KeyBank plans Soldotna branch

Posted: Monday, October 16, 2000

Central Kenai Peninsula residents will have another choice in banking once KeyBank opens a branch in Soldotna.

Michael Burns, KeyBank Alaska district president, said the exact location for the new branch has yet to be determined. However, his company is negotiating for space at the Peninsula Center Mall. Pending regulatory approval, he said he hopes to open the Soldotna branch early next year.

KeyBank, an affiliate of Cleveland-based KeyCorp, already employs eight people at its branch in Kenai. The new Soldotna branch will employ about seven people, including several positions shared with the Kenai branch, said Gary Koch, KeyBank senior vice president in Anchorage.

"We'll end up with a total of 11 to 13 positions on the peninsula," he said.

He said KeyBank already has $31.5 million in peninsula deposits and $24.1 million in peninsula loans.

"We've been very successful in Kenai. Behind Anchorage, Fair-banks and Juneau, that is our largest operation," Burns said. "We think it's logical to expand to the other part of that market."

The Soldotna branch will take deposits and offer small business and consumer loans, he said. Through KeyCorp, its clients will have access to cash and investment management, investment banking and private banking services.

"The new KeyCenter will be staffed with local people, Kenai-Soldotna-area residents familiar with the community," Burns said. "The fact that we are part of a corporation like KeyCorp means we will offer state-of-the-art financial products and services, including online banking."

KeyCorp has assets of roughly $84 billion, facilities in 46 states, a network of more than 2,500 ATMs, a Web site and 24-hour telephone banking centers.

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