2023 Annual Highlights

Strong Enough to be Flexible

THE PAST FEW YEARS HAVE PRESENTED ONE CHALLENGE AFTER ANOTHER, AND LAST YEAR WAS NO EXCEPTION. THE BANK TEAM WOULD GET A HANDLE ON ONE MATTER, AND THEN HAD TO PIVOT TO THE NEXT. TURNING ON A DIME WAS THE ORDER OF THE DAY. THIS AGILITY WAS OUR STRENGTH.

AS ALWAYS, the 600-plus Alaskans on the First National team, guided by the exceptional experience and clear vision of the bank’s Board of Directors, stood strong, showing resilience time after time. They met the challenges we anticipated and those we didn’t. Their unwavering commitment helped customers shape a brighter tomorrow for all Alaskans.

In the first quarter of 2023, as we anticipated, the record deposit growth we experienced in 2020 and 2021 began to roll out to fund the purposes for which the money was intended — fueling the Alaska economy and seeking greater returns in the increased interest rate environment. What we did not anticipate was the sudden and very public crisis affecting the entire banking industry as several national banks unexpectedly closed.

In response, the bank’s leadership team quickly deployed new strategies designed to solidify customer relationships statewide and confirm customer confidence in First National’s safety and soundness.

This resiliency produced positive year-end financial results of which we are very proud – more than $5.7 billion in total assets, a high-quality loan portfolio of more than $2 billion for the fourth straight year, and a record net income of $60 million. I’m honored to be part of a team with such hard-working and dedicated Alaskans, one of the most resilient employee teams in First National’s history.

I’m just as proud of First National being voted “Best Place to Work” for the eighth year in a row in Alaska Business magazine’s Best of Alaska Business Awards. The bank was also chosen as Best Bank/Credit Union for the third time running and Best

Corporate Citizen for the fourth time. This recognition exemplifies First National’s culture of respect for and value of our employees, our customers and our communities.

Many people think of resilience as “bouncing back” to where we were before. From what I’ve seen this year, it’s more than that. I believe the experience gained in facing and conquering challenges doesn’t take us back to “normal” but is instead a catalyst for transforming ourselves and our businesses. Our experiences in 2023 have led First National to a purposeful transformation to be a more efficient, even better version of Alaska’s largest community bank.

What’s next? We can never know for sure. That being said, there is something you can count on. The team at First National Bank Alaska, always leveraging its experience

“Many

people think of resilience as ‘bouncing back’ to where we were before. From what I’ve seen this year, it’s more than that. I believe the experience gained in facing and conquering challenges doesn’t take us back to ‘normal’ but is a catalyst for transforming ourselves and our businesses.”

BETSY LAWER BOARD CHAIR AND CEO/PRESIDENT

The resilience needed to shape a better tomorrow for Alaska is a marathon, not a sprint. It’s a good thing we’re here for the long haul.

Betsy Lawer

Betsy Lawer BOARD CHAIR AND CEO/PRESIDENT

First National brought the potent power of resilience into play to thrive in demanding situations in 2023. The strength and endurance of that power is symbolized by these wildflowers at the Great Kobuk Valley Sand Dunes, Kobuk Valley National Park, 25 miles north of the Arctic Circle, and in other photos throughout these annual highlights. and resources, will be ready to help you meet the challenges we’re bound to face.

THE STRENGTH OF RESILIENCE

RESILIENCE

Financial Highlights

Showing remarkable resilience, the First National Bank Alaska team met state and national banking industry challenges head-on during 2023. Nationally and locally, bank deposits declined as businesses and public entities used reserve funds built during the pandemic and as excess deposits migrated to higher-yielding alternatives. The banking industry was shaken by three significant failures, heightening concerns over deposits in excess of FDIC insurance limits and bank liquidity positions.

First National’s leadership team demonstrated agility and foresight throughout the year, effectively managing deposit outflow and loan demand. Strategic borrowing was used to ensure liquidity and profitability remained strong. Assets on Dec. 31, 2023, totaled $5.7 billion, bolstered by $780 million of borrowed funds, ultimately held in cash at a positive margin. Despite a decline of $486.5 million in deposits and securities sold under agreements to repurchase balances, representing approximately 28% of the growth achieved in 2020 and 2021, we remained resilient.

Securities in the bank’s portfolio are marked to market, providing full transparency to their current value.

LIABILITIES AND SHAREHOLDERS’ EQUITY

STATEMENTS OF INCOME

Securities with unrealized losses were pledged to support the borrowing, providing immediate liquidity and insulation from loss recognition had deposit outflow continued.

Moderate loan demand grew the portfolio by $46.3 million as experienced loan officers maintained high credit quality and low delinquency. Net interest margin improved to 2.82%, with improvements in yield on earning assets outpacing growth in interest expense.

