First Bank
First Bank is the kind of bank that knows their community, its citizens and its needs. At First Bank, they say "community first," because they live there, work there, play there. Their board of directors, along with bank management and staff, consistently deliver the kind of financial products and services that help their community grow. They make all their decisions locally so their customers can get the answers they need, when they need them.
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Data for Q4 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Bank had $2.16 million in non-current loans and owned real-estate with $49.7 million in equity and loan loss allowances on hand to cover it. This gives First Bank a Texas Ratio of 4.34% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First Bank decreased slightly from 5.68% as of December 31, 2012 to 4.34% as of December 31, 2013, resulting in a positive change of 23.65%.This indicates that the balance sheet and financial strength for First Bank has improved slightly in recent periods.
Deposit Growth
In the past year, First Bank has increased its total deposits by $25.13 million, resulting in 6.18% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Bank has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Bank has $482.13 million in assets with $49.7 million in equity, resulting in a capitalization level of 10.31%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 14885 |
| Year Established | 1924 |
| Employees | 124 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $482.13 million |
| Loans | $207.70 million |
| Deposits | $431.55 million |
| Equity Capital | $46.38 million |
| Loan Loss Allowance | $3.32 million |
| Unbacked Noncurrent Loans | $685,000 |
| Real Estate Owned | $1.47 million |
| Historic Data - December 2012 | |
|---|---|
| Assets | $462.77 million |
| Equity Capital | $46.78 million |
| Loan Loss Allowance | $3.12 million |
| Unbacked Noncurrent Loans | $685,000 |
| Real Estate Owned | $2.01 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.19% |
| Return on Assets | 0.71% |
| Return on Equity | 7.21% |
| Interest Income | $15.22 million |
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First Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | $500k | - | Personal Peak Savings | |
| 0.25% | $100k | - | Personal First Premium | |
| 0.25% | $100k | - | Personal IRA First Premium | |
| 0.06% | - | - | Government Savings Account |
First Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $25k | - | Personal Money Market Savings |
First Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $500k | - | Business Interest Checking | |
| 0.20% | $500k | - | Small Business Interest Checking | |
| 0.15% | $100k | - | Income Checking |
First Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.21% | $100k | $250k | 60 Months Time Deposits | |
| 1.16% | $100k | $250k | 48 to 59 Months Time Deposits | |
| 1.05% | $100k | $250k | 36 to 47 Months Time Deposits | |
| 0.85% | $100k | $250k | 24 to 35 Months Time Deposits | |
| 0.65% | $25k | $250k | 12 to 23 Months Time Deposits | |
| 0.40% | $100k | $250k | 180 to 364 Days Time Deposits | |
| 0.35% | $100k | $250k | 90 to 179 Days Time Deposits | |
| 0.20% | $100k | $250k | 30 to 89 Days Time Deposits |
| First Bank Locations | ||
|---|---|---|
| Petersburg Branch | 103 Nordic Drive | Petersburg, AK 99833 |
| Sitka Branch | 203 Lake Street | Sitka, AK 99835 |
| First Bank Financial Center | 2030 Sealevel Drive | Ketchikan, AK 99901 |
| Wrangell Branch | 224 Bruger Street | Wrangell, AK 99929 |
| Totem Branch | 2530 Tongass Avenue | Ketchikan, AK 99901 |
| Mendenhall Branch | 3075 Vintage Boulevard | Juneau, AK 99801 |
| First Bank | 331 Dock Street | Ketchikan, AK 99901 |
| Prince Of Wales Branch | 3rd and Main Streets | Craig, AK 99921 |
| Juneau Branch | 605 W Willoughby Avenue | Juneau, AK 99801 |