ANCHORAGE, Alaska--(BUSINESS WIRE)--First National Bank Alaska’s (OTC PINK:FBAK) unaudited net income for second quarter 2018 was $12.6 million, or $39.7 per share. This compares to net income of $10.9 million, or $34.46 per share for the same period in 2017. Pre-tax income was $16.4 million, similar to second quarter in 2017.
Return on assets was 1.42 percent and return on equity was 10.47 percent, increasing from 1.15 percent and 8.23 percent, respectively, during the same period in 2017. Net interest and loan fee income for second quarter 2018 was $32.2 million, an increase of 3.17 percent from second quarter 2017. The efficiency ratio remained relatively unchanged at 54.64 percent compared to 54.63 percent during the same period in 2017.
Balance sheet changes for the quarter ended June 30, 2018:
- Total assets increased $29.2 million to $3.65 billion
- Gross loans increased by $47.2 million to $1.91 billion
- Deposits and repurchase agreements increased $43.19 million to $3.15 billion
- Total shareholders’ equity increased $951,000 to $489.7 million
First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council. Our latest Consolidated Report of Condition and Income (Call Report) was filed July 30, 2018 and is posted along with other financial reports at www.FNBAlaska.com > 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. In 2018, Alaska Business readers voted the bank the “Best of Alaska Business” in the Best Place to Work category for the third year in a row and as best Corporate Citizen for the second. In January 2018, Microsoft News named First National the most admired company in the state.
Visit FNBAlaska.com for more information about Alaska’s largest locally-owned bank and access to efficient and secure online banking services. First National Bank Alaska is a Member FDIC and Equal Housing Lender.