First National Bank Alaska announces unaudited results for fourth quarter and full year 2024
First National Bank Alaska (OTCQX:FBAK) reported strong Q4 2024 financial results with net income of $19.9 million ($6.29 per share), up from $16.6 million ($5.24 per share) in Q4 2023. Loans grew to $2.5 billion, increasing by $196.6 million year-over-year, with strong loan quality showing nonperforming loans at just 0.17%. Interest and loan fee income rose 6.2% to $63.4 million, with loan yield increasing to 6.67%.
Total assets were $5.0 billion, with deposits and repurchase agreements at $4.4 billion. The net interest margin improved to 3.12% from 2.82% year-over-year. Noninterest income grew 7.5% to $7.0 million, while noninterest expenses increased 12.4% due to higher salaries and benefits. Shareholders' equity reached $516.6 million, with book value per share rising to $163.11.
First National Bank Alaska (OTCQX:FBAK) ha riportato risultati finanziari solidi per il quarto trimestre del 2024, con un utile netto 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 del 2023. I prestiti sono cresciuti fino a 2,5 miliardi di dollari, con un incremento di 196,6 milioni di dollari rispetto all'anno precedente, mostrando una buona qualità dei prestiti con prestiti non performanti pari solo allo 0,17%. Le entrate da interessi e commissioni sui prestiti sono aumentate del 6,2% a 63,4 milioni di dollari, con un rendimento sui prestiti che è salito al 6,67%.
Il totale degli attivi era di 5,0 miliardi di dollari, con depositi e accordi 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. Le entrate non da interessi sono cresciute del 7,5% a 7,0 milioni di dollari, mentre le spese non da interessi sono aumentate del 12,4% a causa di salari e benefici più elevati. Il patrimonio netto degli azionisti ha raggiunto 516,6 milioni di dollari, con il valore contabile per azione che è salito a 163,11 dollari.
First National Bank Alaska (OTCQX:FBAK) reportó resultados financieros sólidos para el cuarto trimestre de 2024, con un ingreso neto de 19,9 millones de dólares (6,29 dólares por acción), en comparación con los 16,6 millones de dólares (5,24 dólares por acción) en el cuarto trimestre de 2023. Los préstamos crecieron a 2,5 mil millones de dólares, aumentando en 196,6 millones de dólares interanual, con una buena calidad de los préstamos que muestra préstamos no productivos de solo el 0,17%. Los ingresos por intereses y comisiones de préstamos aumentaron un 6,2% a 63,4 millones de dólares, con un rendimiento de préstamos que subió al 6,67%.
Los activos totales fueron de 5,0 mil millones de dólares, con depósitos y acuerdos de recompra en 4,4 mil millones de dólares. El margen de interés neto mejoró al 3,12% desde el 2,82% interanual. Los ingresos no por intereses crecieron un 7,5% a 7,0 millones de dólares, mientras que los gastos no por intereses aumentaron un 12,4% debido a salarios y beneficios más altos. El patrimonio neto de los accionistas alcanzó los 516,6 millones de dólares, con el valor contable por acción aumentando a 163,11 dólares.
퍼스트 내셔널 은행 알래스카 (OTCQX:FBAK)는 2024년 4분기 재무 결과가 양호하다고 보고했으며, 순이익은 1,990만 달러 (주당 6.29달러)로, 2023년 4분기의 1,660만 달러 (주당 5.24달러)에서 증가했습니다. 대출은 25억 달러로 증가했으며, 전년 대비 1억 9,660만 달러 증가했으며, 대출 품질이 양호하여 불량 대출 비율은 0.17%에 불과합니다. 이자 및 대출 수수료 수입은 6.2% 증가하여 6,340만 달러에 달했으며, 대출 수익률은 6.67%로 증가했습니다.
총 자산은 50억 달러였으며, 예금 및 재매입 계약은 44억 달러에 달했습니다. 순이자 마진은 전년 대비 2.82%에서 3.12%로 개선되었습니다. 비이자 수익은 7.5% 증가하여 700만 달러에 달했으며, 비이자 비용은 임금 및 복리후생 증가로 12.4% 증가했습니다. 주주 자본은 5억 1,660만 달러에 도달했으며, 주당 장부 가치는 163.11달러로 상승했습니다.
