First National Bank Alaska’s (OTCBB:FBAK) net income for fourth quarter 2012 was $9.4 million or $28.82 per share. This compares to $8.3 million or $25.02 per share for the same quarter in 2011. Year-to-date net income of $40.0 million or $122.51 per share compares with $34.8 million or $105.17 per share through the fourth quarter 2011. The increase in fourth quarter net income was due in large part to reduction in non-interest expenses by $3.5 million or 15% compared to the same quarter in 2011. Interest income for fourth quarter was $0.9 million lower compared to the same quarter in 2011. Improvements in loan interest income were offset by larger declines in investment interest income. Year-to-date net income for 2012 improved due to credit quality improvements which have both increased interest income through recoveries on nonaccrual loans and reduced the provision requirements for loan losses. The year-to-date average yield on earning assets decreased 31 basis points to 3.41% from 3.72% for the comparable period in 2011. Year-to-date average cost of interest bearing liabilities improved by 3 basis points to 0.14% from 0.17%. 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.