First National Bank Alaska Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 25490089V5DJHFQMOA03

Tax ID: 92-0006595

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First National Bank Alaska is a smaller bank specializing in 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, Fairbanks, and Juneau among others. We have data for 4 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	6.26%	12/3/24
30 Year Conventional Refi	6.35%	12/3/24
30 Year Cash-out Refi	7.10%	12/3/24
30 Year FHA Purchase	6.68%	12/3/24
30 Year FHA Refi	6.27%	12/3/24
30 Year VA Purchase	5.96%	12/3/24
30 Year VA Refi	6.27%	12/3/24
30 Year USDA Purchase	6.60%	12/3/24
15 Year Conventional Purchase	6.38%	12/3/24
15 Year Conventional Refi	6.33%	12/3/24
15 Year Cash-out Refi	6.33%	12/3/24
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.

First National Bank Alaska Mortgage Calculator

Purchase Price:

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% Deposit:

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This is not an official calculator from First National Bank Alaska. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

468

Origination Dollar Volume (All Markets)

$125,040,000

Employee count

645

Awards

First National Bank Alaska 30 Year Conventional Loans bronze

First National Bank Alaska VA Loans bronze

Show all (2) awards

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)	253	$72,065,000	$284,842	$5,655	4.75%
Outside of Metro Areas	171	$43,105,000	$252,076	$5,218	4.78%
FAIRBANKS, AK (FHA\|USDA\|VA)	37	$8,035,000	$217,162	$5,430	4.73%
Juneau, AK (FHA\|USDA\|VA)	7	$1,835,000	$262,143	$5,211	4.66%

First National Bank Alaska's top markets include Anchorage, Fairbanks, and Juneau among others.

Their top states include:

Alaska (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.

TRUE NORTH FEDERAL CREDIT UNION
Similarity Rank: 40

MATANUSKA VALLEY FEDERAL CREDIT UNION
Similarity Rank: 56

CREDIT UNION 1
Similarity Rank: 125

GUARANTY MORTGAGE SERVICE, INC.
Similarity Rank: 166

First National Bank Alaska
Similarity Rank: 360

Denali Federal Credit Union
Similarity Rank: 602

Chickasaw Community Bank
Similarity Rank: 1030

RESIDENTIAL MORTGAGE, LLC
Similarity Rank: 1372

Alaska USA Mortgage Company LLC
Similarity Rank: 1827

BAY-VALLEY MORTGAGE GROUP
Similarity Rank: 2400

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	409	$110,015,000	$268,985	$4,989	4.81%
VA	27	$7,385,000	$273,519	$8,633	4.26%
FHA	22	$5,690,000	$258,636	$9,359	4.50%
USDA	10	$1,950,000	$195,000	$5,081	4.64%

For 2018, First National Bank Alaska's most frequently originated type of loan was Conventional, with 409 originations. Their 2nd most popular type was VA, with 27 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	330	$91,950,000	$278,636	$5,499	4.68%
Refi	82	$20,630,000	$251,585	$5,425	5.08%
Home Improvement	32	$6,940,000	$216,875	$5,142	5.05%
Cash Out Refi	13	$2,855,000	$219,615	$5,560	4.70%
Other	11	$2,665,000	$242,273	$5,384	3.95%

For 2018, First National Bank Alaska's most frequently cited loan purpose was Home Purchase, with 330 originations. The 2nd most popular reason was Refi, with 82 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	335	$88,955,000	$265,537	$5,567	4.61%
15 Year	84	$21,760,000	$259,048	$4,975	4.94%
20 Year	21	$8,145,000	$387,857	$5,993	5.54%
10 Year	13	$2,405,000	$185,000	$4,060	5.22%
1 Year	8	$1,690,000	$211,250	$0	7.00%
Other	7	$2,085,000	$297,857	$0	3.95%

For 2018, First National Bank Alaska's most frequently cited loan duration was 30 Year, with 335 originations. The 2nd most popular length was 15 Year, with 84 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$2k-3k	139	$30,275,000	$217,806
$1k-2k	100	$16,020,000	$160,200
$3k-4k	84	$25,370,000	$302,024
$4k-5k	34	$12,960,000	$381,176
$5k+	25	$12,465,000	$498,600
$<1k	13	$3,675,000	$282,692

