Bank failure · AK

Alaska Continental Bank (Anchorage, AK) — failed August 3, 1988

Alaska Continental Bank of Anchorage, Alaska was closed on August 3, 1988 and resolved through a purchase and assumption. First Interstate Bank of (AK) took over its insured deposits. At failure it held $51.5M in assets and $52.3M in deposits. The FDIC's estimated loss on the failure is $20.5M (39.9% of assets).