ANCHORAGE, Alaska–(BUSINESS WIRE)–First National Bank Alaska’s (OTCQX:FBAK) unaudited net income for first
quarter 2019 was $13.5 million, or $4.27 per share. This compares to net
income of $13.2 million, or $4.15 per share for the same period in 2018.
Net interest and loan fee income for first quarter 2019 was $32.9
million, increasing 3.6% from first quarter 2018. This increase was
favorably affected by rising yields on earning assets and continued low
provision for loan losses attributed to the high-quality loan portfolio.
Return on assets was 1.45% and return on equity was 10.56%, decreasing
from 1.46% and 10.69%, respectively, during the same period in 2018. The
efficiency ratio improved to 52.17% compared to 53.06% during the same
period in 2018.
Balance sheet changes for the quarter ended March 31, 2018:
- Total assets decreased $46.7 million to $3.71 billion
- Gross loans increased by $31.2 million to $1.97 billion
-
Deposits and repurchase agreements decreased $63.2 million to $3.17
billion - Total shareholders’ equity increased $11.9 million to $518.72 million
First National Bank Alaska files a quarterly financial report with the
Federal Financial Institution Examination Council. Our latest
Consolidated Report of Condition and Income (Call Report) was filed
April 30, 2019, and is posted at www.FNBAlaska.com
> Financial Reports and at www.OTCMarketc.com.
Alaskan-owned and -operated since 1922, First National proudly meets the
financial needs of Alaskans with ATMs and branches in 18 communities
throughout the state, and by providing banking services to meet their
needs across the nation and around the world. In 2018, Alaska Business
readers voted the bank the “Best of Alaska Business” in the Best Place
to Work category for the third year in a row and as best Corporate
Citizen for the second, and American Banker recognized First
National as a “Best Bank to Work For”. In January 2018, MSN.com named
First National the most admired company in the state. In October 2018,
First National received the Rita Sholton Large Business of the Year
Award from the Alaska Chamber.
Visit FNBAlaska.com
for more information about Alaska’s largest locally-owned bank and
access to efficient and secure online banking services. First National
Bank Alaska is a Member FDIC and Equal Housing Lender.
Contacts
Cheri Gillian, 777-3409
http://www.FNBAlaska.com
