News and Press Releases

Jun 21, 2001

FNB One of the Safest Institutions in the U.S.

First National Bank is the safest bank in Alaska, according to one of Americas prime sources of bank quality ratings.

The bank recently became the only financial institution in Alaska to be awarded a 300 the highest possible score by IDC Financial Publishing, Inc. Out of 8,281 banks reviewed, First National was one of only 290 with a 300 rating, placing it in the top 3.5 percent nationwide.

This rank indicates one of the safest institutions in the United States, notes IDC in its Bank Financial Quarterly: Fourth Quarter 2000 Report. Banks rated Superior are simply the best by all measures.

The top rating comes on the heels of an A+ grade again, the only such rating in the state from Weiss Ratings, Inc., another respected source of bank quality ratings.

IDCs ratings are based on 35 key financial indicators, including the quality of a banks loan portfolio, its Return-on-Equity/Cost-of-Equity ratio and the percentage of its net operating revenues consumed by operating expenses.

IDC rates approximately 28,000 institutions quarterly, including all banks, bank holding companies, thrifts and credit unions that report to the federal government. Its rankings are used by Fannie Mae, Freddie Mac, Ginny Mae, the Federal Home Loan Banks and many state and municipal agencies.

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

 

Contact: Marketing Department, (907) 777-3409