First National Bank Alaska's average total fees were $5,567, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 139 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	282	$76,140,000	$270,000
5-6%	81	$22,565,000	$278,580
3-4%	67	$16,985,000	$253,507
6-7%	29	$7,995,000	$275,690
Over 8%	4	$440,000	$110,000
7-8%	3	$595,000	$198,333
2.5-3%	2	$320,000	$160,000

During 2018, First National Bank Alaska's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 4-5%, with 282 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	245	$67,945,000	$277,327	$6,146	4.67%
$100k-200k	147	$22,485,000	$152,959	$3,763	4.80%
$400k-600k	30	$13,860,000	$462,000	$7,821	4.66%
$100,000 or less	26	$1,940,000	$74,615	$2,946	5.27%
$600k-1MM	16	$11,660,000	$728,750	$10,308	4.98%
$1MM+	4	$7,150,000	$1,787,500	$12,433	5.36%

2018 saw First National Bank Alaska place emphasis on $200k-400k loans with 245 originations, totaling $67,945,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	97	$20,495,000	$211,289	$5,085	4.60%
$75k-100k	89	$21,885,000	$245,899	$5,843	4.56%
$100k-150k	85	$23,995,000	$282,294	$5,868	4.59%
$50k or less	58	$8,770,000	$151,207	$3,902	4.49%
$150k-250k	51	$15,015,000	$294,412	$5,986	4.83%
$250k+	41	$15,395,000	$375,488	$7,375	5.13%

First National Bank Alaska lent most frequently to those with incomes in the $50k-75k range, with 97 originations. The second most popular income band? $75k-100k, with 89 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	83	$19,845,000	$239,096	$5,258	4.53%
30-36%	71	$19,545,000	$275,282	$5,259	4.51%
<20%	24	$5,240,000	$218,333	$4,691	5.07%
40%	24	$5,570,000	$232,083	$5,413	4.65%
49%	22	$5,600,000	$254,545	$4,810	4.66%
46%	20	$5,460,000	$273,000	$6,464	4.78%
43%	19	$5,085,000	$267,632	$5,449	4.60%
48%	18	$4,880,000	$271,111	$5,585	4.63%
36%	18	$4,680,000	$260,000	$5,944	4.47%
42%	16	$5,030,000	$314,375	$5,582	4.55%
38%	16	$3,660,000	$228,750	$5,283	4.45%
41%	16	$3,920,000	$245,000	$6,360	4.41%
37%	15	$3,275,000	$218,333	$4,798	4.47%
44%	15	$4,405,000	$293,667	$6,584	4.34%
45%	13	$3,965,000	$305,000	$7,466	4.79%
39%	12	$2,340,000	$195,000	$4,386	4.90%
47%	12	$2,910,000	$242,500	$5,721	4.36%
50-60%	2	$720,000	$360,000	$4,714	5.25%
>60%	1	$155,000	$155,000	$0	5.50%

First National Bank Alaska lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 71 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	297	$76,315,000	$256,953	$5,422	4.72%
Not provided	101	$25,655,000	$254,010	$5,557	4.55%
Not applicable	33	$14,515,000	$439,848	$0	6.05%
American Indian	20	$4,120,000	$206,000	$5,762	4.54%
Asian	14	$3,550,000	$253,571	$5,178	4.43%
Black	2	$720,000	$360,000	$5,928	4.75%
Native Hawaiian or Islander	1	$165,000	$165,000	$5,798	4.13%

Approval Rates

Total approvals of all applications
92.47%

First National Bank Alaska has an average approval rate.

Pick Rate

Approvals leading to origination
66.24%

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
4349.05	1	$355,000	$355,000
NA	467	$124,685,000	$266,991

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	17	$11,905,000	$700,294
Single Family (1-4 Units):Site-Built	451	$113,135,000	$250,854

