Native American Bank expands services to Alaska
October 12, 2004
(Denver, CO) Native American Bank and Woodlands National Bank have formed a creative partnership to open a loan production office in Anchorage, Alaska.
"This is another step in the growth and evolution of Native American Bank as a major player in providing capital for development in Indian communities," said John Beirise, president of NAB, a tribally-owned and operated bank dedicated to pooling Native American resources to create wealth and opportunity for American Indians. NAB's group of original investors included two Alaska Native Corporations, the Sealaska Corp. of Juneau and Arctic Slope Regional Corp. (ASRC) of Barrow.
Lewis A. Anderson, President and CEO of Woodlands, owned by the Mille Lacs Band of Ojibwe Indians in Minnesota, is equally enthusiastic about the new venture. "This opportunity exists because no one in Alaska is solely dedicated to taking care of the Native American communities the way that we are. Our two banks will combine our strength and experience, together with the market knowledge of Marvin Adams to bring better financial services to the Alaska Native population."
Mr. Adams, Vice President of Business Development for NAB and a member of the Tlingit Indian Tribe near Juneau, Alaska, comes to the project with years of experience in the financial world, including a stint with the federal government, and a personal knowledge of Alaska Natives' needs.
"There are 229 tribes in Alaska and 160 were involved in the 1971 Alaska Land Claims Settlement Act (ANILCA) in which the United States settled Alaska Natives' land claims with 44 million acres of land and $1 billion. There's a lot of business up here, and the other bank executives and I share a vision of what this enterprise should be and what the potential is. This is a tremendous opportunity for us to serve a previously underserved Native American population."
The production office in Anchorage will offer commercial loans for projects such as construction of malls and other for-profit and non-profit business enterprises. "We expect to become a full-service bank in the near future," said Mr. Adams, "but for now we are not geared up to offer consumer products."
Mr. Beirise noted that NAB's history in Alaska has shown "Alaska to be a very productive market, with a significant amount of economic development and activity.
"We have found that we are most capable of serving our markets when we have a physical presence in the area and are able to build stronger and more personal relationships there."
Mr. Adams also stressed the importance of developing personal relationships in the banking world.
"This partnership should benefit both banks and the communities we serve," said Mr. Anderson.
The Anchorage office is located 1577 C St., Suite 105, Anchorage, Alaska 99501. The phone number is 907-646-1212.
Native American Bank's corporate offices are in Denver, Colorado, 999 18th Strees, Suite 2460, Denver, CO 80202; (303) 988-2727; fax: (303) 988-5533, and its principal banking office is located in Browning, Montana, 125 North Market Square, P.O. Box 730, Browning, MT 59417; (406) 338-7000; fax (406) 338-7008; toll free (800) 307-9199. A loan and deposit production office is located at Stone Child Community College on the Rocky Boy Reservation in Montana; phone (406) 395-4355.