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First National Bank Alaska Q3 profit rises 18%

By Reuters News


Overview

  • U.S. community bank's Q3 net income and EPS rose from a year earlier

  • Net interest margin improved to 4.05%, driven by higher yields and loan growth

  • Asset quality strong, with lower nonperforming loans and a benefit in provision for credit losses


Outlook

  • Company did not provide specific guidance for future quarters or full-year results in its press release


Result Drivers

  • LOAN INTEREST INCOME - Co said higher interest and fees on loans contributed to improved results

  • INVESTMENT SECURITIES YIELD - Higher yields on investment securities boosted interest income, per co

  • OPERATING EXPENSES - Higher salaries and increased headcount drove up noninterest expenses


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$7.95

Q3 Net Income

$25.20 mln

Q3 Net Interest Margin

4.05%

Q3 ROE

15.49%


Reuters Recommended Reads

  • Nov 4 - National Australia Bank's full-year cash profit falls over 13%

  • Nov 3 - State Bank of India quarterly profit rises; to boost cybersecurity after breach

  • Nov 3 - Brazil's Itau keeps bad-loan ratio contained, meets profit forecasts


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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