First National Bank Alaska Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 25490089V5DJHFQMOA03

Tax ID: 92-0006595

4.5 stars - out of 5 stars, based on 24 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    First National Bank Alaska is a smaller bank specializing in Refi and Home Purchase loans. First National Bank Alaska has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Anchorage, Juneau, Phoenix, Fairbanks, and Ketchikan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National Bank Alaska has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First National Bank Alaska is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 1/29/23
    30 Year Conventional Refi 6.58% 1/29/23
    30 Year Cash-out Refi 6.78% 1/29/23
    30 Year FHA Purchase 7.29% 1/29/23
    30 Year FHA Refi 7.32% 1/29/23
    30 Year VA Purchase 6.07% 1/29/23
    30 Year VA Refi 5.99% 1/29/23
    30 Year USDA Purchase 6.74% 1/29/23
    30 Year USDA Refi 6.27% 1/29/23
    15 Year Conventional Purchase 6.13% 1/29/23
    15 Year Conventional Refi 6.07% 1/29/23
    15 Year Cash-out Refi 6.07% 1/29/23
    15 Year FHA Refi 6.79% 1/29/23
    15 Year VA Purchase 5.68% 1/29/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    590

    Origination Dollar Volume (All Markets)

    $207,750,000

    Employee count

    601

    Relative Rate

    First National Bank Alaska's average 30 year fixed mortgage rate was 3.07%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.08%.

    Relative Fees (Closing Costs)

    First National Bank Alaska's average total fees/closing costs for a 30 year fixed rate mortgage were $5,502.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ANCHORAGE, AK (FHA|USDA|VA) 327 $98,195,000 $300,291 $5,103 3.04%
    Outside of Metro Areas 219 $55,455,000 $253,219 $5,316 3.03%
    Juneau, AK (FHA|USDA|VA) 15 $31,845,000 $2,123,000 $7,598 3.24%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $14,965,000 $14,965,000 $0 3.75%
    FAIRBANKS, AK (FHA|USDA|VA) 27 $6,905,000 $255,741 $6,127 3.02%
    Ketchikan, AK (FHA|USDA|VA) 1 $385,000 $385,000 $7,286 3.25%
    First National Bank Alaska's top markets include Anchorage, Juneau, Phoenix, Fairbanks, and Ketchikan among others.

    Their top states include:
  • Alaska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First National Bank Alaska based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Titan Mortgage Capital, Inc.
    Similarity Rank: 14
    TRUE NORTH FEDERAL CREDIT UNION
    Similarity Rank: 60
    GUARANTY MORTGAGE SERVICE, INC.
    Similarity Rank: 216
    CREDIT UNION 1
    Similarity Rank: 450
    First National Bank Alaska
    Similarity Rank: 1008
    Wyndham Capital Mortgage, Inc.
    Similarity Rank: 1238
    Chickasaw Community Bank
    Similarity Rank: 2860
    CRESCENT MORTGAGE COMPANY
    Similarity Rank: 4164
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 4940

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 546 $194,680,000 $356,557 $5,037 3.07%
    VA 23 $7,415,000 $322,391 $7,531 2.59%
    FHA 18 $4,760,000 $264,444 $9,025 2.85%
    USDA 3 $895,000 $298,333 $7,302 2.79%

    For 2021, First National Bank Alaska's most frequently originated type of loan was Conventional, with 546 originations. Their 2nd most popular type was VA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 233 $63,045,000 $270,579 $4,682 2.93%
    Home Purchase 228 $113,980,000 $499,912 $5,969 3.09%
    Cash Out Refi 83 $20,345,000 $245,120 $5,307 3.04%
    Home Improvement 42 $9,650,000 $229,762 $5,269 3.40%
    Other 4 $730,000 $182,500 $2,396 3.06%

    For 2021, First National Bank Alaska's most frequently cited loan purpose was Refi, with 233 originations. The 2nd most popular reason was Home Purchase, with 228 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 388 $107,660,000 $277,474 $5,502 3.07%
    15 Year 131 $35,255,000 $269,122 $4,954 2.73%
    20 Year 41 $17,885,000 $436,220 $5,162 3.66%
    10 Year 18 $2,830,000 $157,222 $3,723 2.63%
    Other 9 $28,265,000 $3,140,556 $2,086 3.92%
    1 Year 2 $890,000 $445,000 $0 5.38%
    5 Year 1 $14,965,000 $14,965,000 $0 3.75%