First National achieved a record net income at $60 million, a rewarding start to our second century. Our success was a result of a well-balanced earning asset mix, keen attention to cost of funds and borrowing margin, higher noninterest income, and outstanding expense management.

The bank’s four key operating metrics surpassed the performance of our $3-$10 billion national peers for 2023. Return on assets improved to 1.07%, exceeding average peer performance at 1.04%. Return on equity improved to 13.97%, outperforming the peer group average at 11.11%. First National maintained effective operating efficiency at 54.28% and a strong risk-based capital level of 20.45%, both metrics above that of our state and national peer averages by wide margins.

First National Bank Alaska’s resiliency and performance in 2023 is a testament to our mission statement and enduring commitments to our customers, employees, and shareholders for banking excellence in Alaska.

SOLID FLIGHT PLAN

Providing passenger, cargo and emergency services, Lake and Peninsula Airlines is a vital lifeline to Southwest Alaska. To help navigate an always-changing economy, second-generation business owners Heidi and Lyle Wilder trust First National for a team of bankers dedicated to their success, a century of local expertise, and customized lending to take their business to new heights. From left to right: First National Loan Officer Jake Parrish, Heidi Wilder, Lyle Wilder, First National Branch Manager Syl Fowlis.

Ready to Respond

FIRST NATIONAL BANK ALASKA’S ABILITY TO REACT WELL TO ADVERSITY HAS BEEN WELL-PROVEN FOR MORE THAN A CENTURY. THAT RESILIENCE WAS AGAIN PUT TO THE TEST IN 2023.

RESPONDING to the challenges of high-profile bank failures in the Lower 48, post-pandemic economic realities, and a surge in fraud activity, among others, was a collective effort that kept the bank pivoting throughout the year. These trials required simultaneous countering strategies, pushing the bank’s leadership team and 600-plus employees to step outside their comfort zones to adapt and implement the tactics necessary to help our customers succeed. But as Betsy Lawer, Board Chair and CEO/President says, “If it were easy, anybody could do it.” In these highlights, you’ll see how we, as a united front, passed these tests.

Resilience is not just about meeting challenges; it’s also about growing from them. The lessons of 2023, combined with more than 100 years of experience, are now informing First National’s navigation through the current banking complexities, helping us continue to transform, with purpose and vision, into a bank that helps deliver service, prosperity and success to our employees, customers, and shareholders.

Resilient Growth

DURING THE PANDEMIC, AS THE ECONOMY SLOWED DOWN AND GOVERNMENT ASSISTANCE INCREASED, ALASKA BUSINESSES WERE CAUTIOUS ABOUT INVESTING AND EXPANDING. THIS PRUDENCE LED TO AN UNPRECEDENTED GROWTH IN DEPOSITS NOT ONLY IN ALASKA BUT THROUGHOUT THE BANKING INDUSTRY. IN 2023, BUSINESSES BEGAN PUTTING THOSE DEPOSITS TO GOOD USE, IN A BIG WAY.

MORE THAN $350 million in deposits flowed out of First National, with most of them withdrawn early in the year. This movement was unusual but anticipated by the bank’s leadership team which deployed a variety of strategies to counter the trend and grow core earnings. These strategies included vigorous attention to holding and enhancing relationships, promoting wealth management and trust services, and meticulously managing investments in the continuing high-interest environment.

These efforts helped First National increase assets to $5.7 billion, grow net income to a record $60 million, and show growth in both interest and non-interest income. Performance ratios remained well above our peer groups in Alaska and the rest of the nation.

FOR THE FOURTH YEAR billion

“A loan never goes bad. It was bad the day it was made.”

D.H. CUDDY FORMER FIRST NATIONAL PRESIDENT

Keeping Pace

DESPITE A CHALLENGING LOAN DEMAND ENVIRONMENT IN 2023, FIRST NATIONAL ACHIEVED LOAN GROWTH, A TESTAMENT TO THE BANK’S ABILITY TO KEEP ITS PORTFOLIO ABOVE $2 BILLION FOR THE FOURTH CONSECUTIVE YEAR.

ALL A-BOARD

Each year, First National’s Board of Directors holds a meeting in a community the bank serves, visiting customers and prospects, and meeting with community leaders. In 2023, the Board and bank leadership team members traveled to Southeast Alaska. The itinerary included a visit to Totem Bight State Historical Park near Ketchikan.

LENDING TEAMS in the bank’s Southeast, Interior and Peninsula regions contributed to increased loans, showing First National’s commitment to a wide diversity of Alaska communities. The bank’s low-income housing tax credit program made up a significant part of this growth as First National financed affordable housing projects in towns and villages spanning from Unalaska to Ketchikan.

Loan quantity has always taken a back seat to loan quality at First National. As D.H. Cuddy, a guiding force through some tough economic times during his 64 years with First National often said, “A loan never goes bad. It was bad the day it was made.” Paying attention to this principle helped First National earn at year-end a 0.05% delinquency rate on loans delinquent over 30 days in a $2.3 billion loan portfolio, benefitting not only the bank but also supporting the financial well-being of customers.

