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 and Refi 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%	11/22/24
30 Year Conventional Refi	6.35%	11/22/24
30 Year Cash-out Refi	7.10%	11/22/24
30 Year FHA Purchase	6.68%	11/22/24
30 Year FHA Refi	6.27%	11/22/24
30 Year VA Purchase	5.96%	11/22/24
30 Year VA Refi	6.27%	11/22/24
30 Year USDA Purchase	6.60%	11/22/24
15 Year Conventional Purchase	6.38%	11/22/24
15 Year Conventional Refi	6.33%	11/22/24
15 Year Cash-out Refi	6.33%	11/22/24
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

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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

483

Origination Dollar Volume (All Markets)

$130,085,000

Employee count

646

Awards

First National Bank Alaska 30 Year Conventional Loans silver

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)	251	$70,245,000	$279,861	$5,208	4.08%
Outside of Metro Areas	188	$46,610,000	$247,926	$4,639	4.30%
FAIRBANKS, AK (FHA\|USDA\|VA)	35	$10,315,000	$294,714	$4,823	4.69%
Juneau, AK (FHA\|USDA\|VA)	9	$2,915,000	$323,889	$6,768	3.90%

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.

MATANUSKA VALLEY FEDERAL CREDIT UNION
Similarity Rank: 48

TRUE NORTH FEDERAL CREDIT UNION
Similarity Rank: 72

CREDIT UNION 1
Similarity Rank: 150

First National Bank Alaska
Similarity Rank: 372

GUARANTY MORTGAGE SERVICE, INC.
Similarity Rank: 456

Alaska USA Mortgage Company LLC
Similarity Rank: 2088

RESIDENTIAL MORTGAGE, LLC
Similarity Rank: 2247

BAY-VALLEY MORTGAGE GROUP
Similarity Rank: 2256

Chickasaw Community Bank
Similarity Rank: 2380

NuVision Federal Credit Union
Similarity Rank: 3157

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	446	$120,740,000	$270,717	$4,745	4.24%
VA	21	$5,745,000	$273,571	$7,165	3.76%
FHA	12	$2,680,000	$223,333	$7,930	4.08%
USDA	4	$920,000	$230,000	$6,583	3.50%

For 2019, First National Bank Alaska's most frequently originated type of loan was Conventional, with 446 originations. Their 2nd most popular type was VA, with 21 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	271	$72,515,000	$267,583	$5,157	4.26%
Refi	168	$49,050,000	$291,964	$4,994	4.07%
Home Improvement	26	$5,540,000	$213,077	$5,309	4.78%
Cash Out Refi	11	$1,915,000	$174,091	$3,457	3.73%
Other	7	$1,065,000	$152,143	$863	4.13%

For 2019, First National Bank Alaska's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Refi, with 168 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	328	$87,540,000	$266,890	$5,284	4.01%
15 Year	90	$23,090,000	$256,556	$4,325	4.10%
20 Year	22	$10,230,000	$465,000	$4,802	5.30%
Other	20	$3,690,000	$184,500	$1,255	5.64%
10 Year	18	$2,870,000	$159,444	$3,642	4.72%
1 Year	5	$2,665,000	$533,000	$0	6.75%

For 2019, First National Bank Alaska's most frequently cited loan duration was 30 Year, with 328 originations. The 2nd most popular length was 15 Year, with 90 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$2k-3k	131	$30,135,000	$230,038
$1k-2k	96	$15,180,000	$158,125
$3k-4k	74	$22,280,000	$301,081
$<1k	37	$8,545,000	$230,946
$4k-5k	32	$12,340,000	$385,625
$5k+	21	$10,765,000	$512,619

First National Bank Alaska's average total fees were $5,284, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 131 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	258	$67,040,000	$259,845
4-5%	127	$35,925,000	$282,874
5-6%	30	$9,820,000	$327,333
2.5-3%	28	$5,430,000	$193,929
6-7%	27	$9,865,000	$365,370
7-8%	7	$1,225,000	$175,000
Over 8%	5	$555,000	$111,000
<2.5%	1	$225,000	$225,000

