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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Anchorage, Juneau, Phoenix, Fairbanks, and Ketchikan among others. First National Bank Alaska has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First National Bank Alaska is typically an average fee lendor.


Originations

590

Origination Dollar Volume (All Markets)

$207,750,000

Employee count

601

Relative Rate

First National Bank Alaska's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

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

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

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, First National Bank Alaska's most frequently originated loan type of loans were Conventional, with 546 originations. Their 2nd most popular type is VA, with 23 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, First National Bank Alaska's most frequently cited loan purpose of loans were Refi, with 233 originations. The 2nd most popular reason of loans were 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 the 2021, First National Bank Alaska's most frequently cited loan length of loans were 30 Year, with 388 originations. The 2nd most popular length of loans were 15 Year, with 131 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 178 $53,540,000 $300,787
$2k-3k 175 $39,165,000 $223,800
$1k-2k 117 $18,155,000 $155,171
$5k+ 55 $25,295,000 $459,909
$<1k 29 $7,365,000 $253,966

$5,502 of loans were First National Bank Alaska's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 178 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 of loans were 3.07%, while their most frequently originated rate bucket of loans were 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 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
94.33%

First National Bank Alaska has an average approval rate.

Pick Rate

Approvals leading to origination
67.85%

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 528 First Street Cordova, AK 99574 Full Service B&M $55,346
First National Bank Alaska 5850 Westover Avenue Jber, AK 99506 Full Service B&M $20,655
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 8725 Old Seward Hwy Anchorage, AK 99515 Full Service B&M $253,974
First National Bank Alaska .5 Mile Healy Spur Road Healy, AK 99743 Full Service B&M $33,941
First National Bank Alaska 8990 Glacier Highway Juneau, AK 99801 Full Service B&M $72,251
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 44501 Sterling Highway Soldotna, AK 99669 Full Service B&M $156,147
First National Bank Alaska Mile 187 Glenn Highway, Suite C, P.O. Box 85 Glennallen, AK 99588 Full Service B&M $33,225
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

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