First National Bank Alaska announces unaudited results for third quarter 2025
Rhea-AI Summary
First National Bank Alaska (OTCQX:FBAK) reported third quarter 2025 net income of $21.4 million or $6.75 per share, up from $18.0 million, or $5.68, in Q3 2024. Return on assets rose to 1.53% (up 38 bps) and return on equity improved to 14.13%. Total assets were $5.2 billion as of Sept. 30, 2025, with loans of $2.6 billion and deposits/repurchase agreements of $4.6 billion. Net interest margin increased to 3.76% driven by higher yields and lower funding costs. Third quarter provision for credit losses was $0.4 million (vs. a $0.4 million benefit in Q3 2024); the allowance for credit losses was $20.1 million (0.78% of loans). Shareholders' equity reached $567.7 million and Tier 1 leverage capital was 11.70%.
Positive
- Net income +18.9% year-over-year to $21.4M
- Net interest margin increased to 3.76%, up 72 bps
- Interest expense decreased ~42% to $12.2M
- Shareholders' equity increased to $567.7M
- Tier 1 leverage capital ratio at 11.70% (above well-capitalized)
Negative
- Provision for credit losses YTD $2.6M vs $0.8M prior year
- Nonperforming loans increased to $10.8M (0.42% of loans)
- Investment interest income decreased by $6.6M for the quarter
News Market Reaction – FBAK
On the day this news was published, FBAK declined 0.98%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ANCHORAGE, Alaska, Nov. 04, 2025 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the third quarter of 2025 was
“First National’s 2025 performance demonstrates strong quarterly growth in net income and continued momentum across our key performance ratios,” said First National Board Chair and CEO/President Betsy Lawer. “Teams across the bank focused on strategies that drove loan and deposit growth, improved noninterest income improvement, and kept operating expenses aligned with our customer and operational goals. Return on assets of
Total assets increased to
Loans totaled
Interest and fees on loans for the third quarter totaled
Total interest expense for the third quarter was
Net interest margin through Sept. 30, 2025 increased to
Noninterest operating income for third quarter 2025 was
The efficiency ratio for Sept. 30, 2025, was
Shareholders’ equity reached
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. 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. In 2025, First National 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. American Banker recognized the bank as a “Best Bank to Work For” in 2024, for the seventh year in a row.
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) | ||||||||||||||
| 9/30/2025 | 6/30/2025 | 3/31/2025 | 12/31/2024 | 9/30/2024 | |||||||||||
| Balance Sheet | |||||||||||||||
| Total Assets | $ | 5,243,993 | $ | 4,923,803 | $ | 4,890,081 | $ | 4,997,767 | $ | 5,557,306 | |||||
| Total Securities | $ | 2,002,118 | $ | 1,859,645 | $ | 1,882,332 | $ | 1,928,625 | $ | 2,602,519 | |||||
| Total Loans | $ | 2,590,699 | $ | 2,591,713 | $ | 2,607,081 | $ | 2,469,935 | $ | 2,445,596 | |||||
| Total Deposits | $ | 3,808,022 | $ | 3,586,204 | $ | 3,580,147 | $ | 3,679,155 | $ | 3,728,181 | |||||
| Repurchase Agreements | $ | 804,589 | $ | 731,808 | $ | 716,908 | $ | 743,193 | $ | 647,043 | |||||
| Total Deposits and Repurchase Agreements | $ | 4,612,611 | $ | 4,318,012 | $ | 4,297,055 | $ | 4,422,348 | $ | 4,375,224 | |||||
| Total Borrowing under Federal Bank Credit Facilities | $ | 15,000 | $ | 15,000 | $ | 15,000 | $ | 15,000 | $ | 604,868 | |||||
| Unrealized Loss on Marketable Securities, Net of Tax | $ | (31,296 | ) | $ | (40,193 | ) | $ | (49,465 | ) | $ | (62,985 | ) | $ | (52,020 | ) |
