First National Bank Alaska Mortgage Rates, Fees & Info
Anchorage, AKLEI: 25490089V5DJHFQMOA03
Tax ID: 92-0006595
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.26% | 11/21/24 |
| 30 Year Conventional Refi | 6.35% | 11/21/24 |
| 30 Year Cash-out Refi | 7.10% | 11/21/24 |
| 30 Year FHA Purchase | 6.68% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 5.96% | 11/21/24 |
| 30 Year VA Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.60% | 11/21/24 |
| 15 Year Conventional Purchase | 6.38% | 11/21/24 |
| 15 Year Conventional Refi | 6.33% | 11/21/24 |
| 15 Year Cash-out Refi | 6.33% | 11/21/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
590Origination Dollar Volume (All Markets)
$207,750,000Employee count
601Top 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% |
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.
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Product Mix
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
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
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
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
2021 saw First National Bank Alaska place emphasis on $200k-400k loans with 310 originations, totaling $86,510,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.76%
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 origination67.29%
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 |
LTV Distribution
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 | 775 E Parks Hwy Wasilla, AK 99654 | Full Service B&M | $201,030 |
| First National Bank Alaska | 840 W 10th St Juneau, AK 99801 | Full Service B&M | $112,654 |
| 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 | 44501 Sterling Highway Soldotna, AK 99669 | Full Service B&M | $156,147 |
| 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 |