First National Bank Alaska Announces Unaudited Preliminary Results for Second Quarter
July 28, 2010 09:41 PM Eastern Daylight Time
ANCHORAGE, Alaska--(BUSINESS WIRE)--First National Bank Alaska’s (OTCBB:FBAK) net income for second quarter 2010 was $9.8 million or $29.41 per share, said Chief Financial Officer Jason Roth. This compares to $10.1 million or $30.28 per share for the same quarter in 2009. Year-to-date net income of $19.2 million or $57.73 per share compares with $19.6 million or $58.58 per share through the first six months of 2009.
“Second quarter income was down due to lower interest rates in the current economic environment, driving down interest and loan fee income. However, the impact of this was largely offset by improvements in the loan portfolio, which resulted in a $1.6 million reduction in the provision for loan losses,” Roth said.
At the regularly scheduled meeting of the Board of Directors of F...
Posted: August 4, 2010