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National Bank of Alaska (originally known as Bank of Alaska) was Alaska's largest financial institution for the latter part of the 20th century. In 2000, it was purchased by Wells Fargo, [1] giving the larger bank a presence in 23 states.
Bank of Alaska was founded in 1916 by Andrew Stevenson in Skagway, Alaska. [1] The bank's first headquarters were in the building previously occupied by the Canadian Imperial Bank of Commerce at Fifth and Broadway, but it soon built a new headquarters one block away at Sixth and Broadway, a building which has remained in the possession of the company and its successors to this day. [2] Bank of Alaska soon opened additional branches in Wrangell and Anchorage, which had just been named.
Edward Anton Rasmuson, who was hired in the first year as the bank's attorney, and his family and descendants long played central roles in the bank's governance. He assumed control in the financial turmoil following World War I, and by 1919, he was serving as the bank's president. His wife, Jenny Olson Rasmuson, sat on the board of directors. In 1945, the bank's headquarters were moved to Anchorage. Rasmuson died in 1949, and left the bank to his son, Elmer E. Rasmuson. [2]
In 1950, the bank adopted a national charter, becoming the National Bank of Alaska. A 1960 merger made National Bank of Alaska the largest bank in the state with 19 branches in six locations. Elmer Rasmuson also passed the business to his son, retiring in 1975. Edward Bernard Rasmuson became president and CEO. [1]
By 1978, National Bank of Alaska was operating 34 branches in 19 communities. In 1982, it was reorganized as a wholly owned subsidiary of bank holding company National Bancorp of Alaska. By 1983, its assets topped $1 billion, and by 1990, it owned about half of all bank assets in the state.
In December 1999, National Bancorp of Alaska agreed to a $907 million buyout by Wells Fargo & Co. [3] It had more than $3 billion in assets, and 53 National Bank of Alaska branches in 29 Alaskan communities, with an additional branch in Seattle, Washington. The acquisition transaction closed in 2000, and branches converted to the Wells Fargo brand in June 2001. Wells Fargo officials said the acquisition gave them the country's "most extensive banking franchise", with branches in 23 states. [4]
Bank One Corporation was the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004. The company had its headquarters in the Bank One Plaza in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division.
U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. It has 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. It is ranked 117th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.
M&T Bank Corporation is an American bank holding company headquartered in Buffalo, New York. It operates 780 branches in New York, New Jersey, Pennsylvania, Maryland, Delaware, Virginia, West Virginia, Washington, D.C., and Connecticut. M&T is ranked 462nd on the Fortune 500. Until May 1998, the bank's holding company was named First Empire State Corporation.
PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,945 branches and 9,051 ATMs. The company also provides financial services such as asset management, wealth management, estate planning, loan servicing, and information processing.
National City Corporation was a regional bank holding company based in Cleveland, Ohio, USA, founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National City Mortgage is credited for doing the first mortgage in America. The company operated through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, Florida, and Wisconsin, and also served customers in selected markets nationally. Its core businesses included commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management. The bank reached out to customers primarily through mass advertising and offered comprehensive banking services online. In its last years, the company was commonly known in the media by the abbreviated NatCity, with its investment banking arm even bearing the official name NatCity Investments.
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of June 2021, it is the 10th largest bank with $509 billion in assets. As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world with $2.27 billion in annual revenue.
TD Banknorth, formerly Banknorth, was a wholly owned subsidiary of the Toronto-Dominion Bank which conducted banking and insurance activities, primarily serving the northeastern area of the United States, headquartered in Portland, Maine. The bank became TD Bank, N.A. on May 31, 2008.
Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Evansville, Indiana. With assets at $23.0 billion and 162 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 100 banking companies in the U.S. Its primary banking footprint is in Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.
Elmer Edwin Rasmuson was an American banker, philanthropist and politician in the territory and state of Alaska. He led the family business, National Bank of Alaska, for many decades as president and later chairman. He also served as Mayor of Anchorage from 1964 to 1967 and was the Republican nominee for United States Senator from Alaska in the 1968 election, losing the general election to Mike Gravel.
This article outlines the history of Wells Fargo & Company from its merger with Norwest Corporation and beyond. The new company chose to retain the name of "Wells Fargo" and so this article is about the history after the merger.
First Interstate Bancorp was a bank holding company based in the United States that was taken over in 1996 by Wells Fargo. Headquartered in Los Angeles, it was the nation's eighth largest banking company.
First Niagara Bank was a Federal Deposit Insurance Corporation-insured regional banking corporation headquartered in Buffalo, New York. Its parent company, First Niagara Financial Group, Inc. was the 44th-largest bank in the United States with assets of over $37.1 billion as of June 30, 2013. Their slogan is "Do Great Things"
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that existed from 1853 to 2001. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
Hudson City Bancorp, Inc., based in Paramus, in the U.S. state of New Jersey, was a bank-holding company for Hudson City Savings Bank, its only subsidiary, then the largest savings bank in New Jersey and one of the oldest banks in the United States, with US$50 billion in assets. It is now a fully publicly held entity and a member S&P 500 stock market Index. In 2005, its US$3.93 billion secondary offering of common stock was the largest in United States banking history. At the time, it was also the seventh largest domestic public offering in United States history The bank avoided the excesses of the housing boom and was labeled "best bank of 2007" by Forbes. M&T Bank agreed to acquire Hudson City on August 27, 2012.
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California, operational headquarters in Manhattan, and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board.
Rockland Trust is a commercial bank based in Rockland, Massachusetts that serves Southeastern Massachusetts, Coastal Massachusetts, Cape Cod, and Boston's MetroWest. Established in 1907 as Rockland Trust Company. A wholly owned subsidiary of Independent Bank Corp., by October 2016, Rockland Trust had $7.5 billion in assets and employed around 1,000 people.
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.
First Financial Bancorp is a regional bank headquartered in Cincinnati, Ohio, with its operations centers in the northern Cincinnati suburb of Springdale, and Greensburg, Indiana. Founded in 1863, First Financial has the sixth oldest national bank charter and has 110 locations in Ohio, Kentucky, and throughout Indiana. First Financial acquired Irwin Financial Corp and its subsidiaries through a government assisted transaction on September 18, 2009.
First Bank System was a Minneapolis, Minnesota-based regional bank holding company that operated from 1864 to 1997. What was once First Bank forms the core of today's U.S. Bancorp; First Bank merged with the old U.S. Bancorp in 1997 and took the U.S. Bancorp name.
Norwest Corporation was a banking and financial services company based in Minneapolis, Minnesota, United States. In 1998, it merged with Wells Fargo & Co. and since that time has traded under the Wells Fargo name.