    For 2021, First National Bank Alaska's most frequently cited loan duration was 30 Year, with 388 originations. The 2nd most popular length was 15 Year, with 131 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 175 $39,165,000 $223,800
    $3k-4k 134 $37,510,000 $279,925
    $1k-2k 117 $18,155,000 $155,171
    $5k+ 55 $25,295,000 $459,909
    $4k-5k 44 $16,030,000 $364,318
    $<1k 29 $7,365,000 $253,966

    First National Bank Alaska's average total fees were $5,502, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 175 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 264 $70,910,000 $268,598
    3-4% 164 $84,480,000 $515,122
    <2.5% 117 $27,025,000 $230,983
    4-5% 29 $20,195,000 $696,379
    5-6% 16 $5,140,000 $321,250

    During 2021, First National Bank Alaska's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 264 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 310 $86,510,000 $279,065 $5,693 2.97%
    $100k-200k 166 $25,670,000 $154,639 $3,798 2.93%
    $400k-600k 53 $25,585,000 $482,736 $7,514 3.20%
    $100,000 or less 32 $2,390,000 $74,688 $2,847 3.34%
    $600k-1MM 20 $14,240,000 $712,000 $11,686 3.63%
    $1MM+ 9 $53,355,000 $5,928,333 $15,560 4.28%

    2021 saw First National Bank Alaska place emphasis on $200k-400k loans with 310 originations, totaling $86,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 129 $27,255,000 $211,279 $4,804 2.95%
    $100k-150k 126 $37,110,000 $294,524 $6,093 2.96%
    $75k-100k 117 $28,015,000 $239,444 $5,113 2.90%
    $150k-250k 71 $23,565,000 $331,901 $6,182 2.99%
    $50k or less 66 $10,480,000 $158,788 $4,015 3.06%
    $250k+ 25 $13,005,000 $520,200 $8,319 3.02%

    First National Bank Alaska lent most frequently to those with incomes in the $50k-75k range, with 129 originations. The second most popular income band? $100k-150k, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $33,120,000 $247,164 $4,796 2.84%
    30-36% 92 $24,600,000 $267,391 $5,470 2.83%
    <20% 74 $17,620,000 $238,108 $4,849 2.80%
    41% 23 $6,285,000 $273,261 $5,926 3.14%
    44% 23 $6,035,000 $262,391 $5,716 3.03%
    43% 22 $6,080,000 $276,364 $5,829 2.98%
    38% 21 $5,655,000 $269,286 $5,370 3.07%
    39% 20 $5,230,000 $261,500 $4,939 2.88%
    40% 20 $5,660,000 $283,000 $4,503 3.01%
    37% 19 $4,555,000 $239,737 $5,411 2.80%
    42% 18 $5,350,000 $297,222 $6,070 3.19%
    48% 17 $4,375,000 $257,353 $5,073 2.95%
    46% 15 $3,915,000 $261,000 $5,982 3.18%
    36% 15 $4,865,000 $324,333 $6,840 2.86%
    49% 14 $3,510,000 $250,714 $5,161 3.14%
    47% 13 $3,105,000 $238,846 $6,512 3.00%
    45% 11 $3,235,000 $294,091 $6,202 2.94%
    50-60% 1 $135,000 $135,000 $4,012 3.13%
    >60% 1 $105,000 $105,000 $2,337 2.88%

    First National Bank Alaska lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 364 $94,500,000 $259,615 $5,352 2.99%
    Not applicable 25 $59,815,000 $2,392,600 $0 4.84%
    Not provided 157 $40,585,000 $258,503 $5,211 2.97%
    American Indian 21 $5,165,000 $245,952 $4,416 2.83%
    Asian 13 $4,865,000 $374,231 $5,717 2.57%
    Black 7 $1,865,000 $266,429 $5,451 2.91%
    Japanese 1 $455,000 $455,000 $5,350 2.00%
    Native Hawaiian or Islander 1 $305,000 $305,000 $5,558 3.13%
    Other Asian 1 $195,000 $195,000 $3,087 2.75%

    Approval Rates

    Total approvals of all applications
    95.76%

    First National Bank Alaska has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    67.29%

    First National Bank Alaska has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 590 $207,750,000 $352,119

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    590 $207,750,000 $352,119

