This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First National Bank Alaska Announces Unaudited Preliminary Results For First Quarter

First National Bank Alaska's (OTCBB:FBAK) net income for first quarter 2010 was $9.4 million or $28.32 per share, said Chief Financial Officer Jason Roth. This compares to $9.5 million or $28.31 per share for the same quarter in 2009.

"The bank maintained earning levels in the current environment by effectively managing interest margins and adequately provisioning for loan losses thereby reducing the unfavorable impact either of these factors might have had on earnings during the quarter," Roth said.

Shareholders approved a stock repurchase program at the bank's April 27, 2010 annual meeting. Under the program, First National will repurchase shares of its outstanding common stock from time-to-time in the open market as well as through privately negotiated transactions. Repurchases will be funded from available capital and all repurchased shares will be retired and available to reissue for general corporate purposes.

The specific timing and amount of repurchases will vary based on market conditions, securities law limitations and other factors and may be suspended or discontinued at any time without prior notice. The repurchase program will expire when the bank has repurchased stock representing an aggregate purchase price of $100 million, upon termination by the Board of Directors, or upon expiration of regulatory approval on April 7, 2011.

Established in 1922, First National is Alaska's largest Alaskan-owned and operated bank, with ATM's and 30 branches in 18 communities throughout Alaska. More information about First National is available at www.FNBAlaska.com.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
FBAK $1,475.00 0.00%
AAPL $110.55 -2.00%
FB $87.03 -2.70%
GOOG $603.33 -2.40%
TSLA $249.06 0.00%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs