Alaska Pacific Bancshares Inc.

• Public
• US

Dow Jones Description

Alaska Pacific Bank opened for business in 1935 as Alaska Federal Savings and Loan Association, with the sole purpose of providing home loans to the residents of Juneau, Alaska. Founder Tom Morgan, operated the association inside the offices of his primary business, the Columbia Lumber Company, until moving into the first official office of the institution, which was located at 117 Seward Street. After years of steady growth, the association moved into a new headquarters building on Franklin Street in Juneau in 1961. This location met the needs of the company for more than twenty years; then in 1983 constructed the current location of Alaska Pacific Bank's largest branch and administrative offices on Jordan Avenue. Over the years, the company grew, adding offices around Southeast and South Central Alaska, continuing its focus on residential construction and home loans. However, an oil-driven recession of the mid-80s, which was a blow to the entire state's economy, resulted in the association closing its offices in the South Central region. The association continued to expand its operations throughout Southeast Alaska.. No longer limited to just savings accounts and home loans, the association started offering a competitive array of other accounts and services, including checking accounts and consumer and small business loans. The expansion of its product offering was accompanied by its name change to Alaska Federal Savings Bank in 1994. On July 1, 1999, Alaska Federal...

President & CEO

Number of Employees 65

Contact Information

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