CORRECTION: First National Bank Alaska announces unaudited results for fourth quarter and full year 2024
First National Bank Alaska (OTCQX:FBAK) has released corrected unaudited results for Q4 and full year 2024. The bank reported Q4 2024 net income of $19.9 million ($6.29 per share), up from $16.6 million ($5.24 per share) in Q4 2023.
Key highlights include:
- Loans totaled $2.5 billion as of Dec. 31, 2024, increasing by $196.6 million year-over-year
- Strong loan quality with nonperforming loans at $4.3 million (0.17% of outstanding loans)
- Q4 interest and loan fee income reached $63.4 million, up 6.2% year-over-year
- Total assets were $5.0 billion, with deposits and repurchase agreements at $4.4 billion
- Net interest margin improved to 3.12% from 2.82% year-over-year
The bank maintained strong capital positions with shareholders' equity at $516.6 million and a Tier 1 leverage capital ratio of 10.54%. Book value per share increased to $163.11 from $146.77 year-over-year.
First National Bank Alaska (OTCQX:FBAK) ha pubblicato i risultati corretti non verificati per il quarto trimestre e l'intero anno 2024. La banca ha riportato un utile netto del quarto trimestre 2024 di 19,9 milioni di dollari (6,29 dollari per azione), in aumento rispetto ai 16,6 milioni di dollari (5,24 dollari per azione) del quarto trimestre 2023.
Tra i principali punti salienti ci sono:
- I prestiti sono ammontati a 2,5 miliardi di dollari al 31 dicembre 2024, con un aumento di 196,6 milioni di dollari rispetto all'anno precedente
- Alta qualità dei prestiti con prestiti non performanti pari a 4,3 milioni di dollari (0,17% dei prestiti in essere)
- Nel quarto trimestre, i ricavi da interessi e commissioni sui prestiti hanno raggiunto 63,4 milioni di dollari, in aumento del 6,2% rispetto all'anno precedente
- Il totale degli attivi era di 5,0 miliardi di dollari, con depositi e contratti di riacquisto pari a 4,4 miliardi di dollari
- Il margine di interesse netto è migliorato al 3,12% rispetto al 2,82% dell'anno precedente
La banca ha mantenuto solide posizioni di capitale con un patrimonio netto degli azionisti di 516,6 milioni di dollari e un rapporto di capitale di leva Tier 1 del 10,54%. Il valore contabile per azione è aumentato a 163,11 dollari rispetto ai 146,77 dollari dell'anno precedente.
First National Bank Alaska (OTCQX:FBAK) ha publicado resultados corregidos no auditados para el cuarto trimestre y el año completo 2024. El banco reportó un ingreso neto de 19,9 millones de dólares en el cuarto trimestre de 2024 (6,29 dólares por acción), un aumento respecto a los 16,6 millones de dólares (5,24 dólares por acción) en el cuarto trimestre de 2023.
Los puntos clave incluyen:
- Los préstamos totalizaron 2,5 mil millones de dólares al 31 de diciembre de 2024, aumentando en 196,6 millones de dólares año tras año
- Fuerte calidad de los préstamos con préstamos no productivos de 4,3 millones de dólares (0,17% de los préstamos pendientes)
- Los ingresos por intereses y comisiones de préstamos del cuarto trimestre alcanzaron 63,4 millones de dólares, un aumento del 6,2% en comparación con el año anterior
- Los activos totales fueron de 5,0 mil millones de dólares, con depósitos y acuerdos de recompra de 4,4 mil millones de dólares
- El margen de interés neto mejoró al 3,12% desde el 2,82% año tras año
El banco mantuvo posiciones de capital sólidas con un patrimonio neto de los accionistas de 516,6 millones de dólares y un ratio de capital de apalancamiento de Nivel 1 del 10,54%. El valor contable por acción aumentó a 163,11 dólares desde 146,77 dólares año tras año.
퍼스트 내셔널 뱅크 알래스카 (OTCQX:FBAK)는 2024년 4분기 및 전체 연도에 대한 수정된 비감사 결과를 발표했습니다. 은행은 2024년 4분기 순이익이 1,990만 달러 (주당 6.29달러)로, 2023년 4분기 1,660만 달러 (주당 5.24달러)에서 증가했다고 보고했습니다.