During 2019, First National Bank Alaska's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 3-4%, with 258 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	240	$66,240,000	$276,000	$5,440	4.07%
$100k-200k	138	$21,610,000	$156,594	$3,600	4.13%
$400k-600k	47	$22,195,000	$472,234	$7,532	4.35%
$100,000 or less	41	$3,095,000	$75,488	$2,595	4.91%
$600k-1MM	12	$8,040,000	$670,000	$9,734	4.28%
$1MM+	5	$8,905,000	$1,781,000	$0	5.73%

2019 saw First National Bank Alaska place emphasis on $200k-400k loans with 240 originations, totaling $66,240,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	98	$19,520,000	$199,184	$4,398	3.97%
$100k-150k	92	$25,200,000	$273,913	$5,765	3.99%
$75k-100k	92	$22,960,000	$249,565	$5,164	3.98%
$150k-250k	54	$16,780,000	$310,741	$5,475	4.13%
$50k or less	46	$6,790,000	$147,609	$3,816	4.18%
$250k+	29	$11,465,000	$395,345	$7,075	4.35%

First National Bank Alaska lent most frequently to those with incomes in the $50k-75k range, with 98 originations. The second most popular income band? $100k-150k, with 92 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	82	$20,260,000	$247,073	$4,652	3.82%
20-30%	74	$17,840,000	$241,081	$4,646	3.80%
<20%	47	$12,265,000	$260,957	$4,178	3.76%
49%	25	$5,885,000	$235,400	$4,796	4.05%
39%	20	$4,600,000	$230,000	$5,545	3.96%
37%	19	$4,785,000	$251,842	$4,826	3.86%
44%	19	$4,385,000	$230,789	$6,061	4.35%
43%	18	$4,790,000	$266,111	$5,439	3.87%
41%	18	$5,040,000	$280,000	$4,630	3.90%
47%	17	$4,355,000	$256,176	$4,805	4.10%
40%	15	$3,555,000	$237,000	$5,274	4.23%
45%	15	$4,175,000	$278,333	$5,979	4.05%
42%	15	$3,975,000	$265,000	$6,360	4.46%
38%	14	$3,440,000	$245,714	$6,014	4.70%
48%	12	$3,310,000	$275,833	$6,363	4.04%
46%	10	$2,640,000	$264,000	$4,940	4.00%
36%	9	$2,325,000	$258,333	$5,236	3.93%

First National Bank Alaska lent most frequently to those with DTI ratios of 30-36%, with 82 originations. The next most common DTI ratio? 20-30%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	308	$79,980,000	$259,675	$5,018	4.09%
Not provided	111	$29,045,000	$261,667	$4,995	4.05%
Not applicable	33	$14,155,000	$428,939	$0	6.19%
American Indian	19	$4,215,000	$221,842	$5,227	3.88%
Asian	7	$1,675,000	$239,286	$3,841	4.05%
Black	5	$1,015,000	$203,000	$4,123	3.48%

Approval Rates

Total approvals of all applications
93.75%

First National Bank Alaska has an average approval rate.

Pick Rate

Approvals leading to origination
72.26%

First National Bank Alaska has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	483	$130,085,000	$269,327

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	28	$16,530,000	$590,357
Single Family (1-4 Units):Manufactured	1	$445,000	$445,000
Single Family (1-4 Units):Site-Built	454	$113,110,000	$249,141

