# ALASKA CONTINENTAL BANK

> **Failed bank** · ANCHORAGE, AK · failed 1988-08-03 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $21M

## What happened

ALASKA CONTINENTAL BANK of ANCHORAGE, AK was closed by regulators 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
- **Estimated FDIC DIF cost:** $21M
- **Deposits at failure:** $52M
- **Assets at failure:** $51M
- **Acquiring bank:** FIRST INTERSTATE BANK OF (ANCHORAGE, AK)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=ALASKA%20CONTINENTAL%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, ALASKA CONTINENTAL BANK (FDIC ID 1848), failed 1988-08-03. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/1848.

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