UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report......February 17, 1999
National Bancorp of Alaska, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-10769 92-0087646
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Northern Lights Boulevard and C Street, Anchorage, AK 99503
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(Address of principal executive offices) (Zip Code)
(907) 276-1132
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(Registrant's telephone number, including area code
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Item 5. Other Events
Press Release
FOR IMMEDIATE RELEASE CONTACT: Elaine Junge, APR
DATE: February 17, 1999 (907) 265-2771
Majority National Bancorp of Alaska Shareholder Donates
$90 Million of Stock to Charitable Entities
(Anchorage, AK) -- Elmer E. Rasmuson, former chairman of the board of
National Bancorp of Alaska (NBAK), announced a gift of $90 million in NBAK
stock to two Alaska organizations at his 90th birthday celebration Monday.
Rasmuson will donate $50 million of stock to the Anchorage Museum Foundation
and $40 million of stock to the Rasmuson Foundation.
"I feel that we have an obligation to pay back," said Elmer Rasmuson.
"Our state has boundless needs and yet such a limited population that I feel
strongly that those of us who are able should step up to the plate. It is my
hope that the $50 million contribution to expand the Anchorage Museum will
stimulate support from federal, state, municipal, corporate and individual
sources. Similarly, I hope that the $40 million contribution to the Rasmuson
Foundation will also stimulate additional giving."
The $90 million in stock transfers will be completed during 1999. The
contributions will reduce the number of shares controlled by Rasmuson below the
51.3 percent that he currently owns or has voting power over.
(more)
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Add One -- National Bancorp of Alaska
In a separate action, the board of directors of National Bancorp of
Alaska, at the February 16 board meeting, approved a revision to the by-laws of
the holding company eliminating the prior limit of a maximum of 25 directors.
The change will will allow the board of directors to set the number of
directors each year.
"The change will allow for expansion of the board to recognize the growth
in Alaska and better represent a cross-section of the population," said
Chairman Edward B. Rasmuson.
National Bancorp of Alaska is the holding company that owns all the
shares of the National Bank of Alaska. NBA is one of the highest capitalized
banks in the United States. Its stock trading symbol is NBAK.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL BANCORP OF ALASKA, INC.
February 17, 1999 /s/Gary Dalton
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Date Gary Dalton,Executive Vice
President and Controller
(Pricipal Accounting Officer)
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