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	35	$5,155,000	$147,286	$3,384	4.42%
40-60%	61	$14,305,000	$234,508	$4,241	4.00%
60-80%	211	$65,855,000	$312,109	$4,915	4.43%
80-100%	159	$42,105,000	$264,811	$5,409	3.86%
Over 100%	7	$1,765,000	$252,143	$10,015	3.82%
Under 20%	10	$900,000	$90,000	$2,746	5.69%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	16.7%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	3	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Closing on a mortgage	2	33.3%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First National Bank Alaska	218 Center Avenue Kodiak, AK 99615	Full Service B&M	$58,253
First National Bank Alaska	1300 Washington Dr Fairbanks, AK 99709	Full Service B&M	$115,132
First National Bank Alaska	1821 Gambell St Anchorage, AK 99501	Full Service B&M	$97,244
First National Bank Alaska	775 E Parks Hwy Wasilla, AK 99654	Full Service B&M	$114,900
First National Bank Alaska	303 4th Ave Seward, AK 99664	Full Service B&M	$38,368
First National Bank Alaska	840 W 10th St Juneau, AK 99801	Full Service B&M	$84,447
First National Bank Alaska	201 West 36th Avenue Anchorage, AK 99503	Full Service B&M	$359,097
First National Bank Alaska	8725 Old Seward Hwy Anchorage, AK 99515	Full Service B&M	$173,348
First National Bank Alaska	1210 W Northern Lights Blvd Anchorage, AK 99503	Full Service B&M	$85,834
First National Bank Alaska	123 Main St Haines, AK 99827	Full Service B&M	$53,500
First National Bank Alaska	.5 Mile Healy Spur Road Healy, AK 99743	Full Service B&M	$16,488
First National Bank Alaska	101 Egan Ave Valdez, AK 99686	Full Service B&M	$41,742
First National Bank Alaska	101 W. 36th Avenue Anchorage, AK 99510	Full Service B&M	$275,173
First National Bank Alaska	1100 Muldoon Road Anchorage, AK 99504	Full Service B&M	$40,198
First National Bank Alaska	11408 Kenai Spur Hwy Kenai, AK 99611	Full Service B&M	$82,196
First National Bank Alaska	11412 Business Boulevard Eagle River, AK 99577	Full Service B&M	$78,373
First National Bank Alaska	303 West Evergreen Avenue Palmer, AK 99645	Full Service B&M	$78,984
First National Bank Alaska	318 Lincoln Street Sitka, AK 99835	Full Service B&M	$46,786
First National Bank Alaska	3650 Piper Street, Suite 100 Anchorage, AK 99508	Full Service B&M	$38,548
First National Bank Alaska	3655 Heath Street Homer, AK 99603	Full Service B&M	$77,160
First National Bank Alaska	430 Merhar Ave Fairbanks, AK 99701	Full Service B&M	$32,662
First National Bank Alaska	44501 Sterling Highway Soldotna, AK 99669	Full Service B&M	$104,848
First National Bank Alaska	528 First Street Cordova, AK 99574	Full Service B&M	$34,695
First National Bank Alaska	5305 East Northern Lights Boulevard Anchorage, AK 99504	Full Service B&M	$74,881
First National Bank Alaska	5850 Westover Avenue Jber, AK 99506	Full Service B&M	$16,713
First National Bank Alaska	700 Front Street Bethel, AK 99559	Full Service B&M	$65,492
First National Bank Alaska	8990 Glacier Highway Juneau, AK 99801	Full Service B&M	$60,551
First National Bank Alaska	Mile 187 Glenn Highway, Suite C, P.O. Box 85 Glennallen, AK 99588	Full Service B&M	$16,488

For 2019, First National Bank Alaska had 28 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$152,044
Net interest income	$136,841
Total noninterest income	$23,117
Gross Fiduciary activities income	$1,764
Service charges on deposit accounts	$5,270
Trading account gains and fees	$0
Additional Noninterest Income	$16,083
Pre-tax net operating income	$73,902
Securities gains (or losses, -)	$116
Income before extraordinary items	$55,645
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$55,645
Minority interest net income	$0
Net income	$55,645
Sale, conversion, retirement of capital stock, net	$-269
Net operating income	$55,553

First National Bank Alaska's gross interest income from loans was $152,044,000.
First National Bank Alaska's net interest income from loans was $136,841,000.
First National Bank Alaska's fee based income from loans was $5,270,000.
First National Bank Alaska's net income from loans was $55,645,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$15,203
Provision for credit losses	$298
Total noninterest expense	$85,758
Salaries and employee benefits	$56,698
Premises and equipment expense	$10,557
Additional noninterest expense	$18,503
Applicable income taxes	$18,373
Net charge-offs	$198
Cash dividends	$45,628

First National Bank Alaska's interest expense for loans was $15,203,000.
First National Bank Alaska's payroll and benefits expense were $56,698,000.
First National Bank Alaska's property, plant and equipment expenses $10,557,000.

