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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......March 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: March 16, 1999 (907) 265-2771, or
Terry Kipp, (907) 265-2932
National Bancorp of Alaska Announces Investment Gains
and Quarterly Cash Dividend
(Anchorage, AK) -- At its March shareholders' meeting, National Bancorp of
Alaska Chairman Ed Rasmuson announced that management anticipates a $9 million
pre-tax gain from a limited partnership investment during the second quarter of
1999. This will benefit net income for the year by an estimated $5 million for
the year.
"Over the past 10 years, we have invested in a variety of limited
partnerships with sophisticated investment management firms," Rasmuson said.
"At year-end 1998, National Bancorp of Alaska's investment in limited
partnerships totalled $71.4 million. These limited partnerships have terms of
five to 10 years, with prospective returns that we could not achieve through
our daily banking practices. Like banks across the nation, NBA continues to
look for non-interest sources of income."
At its March board meeting, the National Bancorp of Alaska board of
directors approved its regular quarterly cash dividend of 15 cents per share,
according to board chairman Edward B. Rasmuson. The dividend is payable April
9, 1999 to shareholders of record on April 2, 1999.
(more)
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Add One -- National Bancorp of Alaska
National Bancorp of Alaska is the holding company that owns all of the
shares of National Bank of Alaska. NBA is one of the highest capitalized banks
in the United States and is a NASD listed stock under the ticker symbol NBAK.
Its web site is www.nationalbankofalaska.com.
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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.
March 17, 1999 /s/Gary Dalton
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Date Gary Dalton,Executive Vice
President and Controller
(Pricipal Accounting Officer)
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