Unaudited results announced for third quarter 2015
First National Bank Alaska’s (FBAK) net income for third quarter 2015 was $9.9 million or $31.12 per share. This compares to $9.3 million or $29.01 per share for the same quarter in 2014. Net interest and loan fee income before provision for loan losses increased 11.0% on volume growth and improvements in yield on earning assets. Noninterest income decreased 11.4% primarily due to anticipated lower bankcard income. An anticipated reduction in bankcard related expense helped to hold to 4.4% an increase in operating expense driven by an increase in overall salary and benefit expense.
Balance sheet changes for the quarter ended September 30, 2015:
- Total assets increased $279.4 million to $3.64 billion
- Gross loans remained at $1.48 billion
- All deposits increased by $267.1 million to $3.14 billion
- Total shareholders’ equity increased $11.4 million to $493.3 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 June 30, 2015 and is posted along with other financial reports for 2015 on our website www.FNBAlaska.com > About FNBA > Financial Reports. The third quarter 2015 report will be filed September 30, 2015 and posted on the website shortly thereafter.
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: Cheri Gillian (907) 777-3441
Contact: Marketing Department, (907) 777-3409