Alaska Statebank became the state's first bank failure of the year when the Federal Deposit Insurance Corp. took it over at 6 p.m. Friday, closing time.

The FDIC arranged to have the failed bank's deposits and some of its assets transferred to a second Anchorage-based bank, Key Bank of Alaska, said Bill Olchecheski, an FDIC spokesman in Washington.A small army of FDIC officials took over Alaska Statebank Friday evening to transfer most assets to Key Bank but also to retain some assets for the FDIC to liquidate in order to recover some of the costs of the operation, Olcheski said.

Sixteen banks have failed and been closed so far this year in the United States, Olcheski said.