Unaudited results announced for first quarter 2016
First National Bank Alaska’s (FBAK) net income for first quarter was $10.0 million or $31.55 per share. This compares to $7.8 million or $24.35 per share for the same quarter in 2015. Net interest and loan fee income after provision for loan losses increased 11.6% on earning asset volume growth and yield improvements. Noninterest income and expense decreased 1.4% and 3.8%, respectively, primarily driven by lower bankcard income and a corresponding reduction in related bankcard expenses.
Balance sheet changes for the quarter ended March 31, 2016:
* Total assets grew $47.5 million to $3.6 billion
* Gross loans increased by $11.7 million to $1.6 billion
* Deposits grew by $18.1 million to $3.1 billion
* Total shareholders’ equity increased $19.1 million to $507.6 million
First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council as required of all banking institutions. The bank’s latest Consolidated Report of Condition and Income (Call Report) was filed January 30, 2016 and is posted along with other financial reports for 2015 on our website https://www.fnbalaska.com/about-fnba/financial-rep....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.
Contact: Marketing Department, (907) 777-3409