Alaska's publicly traded companies making strides: banks, communications companies, adding to state's economy.

"We'll also continue to develop new and innovative communication technologies throughout Alaska. Much of what we're working on will bring 'gee-whiz' technologies into Alaskans' homes."

--Ron Duncan President/CEO General Communication Inc.

Alaska's publicly traded companies are among the state's largest employers, providing important contributions to the state's economy. This article provides a brief, alphabetized snapshot of each company's operations. Unless otherwise noted, assets and revenues/net income are quoted in thousands for the quarterly period ending March 31, 2006. All quoted stock prices and market capitalization (total value of the company's stock) is relevant to June 1, 2006.

Alaska Communications Systems Group Inc. provides integrated telecommunications services to individuals, businesses and wholesale customers throughout Alaska. During the first quarter of 2006, revenue increased 6.8 percent to $82.6 million from $77.4 million in first quarter 2005. Significant strides have also been made concerning debt, said David Wilson, ACS senior vice president and chief financial officer. "We reduced the debt by approximately $88 million and reduced the cost of the debt by about 2 percentage points down to about 6.4 percent," he said.

The company has experienced much of its growth in the wireless market, with first quarter 2006 revenue up 43.7 percent to a record $24.5 million. This year, ACS will spend millions of dollars to continue building out its wireless network. ACS also will be providing data services, such as broadband, in major metropolitan areas around the state. "By the time we're through, we will have covered about 80 percent of the population," Wilson said.

The company is constantly searching for ways to leverage its wireless capabilities. A prime example is ACS Unlimited Mobile Broadband, which provides wireless Internet access throughout the coverage area using the ACS Wireless Aircard. With the ACS Wireless Aircard inserted into their laptops, customers won't have to search for a 'hot spot.' ACS has soft-launched the service on the business side and will roll it out to other segments soon.

ACS also offers business customers a wireless pocket PC that lets users e-mail, surf the Web and even work on Word documents and PowerPoint presentations at high speeds. ACS also is looking to provide a mobile phone that, among other things, will allow people to download TV programs at up to 2.4 megabits per second.

"Given our data capabilities, the quality of our wireless network and the ongoing expansion of our wireless footprint, we really are the best company to service Alaskans' wireless needs," Wilson said.

Company: Alaska Communications Systems Group Inc.

Headquarters: Anchorage 

Year Founded: 1998

Stock Symbol: ALSK

Stock Price: $12.48

Market Capitalization: 523.57M

Total Revenues: 82,642

Total Assets: 550,057

Employees: 1,020

Alaska Pacific Bancshares Inc. operates as the holding company for Alaska Pacific Bank that provides financial services in Southeast Alaska. With offices in Juneau, Ketchikan and Sitka, Alaska Pacific Bank offers solutions ranging from checking and savings accounts to a variety of loan products.

"The bank's lending programs are tailored to meet the unique demands of operating in Alaska, said Craig E. Dahl, president and chief executive officer of Alaska Pacific Bancshares Inc. "Because of our relatively small size, we are able to respond quickly to borrowers' requests."

Since going public in 1999, the bank has grown its assets by more than 31 percent in a regional market that has had minimal growth over the same period of time, Dahl said, and he anticipates continued growth for the bank.

"The region's economy, while notably flat in recent years, appears to be postured for growth and we would expect the bank to continue its success in competing for our share of existing and new business," he said.

Major developments at the bank include the January closing of its Hoonah and Yakutat branches. The bank is also undertaking a major renovation of its Juneau headquarters. "This extensive project is intended to provide our customers and employees a refreshed work environment that focuses on customer privacy, service and technology," Dahl said.

Dahl attributes the bank's achievements to its dedicated staff. And, he said, the bank's relatively small size, along with being headquartered in Juneau, ensures that its products, services and policies are responsive and flexible to meet its market's needs. "Unlike the very large super-regional banks, whose polices are relatively inflexible and established in other parts of the country, we're able to quickly adapt to local conditions," he added.

Company: Alaska Pacific Bancshares Inc.

Headquarters: Juneau

Year Founded: 1935

Stock Symbol: AKPBE.OB (previously AKPB)

Stock Price: $21.25

Market Capitalization: 13.35M

Net Income: 125,000 (Exact figure. Earnings were net of $113,000 ($68,000 net of tax) of costs for closing its two smallest offices in January.)

Total Assets: 171,628

Employees: 65

With an 85-year history, First National Bank Alaska is the state's largest bank based upon asset and deposit size as of March 31, 2006. The full-service commercial bank provides a full spectrum of financial solutions. Currently, banking services are provided from 29 branches in 16 Alaska communities.

First National's financial condition is reflective of Alaska's economy--strong, said Jason L. Roth, senior vice president. For first quarter 2006, net income for the bank was $9.9 million, up $2 million when compared to the same time last year. Outstanding loans increased $60 million over the same time last year.

