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Alaska banks have solid 2020 start but face uncertain year

ANCHORAGE, Alaska ((Anchorage) Alaska Journal of Commerce) — Alaska’s banks had a solid start to 2020 but the remainder of the year is uncertain for them in what could be a tumultuous period as a result of the coronavirus pandemic. The Alaska Journal of Commerce reported First National Bank Alaska, Northrim Bank and Denali State Bank all had positive asset and income reports for the first quarter of the year. A Wells Fargo executive expects the state’s recovery to lag behind the rest of the country because Alaska’s economy is largely built on sectors that were hit the hardest, including oil and tourism.

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