New CEO for First National Bank Alaska
Photo Credit: First National Bank Alaska
For the first time in more than thirty years, the presidency of First National Bank Alaska will be held by someone outside of the Cuddy family. Darren Franz is promoted to President and CEO as part of a long-term succession plan that sees Betsy Lawer step away from those leadership roles, instead becoming Executive Chair of the Board of Directors, effective January 2, 2027.
Franz has been president of the bank’s Lending Division since 2024, when he was promoted from Senior Executive Officer and Chief Credit Officer. He was also placed on the board of directors at that time. He oversaw the Corporate Lending Division, the Combined Branch and Corporate Services Division, Treasury Management, Anchorage Branch Administration and Escrow Division, and the Central Administration Division.
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November 2026
Franz earned a bachelor’s degree in finance and economics and is a graduate of Pacific Coast Banking School. During his decades-long banking career, Franz has successfully overseen the management of retail and business banking in sixteen Alaska communities with broad geographic, economic, and cultural diversity.
Franz takes over for Lawer after she spent more than a decade as President and CEO. She took on the role from her brother, David Cuddy. Their father, Dan “D.H.” Cuddy, had been president from 1951 to 1982, inheriting the position from his father, Warren N. Cuddy, who bought a controlling interest in First National Bank of Anchorage in 1941, nineteen years after it was founded by Winfield Ervin. Franz is the first to lead the company from outside of the family since J.P. Pfeifer, who was president from 1982 to 1992 while D.H. Cuddy chaired the board of directors.
During Lawer’s tenure, First National has grown from $3.5 billion in assets to more than $5.1 billion, earned national recognition as Forbes’ second-ranked bank in the nation and recognized as Alaska’s Best Place to Work for eleven consecutive years by Alaska Business readers.
“Leadership is never about one person. It’s about building an organization with the right people, shared values and the courage to look beyond today,” says Lawer. “I am deeply proud of everything our remarkable employees, executive team, and Board of Directors have achieved together. I am confident the team is ready for their next step and excited about what lies ahead for First National.”
