This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

First National Bank Alaska Announces Unaudited Preliminary Results For Second Quarter

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 First National Bank Alaska held on July 22, 2010, the Directors present unanimously declared a cash dividend of $25.00 per share, payable on September 15, 2010, to shareholders of record as of September 1, 2010. Furthermore, the Directors present unanimously declared, subject to approval of the Comptroller of the Currency, a cash dividend of $100.00, payable on October 15, 2010, to shareholders of record as of October 1, 2010; a cash dividend of $25.00 per share, payable on December 15, 2010, to shareholders of record as of December 1, 2010; and a cash dividend of $12.50 per share, payable on March 15, 2011, to shareholders of record as of March 1, 2011.

Application has been made to the Comptroller of the Currency for approval of the dividends payable in October and December of this year, and in March of next year.

Established in 1922, First National is Alaska’s largest Alaskan-owned and operated bank, with ATMs 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
FBAK $1,560.00 0.00%
AAPL $130.42 0.00%
FB $80.41 0.00%
GOOG $555.48 0.00%
TSLA $207.19 0.00%

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs