First National Bank Alaska Announces Unaudited Results for Fourth Quarter 2014
February 05 2015 - 8:54PM
Business Wire
First National Bank Alaska’s (OTCBB:FBAK) net income for fourth
quarter 2014 was $7.4 million or $23.15 per share. This compares to
$7.8 million or $24.29 per share for the same quarter in 2013.
Quarter over quarter, net interest and loan fee income after
provision for loan losses increased 5.9% and noninterest income
increased 4.7%. Operating expenses increased 13.3%, outpacing the
combined revenue improvements.
Year to date net income as of December 31, 2014 was $32.6
million or $101.37 per share compared to $32.3 million or $99.80
per share for 2013. For the year, net interest and loan fee income
after provision for loan losses increased $2.6 million or 2.6%,
noninterest income decreased $2.3 million or 7.7%, and operating
expenses plus provision for income taxes increased minimally.
Other annual balance sheet changes as of December 31, 2014 over
prior year end:
- Total assets grew $209.4 million to
$3.31 billion
- Gross loans increased by $85.6 million
to $1.38 billion
- Deposits grew by $189.1 million to
$2.83 billion
- Total shareholders’ equity increased
$19.3 million to $471.8 million
First National Bank Alaska files a quarterly financial report
with the Federal Financial Institution Examination Council as
required of all banking institutions. Our latest Consolidated
Report of Condition and Income (Call Report) was filed January 30,
2015 and is posted along with other financial reports for 2014 on
our website www.FNBAlaska.com <About FNBA> Financial
Reports.
Alaskan-owned and operated since 1922, First National proudly
meets the financial needs of Alaskans with ATMs and branches in 18
communities throughout the state. Visit www.FNBAlaska.com for more
information about Alaska’s largest locally-owned bank and access to
efficient and secure online banking services.
First National Bank AlaskaCheri Gillian,
907-777-3441www.FNBAlaska.com
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