War II

Dan Cuddy attended Stanford University from 1940 to 1942, taking courses in pre-law, but his education was interrupted when the United States entered World War II. On December 8, 1942, he enlisted in the U.S. Army as a private. 5 He then entered Officer’s Candidate School, where his leadership ability was recognized, and he was promoted to captain within twenty-one months. Dan served in the 1255 Engineer Combat Battalion, which was attached to General George S. Patton’s Third Army on his campaign across Europe in 1944-1945. Dan fought in the Battle of the Bulge and Luxembourg, and he was among the troops who assisted in the closing of the Buchenwald concentration camp near Weimar, Germany. While on active duty, he was elected to the First National Bank’s board in January 1943.6

Return to Civilian Life

In 1945, Dan Cuddy returned to civilian life. He completed his bachelor’s degree in economics at Stanford University. Upon graduation, he attended law school at the University of Washington. He was a law clerk for a year for his father, passed the bar exams, and prepared to enter the legal profession.7

While in law school, Dan Cuddy met Betty “Betti” Jane Puckett, a school teacher from O’Neill, Nebraska. As a young woman, she taught high school in Grand Island, Nebraska before her marriage to Cuddy in 1948.

First National Bank of Anchorage

Dan Cuddy’s early legal work focused on adoptions. He became the junior partner in his father’s law firm, Cuddy & Cuddy. On the death of his father in 1951, he took over management of First National Bank of Anchorage and became bank president. At the time, he may have been the youngest chief banker in the country.8 In 1950 the bank had four officers and forty- three employees, and had deposits of $20,500,000.9 His mother, Lucy Cuddy, became the chairwoman of the bank’s board of directors.

During Dan Cuddy’s long tenure as president of First National Bank of Anchorage,10 he influenced the major economic trends of Alaska. On March 27, 1964, a 9.2 earthquake struck southcentral Alaska, near the town us bank mobile login screen Valdez. The Alaska Earthquake inflected heavy damage on First National’s fifty-eight year old headquarters building. Cuddy announced a new building project to demonstrate “confidence in Alaska.” He became the first Alaska business leader to announce reconstruction plans after the earthquake. These included building eight additional floors of modern office space atop the Bank’s drive-in branch, adjacent to the original site of the bank at Fifth and G Street in downtown Anchorage. First National also placed additional funds into the reconstruction of quake areas across the state.11

On September 10, 1969, the State of Alaska conducted a well-publicized lease sale on 179 tracts of oil-rich land of North Slope lands at Prudhoe Bay. The proceeds amounted to more than $900 million, more than three times the annual state budget. Deposit checks of the sum were loaded into bags and flown by charter jet to New York City, chosen because of its location in the Eastern Time Zone allowing the money to gain an extra day’s interest for the state.  First National Bank aided by supervising the transaction.12

In 1982, Dan Cuddy became chairman of First National’s board of directors after his mother, Lucy, died. That same year, he stepped down as bank president. J.P. Pfeifer, formerly senior vice president of the bank’s Deposit and Loan Division, became the new president.13

End of the Alaska Economic Boom (1985-1986)

By 1986, Alaska’s economic bust had begun when oil prices crashed as consumers and industry conserved energy and moved toward lower priced fuels. Oil prices dropped in 1985, but fell much more in 1986, to one third of what they had been at the peak, when prices dropped to less than $10 per barrel. In 1982, the State of Alaska received 86.5 percent of its revenue from the oil industry. An economic recession hit Alaska as oil prices plunged, with Alaska’s unemployment rate averaging about eleven percent. Many Alaskans left for jobs Outside, with more than 11,000 residents leaving Anchorage alone.14

The economic downturn that struck Anchorage rocked but did not sink First National Bank. Dan Cuddy had felt that the economy had become overheated, particularly the oversupply of real estate, and maintained a conservative loan policy. In an interview with the Alaska Journal of Commerce in 2012, he said that the First National Bank had made calculated decisions to start pulling back from speculative lending a few years before the recession hit. Cuddy said: “We took a beating. We lost deposits. But on the other hand, we came out of the ‘80s still here.”15 A total of fourteen Anchorage banks and savings and loans were forced out of business because of bad loans.16

By the time Cuddy stepped down as president of the bank, its assets exceeded $3 billion dollars.17 In 2001, the bank adopted the name First National Bank Alaska to reflect its statewide focus through its many branches.

