ALASKA CONTINENTAL BANK Failed 1988

What happened

ALASKA CONTINENTAL BANK of ANCHORAGE, AK was closed on 1988-08-03. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST INTERSTATE BANK OF (ANCHORAGE, AK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1848

FDIC Certificate

24139

FDIC FIN

2888

Bank name

ALASKA CONTINENTAL BANK

Location

ANCHORAGE, AK

Failure date

1988-08-03

FDIC resolution date

1988-08-03

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$21M

Deposits at failure

$52M

Assets at failure

$51M

Acquiring bank

FIRST INTERSTATE BANK OF (ANCHORAGE, AK)