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Oct 03, 2001

Increased Earnings and Record Deposits at FNB

Continued loan demand, record deposits, and a favorable net interest
margin added up to $10.2 million in total earnings during third quarter 2001, reported D.H. Cuddy, chairman and president First National Bank Alaska. The figure represents a 16% increase over the same time last year when total earnings were $8.8 million.

According to Cuddy, third quarter earnings equaled $29.17 per share, up
from $24.28 per share for third quarter 2000. Outstanding loans reached $895 million, exceeding the same mark of the period last year by $127 million, when outstanding loans totaled $768 million. Total deposits reached an all time reported high at $1.05 billion, a $81 million increase over September 30, 2000, when deposits were $969 million. Assets grew to $1.78 billion.

Our employees have done an excellent job of identifying and
meeting the needs of Alaskans during the uncertainty of this years economy, said Cuddy.

Established in 1922, First National is Alaskas largest Alaskan-owned
and operated bank. This full-service commercial bank has 27 branches
throughout Alaska and ATMs in 17 rural communities.

 

Contact: Marketing Department, (907) 777-3409