Civic and Community Service

Dan Cuddy received many awards from civic and industry organizations during his lifetime. In 1965 the Anchorage Chamber of Commerce gave him its Gold Pan award for individual achievement. He was named Alaskan of the Year in 2002. In 2006, the Anchorage Chamber of Commerce presented him with the William A. Egan Outstanding Alaskan Award. In 2007, the Armed Services YMCA of Alaska dedicated its Welcome Center on Elmendorf Air Force Base in his name. The Associated General Contractors of Alaska awarded him their Hard Hat Award in 2009 in recognition of the First National Bank’s support of building loans.18 In 2012, he was the recipient of the Shalom Peace Award for his military service as a member of one of the military units that liberated the Buchenwald concentration camp, and for his role in its final closure.19

Active in civic affairs, Cuddy was a member of the Anchorage Chamber of Commerce, Alaska State Chamber of Commerce, Alaska Bankers Association, Alaska Bar Association, Alaskan Command Civilian Advisory Board, and the Elks Club. He was a member of the boards of directors of the Alaska Rural Rehabilitation Corporation and the Petroleum Club of Anchorage. In 1958, he served as president of the Alaska South Chapter of the Association of the United States Army. In 1978, he was appointed Honorary Consul of the Netherlands for Alaska.20

The Municipality of Anchorage rededicated the Midtown Park as the Cuddy Family Midtown Park, near East 40 Avenue and A Street, in 2000. The Cuddy Family donated 9.5 acres of land and provided funding for construction of park amenities.21

Cuddy remained on the bank’s board of directors until his death in 2015. His daughter, Betsy Lawer, currently serves as First National Bank Alaska’s chair and president.

Daniel Hon Cuddy died on May 12, 2015 at the age of ninety-four. He was preceded in death by his wife, Betti Jane Cuddy (1924-2010).22 They are buried in the Masonic Tract of Anchorage Memorial Park Cemetery.

He is survived by his six children and their spouses, fourteen grandchildren and their spouses, and three great grandchildren.

Click an image to see more

Dan with his bride Betty Jane Puckett, a schoolteacher who grew up in Nebraska. They were married in 1948 and then came north to <a href=Microsoft 360 online login in spite of Betty’s reservations about living in Alaska.">
The large sign for the First National Bank of Anchorge is visible on the right hand side of the image. After the 1964 earthquake, Dan Cuddy caused the bank to be rebuilt, with additional stories, indicating his faith in Anchorage’s future.
Dan and Betty Cuddy in 1977, in the center of the image, facing the photographer. The man standing with his arm outstretched is U.S. Senator Ted Stevens; Mrs. Stevens has her back to the camera.

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Dan with his bride Betty Jane Puckett, a schoolteacher who grew up in Nebraska. They were married in 1948 and then came north to Alaska in spite of Betty’s reservations about living in Alaska.

Courtesy of the Cuddy family.

The large sign for the First National Bank of Anchorge is visible on the right hand side of the image. After the 1964 earthquake, Dan Cuddy caused the bank to be rebuilt, with additional stories, indicating his faith in Anchorage’s future.

B1989.6.159, Richard D. Huff Collection, Atwood Resource Center, Anchorage Museum at Rasmuson Center, Anchorage, AK.

Dan and Betty Cuddy in 1977, in the center of the image, facing the photographer. The man standing with his arm outstretched is U.S. Senator Ted Stevens; Mrs. Stevens has her back to the camera.

B1990.14.5.POL.4.678, Steve McCutcheon, photographer, McCutcheon Collection, Atwood Resource Center, Anchorage Museum how to add cash to paypal without credit card Rasmuson Center, Anchorage, AK.


Источник: https://www.alaskahistory.org/biographies/cuddy-daniel-dan-or-dh/
What often classifies as an "oddball stock" is simply a company that not many investors have an interest in truly investigating.  Typically these are stocks that are too small for most investors or companies where information is hard to obtain.  Another situation where stocks could be classified as oddballs is when they operate far off the beaten path.  In the US there is one place about as far off the beaten path as possible, Alaska.

Alaska is an enormous state filled with plenty of wildlife, mountains, oil, cold weather and hardy individuals.  The state is more than double the size of Texas.  If the state were a country it would be 33rd in terms of total size, or roughly double the size of Sweden.  The state is disconnected from the rest of the continental US.  An American needs to drive through Canada to access Alaska by land.

The exposure most Americans have to Alaska is a series of first national bank of alaska stock in the Discovery channel featuring "crazy" individuals who live off the land, drive trucks on ice, or mine for gold.  Alaska in many ways is still considered the frontier and isn't generally thought of as a business destination unless you're working in oil & gas, mining or something related to wildlife.

