GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
Savings accounts are geared toward everyday savings, young savers and those who carry high balances.
Because of its offerings, GOBankingRates named it one of theBest Banks in Alaska for 2025.
First Bank of Alaska serves the southeast region of Alaska.
The bank has nine branches in six cities.
The bank also offers car, boat, RV, commercial real estate and equipment loans.
Enjoy low opening deposits and the opportunity to earn interest with Income Checking.
Some checking accounts require a valid email address.
First Premium Savings is a standard account that helps everyday savers with funds.
The account can be used for overdraft protection.
Ideal for those who can meet the $2,500 minimum balance requirement to waive fees.
But some may find the $2,500 minimum deposit too expensive to open an account.
Banking Experience
First Bank of Alaska is the local bank of Southeast Alaska.
The bank blends traditional banking and a digital platform.
First Bank of Alaska has several financial products, including personal accounts, business accounts and loans.
The bank also offers time deposits.
Better Business Bureaugives First Bank of Alaska an A- rating.
There is a record on BBB that First Bank of Alaska failed to respond to one complaint.
Comparable Banking Options
Heres how First Bank of Alaska compares to other financial institutions.
Wells Fargo also offers a checking account with a bonus for first-time account holders.
FIrst Bank of Alaska is a regional bank located in Alaska.
The bank offers personal and business checking, as well as loan products.
The bank doesnt offer any promotions regarding checking accounts and lacks Wells Fargos presence nationwide.
First Bank of Alaska vs.
Ally Bank
Ally Bankis a fully online bank offering a competitive, high-yield savings account with aAPY.
This APY is higher than the rate offered by First Bank of Alaska.
Also, Ally Bank has over 70,000 ATMs across the country.
Ally Bank caters to those who prefer online banking and want competitive rates on financial products.
This savings account has no monthly maintenance fee.
If youre looking for services tailored to services within Alaska, First Bank of Alaska is a better choice.
The bank also offers loans on mortgages, boats and vehicles.
Loans also include commercial real estate and equipment loans.
There is a wide variety of checking accounts, including two fully electronic checking accounts.
The savings accounts are geared toward young savers and those with high balances.
you might open a money market account or make a time deposit for additional savings.
All factors were then scored and combined, with the lowest score being the best.
All products and offerings had to be available as of Nov. 8, 2024, to be considered.
Rates are subject to change; unless otherwise noted, rates are updated periodically.
All other information on accounts is accurate as ofDec.
Rates are subject to change; unless otherwise noted, rates are updated periodically.
All other information on accounts is accurate as of Dec. 19, 2024.
