First National Bank Alaska’s (FBAK) net income for third quarter was $11.8 million or $37.25 per share. This compares to $9.9 million or $31.12 per share for the same quarter in 2015. Net interest and loan fee income after provision for loan losses increased 5.7% on volume growth and yield improvements in earning assets. Noninterest income increased 13.3% and noninterest expense decreased 3.4%. Return on Assets improved to 1.19% and Return on Equity improved to 8.42%, as compared to 1.06% and 7.42%, respectively, as of September 30, 2015.
Balance sheet changes for the quarter ended September 30, 2016:
Total assets increased by $56.6 million to $3.67 billion
Gross loans increased by $22.0 million to $1.62 billion
Deposits increased by $52.8 million to $3.13 billion
Total shareholders’ equity increased $6.8 million to $519.1 million
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 July 29, 2016 and is posted along with other financial reports 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.
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