주요 하이라이트는 다음과 같습니다:
- 대출 총액은 2024년 12월 31일 기준으로 25억 달러에 달하며, 전년 대비 1억 9,660만 달러 증가했습니다.
- 비수익 대출은 430만 달러(전체 대출의 0.17%)로 대출 품질이 우수합니다.
- 4분기 이자 및 대출 수수료 수익은 6,340만 달러에 도달하여, 전년 대비 6.2% 증가했습니다.
- 총 자산은 50억 달러였으며, 예금 및 재매입 계약은 44억 달러였습니다.
- 순이자 마진은 전년 대비 2.82%에서 3.12%로 개선되었습니다.
은행은 주주 자본이 5억 1,660만 달러이고, Tier 1 레버리지 자본 비율이 10.54%로 강력한 자본 포지션을 유지하고 있습니다. 주당 장부 가치는 전년 대비 146.77달러에서 163.11달러로 증가했습니다.
First National Bank Alaska (OTCQX:FBAK) a publié des résultats corrigés non audités pour le quatrième trimestre et l'année complète 2024. La banque a rapporté un revenu net de 19,9 millions de dollars pour le quatrième trimestre 2024 (6,29 dollars par action), en hausse par rapport à 16,6 millions de dollars (5,24 dollars par action) au quatrième trimestre 2023.
Les points clés incluent :
- Les prêts ont totalisé 2,5 milliards de dollars au 31 décembre 2024, augmentant de 196,6 millions de dollars par rapport à l'année précédente
- Qualité des prêts solide avec des prêts non performants s'élevant à 4,3 millions de dollars (0,17 % des prêts en cours)
- Les revenus d'intérêts et de frais de prêts du quatrième trimestre ont atteint 63,4 millions de dollars, en hausse de 6,2 % par rapport à l'année précédente
- Les actifs totaux étaient de 5,0 milliards de dollars, avec des dépôts et des contrats de rachat de 4,4 milliards de dollars
- La marge d'intérêt nette s'est améliorée à 3,12 % contre 2,82 % l'année précédente
La banque a maintenu des positions de capital solides avec un capital des actionnaires de 516,6 millions de dollars et un ratio de capital de levier de niveau 1 de 10,54 %. La valeur comptable par action a augmenté à 163,11 dollars contre 146,77 dollars l'année précédente.
First National Bank Alaska (OTCQX:FBAK) hat korrigierte, ungeprüfte Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht. Die Bank meldete einen Nettoertrag von 19,9 Millionen Dollar im vierten Quartal 2024 (6,29 Dollar pro Aktie), ein Anstieg von 16,6 Millionen Dollar (5,24 Dollar pro Aktie) im vierten Quartal 2023.
Wichtige Highlights sind:
- Die Kredite beliefen sich zum 31. Dezember 2024 auf 2,5 Milliarden Dollar, was einem Anstieg von 196,6 Millionen Dollar im Jahresvergleich entspricht.
- Hohe Kreditqualität mit notleidenden Krediten von 4,3 Millionen Dollar (0,17% der ausstehenden Kredite)
- Die Zinserträge und Gebühren aus Krediten im vierten Quartal erreichten 63,4 Millionen Dollar, was einem Anstieg von 6,2% im Jahresvergleich entspricht.
- Die gesamten Vermögenswerte betrugen 5,0 Milliarden Dollar, mit Einlagen und Rückkaufvereinbarungen in Höhe von 4,4 Milliarden Dollar.
- Die Nettozinsspanne verbesserte sich von 2,82% auf 3,12% im Jahresvergleich.
Die Bank hielt starke Kapitalpositionen mit einem Eigenkapital der Aktionäre von 516,6 Millionen Dollar und einem Tier-1-Leverage-Kapitalquotient von 10,54%. Der Buchwert pro Aktie stieg im Jahresvergleich von 146,77 Dollar auf 163,11 Dollar.
- None.
- None.
