First National Bank Alaska announces unaudited results for second quarter 2026
Rhea-AI Summary
First National Bank Alaska (OTCQX:FBAK) reported unaudited second-quarter 2026 net income of $20.8 million, or $6.58 per share, up from $18.4 million, or $5.80 per share, in Q2 2025. Return on assets rose to 1.65% and return on equity to 14.56%.
According to First National Bank Alaska, total assets reached $5.1 billion, loans $2.8 billion, and deposits and repurchase agreements $4.5 billion as of June 30, 2026. Net interest margin increased to 4.01%, while the efficiency ratio improved to 49.48%. Nonperforming loans were $13.2 million, or 0.47% of loans, with an allowance for credit losses of $22.4 million (0.79% of loans). Shareholders’ equity grew to $585.2 million, book value per share to $184.79, and the Tier 1 leverage ratio stood at 11.95%, above well-capitalized standards.
Positive
- Net income $20.8M, up from $18.4M in Q2 2025
- EPS $6.58, increased from $5.80 year over year
- Net interest margin 4.01%, up from 3.69% a year ago
- Loans $2.82B, up $230.8M versus June 30, 2025
- Assets $5.12B, up $200M year over year
- Shareholders’ equity $585.2M, up from $550.1M year over year
- Book value per share $184.79, up from $173.71 a year ago
- Return on equity 14.56%, improved from 13.53% in Q2 2025
- Tier 1 leverage ratio 11.95%, above 5.00% well-capitalized minimum
Negative
- Noninterest expense $28.6M, up $1.5M or 5.5% year over year
- Provision for credit losses $1.2M, higher than $0.6M in Q2 2025
- Nonperforming loans $13.2M, higher than $9.8M a year earlier
- Net income $20.8M, slightly below $21.2M in Q1 2026
AI-generated analysis. How Rhea-AI works. Not financial advice.
ANCHORAGE, Alaska, Aug. 04, 2026 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the second quarter of 2026 was
“Our second quarter results reinforce we’re executing the right strategies for long-term success,” said First National Board Chair and CEO/President Betsy Lawer. “Year-over-year improvements in return on assets along with continued growth in loans, deposits and net income reflect our focus on sound financial stewardship. Through the clear vision of the bank’s Board of Directors, management team and efforts of more than 600 employees, we remain focused on creating lasting value for our shareholders while strengthening the communities we proudly serve.”
Assets totaled
Loans totaled
Interest and fees on loans in the second quarter totaled
Deposits and repurchase agreements totaled
Net interest margin increased to
The efficiency ratio for June 30, 2026, was
Noninterest operating income for the second quarter of 2026 was
Noninterest expenses for the second quarter of 2026 rose by
Shareholders’ equity was
Alaska’s community bank since 1922, First National Bank Alaska proudly meets the financial needs of Alaskans with ATMs and 28 locations in 19 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world.
For more than a century, the bank has been committed to supporting the communities it serves. In 2024, for the eighth consecutive reporting period, over a span of twenty-four years, First National received an Outstanding Community Reinvestment Act performance rating from the Office of the Comptroller of the Currency.
In 2026, for the second year in a row, Forbes selected First National as one of America’s Best Banks, ranking the bank as the second-top in the nation. Newsweek recognized the bank as one of the nation’s 2026 Best Regional Banks and Credit Unions for the second year in a row. In 2025, American Banker recognized First National as a “Best Bank to Work For” for the eighth year in a row. The bank was also voted “Best of Alaska” in the Anchorage Daily News awards, ranking as one of the top three in the Bank/Financial category for the seventh consecutive year.
First National Bank Alaska is a Member FDIC, Equal Housing Lender, and is recognized as a Minority Depository Institution by the Office of the Comptroller of the Currency, as it is majority-owned by women.
