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First National Bank Alaska (PK:FBAK)

Business Focus: Banks

Sector:  Financials Industry:  Banks
 
Company Contact
Address: 101 West 36th Avenue
ANCHORAGE AK 99503
Tel: N/A
Website: https://www.fnbalaska.com
IR: See website
Key People
Betsy Lawer
Chairman of the Board, President, Chief Executive Officer
Dustin Hofeling
Senior Vice President, IT Systems and Support Director
Lucy Mahan
Vice Chairman of the Board
Michele Schuh
Chief Financial Officer, Executive Vice President
Cheri Gillian
Senior Executive Vice President, Chief Administrative Officer, Board Secretary
Phil Griffin
Executive Vice President, Chief Information Officer
Tiffany Hoogerhyde
Senior Vice President, Controller
Steven Patin
Senior Vice President, Human Resources Director
Rick Flake
Senior Vice President, Corporate Services Director
Karl Heinz
Senior Vice President, Branch Administration Director
   
Business Overview
First National Bank Alaska (the Bank) is a full-service commercial bank. Its principal activities include the receiving and lending of money. Additionally, the Bank provides trust banking services, escrow and contract collection services, bank card services, and safe deposit box facilities. These services are for businesses, industry, and individuals primarily within the state of Alaska. Its banking services are provided from over approximately 27 branches throughout Alaska. Its products include checking accounts, savings accounts, money market deposits, safe deposit services, certificate of deposit (CD) and individual retirement account (IRA), convenience banking, and online and mobile banking. It provides Mastercard Debit Cards, Mastercard Credit Cards, merchant services, cash flow solutions, escrow servicing, wealth management, business newsletter, treasury management, and workshop webinars. It provides federal housing administration loans and veterans administration loan program.
Financial Overview
For the fiscal year ended 31 December 2023, First National Bank Alaska interest income increased 34% to $214.5M. Net interest income after loan loss provision increased 6% to $155.4M. Net income increased 3% to $60M. Net interest income after loan loss provision reflects Banking Services segment increase from $0K to $155.4M. Net income was partially offset by Interest on Other Borrowings increase from $2.6M to $18.8M (expense).