ANCHORAGE, Alaska -- Wells Fargo & Co. completed its merger with National Bancorp of Alaska.
In a press release Monday, the company said each outstanding National Bancorp common share will be exchanged for 0.896303 Well Fargo common shares. Shareholders approved the merger on June 8, and the bank received regulatory approval on June 21.
National Bancorp of Alaska is a holding company that owns National Bank of Alaska, which operated 50 branches, three loan offices and about 60 ATMs as of February. Wells Fargo, a bank holding company with $222.28 billion in assets, operates 2,900 branches in 23 states.