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First National Bank Alaska reports recurring developments tied to its Alaska-focused community banking franchise and its OTCQX-traded common shares under the symbol FBAK. Company news commonly covers unaudited quarterly results, net income, earnings per share, return measures, book value, shareholders’ equity, capital ratios and efficiency trends.
Updates also include board-declared cash dividends, loan and deposit growth, net interest margin, securities-portfolio effects on equity, and recognition tied to bank performance and community reinvestment. The bank describes itself as Alaska’s community bank since 1922, serving customers through branches, ATMs and banking services across the state.
First National Bank Alaska (OTCQX:FBAK) reported an unaudited net income of $14.0 million or $4.41 per share for Q1 2021, down slightly from $14.1 million or $4.47 per share in Q1 2020. Total interest and loan fee income increased 0.8% to $37.1 million, but the blended yield on interest-earning assets fell to 3.23% from 4.01%. Noninterest income rose to $6.2 million, driven by higher mortgage loan origination income. Total assets reached $4.9 billion, increasing $232.5 million from the previous quarter.
First National Bank Alaska (OTCQX:FBAK) announced a cash dividend of $3.20 per share during its Board of Directors Meeting on April 28, 2021. This dividend is scheduled to be paid on June 15, 2021, to shareholders on record as of June 1, 2021. This decision reflects the bank's ongoing commitment to returning value to its shareholders.
First National Bank Alaska (OTCQX:FBAK) reported unaudited net income for Q4 2020 of $13.3 million, down from $14.2 million in Q4 2019. The year-to-date net income increased to $57.5 million compared to $55.6 million in 2019. Total interest and loan fee income decreased by 6.2% year-over-year due to lower yields. Noninterest income rose 17.7%, driven by stronger mortgage loan origination. Total assets grew to $4.70 billion, while total loans reached $2.21 billion. The bank originated 2,464 SBA PPP loans totaling $344.7 million, aiding local businesses amid the pandemic.
First National Bank Alaska (OTCQX:FBAK) has declared a cash dividend of $3.20 per share during its Board of Directors Meeting on January 28, 2021. The dividend is set to be paid on March 15, 2021, to those shareholders who are on record as of March 1, 2021. This announcement reflects the bank's ongoing commitment to returning value to shareholders.