Meeting Your Needs
Meeting Your Financial Needs in the Last Frontier and Beyond
FIRST NATIONAL'S LENDING EXPERTS HELP ALASKANS EXPAND BUSINESSES OUTSIDE THE STATE
A real estate investor needs financing to help purchase a commercial property in a Southwest state. A contractor looks to build a new apartment complex in the Pacific Northwest.
These types of projects are happening in the Lower 48, and are examples of how First National Bank Alaska works alongside customers to meet their needs in and out of the state.
For nearly a century, First National Bank Alaska has proudly provided its fellow Alaskans banking solutions in their local communities and elsewhere.
“Historically, we’ve set out to make good loans,” First National President Doug Longacre said. “Nothing has changed in that philosophy. But in today’s global economy, the road map our customers use has evolved to include markets outside Alaska.
“Because we know our customers and their industries, we like to find ways to help customers achieve their goals wherever their business takes them.”
Experience Customers Can Count On
First National Vice President Zac Hays worked closely with an Alaska-based land developer interested in commercial property in the Southwest portion of the country.
“The popular real estate saying goes ‘location, location, location,’” Hays said. “When banks look to finance big projects, they’ve often taken the same mentality. First National bankers want to be able to put their hands in the dirt and see what it is the bank is investing in.
“But because the world has changed so dramatically and business is conducted all over the place, we’ve amended our way of thinking. We build trusting relationships with customers so we’re confident in helping them grow their ideas and their business.”
Hays said it’s important customers know they can count on bankers like him and other First National experts to listen to their ideas.
“Our ability to listen and know what a business is trying to accomplish benefits us all,” Hays said. “I enjoy being a banker each one of my customers can count on.”
Banking Locally, Acting Globally
First National will always take pride in its local banking presence. Since 1922, the bank’s experts have set out daily to build strong relationships with customers and customize financial solutions to best meet their needs.
“We’re never going to stray away from doing right by our fellow Alaskans,” said Executive Vice President Charlie Weimer. “Today, that means we continue to bank locally but, on occasion, act globally.
“Our customers are involved in projects outside of our great state. They’re making those investments in real estate, technology, you name it. We’re interested in working alongside them, offering up our decades of skill and experience, plus support they can trust.”
Talk With First National First
Historically, First National is well-known and respected for the ability to meet the real estate lending needs of customers in Alaska. The genesis of a successful loan project is the relationship built between the bank’s lending experts and each individual customer.
While appraisals and regular site visits offer bankers a bird’s eye view connected to an investment, the strength of each relationship has allowed First National to comfortably break from the norm of lending only in Alaska.
“Work we’ve done with these customers in our state builds a level of trust we know they count on,” Longacre said. “The important thing is Alaskans coming to talk with us first.”
Decades of Experience
FIRST NATIONAL’S SENIOR LOAN COMMITTEE MAKES THE DIFFERENCE FOR CUSTOMERS
When First National Bank Alaska Vice President Zac Hays’ customer approached him about a financing plan to purchase a large commercial real estate property in the suburbs of Phoenix, Ariz., little did the customer know how quickly Hays and his fellow bankers would get the job done.
“We were able to close the loan in a matter of weeks and are working to do the same with a second loan in a relatively short amount of time,” Hays said. “It’s been my experience that few financial institutions can turn around customized financing of that size that fast.
“It’s a true sign of the First National difference.”
Today's Global Economy
Like many Alaska-based businesses working to succeed in today’s global economy, Hays’ customer is based in Anchorage but has looked to expand holdings and interests into markets outside the state. This often means talking with banks positioned near both the home office and where those properties are located.
Yet when it’s your company’s time to talk financing for that out-of-Alaska project, consider talking to First National. As the state’s largest, locally owned bank, First National has helped Alaska entrepreneurs flourish for nearly a century.
Financing decisions made by the bank’s Senior Loan Committee happen in a timely manner. A First National staple for decades, the committee meets three times a week.
“I’m proud to say the bankers who sit on our Senior Loan Committee have decades and decades of experience,” First National President Doug Longacre said. “I’d like to think our depth of knowledge is unparalleled.
“Not only do we make decisions locally, we do so in a way that helps structure loans that are most beneficial to our customers.”
Few know what’s going on in the 49th state better than First National’s banking experts. But as economic times and trends in Alaska have changed and fluctuated, those same experts have familiarized themselves with markets elsewhere.
“We know the Pacific Northwest,” Longacre said.
“We visit the Seattle area regularly and take the time to know what’s happening in Oregon and other locations in the West. No matter where their business takes them, we want to help our customers succeed.”
As the bank’s Alaska-based customers have diversified, the Senior Loan Committee has adjusted accordingly.
“We’re no longer looking to exclusively do business in our backyard,” Hays said. “Yes, bankers historically like to ‘put their hands in the dirt’ and see those properties in which they’re investing up close.
“But this is where the importance of relationship building comes in. We can ask the right questions to get a better feel for a property thousands of miles away.”
Go Where Business Takes You
Senior Loan Committee discussions and the decisions ultimately made by these banking professionals with decades of expertise are based on one simple fact: First National will always strive to do what’s best for its customers.
“It all comes down to us wanting to make good loans with the great customers we’ve known so well throughout the years,” Longacre said. “Certainly, we can’t say every proposal involving an Outside property is going to work. But we want Alaskans to know we’re here to talk.
“Start with us first. We’re ready to discuss going wherever your business takes you.”
Local Banking Experts
Come Talk With Us When It's Time to Refinance Your Commercial Loan
In Alaska and beyond, there are many opportunities for successful acquisitions and growth.
Talking with one of First National Bank Alaska’s lending experts is the best way to move your business in the right direction. They’re ready, willing and prepared to meet your individual needs and present customized loan programs.
Have you entered into a loan with a regional lender Outside? Is your Commercial Mortgage Backed Securities (CMBS) loan, also known as a conduit loan, coming up on a maturity?
Whatever the case, take the time to talk with a First National banking expert about options available to help your business grow and prosper.
Here’s some other types of business loans to consider:
- Short-term working capital: Loans to supplement a business cash flow due to delays in the collection of accounts receivables or sale of inventory.
- Revolving lines of credit: Loans that serve as an extended commitment from the bank to provide working capital for your business. The types of assets securing the line will in part determine the terms of the loan.
- Equipment and vehicle: Loans used to purchase new or used commercial equipment and vehicles.
- Commercial real estate: Loans for the purchase, refi nance or rehabilitation of various types of commercial real estate.
- Commercial construction and development: Loans for the construction of commercial-use properties or for the development of land for commercial use.