SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                 -------------

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported)       December 21, 1999
                                                 -------------------------------


                        National Bancorp of Alaska, Inc.
--------------------------------------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)


            Delaware                       0-10769              92-0087646
--------------------------------------------------------------------------------
   (State or Other Jurisdiction          (Commission          (IRS Employer
         of Incorporation)               File Number)     Identification Number)


   Northern Lights Boulevard and C Street, Anchorage, AK            99503
--------------------------------------------------------------------------------
         (Address of Principal Executive Office)                  (Zip Code)


Registrant's telephone number, including area code        907/276-1132
                                                   -----------------------------


                                       N/A
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

<PAGE>

ITEM 5. OTHER EVENTS.

         On December  21,  1999,  National  Bancorp of Alaska,  Inc., a Delaware
corporation ("NBAK"),  and Wells Fargo & Company, a Delaware corporation ("Wells
Fargo"),  announced  that they have  signed a letter of intent  (the  "Letter of
Intent") for the merger of NBAK and Wells Fargo.

         The  Letter  of  Intent  is  subject  to the  parties  entering  into a
definitive agreement.  If a definitive agreement is signed, NBAK will merge with
Wells Fargo (the  "Merger").  The acquisition is expected to be completed in the
second  quarter  of 2000.  The  Merger  is  subject  to the  approval  of NBAK's
shareholders  and of banking  regulators.  The Letter of Intent  contemplates  a
tax-free exchange of Wells Fargo common stock for the stock of NBAK shareholders
valued  at  $30  per  share  of  NBAK  stock,  for a  total  purchase  price  of
approximately $907 million.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

                  (a) Not Applicable.

                  (b) Not Applicable.

                  (c) Exhibits.

         The following exhibits are filed with this Current Report on Form 8-K:

Exhibit
Number            Description
------            -----------

99.1              Press release, dated December 21, 1999.


<PAGE>



                                    SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         NATIONAL BANCORP OF ALASKA, INC.


                                         By:  /s/ Edward B. Rasmuson
                                              ----------------------------------
                                              Name: Edward B. Rasmuson
                                              Title: Chairman of the Board
                                                          of Directors


Date:  December 22, 1999





<PAGE>



                                  EXHIBIT INDEX

99.1              Press release, dated December 21, 1999.
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3778}]
{"company-data": {"conformed-name": "NATIONAL BANCORP OF ALASKA INC", "cik": "0000705356", "assigned-sic": "6021", "irs-number": "920087646", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-10769", "film-number": "99779293"}, "business-address": {"street1": "301 NORTHERN LIGHTS BLVD C ST", "street2": "P O BOX 100600", "city": "ANCHORAGE", "state": "AK", "zip": "99503", "phone": "9072761132"}, "mail-address": {"street1": "301 W NORTHERN LIGHTS", "street2": "P O BOX 100600 CONTROLLERS DEPT", "city": "ANCHORAGE", "state": "AK", "zip": "99510-0600"}}
SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                 -------------

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)       December 21, 1999
                                                 -------------------------------

                        National Bancorp of Alaska, Inc.
--------------------------------------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)

            Delaware                       0-10769              92-0087646
--------------------------------------------------------------------------------
   (State or Other Jurisdiction          (Commission          (IRS Employer
         of Incorporation)               File Number)     Identification Number)

   Northern Lights Boulevard and C Street, Anchorage, AK            99503
--------------------------------------------------------------------------------
         (Address of Principal Executive Office)                  (Zip Code)

Registrant's telephone number, including area code        907/276-1132
                                                   -----------------------------

                                       N/A
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS.

         On December  21,  1999,  National  Bancorp of Alaska,  Inc., a Delaware
corporation ("NBAK"),  and Wells Fargo & Company, a Delaware corporation ("Wells
Fargo"),  announced  that they have  signed a letter of intent  (the  "Letter of
Intent") for the merger of NBAK and Wells Fargo.

         The  Letter  of  Intent  is  subject  to the  parties  entering  into a
definitive agreement.  If a definitive agreement is signed, NBAK will merge with
Wells Fargo (the  "Merger").  The acquisition is expected to be completed in the
second  quarter  of 2000.  The  Merger  is  subject  to the  approval  of NBAK's
shareholders  and of banking  regulators.  The Letter of Intent  contemplates  a
tax-free exchange of Wells Fargo common stock for the stock of NBAK shareholders
valued  at  $30  per  share  of  NBAK  stock,  for a  total  purchase  price  of
approximately $907 million.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

                  (a) Not Applicable.

                  (b) Not Applicable.

                  (c) Exhibits.

         The following exhibits are filed with this Current Report on Form 8-K:

Exhibit
Number            Description
------            -----------

99.1              Press release, dated December 21, 1999.
SIGNATURE

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         NATIONAL BANCORP OF ALASKA, INC.

                                         By:  /s/ Edward B. Rasmuson
                                              ----------------------------------
                                              Name: Edward B. Rasmuson
                                              Title: Chairman of the Board
                                                          of Directors

Date:  December 22, 1999
EXHIBIT INDEX

99.1              Press release, dated December 21, 1999.