ANCHORAGE, Alaska -- (Business Wire)
First National Bank Alaska’s (OTCBB:FBAK) net income for third quarter
2013 was $8.3 million or $25.70 per share. This compares to $11.1
million or $34.23 per share for the same quarter in 2012. Year-to-date
income of $24.5 million compares to prior period net income of $30.7
million. Lower yield on investment securities continue to compress
interest margins. Current year loan loss provisions are not benefiting
from as large recoveries as in prior year periods.
The year-to-date average yield on earning assets decreased 15 basis
points to 3.40% from 3.55% for the same period in 2012.
September 30, 2013, total assets grew to $3.136 billion on strong
deposit growth, an increase of $196.2 million.
Alaskan-owned and operated since 1922, First National proudly meets the
financial needs of Alaskans with ATMs and 30 branches in 18 communities
throughout the state. Forbes named the bank one of the nation's Most
Trustworthy Companies in 2012 and 2013. Visit FNBAlaska.com
for more information about Alaska's largest locally-owned bank and
access to efficient and secure online banking services.
Contacts:
First National Bank Alaska
Cheri Gillian, 907-777-3441
Source: First National Bank Alaska
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