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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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