Even though Alaska isn't  a hot bed of business there are still people who live and work there who need loans and have money to deposit.  In general the state is overlooked, and I imagined their banks would be even more overlooked.  It turns out I was right.

The state has five bank headquartered there and three are publicly traded.  The banks headquartered in Alaska are shown below:

Outside of the five banks headquartered in the state Wells Fargo and KeyBank also branches in the state.  Statewide there are only 130 total bank branches with Wells Fargo claiming the most at 50.  Runner up in the branch count is First National Bank Alaska with 30 braches.  The other six alaskian banks all have 16 or less branches.


The easiest way to look at all of the banks in Alaska is to divide them up between the non-traded and traded banks and look at each.

Traded Banks

Here is a simple comparison showing the historical returns on equity for all three traded Alaskan banks from CompleteBankData.com(Bloomberg Terminal: APPS BANKS <GO>):


Alaska is set apart from the US and their banks appear to be as well.  All three are very healthy and avoided problems during the financial crisis.  Both Northrim and Denali Bancorporation are earning returns on equity first national bank of alaska stock the national average.  All three banks are profitable as well.  And lastly all three have more than 10% equity to assets with low to non-existent non-performing assets.

These are safe and profitable banks.  Is it any surprise that once an investor leaves the mainstream opportunities suddenly present themselves?

Northrim Bancorp (NRIM)

Northrim is a $1.4b bank headquartered in Anchorage, AK founded in 1990.  The bank recently purchase and integrated Alaska Pacific Bankshares (formerly AKPB).

The bank has $966m in loans with the majority of them lent to residential borrowers.  The bank has been profitable since 2003 and sailed through the financial crisis without any issues.  Their Tier 1 capital has remained above 10% since 2004 and non-current loans to loans peaked at 3.66% in 2008.

The bank trades for 1.11x TBV and 12.25 times earnings with a $167m market cap.  Shares are fairly liquid with about 15,000 trading daily.

Our CompleteBankData valuation model (available on the Bloomberg Terminal version) has the bank's estimated intrinsic value at $30.81 compared to the most recent close of $24.44.  The valuation model is shown below:


If Northrim were to be acquired, or to trade in line with the bank index multiples shares should trade higher.  Even without multiple expansion the bank looks attractive.  They are conservative but have been growing steadily over the past decade.  The bank's equity has more than doubled in a decade.

First National Bank Alaska (FBAK)

There is a stigma attached to companies whose stock price is over $100 a share.  An even greater stigma exists for companies with share prices higher than $1,000 per share.  First National Bank Alaska takes it a notch further with their $1,550 share price.

The company is publicly traded, but is closely held.  The bank is the largest of the Alaska banks with $3.3b in assets.  They trade for slightly more than book value and 15x earnings.  The bank has experienced loan and first national bank of alaska stock growth in the past three years as shown below (deposits in red, loans in blue):

According to our model the bank is considered fairly valued to slightly overvalued for both our acquisition valuation model and the dividend discount model.  If the bank is valued relative to banking index multiples they are undervalued by 13%.



The advantage that First National Bank Alaska has is that they are the largest bank in the state and they're growing.  Scale in banking matters a lot and First National Bank Alaska has built scale and a brand in their region.  They are consistently growing and pay a nice dividend.  If one wished to have some exposure to Alaska in general a single share of First National Bank Alaska might fit the bill.

Denali Bancorporation (DENI)

Denali Bancorporation is much smaller than the other two, but equally attractive.  The bank trades for slightly more than TBV and 13x earnings.

The bank has $266m in assets first national bank of alaska stock $133m in net loans.  They earned $1.86m this past year, or about $.68 per share.  They have an above average net interest margin and a 16% Tier 1 ratio.

The bank's assets appear to be in check outside of a curious line item in their last two financials.  The bank recorded 44% of 2014 Q3 and 68% of 2014 Q4 US Government guaranteed loans as non-current.  The bank doesn't have any government loans on their books.  This would indicate that the non-current usps office open today loans are most likely government backed bonds that have stopped paying interest.

Besides the small size of Denali Bancorporation and their inefficient operations (85% efficiency ratio) there isn't much to not like.  As you can see below they have never earned less than $1.2m in the past 11 years.


The bank has grown strongly over the past decade much like Northrim has.  The bank's size makes it an attractive acquisition target for a larger Alaska bank, or a bank that would like to enter the Alaska market.  Absent an acquisition investors own a nicely growing bank with an attractive dividend yield at 3.45%

Non-traded Banks

The state has two non-traded banks, First Bank, and Mt. McKinley Bank.  Both of these banks are less profitable compared to their public peers.  The reason for the lower profitability is both of these banks are overcapitalized with Mt. McKinley Bank coming in on top with a 39% Tier 1 ratio.

