First National Bank Alaska Releases Unaudited Results for 2nd Quarter 2016

ANCHORAGE, Alaska--()--First National Bank Alaska’s (OTCBB:FBAK) net income for second quarter was $10.1 million or $31.93 per share. This compares to $9.1 million or $28.41 per share for the same quarter in 2015. Net interest and loan fee income, after provision for loan losses, increased 6.4% on volume growth and yield improvements in earning assets. Noninterest income and expense increased 0.7% and 0.7%, respectively.

Balance sheet changes for the quarter ended June 30, 2016:

  • Total assets decreased by $7.7 million to $3.6 billion
  • Gross loans increased by $31.5 million to $1.6 billion
  • Deposits decreased by $12.6 million to $3.1 billion
  • Total shareholders’ equity increased $4.7 million to $512.3 million

Key performance ratios improved year to date through June 30, 2016 with Return on Assets at 1.13% and Return on Equity at 8.03%, compared with 1.02% and 7.06% as of June 30, 2015.

First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council as required of all banking institutions. Our latest Consolidated Report of Condition and Income (Call Report) was filed April 29, 2016 and is posted along with other financial reports for 2015 on our website www.FNBAlaska.com > About FNBA > Financial Reports.

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. Visit www.FNBAlaska.com for more information about Alaska's largest locally-owned bank and access to efficient and secure online banking services.

Contacts

First National Bank Alaska
Cheri Gillian, 907-777-3441
http://www.FNBAlaska.com

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