Unaudited preliminary results announced for second quarter
First National Bank Alaska reported second quarter net income of $10.1 million or $30.28 per share according to Chief Financial Officer Jason Roth. This compares to $11.5 million and $33.46 per share respectively reported for the same quarter in 2008.
Year to date net income of $19.6 million or $58.58 per share compares with $24.0 million or $69.69 per share through six months of 2008.
The current earnings are impacted by increases in the provision for loan losses as well as the absence of nonrecurring gains related to equity positions in VISA and MasterCard shares in 2008, which were significant.
Established in 1922, First National is Alaska’s largest Alaskan-owned and operated bank, with ATMs and 30 branches in 18 Alaska communities.
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