There isn't much to say about either of these banks.  Both are solid performers currently and have been historically.  Neither of these banks lost money during the financial crisis.

Mt McKinley Bank

The bank has $344m in assets and earned a 5.37% return on equity in the last year.  They've remained profitable since their start.  While they've been profitable they haven't experienced much growth.  Their equity has grown from $43m in 2006 to $73m today.  Total loans have fallen from $151m to $130m.  As loans have decreased security holdings have increased.  The bank owned $80m in securities in 2006 and owned $179m in securities at the end of 2014.

First Bank (First Bancorp)

The bank was founded in 1924 and prides itself on being locally owned and operated.  Their branches are located in Ketchikan and around Juneau.

They have $486m in assets and $215m in loans.  First Bank earned 7.34% on their equity.  The difference between Mt. McKinley's ROE and First Bank's ROE is that First Bank only has a 16% Tier 1 ratio compared to the monster 39% Tier 1 ratio that Mt. McKinley Bank has.

The bank could improve their operations some, their efficiency ratio stands at 82%.  Non-current loans to loans are under control at 1.24%.

Summary

A dive into Alaskan banks didn't turn up any banks trading for 25% of book value, which is unfortunate.  But what this exercise did turn up was a set of conservative and growing banks that avoided the housing crisis.  Investors might worry about the energy production drop harming Alaskan banks, or maybe a mining drop.  These are valid concerns, and there will always be dark clouds lurking first national bank of alaska stock any investment horizon.  Alaska is physically separated from the rest of the US and their banks appear to be separated as well.  On a relative basis all are undervalued and all have experienced growth in a flat no growth environment.  Alaskan bank shares might be the perfect investment to make and tuck away in a drawer for a few years.

Want to find more information on how to find and research bank equities on your Bloomberg Terminal with APPS BANKS <GO>?  We recently put together a short video with a walk through and posted it to YouTube first national bank of alaska stock Long DENI

Источник: http://www.oddballstocks.com/2015/04/a-banking-survey-of-alaska.html

The Best Banks to Work For — $3 billion to $10 billion of assets

The Best Banks to Work For with between $3 billion and $10 billion of assets are very focused on getting work done more efficiently.

The chief executives at the Best Banks in this size range highlighted the ways in which they rearranged responsibilities, cut out red tape or used technology to automate repetitive or tedious tasks.

One of the the priorities at Seacoast Bank, for example, is investing in the latest technology to stay competitive, while continuously looking for ways to streamline processes to make work easier, said its president and chief executive, Charles Shaffer.

The $9.3 billion-asset Seacoast in Stuart, Florida, has found that there is a side benefit to its tech focus when it comes to attracting new employees. "While it's certainly a competitive marketplace for talent, we find that our culture of innovation and improvement is an essential aspect of our recruiting efforts," First national bank of alaska stock said.

Origin Bank recently created a department that looks for areas where robotic process automation, or RPA, can create efficiencies and minimize manual tasks. The bank is targeting processes that have to be completed after hours, requiring employees to work outside the normal business day.

“RPA has given them valuable time back and promoted a better work-life balance,” said Drake Mills, president and CEO at the $7.2 billion-asset bank in Ruston, Louisiana.

Executives at these midsize banks also had plenty to say about providing leadership development and recognition for a job well done. And though they may have different approaches to getting results, one thing they have in common is a focus on continuing to improve. This typically entails seeking employee input and acting on it.

Consider Lakeland Bank in Oak Ridge, New Jersey, which tweaked its retention strategy based on what it heard from employees who chose to leave the bank.

After taking a closer look at rising turnover, Lakeland executives saw that it was concentrated in entry-level and consumer-facing positions. In exit interviews, those employees said they were leaving for better compensation, flexible working arrangements, or better career advancement opportunities.

The $7.8 billion-asset bank took several steps in response, including more flexible scheduling and adjustments to total compensation packages. Finally, it expanded its career advancement program, which has already yielded an increase in internal promotions during the first half of 2021.

Overall 90 banks earned a spot in the Best Banks to Work For ranking this year, with just 25 of them having between $3 billion and $10 billion of assets. Scroll through to see how these banks fared compared to their midsize peers and what they are up to in their quest to improve efficiency and employee engagement.

More Best Banks coverage:

Источник: https://www.americanbanker.com/list/the-best-banks-to-work-for-3-billion-to-10-billion-of-assets
first national bank of alaska stock

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