First National Bank Alaska Reports Strong Q1 2025 Earnings
ANCHORAGE, Alaska, May 07, 2025 (GLOBE NEWSWIRE) — First National Bank Alaska (OTCQX:FBAK) reported a net income of $17.7 million, or $5.60 per share, for Q1 2025, up from $13.5 million, or $4.26 per share, in Q1 2024. The bank’s CEO and Board Chair, Betsy Lawer, credited a strong momentum built over 2024 for the impressive 2025 start.
“Our unrivaled 600-plus employees are delivering dynamic improvements to services across the bank,” said Lawer. The bank continues to focus on enhancing customer experiences both online and in person, boosting operational efficiencies and cybersecurity measures.
As of March 31, 2025, loans increased to $2.6 billion, reflecting a $137.1 million rise in Q1, with nonperforming loans remaining low at 0.16%. The provision for credit losses stood at $1.5 million, compared to $0.9 million in Q1 2024. Despite total interest and loan fee income decreasing to $56.0 million, the bank achieved a return on assets of 1.42%.
The bank’s total assets were $4.9 billion with shareholder equity at $535.1 million, marking a $18.5 million increase. The efficiency ratio improved to 49.70%, outperforming peers nationally.
First National, founded in 1922, operates 28 locations across 19 communities in Alaska and has received numerous accolades for its customer service and workplace culture. In 2025, Forbes recognized the bank as one of America’s Best Banks.
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