ANCHORAGE, Alaska, March 31, 2025 (GLOBE NEWSWIRE) -- In a release issued under the same headline on February 19, 2025, by First National Bank Alaska (OTCQX:FBAK), please note that in the third paragraph, the value of nonperforming loans as of Dec. 31, 2023 should be
First National Bank Alaska announces unaudited results for fourth quarter and full year 2024
First National Bank Alaska’s (OTCQX:FBAK) net income for the fourth quarter of 2024 was
“Fourth quarter results concluded another year of strong financial performance in 2024,” said First National Board Chair and CEO/President Betsy Lawer. “Growth in both loans and customer deposits along with repositioning efforts in the securities portfolio enhanced the balance sheet. Growth in noninterest income along with outstanding expense management resulted in record-high net income. As we build on the momentum generated in 2024, I’m excited about where our recently expanded leadership team will take us to further help Alaskans shape a brighter tomorrow.”
Loans totaled
Fourth quarter total interest and loan fee income was
Assets totaled
Deposits and repurchase agreements totaled
Interest expense for the quarter decreased by
Noninterest income for fourth quarter 2024 was
Provision for income taxes was reduced
Shareholders’ equity was
ABOUT FIRST NATIONAL BANK ALASKA
First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council. The bank’s latest Consolidated Report of Condition and Income (Call Report) is filed by the 30th of the month following quarter-end and is subsequently posted at FNBAlaska.com and OTCMarkets.com.
Alaska’s community bank since 1922, First National 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.
In 2025, Forbes selected First National as the sixth bank in the country on their America’s Best Banks list. In 2024, Alaska Business readers voted First National “Best of Alaska Business” in the Best Place to Work category for the ninth year in a row, Best Bank/Credit Union for the fourth time running, and Best Customer Service. The bank was also voted “Best of Alaska” in 2024 in the Anchorage Daily News awards, ranking as one of the top three in the Bank/Financial category for the sixth year in a row. American Banker again recognized First National as a “Best Bank to Work For” in 2024, for the seventh consecutive year.
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 Bank Alaska received an Outstanding Community Reinvestment Act performance rating from the Office of the Comptroller of the Currency Our dedicated team strives to provide exceptional customer service to meet the banking needs of our neighbors and fellow Alaskans across the state to help shape a brighter tomorrow.
First National Bank Alaska is a Member FDIC, Equal Housing Lender, and 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) | |||||||||||||||||||
| ($ in thousands, except per common share amounts) | |||||||||||||||||||
| Three months ended | Year ended | ||||||||||||||||||
| Dec. 31, | Sep. 30, | Dec. 31, | December 31, | ||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| Income Statement | |||||||||||||||||||
| Total Interest And Loan Fee Income | $ | 63,439 | $ | 64,615 | $ | 59,761 | $ | 244,320 | $ | 214,518 | |||||||||
| Total Interest Expense | $ | 18,591 | $ | 21,319 | $ | 18,803 | $ | 77,599 | $ | 60,039 | |||||||||
| Provision for Credit Losses | $ | (118 | ) | $ | (432 | ) | $ | (344 | ) | $ | 721 | $ | (930 | ) | |||||
| Total Noninterest Income | $ | 7,011 | $ | 7,293 | $ | 6,522 | $ | 28,233 | $ | 25,426 | |||||||||
| Total Noninterest Expense | $ | 27,696 | $ | 25,928 | $ | 24,651 | $ | 104,346 | $ | 98,168 | |||||||||
| Provision for Income Taxes | $ | 4,350 | $ | 7,099 | $ | 6,593 | $ | 22,839 | $ | 22,657 | |||||||||
