First National Bank Alaska’s (OTCBB:FBAK) net income for second quarter 2012 was $9.3 million or $28.45 per share. This compares to $8.5 million or $25.48 per share for the same quarter in 2011. Year-to-date net income of $19.5 million or $59.48 per share compares with $17.0 million or $51.3 per share through the first half of 2011. The increase in second quarter net income was due primarily to net recoveries in provision for loan losses. The second quarter provision for loan losses was a net recovery of $0.1 million, compared with a net charge of $0.8 million recorded during the same quarter 2011. Management maintains an allowance for loan losses adequate to cover the current estimate of probable losses. Year-to-date net income for 2012 improved due to modestly improving net interest margin and continuing credit quality improvement, which reduced the provision requirements for loan losses. The year-to-date average yield on earning assets decreased 27 basis points to 3.83% from 4.10% for the comparable period in 2011. Year-to-date average cost of interest bearing liabilities improved by 7 basis points to 0.16% from 0.23%. The reduced yield on earning assets was more than offset by the growth in volume in average earning assets of $190 million year over year. Alaskan-owned and operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and 30 branches in 18 communities throughout the state. Visit FNBAlaska.com for more information about Alaska's largest locally-owned bank and access to efficient and secure online banking services.