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	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.2%
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	$2,387,785
Deposits held in domestic offices	$2,387,785
Deposits by Individuals, partnerships, and corporations	$2,342,377
Deposits by U.S. Government	$1,193
Deposits by States and political subdivisions in the U.S.	$43,918
Deposits by Commercial banks and other depository institutions in U.S.	$297
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$339,500
Demand deposits	$222,812
Nontransaction accounts	$2,048,285
Money market deposit accounts (MMDAs)	$1,387,427
Other savings deposits (excluding MMDAs)	$545,741
Total time deposits	$115,117
Total time and savings deposits	$2,164,973
Noninterest-bearing deposits	$1,319,714
Interest-bearing deposits	$1,068,071
Retail deposits	$2,344,817
IRAs and Keogh plan accounts	$18,166
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$3,808,254
Cash & Balances due from depository institutions	$127,657
Interest-bearing balances	$104,577
Total securities	$1,588,721
Federal funds sold & reverse repurchase	$0
Net loans and leases	$2,007,570
Loan and leases loss allowance	$19,500
Trading account assets	$0
Bank premises and fixed assets	$50,574
Other real estate owned	$1,343
Goodwill and other intangibles	$2,611
All other assets	$29,778

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$3,808,254
Total Liabilities	$3,260,572
Total deposits	$2,387,785
Interest-bearing deposits	$1,068,071
Deposits held in domestic offices	$2,387,785
% insured (estimated)	$72
Federal funds purchased and repurchase agreements	$859,425
Trading liabilities	$0
Other borrowed funds	$156
Subordinated debt	$0
All other liabilities	$13,206

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$2,007,570
Loan and leases loss allowance	$19,500
Total loans and leases (domestic)	$2,027,070
All real estate loans	$1,574,636
Real estate loans in domestic offices	$1,574,636
Construction and development loans	$346,952
Residential 1-4 family construction	$58,302
Other construction, all land development and other land	$288,650
Loans secured by nonfarm nonresidential properties	$976,292
Nonfarm nonresidential secured by owner-occupied properties	$440,991
Commercial real estate & other non-farm, non-residential	$535,301
Multifamily residential real estate	$93,794
1-4 family residential loans	$156,317
Farmland loans	$1,281
Loans held in foreign offices	$0
Farm loans	$60,383
Commercial and industrial loans	$345,546
To non-U.S. addressees	$17,873
Loans to individuals	$16,581
Credit card loans	$2,346
Related Plans	$5,657
Consumer Auto Loans	$2,515
Other loans to individuals	$6,063
All other loans & leases	$29,924
Loans to foreign governments and official institutions	$0
Other loans	$2,793
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$456
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$19,381
Non 1-4 family restructured loans & leases	$18,501
Total loans and leases (foreign)	$0

First National Bank Alaska had $2,007,570,000 of loans outstanding in 2019. $1,574,636,000 of loans were in real estate loans. $346,952,000 of loans were in development loans. $93,794,000 of loans were in multifamily mortgage loans. $156,317,000 of loans were in 1-4 family mortgage loans. $60,383,000 of loans were in farm loans. $2,346,000 of loans were in credit card loans. $2,515,000 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	968	$215,170	$222,283
Nonfarm, nonresidential loans - <$100k	133	$6,318	$47,504
Nonfarm, nonresidential loans - $100-250k	405	$51,080	$126,123
Nonfarm, nonresidential loans - $250k-1MM	430	$157,772	$366,912
Commercial & Industrial, US addressed loans - <$1MM	692	$82,809	$119,666
Commercial & Industrial, US addressed loans - <$100k	337	$10,633	$31,552
Commercial & Industrial, US addressed loans - $100-250k	158	$16,884	$106,861
Commercial & Industrial, US addressed loans - $250k-1MM	197	$55,292	$280,670
Farmland loans - <$1MM	3	$545	$181,667
Farmland loans - <$100k	1	$12	$12,000
Farmland loans - $100-250k	1	$99	$99,000
Farmland loans - $250k-1MM	1	$434	$434,000
Agriculture operations loans - <$1MM	149	$17,363	$116,530
Agriculture operations loans - <$100k	60	$2,293	$38,217
Agriculture operations loans - $100-250k	56	$7,110	$126,964
Agriculture operations loans - $250k-1MM	33	$7,960	$241,212