| Net Income | $ | 19,931 | $ | 17,994 | $ | 16,580 | $ | 67,048 | $ | 60,010 | |||||||||
| Earnings per common share | $ | 6.29 | $ | 5.68 | $ | 5.24 | $ | 21.17 | $ | 18.96 | |||||||||
| Dividend per common share | $ | 6.40 | $ | 3.20 | $ | 6.40 | $ | 16.00 | $ | 16.00 | |||||||||
| Financial Overview (Unaudited) | Quarter Ended | ||||||||||||||||||
| 12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | |||||||||||||||
| Balance Sheet | |||||||||||||||||||
| Total Assets | $ | 4,997,767 | $ | 5,557,306 | $ | 5,116,066 | $ | 5,212,976 | $ | 5,730,835 | |||||||||
| Total Securities | $ | 1,928,625 | $ | 2,602,519 | $ | 2,197,788 | $ | 2,404,078 | $ | 2,384,951 | |||||||||
| Total Loans | $ | 2,469,935 | $ | 2,445,596 | $ | 2,391,593 | $ | 2,369,282 | $ | 2,273,311 | |||||||||
| Total Deposits | $ | 3,679,155 | $ | 3,728,181 | $ | 3,698,631 | $ | 3,665,066 | $ | 3,780,018 | |||||||||
| Repurchase Agreements | $ | 743,193 | $ | 647,043 | $ | 615,096 | $ | 571,463 | $ | 629,280 | |||||||||
| Total Deposits and Repurchase Agreements | $ | 4,422,348 | $ | 4,375,224 | $ | 4,313,727 | $ | 4,236,529 | $ | 4,409,298 | |||||||||
| Total Borrowing under the Federal Reserve Bank Term Funding Program | $ | - | $ | 249,868 | $ | 249,868 | $ | 430,000 | $ | 780,000 | |||||||||
| Unrealized loss on marketable securities, net of tax | $ | (62,985 | ) | $ | (52,020 | ) | $ | (86,857 | ) | $ | (95,809 | ) | $ | (98,378 | ) | ||||
| Total Shareholders' Equity | $ | 516,562 | $ | 527,864 | $ | 485,167 | $ | 470,702 | $ | 464,791 | |||||||||
| Financial Measures | |||||||||||||||||||
| Return on Assets | 1.22 | % | 1.15 | % | 1.08 | % | 0.95 | % | 1.07 | % | |||||||||
| Return on Equity | 13.60 | % | 12.90 | % | 12.30 | % | 11.52 | % | 13.97 | % | |||||||||
| Net Interest Margin | 3.12 | % | 3.04 | % | 2.98 | % | 2.76 | % | 2.82 | % | |||||||||
| Yield on Loans | 6.67 | % | 6.65 | % | 6.55 | % | 6.40 | % | 6.25 | % | |||||||||
| Yield on Securities | 2.55 | % | 2.49 | % | 2.33 | % | 2.36 | % | 1.66 | % | |||||||||
| Cost of Interest Bearing Deposits | 1.57 | % | 1.62 | % | 1.60 | % | 1.55 | % | 1.02 | % | |||||||||
| Efficiency Ratio | 53.51 | % | 53.59 | % | 54.94 | % | 56.00 | % | 54.28 | % | |||||||||
| Capital | |||||||||||||||||||
| Shareholders' Equity/Total Assets | 10.34 | % | 9.50 | % | 9.48 | % | 9.03 | % | 8.11 | % | |||||||||
| Tier 1 Leverage Ratio | 10.54 | % | 10.39 | % | 11.12 | % | 9.96 | % | 9.85 | % | |||||||||
| Regulatory Well Capitalized Minimum Ratio - Tier 1 Leverage Ratio | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | 5.00 | % | |||||||||
| Tier 1 (Core) Capital | $ | 579,547 | $ | 579,884 | $ | 572,024 | $ | 566,511 | $ | 563,169 | |||||||||
| Credit Quality | |||||||||||||||||||
| Nonperforming Loans and OREO | $ | 4,313 | $ | 4,186 | $ | 4,731 | $ | 28,634 | $ | 4,623 | |||||||||
| Nonperforming Loans and OREO/Total Loans | 0.17 | % | 0.17 | % | 0.20 | % | 1.21 | % | 0.20 | % | |||||||||
| Nonperforming Loans and OREO/Tier 1 Capital | 0.74 | % | 0.72 | % | 0.83 | % | 5.05 | % | 0.82 | % | |||||||||
| Allowance for Credit Losses | $ | 18,025 | $ | 18,550 | $ | 19,000 | $ | 18,800 | $ | 17,750 | |||||||||
| Allowance for Credit Losses/Total Loans | 0.73 | % | 0.76 | % | 0.79 | % | 0.79 | % | 0.78 | % | |||||||||
| Net interest margin, yields, and efficiency ratios are tax effected. | |||||||||||||||||||
| Financial measures are year-to-date. | |||||||||||||||||||
FAQ
What was First National Bank Alaska's (FBAK) net income for Q4 2024?
How much did FBAK's loan portfolio grow in 2024?
What is FBAK's current loan quality status as of Q4 2024?
How did FBAK's net interest margin perform in 2024?
What was FBAK's book value per share at the end of 2024?
