Business Briefs

Posted: Thursday, February 27, 2003

Friendly Planet starts scholarship

JUNEAU - Friendly Planet Trading Co. of Juneau has announced the creation of an annual scholarship at the University of Alaska Southeast.

"It was important to our company to invest in the future of Juneau, and we felt that establishing a long-term commitment to UAS was an excellent foundation to build upon," said Richmond Kelly, director of international relations at Friendly Planet Trading.

The downtown shop, which opened in August, sells handcrafted items from around the world.

Juniors and seniors at UAS can apply for the $500 scholarship, which focuses on students with voluntary or paid experience in using environmentally and socially responsible practices.

"The scholarship will grow with our company, and by 2005 we estimate our contribution to the award to be around $2,000 annually," Kelly said.

Anyone can make tax-deductible contributions to the fund, said Lynne Johnson, director of development and university relations at UAS.

"The Friendly Planet Scholarship Fund was created to invest in and involve the Juneau community," she said.

Investing in each community Friendly Planet partners with is part of the company's mission statement, Kelly said.

New label designed for Alaskan Amber

JUNEAU - The Alaskan Brewing Co. has designed a new label for its flagship Alaskan Amber bottle.

The label, which has more vivid colors, a larger font for the name and a more detailed image of a boat, will be available throughout the Pacific Northwest in late February, said marketing manager Cindy Burchfield.

In addition to being on individual bottles, the new label will be on six-packs, 12-packs and cases of Alaskan Amber.

Alaskan Amber was the Alaskan Brewing Co.'s first year-round product when the brewery opened in 1986. It has won several awards at national beer festivals.

Alaska Pacific Bancshares earnings up

JUNEAU - Juneau-based Alaska Pacific Bancshares Inc., the parent company of Alaska Pacific Bank, announced record earnings for the fourth quarter of 2002.

The company, which went public in July 1999, had a net income of $972,000, which amounted to $1.61 per diluted share, last quarter. Earnings for the year were $1.777 million - $2.98 per diluted share.

The earnings reflect an income tax benefit of $592,000 in 2002 that resulted from the company's net operating losses carried forward from prior years. Even without the tax benefit, the bank earned $1.18 million in 2002 - more than twice what it earned in 2001.

Management at Alaska Pacific Bank believes 2002 will be the last year the bank will receive the tax benefit.

Assets for the bank totaled $154.34 million in 2002, compared to $111.19 million at the end of 2001.

The bank paid a regular quarterly dividend of 6 cents per share Feb. 21.

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