Contact Corporate Communications
907-777-3409
| Financial Overview (Unaudited) | Quarter Ended ($ in thousands) | ||||||||||||||
| 6/30/2026 | 3/31/2026 | 12/31/2025 | 9/30/2025 | 6/30/2025 | |||||||||||
| Balance Sheet | |||||||||||||||
| Total Assets | $ | 5,123,849 | $ | 5,083,974 | $ | 5,099,945 | $ | 5,243,993 | $ | 4,923,803 | |||||
| Total Securities | $ | 1,826,916 | $ | 1,861,127 | $ | 1,989,022 | $ | 2,002,118 | $ | 1,859,645 | |||||
| Total Loans | $ | 2,822,468 | $ | 2,810,797 | $ | 2,711,964 | $ | 2,590,699 | $ | 2,591,713 | |||||
| Total Deposits | $ | 3,685,246 | $ | 3,710,395 | $ | 3,734,714 | $ | 3,808,022 | $ | 3,586,204 | |||||
| Repurchase Agreements | $ | 784,819 | $ | 738,789 | $ | 739,103 | $ | 804,589 | $ | 731,808 | |||||
| Total Deposits and Repurchase Agreements | $ | 4,470,065 | $ | 4,449,184 | $ | 4,473,817 | $ | 4,612,611 | $ | 4,318,012 | |||||
| Unrealized Loss (Gain) on Marketable Securities, Net of Tax | $ | (25,191 | ) | $ | (25,812 | ) | $ | (24,502 | ) | $ | (31,296 | ) | $ | (40,193 | ) |
| Total Shareholders' Equity | $ | 585,216 | $ | 576,437 | $ | 569,246 | $ | 567,724 | $ | 550,135 | |||||
| Income Statement | |||||||||||||||
| Interest and Fees on Loans | $ | 46,407 | $ | 45,111 | $ | 44,730 | $ | 44,116 | $ | 43,212 | |||||
| Interest and Dividends on Investment Securities | $ | 13,259 | $ | 12,882 | $ | 14,451 | $ | 12,229 | $ | 10,818 | |||||
| Interest on Cash and Cash Equivalents | $ | 2,059 | $ | 1,937 | $ | 3,828 | $ | 4,381 | $ | 2,969 | |||||
| Total Interest and Loan Fee Income | $ | 61,725 | $ | 59,930 | $ | 63,009 | $ | 60,726 | $ | 56,999 | |||||
| Total Interest Expense | $ | 11,469 | $ | 10,948 | $ | 11,853 | $ | 12,155 | $ | 11,842 | |||||
| Provision (Benefit) for Credit Losses | $ | 1,203 | $ | (274 | ) | $ | 2,209 | $ | 436 | $ | 631 | ||||
| Total Noninterest Operating Income | $ | 7,432 | $ | 6,981 | $ | 7,203 | $ | 7,596 | $ | 7,363 | |||||
| Net Loss (Gain) on Investment Securities | $ | - | $ | (48 | ) | $ | - | $ | - | $ | - | ||||
| Total Noninterest Expense | $ | 28,568 | $ | 27,883 | $ | 29,725 | $ | 26,802 | $ | 27,083 | |||||
| Provision for Income Taxes | $ | 7,092 | $ | 7,137 | $ | 6,362 | $ | 7,570 | $ | 6,423 | |||||
| Net Income | $ | 20,825 | $ | 21,169 | $ | 20,063 | $ | 21,359 | $ | 18,383 | |||||
| Earnings per Common Share | $ | 6.58 | $ | 6.68 | $ | 6.33 | $ | 6.75 | $ | 5.80 | |||||
| Dividend per Common Share | $ | 4.00 | $ | 4.00 | $ | 8.00 | $ | 4.00 | $ | 4.00 | |||||
| Financial Measures | |||||||||||||||
| Return on Assets | 1.65 | % | 1.67 | % | 1.53 | % | 1.53 | % | 1.46 | % | |||||
| Return on Equity | 14.56 | % | 14.78 | % | 14.16 | % | 14.13 | % | 13.53 | % | |||||
| Net Interest Margin | 4.01 | % | 3.98 | % | 3.82 | % | 3.76 | % | 3.69 | % | |||||
| Interest Income to Average Earning Assets | 4.91 | % | 4.87 | % | 4.78 | % | 4.74 | % | 4.67 | % | |||||
| Interest Expense to Average Earning Assets | 0.90 | % | 0.89 | % | 0.96 | % | 0.98 | % | 0.98 | % | |||||
| Efficiency Ratio | 49.48 | % | 49.81 | % | 49.86 | % | 49.52 | % | 50.58 | % | |||||
| Capital | |||||||||||||||
| Shareholders' Equity/Total Assets | 11.42 | % | 11.34 | % | 11.16 | % | 10.83 | % | 11.17 | % | |||||
| Tier 1 Leverage Ratio | 11.95 | % | 11.90 | % | 11.27 | % | 11.70 | % | 11.95 | % | |||||
| Regulatory Well Capitalized Minimum Ratio - Tier 1 Leverage Ratio | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | |||||
| Tier 1 (Core) Capital | $ | 610,407 | $ | 602,249 | $ | 593,748 | $ | 599,020 | $ | 590,328 | |||||
| Credit Quality | |||||||||||||||
| Nonperforming Loans | $ | 13,175 | $ | 12,209 | $ | 10,636 | $ | 10,847 | $ | 9,802 | |||||
| Nonperforming Loans/Total Loans | 0.47 | % | 0.43 | % | 0.39 | % | 0.42 | % | 0.38 | % | |||||
| Nonperforming Loans/Tier 1 Capital | 2.16 | % | 2.03 | % | 1.79 | % | 1.81 | % | 1.66 | % | |||||
| Allowance for Credit Losses | $ | 22,400 | $ | 21,400 | $ | 21,450 | $ | 20,100 | $ | 20,025 | |||||
| Allowance for Credit Losses/Total Loans | 0.79 | % | 0.76 | % | 0.79 | % | 0.78 | % | 0.77 | % | |||||
| Net interest margin, yields, and efficiency ratios are tax effected. | |||||||||||||||
| Financial measures are year-to-date. | |||||||||||||||
| Per common share amounts are not in thousands. | |||||||||||||||