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $6,615,000 $129,706 $3,448 2.75%
    40-60% 114 $24,890,000 $218,333 $4,685 2.88%
    60-80% 245 $105,485,000 $430,551 $5,371 3.22%
    80-100% 167 $52,505,000 $314,401 $5,891 2.92%
    Over 100% 5 $1,685,000 $337,000 $13,846 2.75%
    Under 20% 8 $16,570,000 $2,071,250 $2,625 4.55%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
    FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First National Bank Alaska 5850 Westover Avenue Jber, AK 99506 Full Service B&M $20,655
    First National Bank Alaska 528 First Street Cordova, AK 99574 Full Service B&M $55,346
    First National Bank Alaska 700 Front Street Bethel, AK 99559 Full Service B&M $212,676
    First National Bank Alaska 840 W 10th St Juneau, AK 99801 Full Service B&M $112,654
    First National Bank Alaska 775 E Parks Hwy Wasilla, AK 99654 Full Service B&M $201,030
    First National Bank Alaska 44501 Sterling Highway Soldotna, AK 99669 Full Service B&M $156,147
    First National Bank Alaska 8725 Old Seward Hwy Anchorage, AK 99515 Full Service B&M $253,974
    First National Bank Alaska 8990 Glacier Highway Juneau, AK 99801 Full Service B&M $72,251
    First National Bank Alaska .5 Mile Healy Spur Road Healy, AK 99743 Full Service B&M $33,941
    First National Bank Alaska 101 Egan Ave Valdez, AK 99686 Full Service B&M $65,064
    First National Bank Alaska 1100 Muldoon Road Anchorage, AK 99504 Full Service B&M $145,021
    First National Bank Alaska 11408 Kenai Spur Hwy Kenai, AK 99611 Full Service B&M $129,963
    First National Bank Alaska 11412 Business Boulevard Eagle River, AK 99577 Full Service B&M $108,899
    First National Bank Alaska 1210 W Northern Lights Blvd Anchorage, AK 99503 Full Service B&M $104,945
    First National Bank Alaska 123 Main St Haines, AK 99827 Full Service B&M $80,903
    First National Bank Alaska 1300 Washington Dr Fairbanks, AK 99709 Full Service B&M $145,449
    First National Bank Alaska 1821 Gambell St Anchorage, AK 99501 Full Service B&M $165,331
    First National Bank Alaska 201 West 36th Avenue Anchorage, AK 99503 Full Service B&M $609,397
    First National Bank Alaska 218 Center Avenue Kodiak, AK 99615 Full Service B&M $204,882
    First National Bank Alaska 303 4th Ave Seward, AK 99664 Full Service B&M $64,923
    First National Bank Alaska 303 West Evergreen Avenue Palmer, AK 99645 Full Service B&M $125,937
    First National Bank Alaska 318 Lincoln Street Sitka, AK 99835 Full Service B&M $100,391
    First National Bank Alaska 360 K St, Ste 100 Anchorage, AK 99501 Full Service B&M $405,352
    First National Bank Alaska 3650 Piper Street, Suite 100 Anchorage, AK 99508 Full Service B&M $73,955
    First National Bank Alaska 3655 Heath Street Homer, AK 99603 Full Service B&M $173,327
    First National Bank Alaska 430 Merhar Ave Fairbanks, AK 99701 Full Service B&M $55,079
    First National Bank Alaska Mile 187 Glenn Highway, Suite C, P.O. Box 85 Glennallen, AK 99588 Full Service B&M $33,225

    For 2021, First National Bank Alaska had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $147,182
    Net interest income $145,601
    Total noninterest income $26,987
    Gross Fiduciary activities income $2,007
    Service charges on deposit accounts $4,036
    Trading account gains and fees $0
    Additional Noninterest Income $20,944
    Pre-tax net operating income $77,868
    Securities gains (or losses, -) $10
    Income before extraordinary items $58,414
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $58,414
    Minority interest net income $0
    Net income $58,414
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $58,406

    First National Bank Alaska's gross interest income from loans was $147,182,000.
    First National Bank Alaska's net interest income from loans was $145,601,000.
    First National Bank Alaska's fee based income from loans was $4,036,000.
    First National Bank Alaska's net income from loans was $58,414,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,581
    Provision for credit losses $2,427
    Total noninterest expense $92,293
    Salaries and employee benefits $63,207
    Premises and equipment expense $9,321
    Additional noninterest expense $19,765
    Applicable income taxes $19,464
    Net charge-offs $1,077
    Cash dividends $50,670