Much of the bank's success is due to its ability to improve margins and contain costs. "We took the majority of our loan portfolio, and tied them to the market floating rate, and they have adjusted to the market," Roth explained. "That was very painful when rates were dropping-although good for our customers. But it's allowed us to match our funding costs with our ability to earn a return on a loan."

First National is focusing on sustainable revenue growth by retaining and growing existing customer relationships and acquiring new customers. "We are also investing in new resources, technology, and marketing and leveraging our knowledge of Alaska," said Roth. The bank's electronic check-processing service fits right into that strategy. The service lets customers submit check images to the bank, rather than paper checks. The service, which will be especially beneficial in Alaska, where distance and weather can be an issue, should be fully available in Alaska's major metropolitan areas by the end of the year.

In the meantime, the bank is celebrating the April opening of its newest branch in Glennallen. It's the first branch the bank has added in a new community in 20 years. "We think the population available to us through Glennallen is a real unique opportunity," Roth said. "We look forward to growing success in that region."

Company: First National Bank Alaska

Headquarters: Anchorage

Year Founded: 1922

Stock Symbol: FBAK.OB

Stock Price: $2,100

Market Capitalization: 722.40M

Net Income: 9,876

Total Assets: 2,211,850

Employees: 740

General Communication Inc. and its subsidiaries provide local and long-distance voice, cable video, data, and Internet communications services to residential and business customers in 175 Alaska communities. "Bob Walp and I started the company 27 years ago in an Anchorage apartment," said Ron Duncan, GCI president and chief executive officer. "Today, we have more than 1,250 employees that we serve throughout the state using our fiber optic, satellite and coaxial network."

GCI is financially sound and growing well, according to Duncan. "This year, Wall Street is expecting GCI to have revenues of more than $450 million, net income in the range of $18 million to $20 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of more than $150 million," he said.

For the past 10 years, GCI has seen continuous growth in both revenue and EBITDA, Duncan said, and he expects those trends to continue. "Our net income has been consistently positive as well," he added. "We are generating significant cash in excess of the amounts that we reinvest in new facilities, and we are using that cash to repurchase some of our stock."

GCI strives to differentiate itself in the marketplace by its flexibility, creativity and dedicated focus on Alaska customers, Duncan said. For example, GCI offers extended installation and repair hours. "We'll install your cable or phone service up until 9 p.m. on weekdays or 6 p.m. on the weekend," he explained. "Being there when it's convenient for our customers, rather than making our customers be there when it's convenient for us, is just one way we try to meet consumers' needs."

GCI is planning to extend local phone companies to all 20 communities where it provides cable service by the end of next year, Duncan said. "We'll also continue to develop new and innovative communication technologies throughout Alaska," he added. "Much of what we're working on will bring 'gee-whiz' technologies into Alaskans' homes."

Company: General Communications Inc.

Location: Anchorage

Year Founded: 1979

Stock Symbol: GNCMA

Stock Price: $13.11

Market Capitalization: 718.13M

Total Revenues: 112,822

Total Assets: 871,430

Employees: 1,260

Northrim Bank is the third-largest bank in Alaska, with 12 percent of Alaska's commercial bank deposits, and 20 percent of deposits in Anchorage, according to Marc Langland, president, chairman and chief executive officer. "Northrim's core banking business has grown in 15 short years from $8 million in starting capital, a single branch, and 25 employees to a company with $895 million in assets, 10 branches in three communities, and 272 employees," Langland said.

Northrim provides a range of commercial banking services to businesses, professionals, and individuals in South central and Interior Alaska. Loans comprise three-fourths of its assets, with commercial loans accounting for 73 percent of the company's loan growth last year.

Langland feels that Northrim's reputation and the experience of its staff have allowed the bank to compete favorably for lending relationships. "We have a solid group of commercial lenders who know the market and know their customers," he added. "And as Alaska's economy grows, we expect our loan volume to continue to grow."

Over the years, Northrim has taken advantage of opportunities to diversify its revenues and provide additional services through targeted acquisitions of companies providing investment advisory, mortgage, employee benefits and wealth management services. "We continue to see opportunities for additional market share acquisition, however, more of our future growth will come from general economic growth in Alaska and from our investment in new products, services and branch facilities," Langland said.

Currently, the bank is searching for potential new branch sites to expand its coverage. "We will be moving our Jewel Lake Branch from the Carr's grocery store to a freestanding facility this fall to give our West Anchorage customers more privacy and the convenience of a drive-up facility," Langland explained.

The bank has also selected an additional branch site in Fairbanks. "It will be located in northeast Fairbanks in an area that has seen significant retail development in recent years," he said. "We expect that location to be operational late next year."

Company: Northrim BanCorp Inc.

Headquarters: Anchorage

Year Founded: 1990

Stock Symbol: NRIM 

Stock Price: $25.11

Market Capitalization: 145.54M

Total Revenues: 17,569

Total Assets: 866,086

Employees: 270