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	26	$4,400,000	$169,231	$4,080	4.74%
40-60%	58	$13,680,000	$235,862	$5,017	4.57%
60-80%	185	$50,555,000	$273,270	$5,062	4.98%
80-100%	180	$51,780,000	$287,667	$5,753	4.53%
Over 100%	11	$3,325,000	$302,273	$10,855	4.45%
Under 20%	7	$985,000	$140,714	$0	6.41%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First National Bank Alaska	101 W. 36th Avenue Anchorage, AK 99510	Full Service B&M	$316,513
First National Bank Alaska	.5 Mile Healy Spur Road Healy, AK 99743	Full Service B&M	$21,067
First National Bank Alaska	101 Egan Ave Valdez, AK 99686	Full Service B&M	$45,007
First National Bank Alaska	1100 Muldoon Road Anchorage, AK 99504	Full Service B&M	$42,648
First National Bank Alaska	11408 Kenai Spur Hwy Kenai, AK 99611	Full Service B&M	$81,231
First National Bank Alaska	11412 Business Boulevard Eagle River, AK 99577	Full Service B&M	$75,253
First National Bank Alaska	1210 W Northern Lights Blvd Anchorage, AK 99503	Full Service B&M	$101,043
First National Bank Alaska	123 Main St Haines, AK 99827	Full Service B&M	$52,735
First National Bank Alaska	1300 Washington Dr Fairbanks, AK 99709	Full Service B&M	$119,761
First National Bank Alaska	1821 Gambell St Anchorage, AK 99501	Full Service B&M	$101,276
First National Bank Alaska	201 West 36th Avenue Anchorage, AK 99503	Full Service B&M	$341,979
First National Bank Alaska	218 Center Avenue Kodiak, AK 99615	Full Service B&M	$63,157
First National Bank Alaska	303 4th Ave Seward, AK 99664	Full Service B&M	$37,553
First National Bank Alaska	303 West Evergreen Avenue Palmer, AK 99645	Full Service B&M	$70,642
First National Bank Alaska	318 Lincoln Street Sitka, AK 99835	Full Service B&M	$58,489
First National Bank Alaska	3650 Piper Street, Suite 100 Anchorage, AK 99508	Full Service B&M	$43,280
First National Bank Alaska	3655 Heath Street Homer, AK 99603	Full Service B&M	$79,615
First National Bank Alaska	430 Merhar Ave Fairbanks, AK 99701	Full Service B&M	$24,603
First National Bank Alaska	44501 Sterling Highway Soldotna, AK 99669	Full Service B&M	$105,547
First National Bank Alaska	528 First Street Cordova, AK 99574	Full Service B&M	$33,571
First National Bank Alaska	5305 East Northern Lights Boulevard Anchorage, AK 99504	Full Service B&M	$74,072
First National Bank Alaska	5850 Westover Avenue Jber, AK 99506	Full Service B&M	$16,678
First National Bank Alaska	700 Front Street Bethel, AK 99559	Full Service B&M	$58,225
First National Bank Alaska	775 E Parks Hwy Wasilla, AK 99654	Full Service B&M	$107,783
First National Bank Alaska	840 W 10th St Juneau, AK 99801	Full Service B&M	$87,948
First National Bank Alaska	8725 Old Seward Hwy Anchorage, AK 99515	Full Service B&M	$177,296
First National Bank Alaska	8990 Glacier Highway Juneau, AK 99801	Full Service B&M	$59,372
First National Bank Alaska	Mile 187 Glenn Highway, Suite C Glennallen, AK 99588	Full Service B&M	$17,057

For 2018, First National Bank Alaska had 28 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$143,073
Net interest income	$131,819
Total noninterest income	$28,628
Gross Fiduciary activities income	$1,703
Service charges on deposit accounts	$5,171
Trading account gains and fees	$0
Additional Noninterest Income	$21,754
Pre-tax net operating income	$72,693
Securities gains (or losses, -)	$-1,950
Income before extraordinary items	$54,102
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$54,102
Minority interest net income	$0
Net income	$54,102
Sale, conversion, retirement of capital stock, net	$-477
Net operating income	$55,642

First National Bank Alaska's gross interest income from loans was $143,073,000.
First National Bank Alaska's net interest income from loans was $131,819,000.
First National Bank Alaska's fee based income from loans was $5,171,000.
First National Bank Alaska's net income from loans was $54,102,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$11,254
Provision for credit losses	$1,993
Total noninterest expense	$85,761
Salaries and employee benefits	$55,186
Premises and equipment expense	$10,522
Additional noninterest expense	$20,053
Applicable income taxes	$16,641
Net charge-offs	$418
Cash dividends	$36,134

First National Bank Alaska's interest expense for loans was $11,254,000.
First National Bank Alaska's payroll and benefits expense were $55,186,000.
First National Bank Alaska's property, plant and equipment expenses $10,522,000.

