First National Bank reports higher earnings

Posted: Sunday, July 09, 2000

ANCHORAGE (AP) -- First National Bank, the state's second-largest bank, earned slightly more in the second quarter compared to the same period in 1999, the company said Friday.

First National had profits of $7.2 million in the quarter that ended June 30, said bank president Dan Cuddy. That compared to $6.9 million in the second quarter last year.

The per-share earnings were significantly higher this year -- $19.66 compared to $17.40 last year.

Loans were up more than 10 percent in the three-month period, while deposits were down less than 1 percent, Cuddy said. The bank's assets remained steady at $1.54 billion.

First National, headquartered in Anchorage, operates 27 branches in 16 Alaska communities.

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