Data / Bank failures / 1987 / First Interstate Bank of Alaska
First Interstate Bank of Alaska, Anchorage, AK: failed December 11, 1987
First Interstate Bank of Alaska in Anchorage, Alaska, failed on December 11, 1987. National Bank of Alaska of Anchorage, AK, took over its deposits. It held $367.7 million in assets and $358.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $104.4 million (28.4% of its assets). By assets it was the 14th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- December 11, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- National Bank of Alaska, Anchorage, AK
- Total assets
- $367,655,000
- Total deposits
- $358,945,000
- Estimated cost to the FDIC
- $104,385,601 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 17334
Other bank failures in Alaska, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Alliance Bank | Anchorage | April 21, 1989 | $779 million | $797.2 million | $75.9 million | National Bank of Alaska |
| Home Savings Bank | Anchorage | March 2, 1989 | $91.5 million | $82.7 million | $63.2 million | Security Pacific Bank Ak, N |
| First Federal Bank of Alaska | Anchorage | March 2, 1989 | $137.6 million | $192.3 million | $134 million | First NB of Anchorage |
| Alaska Statebank | Anchorage | February 3, 1989 | $90.8 million | $96.9 million | $17.3 million | Key Bank of Alaska |
| Alaska Continental Bank | Anchorage | August 3, 1988 | $51.5 million | $52.3 million | $20.5 million | First Interstate Bank of |
| United Bank Alaska (assistance) | Anchorage | January 28, 1988 | $314.3 million | $368.3 million | $170.7 million | Alliance Bank |
| Alaska Mutual Bank (assistance) | Anchorage | January 28, 1988 | $1.18 billion | $924.8 million | $170.7 million | National Bank of Alaska |
| Alaska National Bank of the North | Fairbanks | October 22, 1987 | $203.1 million | $200.2 million | $34.3 million | National Bank of Alaska |
Other failed banks National Bank of Alaska took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Alliance Bank | Anchorage | AK | April 21, 1989 | $779 million | $797.2 million | $75.9 million | National Bank of Alaska |
| Alaska Mutual Bank (assistance) | Anchorage | AK | January 28, 1988 | $1.18 billion | $924.8 million | $170.7 million | National Bank of Alaska |
| Alaska National Bank of the North | Fairbanks | AK | October 22, 1987 | $203.1 million | $200.2 million | $34.3 million | National Bank of Alaska |
All bank failures in 1987 · All bank failures in Alaska · Every failed bank National Bank of Alaska took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.