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	0.0%
All other family	1.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.4%
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	$2,420,293
Deposits held in domestic offices	$2,420,293
Deposits by Individuals, partnerships, and corporations	$2,356,948
Deposits by U.S. Government	$1,212
Deposits by States and political subdivisions in the U.S.	$61,773
Deposits by Commercial banks and other depository institutions in U.S.	$360
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$335,609
Demand deposits	$210,016
Nontransaction accounts	$2,084,684
Money market deposit accounts (MMDAs)	$1,419,215
Other savings deposits (excluding MMDAs)	$548,764
Total time deposits	$116,705
Total time and savings deposits	$2,210,277
Noninterest-bearing deposits	$1,291,866
Interest-bearing deposits	$1,128,427
Retail deposits	$2,375,894
IRAs and Keogh plan accounts	$19,981
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$3,753,466
Cash & Balances due from depository institutions	$108,557
Interest-bearing balances	$86,719
Total securities	$1,597,992
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,953,932
Loan and leases loss allowance	$19,400
Trading account assets	$0
Bank premises and fixed assets	$46,673
Other real estate owned	$1,625
Goodwill and other intangibles	$2,740
All other assets	$41,947

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$3,753,466
Total Liabilities	$3,246,615
Total deposits	$2,420,293
Interest-bearing deposits	$1,128,427
Deposits held in domestic offices	$2,420,293
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$809,020
Trading liabilities	$0
Other borrowed funds	$227
Subordinated debt	$0
All other liabilities	$17,075

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,953,932
Loan and leases loss allowance	$19,400
Total loans and leases (domestic)	$1,973,332
All real estate loans	$1,514,340
Real estate loans in domestic offices	$1,514,340
Construction and development loans	$335,157
Residential 1-4 family construction	$67,418
Other construction, all land development and other land	$267,739
Loans secured by nonfarm nonresidential properties	$910,305
Nonfarm nonresidential secured by owner-occupied properties	$395,565
Commercial real estate & other non-farm, non-residential	$514,740
Multifamily residential real estate	$99,484
1-4 family residential loans	$168,578
Farmland loans	$816
Loans held in foreign offices	$0
Farm loans	$61,276
Commercial and industrial loans	$354,423
To non-U.S. addressees	$0
Loans to individuals	$19,008
Credit card loans	$2,484
Related Plans	$7,197
Consumer Auto Loans	$2,490
Other loans to individuals	$6,837
All other loans & leases	$24,285
Loans to foreign governments and official institutions	$0
Other loans	$3,121
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$645
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$23,855
Non 1-4 family restructured loans & leases	$22,802
Total loans and leases (foreign)	$0

First National Bank Alaska had $1,953,932,000 of loans outstanding in 2018. $1,514,340,000 of loans were in real estate loans. $335,157,000 of loans were in development loans. $99,484,000 of loans were in multifamily mortgage loans. $168,578,000 of loans were in 1-4 family mortgage loans. $61,276,000 of loans were in farm loans. $2,484,000 of loans were in credit card loans. $2,490,000 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	1,006	$220,484	$219,169
Nonfarm, nonresidential loans - <$100k	143	$6,916	$48,364
Nonfarm, nonresidential loans - $100-250k	432	$54,557	$126,289
Nonfarm, nonresidential loans - $250k-1MM	431	$159,011	$368,935
Commercial & Industrial, US addressed loans - <$1MM	748	$85,880	$114,813
Commercial & Industrial, US addressed loans - <$100k	375	$11,269	$30,051
Commercial & Industrial, US addressed loans - $100-250k	181	$18,044	$99,691
Commercial & Industrial, US addressed loans - $250k-1MM	192	$56,567	$294,620
Farmland loans - <$1MM	1	$23	$23,000
Farmland loans - <$100k	1	$23	$23,000
Agriculture operations loans - <$1MM	139	$17,005	$122,338
Agriculture operations loans - <$100k	61	$2,494	$40,885
Agriculture operations loans - $100-250k	46	$5,752	$125,043
Agriculture operations loans - $250k-1MM	32	$8,759	$273,719