First National Bank Alaska's Q3 net income rises on loan growth

Reuters11-05
<a href="https://laohu8.com/S/FBAK">First National Bank Alaska</a>'s Q3 net income rises on loan growth

Overview

  • First National Bank Alaska Q3 net income rises to $21.4 mln, showing strong growth

  • EPS for Q3 increases to $6.75, reflecting improved profitability

  • Net interest margin for Q3 improves to 3.76%, driven by better yields

Outlook

  • Company did not provide specific guidance for future quarters or full-year forecasts in press release

Result Drivers

  • LOAN AND DEPOSIT GROWTH - Co attributes net income growth to strategies driving loan and deposit increases

  • INTEREST EXPENSE REDUCTION - Decrease in interest expense due to lower borrowing costs and effective cost management

  • NONINTEREST INCOME - Slight increase in noninterest income contributes to overall revenue growth

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$6.75

Q3 Net Income

$21.4 mln

Q3 Net Interest Margin

3.76%

Q3 Provision For Loan Losses

$436,000

Q3 ROE

14.13%

Press Release: ID:nGNX6QBg7b

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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