| Total Shareholders' Equity | $ | 567,724 | $ | 550,135 | $ | 535,148 | $ | 516,562 | $ | 527,864 | |||||
| Income Statement | |||||||||||||||
| Interest and Fees on Loans | $ | 44,116 | $ | 43,212 | $ | 41,150 | $ | 41,273 | $ | 41,886 | |||||
| Interest and Dividends on Investment Securities | $ | 12,229 | $ | 10,818 | $ | 11,150 | $ | 17,392 | $ | 18,808 | |||||
| Interest on Cash and Cash Equivalents | $ | 4,381 | $ | 2,969 | $ | 3,563 | $ | 4,597 | $ | 3,727 | |||||
| Total Interest and Loan Fee Income | $ | 60,726 | $ | 56,999 | $ | 55,863 | $ | 63,262 | $ | 64,421 | |||||
| Total Interest Expense | $ | 12,155 | $ | 11,842 | $ | 11,956 | $ | 18,591 | $ | 21,319 | |||||
| Provision for Credit Losses | $ | 436 | $ | 631 | $ | 1,535 | $ | (118 | ) | $ | (432 | ) | |||
| Total Noninterest Operating Income | $ | 7,596 | $ | 7,363 | $ | 6,910 | $ | 7,178 | $ | 7,487 | |||||
| Net Gains on Investment Securities | $ | - | $ | - | $ | - | $ | 10 | $ | - | |||||
| Total Noninterest Expense | $ | 26,802 | $ | 27,083 | $ | 25,334 | $ | 27,696 | $ | 25,928 | |||||
| Provision for Income Taxes | $ | 7,570 | $ | 6,423 | $ | 6,214 | $ | 4,350 | $ | 7,099 | |||||
| Net Income | $ | 21,359 | $ | 18,383 | $ | 17,734 | $ | 19,931 | $ | 17,994 | |||||
| Earnings per Common Share | $ | 6.75 | $ | 5.80 | $ | 5.60 | $ | 6.29 | $ | 5.68 | |||||
| Dividend per Common Share | $ | 4.00 | $ | 4.00 | $ | 4.00 | $ | 6.40 | $ | 3.20 | |||||
| Financial Measures | |||||||||||||||
| Return on Assets | 1.53 | % | 1.46 | % | 1.42 | % | 1.22 | % | 1.15 | % | |||||
| Return on Equity | 14.13 | % | 13.53 | % | 13.49 | % | 13.60 | % | 12.90 | % | |||||
| Net Interest Margin | 3.76 | % | 3.69 | % | 3.63 | % | 3.12 | % | 3.04 | % | |||||
| Interest Income to Average Earning Assets | 4.74 | % | 4.67 | % | 4.61 | % | 4.57 | % | 4.51 | % | |||||
| Interest Expense to Average Earning Assets | 0.98 | % | 0.98 | % | 0.98 | % | 1.45 | % | 1.47 | % | |||||
| Efficiency Ratio | 49.52 | % | 50.58 | % | 49.70 | % | 53.51 | % | 53.59 | % | |||||
| Capital | |||||||||||||||
| Shareholders' Equity/Total Assets | 10.83 | % | 11.17 | % | 10.94 | % | 10.34 | % | 9.50 | % | |||||
| Tier 1 Leverage Ratio | 11.70 | % | 11.95 | % | 11.72 | % | 10.54 | % | 10.39 | % | |||||
| Regulatory Well Capitalized Minimum Ratio - Tier 1 Leverage Ratio | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | |||||
| Tier 1 (Core) Capital | $ | 599,020 | $ | 590,328 | $ | 584,613 | $ | 579,547 | $ | 579,884 | |||||
| Credit Quality | |||||||||||||||
| Nonperforming Loans and OREO | $ | 10,847 | $ | 9,802 | $ | 4,243 | $ | 4,313 | $ | 4,186 | |||||
| Nonperforming Loans and OREO/Total Loans | 0.42 | % | 0.38 | % | 0.16 | % | 0.17 | % | 0.17 | % | |||||
| Nonperforming Loans and OREO/Tier 1 Capital | 1.81 | % | 1.66 | % | 0.73 | % | 0.74 | % | 0.72 | % | |||||
| Allowance for Loan Losses | $ | 20,100 | $ | 20,025 | $ | 19,500 | $ | 18,025 | $ | 18,550 | |||||
| Allowance for Loan Losses/Total Loans | 0.78 | % | 0.77 | % | 0.75 | % | 0.73 | % | 0.76 | % | |||||
| 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 were First National Bank Alaska (FBAK) Q3 2025 net income and EPS?
How did First National Bank Alaska's return on assets (ROA) perform in Q3 2025?
What drove the improvement in FBAK's net interest margin in 2025?
Did First National Bank Alaska's provision for credit losses change in 2025?
What is FBAK's capital position after Q3 2025 results?
How did deposits and loans change at First National Bank Alaska through Sept. 30, 2025?
