First National Bank Alaska announces unaudited results for second quarter 2025
Rhea-AI Summary
First National Bank Alaska (OTCQX:FBAK) reported strong Q2 2025 financial results with net income of $18.4 million, or $5.80 per share, up from $15.6 million ($4.94 per share) in Q2 2024. The bank achieved a Return on Assets of 1.46% and an improved net interest margin of 3.69%.
Total loans reached $2.6 billion, increasing by $200.1 million year-over-year. The bank maintained strong asset quality with nonperforming loans at 0.38% of outstanding loans. Total assets were $4.9 billion, with shareholders' equity increasing to $550.1 million from $485.2 million in the previous year. The bank's efficiency ratio improved to 50.58%, outperforming both Alaska and national peer groups.
The bank's Tier 1 leverage capital ratio of 11.95% remains well above regulatory requirements, while book value per share increased to $173.71 from $153.20 year-over-year.
Positive
- Net income increased to $18.4 million from $15.6 million year-over-year
- Return on Assets improved to 1.46%, showing five consecutive quarters of growth
- Net interest margin expanded significantly to 3.69% from 2.98%
- Loan portfolio grew by $200.1 million year-over-year
- Shareholders' equity increased by $64.9 million to $550.1 million
- Strong efficiency ratio of 50.58%, better than peer groups
- Book value per share grew to $173.71 from $153.20
Negative
- Nonperforming loans increased by $5.1 million year-over-year
- Provision for credit losses increased to $2.2 million from $1.3 million
- Total assets decreased by $192.3 million compared to June 2024
- Noninterest expenses increased $1.4 million due to rising healthcare costs
News Market Reaction 1 Alert
On the day this news was published, FBAK declined 2.81%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ANCHORAGE, Alaska, Aug. 08, 2025 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the second quarter of 2025 was
“Return on Assets is
Loans totaled
Total interest and loan fee income in the second quarter was
Assets totaled
Total interest expense for the second quarter was
Noninterest operating income for second quarter 2025 was
Shareholders’ equity was
ABOUT FIRST NATIONAL BANK ALASKA
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 2025, Alaska Business readers voted First National “Best of Alaska Business” in the Best Place to Work category for the 10th year in a row, Best Bank/Credit Union for the fifth time, and Best Customer Service for the second year in a row. That year, Forbes also selected First National as the sixth best bank on their America’s Best Banks list and one of the top two Banks in the State, and Newsweek recognized the bank as one of the nation’s Best Regional Banks and Credit Unions. The bank was also voted “Best of Alaska” in 2024 in the Anchorage Daily News awards, ranking as one of the top three in the Bank/Financial category for the sixth year in a row. American Banker again recognized First National as a “Best Bank to Work For” in 2024, for the seventh consecutive year.
First National Bank Alaska is a Member FDIC, Equal Housing Lender, and 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) | |||||||||||||||
| 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | 6/30/2024 | ||||||||||||
| Balance Sheet | ||||||||||||||||
| Total Assets | $ | 4,923,803 | $ | 4,890,081 | $ | 4,997,767 | $ | 5,557,306 | $ | 5,116,066 | ||||||
| Total Securities | $ | 1,859,645 | $ | 1,882,332 | $ | 1,928,625 | $ | 2,602,519 | $ | 2,197,788 | ||||||
| Total Loans | $ | 2,591,713 | $ | 2,607,081 | $ | 2,469,935 | $ | 2,445,596 | $ | 2,391,593 | ||||||
| Total Deposits | $ | 3,586,204 | $ | 3,580,147 | $ | 3,679,155 | $ | 3,728,181 | $ | 3,698,631 | ||||||
