Elmer E. Rasmuson
Elmer Edwin Rasmuson | |
|---|---|
| Born | Template:Birth date Yakutat, Alaska, U.S. |
| Died | December 1, 2000 (aged 91) Seattle, Washington, U.S. |
| Occupation(s) | Banker, philanthropist, politician |
| Known for | President and chairman of National Bank of Alaska; Mayor of Anchorage (1964–1967); Republican candidate for U.S. Senate from Alaska (1968) |
Elmer Edwin Rasmuson (February 15, 1909 – December 1, 2000) was a prominent American figure in banking, philanthropy, and politics within Alaska. For many years, he served as president and chairman of the family-run National Bank of Alaska. Additionally, Rasmuson held the office of Mayor of Anchorage between 1964 and 1967 and was the Republican candidate for the United States Senator seat from Alaska in the 1968 election, where he was defeated by Mike Gravel.
Early life
Elmer was born in Yakutat, Alaska to Edward Anton Rasmuson and Jenny Olson Rasmuson, who were missionaries originally from Sweden. He had an elder sister named Evangeline. After a brief relocation to Minneapolis in 1915, his father transitioned into law and magistracy before the family returned to Alaska.
Rasmuson attended Skagway School during his youth and gained early experience at the National Bank of Alaska, which his father had purchased in 1918. He completed his secondary education at Queen Anne High School in Seattle in 1925. Subsequently, he enrolled at the University of Washington before transferring to Harvard University, where he earned a Bachelor of Science degree in 1930 and later a Master’s degree in 1935.
Family and work
Following employment with Arthur Andersen, Elmer married Lile Bernard in 1939; together they had three children: Edward Bernard, Lile Gibbons, and Judy.
In 1940, Andersen assigned him to Houston, where his primary client was Texaco. He returned to Alaska in 1943 to take over as president of National Bank of Alaska due to his father’s failing health. The bank’s headquarters were moved to Anchorage in 1945. After Edward Anton Rasmuson's death in 1949, Elmer inherited control of the bank.
In collaboration with his brother-in-law Robert Atwood in 1954, Elmer invested in Richfield Oil’s exploration efforts on the Kenai Peninsula. Their investment yielded substantial returns following the discovery of oil near Swanson River in 1957.
Together with his mother, Elmer established the Rasmuson Foundation in 1955, which grew to become Alaska’s leading private philanthropic organization.
Lile passed away from cancer in 1960; that same year, National Bank of Alaska merged with another institution to become the largest bank in the state. In 1961, Elmer remarried Mary Louise Milligan, who had previously served as national director of the Women's Army Corps.
He was honored with the Golden Plate Award from the American Academy of Achievement in 1972.
Political career and legacy
Rasmuson criticized the government’s handling of the aftermath of the Good Friday earthquake in 1964. Subsequently, he was elected Mayor of Anchorage, where he served a three-year term focused on rebuilding efforts for the city. In 1967, he founded the Anchorage Historical and Fine Arts Museum as part of commemorations marking the centennial anniversary of the Purchase of Alaska.
In the 1968 election cycle, Rasmuson secured victory in the Republican primary for U.S. Senate by defeating Ted Stevens, but was ultimately defeated by Democrat Mike Gravel in the general election. The incumbent Senator Ernest Gruening, who lost his party nomination to Gravel, finished third.
He concluded his service as Regent of the University of Alaska Fairbanks—a position he held since 1950—in 1969. The following year saw dedication of the Elmer E. Rasmuson Library in his honor.
Rasmuson retired from leadership at National Bank of Alaska in 1974, passing control to his son Edward B. Rasmuson.
In 1980, he became inaugural chairman of the Board of Trustees for the newly created Alaska Permanent Fund, a role he fulfilled until 1982.
Elmer E. Rasmuson passed away on December 1, 2000, at his home in Seattle due to congestive heart failure. His philanthropic contributions included bequests totaling $419 million—$19 million designated for the University of Alaska Fairbanks and $400 million allocated to the Rasmuson Foundation—solidifying his enduring influence on Alaska’s economic growth and cultural enrichment.