    First National Bank Alaska's interest expense for loans was $1,581,000.
    First National Bank Alaska's payroll and benefits expense were $63,207,000.
    First National Bank Alaska's property, plant and equipment expenses $9,321,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.5%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,216,924
    Deposits held in domestic offices $4,216,924
    Deposits by Individuals, partnerships, and corporations $3,882,337
    Deposits by U.S. Government $124
    Deposits by States and political subdivisions in the U.S. $334,419
    Deposits by Commercial banks and other depository institutions in U.S. $44
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $2,930,084
    Demand deposits $2,930,084
    Nontransaction accounts $1,286,840
    Money market deposit accounts (MMDAs) $144,944
    Other savings deposits (excluding MMDAs) $1,024,693
    Total time deposits $117,203
    Total time and savings deposits $1,286,840
    Noninterest-bearing deposits $2,502,374
    Interest-bearing deposits $1,714,550
    Retail deposits $4,176,052
    IRAs and Keogh plan accounts $20,118
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $5,581,340
    Cash & Balances due from depository institutions $531,956
    Interest-bearing balances $504,518
    Total securities $2,842,950
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,112,707
    Loan and leases loss allowance $22,900
    Trading account assets $0
    Bank premises and fixed assets $49,956
    Other real estate owned $29
    Goodwill and other intangibles $3,416
    All other assets $40,326

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $5,581,340
    Total Liabilities $5,026,810
    Total deposits $4,216,924
    Interest-bearing deposits $1,714,550
    Deposits held in domestic offices $4,216,924
    % insured (estimated) $54
    Federal funds purchased and repurchase agreements $781,700
    Trading liabilities $0
    Other borrowed funds $12
    Subordinated debt $0
    All other liabilities $28,174

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,112,707
    Loan and leases loss allowance $22,900
    Total loans and leases (domestic) $2,135,607
    All real estate loans $1,597,493
    Real estate loans in domestic offices $1,597,493
    Construction and development loans $289,390
    Residential 1-4 family construction $47,532
    Other construction, all land development and other land $241,858
    Loans secured by nonfarm nonresidential properties $1,091,013
    Nonfarm nonresidential secured by owner-occupied properties $462,574
    Commercial real estate & other non-farm, non-residential $628,439
    Multifamily residential real estate $79,099
    1-4 family residential loans $137,148
    Farmland loans $843
    Loans held in foreign offices $0
    Farm loans $41,957
    Commercial and industrial loans $449,062
    To non-U.S. addressees $16,381
    Loans to individuals $15,117
    Credit card loans $1,754
    Related Plans $4,832
    Consumer Auto Loans $2,365
    Other loans to individuals $6,166
    All other loans & leases $31,978
    Loans to foreign governments and official institutions $0
    Other loans $5,812
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $192
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,525
    Non 1-4 family restructured loans & leases $6,002
    Total loans and leases (foreign) $0

    First National Bank Alaska had $2,112,707,000 of loans outstanding in 2021. $1,597,493,000 of loans were in real estate loans. $289,390,000 of loans were in development loans. $79,099,000 of loans were in multifamily mortgage loans. $137,148,000 of loans were in 1-4 family mortgage loans. $41,957,000 of loans were in farm loans. $1,754,000 of loans were in credit card loans. $2,365,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 815 $196,199 $240,735
    Nonfarm, nonresidential loans - <$100k 104 $4,914 $47,250
    Nonfarm, nonresidential loans - $100-250k 302 $36,880 $122,119
    Nonfarm, nonresidential loans - $250k-1MM 409 $154,405 $377,518
    Commercial & Industrial, US addressed loans - <$1MM 1,732 $165,302 $95,440
    Commercial & Industrial, US addressed loans - <$100k 1,177 $31,913 $27,114
    Commercial & Industrial, US addressed loans - $100-250k 278 $36,759 $132,227
    Commercial & Industrial, US addressed loans - $250k-1MM 277 $96,630 $348,845
    Farmland loans - <$1MM 1 $191 $191,000
    Farmland loans - $100-250k 1 $191 $191,000
    Agriculture operations loans - <$1MM 127 $15,179 $119,520
    Agriculture operations loans - <$100k 40 $1,629 $40,725
    Agriculture operations loans - $100-250k 58 $6,707 $115,638
    Agriculture operations loans - $250k-1MM 29 $6,843 $235,966