| Repurchase Agreements | $ | 731,808 | $ | 716,908 | $ | 743,193 | $ | 647,043 | $ | 615,096 | ||||||
| Total Deposits and Repurchase Agreements | $ | 4,318,012 | $ | 4,297,055 | $ | 4,422,348 | $ | 4,375,224 | $ | 4,313,727 | ||||||
| Total Borrowing under the Federal Reserve Bank Term Funding Program | $ | - | $ | - | $ | - | $ | 249,868 | $ | 249,868 | ||||||
| Unrealized Loss on Marketable Securities, Net of Tax | $ | (40,193 | ) | $ | (49,465 | ) | $ | (62,985 | ) | $ | (52,020 | ) | $ | (86,857 | ) | |
| Total Shareholders' Equity | $ | 550,135 | $ | 535,148 | $ | 516,562 | $ | 527,864 | $ | 485,167 | ||||||
| Income Statement | ||||||||||||||||
| Total Interest and Loan Fee Income | $ | 56,999 | $ | 55,863 | $ | 63,262 | $ | 64,421 | $ | 56,593 | ||||||
| Total Interest Expense | $ | 11,842 | $ | 11,956 | $ | 18,591 | $ | 21,319 | $ | 16,521 | ||||||
| Provision for Credit Losses | $ | 631 | $ | 1,535 | $ | (118 | ) | $ | (432 | ) | $ | 318 | ||||
| Total Noninterest Operating Income | $ | 7,363 | $ | 6,910 | $ | 7,178 | $ | 7,487 | $ | 7,361 | ||||||
| Net Gains on Investment Securities | $ | - | $ | - | $ | 10 | $ | - | $ | 208 | ||||||
| Total Noninterest Expense | $ | 27,083 | $ | 25,334 | $ | 27,696 | $ | 25,928 | $ | 25,637 | ||||||
| Provision for Income Taxes | $ | 6,423 | $ | 6,214 | $ | 4,350 | $ | 7,099 | $ | 6,039 | ||||||
| Net Income | $ | 18,383 | $ | 17,734 | $ | 19,931 | $ | 17,994 | $ | 15,647 | ||||||
| Earnings per Common Share | $ | 5.80 | $ | 5.60 | $ | 6.29 | $ | 5.68 | $ | 4.94 | ||||||
| Dividend per Common Share | $ | 4.00 | $ | 4.00 | $ | 6.40 | $ | 3.20 | $ | 3.20 | ||||||
| Financial Measures | ||||||||||||||||
| Return on Assets | 1.46 | % | 1.42 | % | 1.22 | % | 1.15 | % | 1.08 | % | ||||||
| Return on Equity | 13.53 | % | 13.49 | % | 13.60 | % | 12.90 | % | 12.30 | % | ||||||
| Net Interest Margin | 3.69 | % | 3.63 | % | 3.12 | % | 3.04 | % | 2.98 | % | ||||||
| Interest Income to Average Earning Assets | 4.67 | % | 4.61 | % | 4.57 | % | 4.51 | % | 4.40 | % | ||||||
| Interest Expense to Average Earning Assets | 0.98 | % | 0.98 | % | 1.45 | % | 1.47 | % | 1.42 | % | ||||||
| Efficiency Ratio | 50.58 | % | 49.70 | % | 53.51 | % | 53.59 | % | 54.94 | % | ||||||
| Capital | ||||||||||||||||
| Shareholders' Equity/Total Assets | 11.17 | % | 10.94 | % | 10.34 | % | 9.50 | % | 9.48 | % | ||||||
| Tier 1 Leverage Ratio | 11.95 | % | 11.72 | % | 10.54 | % | 10.39 | % | 11.12 | % | ||||||
| Regulatory Well Capitalized Minimum Ratio - Tier 1 Leverage Ratio | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | ||||||
| Tier 1 (Core) Capital | $ | 590,328 | $ | 584,613 | $ | 579,547 | $ | 579,884 | $ | 572,024 | ||||||
| Credit Quality | ||||||||||||||||
| Nonperforming Loans and OREO | $ | 9,802 | $ | 4,243 | $ | 4,313 | $ | 4,186 | $ | 4,731 | ||||||
| Nonperforming Loans and OREO/Total Loans | 0.38 | % | 0.16 | % | 0.17 | % | 0.17 | % | 0.20 | % | ||||||
| Nonperforming Loans and OREO/Tier 1 Capital | 1.66 | % | 0.73 | % | 0.74 | % | 0.72 | % | 0.83 | % | ||||||
| Allowance for Loan Losses | $ | 20,025 | $ | 19,500 | $ | 18,025 | $ | 18,550 | $ | 19,000 | ||||||
| Allowance for Loan Losses/Total Loans | 0.77 | % | 0.75 | % | 0.73 | % | 0.76 | % | 0.79 | % | ||||||
| Net interest margin, yields, and efficiency ratios are tax effected. | ||||||||||||||||
| Financial measures are year-to-date. | ||||||||||||||||
| Per common share amounts are not in thousands. | ||||||||||||||||
FAQ
What was First National Bank Alaska's (FBAK) earnings per share in Q2 2025?
How much did FBAK's loan portfolio grow in Q2 2025?
What is First National Bank Alaska's current net interest margin?
How strong is FBAK's capital position in Q2 2025?
What is First National Bank Alaska's current Return on Assets (ROA)?
How much are FBAK's nonperforming loans in Q2 2025?