First National Bank Alaska (OTCQX:FBAK) a rapporté des résultats financiers solides pour le quatrième trimestre 2024, avec un bénéfice net de 19,9 millions de dollars (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 prêts ont augmenté pour atteindre 2,5 milliards de dollars, soit une augmentation de 196,6 millions de dollars par rapport à l'année précédente, avec une bonne qualité de prêt montrant des prêts non performants à seulement 0,17%. Les revenus d'intérêts et de frais de prêt ont augmenté de 6,2% pour atteindre 63,4 millions de dollars, avec un rendement des prêts qui a augmenté à 6,67%.
Les actifs totaux s'élevaient à 5,0 milliards de dollars, avec des dépôts et des accords de rachat à 4,4 milliards de dollars. La marge d'intérêt nette s'est améliorée à 3,12% contre 2,82% d'une année sur l'autre. Les revenus non liés aux intérêts ont augmenté de 7,5% pour atteindre 7,0 millions de dollars, tandis que les dépenses non liées aux intérêts ont augmenté de 12,4% en raison de salaires et d'avantages plus élevés. Les capitaux propres des actionnaires ont atteint 516,6 millions de dollars, avec une valeur comptable par action qui a augmenté à 163,11 dollars.
First National Bank Alaska (OTCQX:FBAK) berichtete über starke finanzielle Ergebnisse für das vierte Quartal 2024 mit einem Nettogewinn von 19,9 Millionen US-Dollar (6,29 US-Dollar pro Aktie), ein Anstieg von 16,6 Millionen US-Dollar (5,24 US-Dollar pro Aktie) im vierten Quartal 2023. Die Kredite stiegen auf 2,5 Milliarden US-Dollar, was einem Anstieg von 196,6 Millionen US-Dollar im Jahresvergleich entspricht, wobei die Kreditqualität stark blieb und die notleidenden Kredite nur 0,17% betrugen. Die Zinsen und Gebühreneinnahmen aus Krediten stiegen um 6,2% auf 63,4 Millionen US-Dollar, während die Kreditausbeute auf 6,67% anstieg.
Die Gesamtaktiva betrugen 5,0 Milliarden US-Dollar, wobei Einlagen und Rückkaufvereinbarungen bei 4,4 Milliarden US-Dollar lagen. Die Nettozinsspanne verbesserte sich von 2,82% auf 3,12% im Jahresvergleich. Die Einnahmen aus nichtzinsbezogenen Geschäften stiegen um 7,5% auf 7,0 Millionen US-Dollar, während die nichtzinsbezogenen Aufwendungen aufgrund höherer Gehälter und Leistungen um 12,4% zunahmen. Das Eigenkapital der Aktionäre erreichte 516,6 Millionen US-Dollar, während der Buchwert pro Aktie auf 163,11 US-Dollar anstieg.
- Net income increased 19.9% YoY to $19.9 million in Q4 2024
- Loan portfolio grew by $196.6 million YoY with strong 0.17% nonperforming loan ratio
- Interest and loan fee income rose 6.2% to $63.4 million
- Net interest margin improved to 3.12% from 2.82%
- Book value per share increased to $163.11 from $146.77
- Strong efficiency ratio of 53.51%, better than peer groups
- Noninterest expenses increased 12.4% due to higher labor and healthcare costs
- Total assets decreased by $559.5 million due to repayment of borrowed funds
- Return on equity slightly decreased to 13.60% from 13.97%
ANCHORAGE, Alaska, Feb. 19, 2025 (GLOBE NEWSWIRE) -- 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 | $ | 56,773 | $ | 59,493 | $ | 59,761 | |||||||||
| Total Interest Expense | $ | 18,591 | $ | 21,319 | $ | 16,521 | $ | 21,168 | $ | 18,803 | |||||||||
| 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 | $ | 4,659 | |||||||||
| 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 | % | 0.83 | % | |||||||||
| 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
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