Our customers’ success is ultimately the foundation of everything we do. It’s why we work hard to understand a customer’s business as well as the customer, why we anticipate and respond to urgent business banking needs up close and in person, and why we are fully invested in our customers’ personal and business success.

Safe and Sound

IN EARLY MARCH 2023, THE FAILURES OF SILICON VALLEY BANK AND SIGNATURE BANK PUT FIRST NATIONAL BANK ALASKA’S RESILIENCY AND RESPONSIVENESS TO THE TEST.

WHILE FIRST NATIONAL has remained one of the safest and most secure financial institutions in Alaska and the United States, as measured by a number of independent rating services, it was important to quickly and clearly communicate this information to customers and all Alaskans concerned about the banking industry.

Under the guidance of the Board of Directors and executive leadership teams, the bank’s communications professionals worked closely with the Finance, Retail, Treasury, and Compliance divisions, crafting strong messages and employing a variety of channels to deliver them — first to employees, then to shareholders, customers, communities and all interested parties. The bank and its loyal employees tirelessly reassured stakeholders far and wide using social media, messages from bank Chair and CEO/President Betsy Lawer to all First National customers, interviews with media, internal communications to employees, and detailed talking points.

The focus of the message was that First National is:

SAFE – For more than a century, Alaskans have trusted First National to provide safe, financial solutions.

STRONG – The bank’s strong fundamentals and well-diversified assets leave us ready to help Alaskans today.

SECURE – First National is recognized – not just in Alaska, but across the nation – as a safe, secure and trusted institution.

Customers were appreciative! Their feedback underscored their high regard for and trust in the bank for its quick and informative responses to their concerns. First National is gratified by this continued trust. The quick and dedicated action of our entire team showed clearly that, although we may not know what’s coming next, we’re ready for it.

The resilience of our team showed clearly that, although we may not know what’s coming next, we’re ready for it.

RESILIENCE

All in Against Fraud

“SAFEKEEP OUR DEPOSITORS’ MONEY.” A SIMPLE DECLARATION FROM FIRST NATIONAL’S MISSION STATEMENT. BUT OVER THE LAST CENTURY, SUCCEEDING AT THIS MISSION HAS BECOME INCREASINGLY COMPLEX AS THE METHODS AND TOOLS CRIMINALS USE TO STEAL FROM CUSTOMERS GROW MORE SOPHISTICATED.

“WRITE CHECKS?”

EARLY IN 2023 , bank customers and the customers of many other financial institutions across the nation, became the targets of a significant increase in fraudulent activity, especially check fraud. Very quickly, the bank was prompted to develop and deploy an all-hands-on-deck campaign to counterattack the criminals and protect our customers. According to the Federal Trade Commission, consumers reported losing $10 billion to fraud and scams in 2023, and Alaska and First National certainly were among these that felt the effects. The cross-divisional effort that came together to develop a counterstrategy included experts in Information Security, Bank Operations, Corporate Communications, Treasury Management, Bankcard Services, Security, Compliance, and others.

A far-reaching check fraud prevention campaign was undertaken to educate customers about the risks of writing paper checks and how to safeguard against check fraud. Relationship officers and front line employees executed an all-out blitz to ensure the problem and solutions became top-of-mind for customers.

The Treasury Management team made personal calls to customers at high risk for check fraud, delivering fraud presentation packets with best practices highlighted. To further protect our customers, branches and bank operations were enlisted to assist in the effort to identify and combat the increasing check fraud

Everyone on the First National team continues to be an essential part of this effort. Keeping employees informed about check fraud prevention gives the bank more than 600 crime fighters ever-vigilant against this ongoing threat.

The results of the campaign were noteworthy. Internal processes and customer use of bank fraud prevention tools prevented more than $4 million in losses due to fraudulent checks and First National successfully recovered 78% of the losses incurred.

FAST ACTION FOILS FRAUD

Long-time First National customer Color Art Printing was hit by the influx of check fraud in 2023 when they discovered some check payments mailed to vendors had gone missing. Owners Richard and Deanna Teders (second and third from left in back row of photo) called their First National team and marveled at the response. “Within a couple of hours, First National staff were standing at our front counter, and they already knew what was going on,” said Richard.

First National placed holds on the checks before any money was lost. Now, Color Art makes payments online through ACH or wire transfers. “Their response to our phone call was the most impressive thing,” said Richard. “They’ve got thousands of customers, and it seemed like they dropped what they were doing to get right down here.”

THE SIMPLE TRUTH

THE BANK’S COMMITMENT to guard against the many other forms of fraud, whether business email compromise (BEC), social engineering scams, phishing and other cyber-criminal attacks did not wane during the check fraud prevention campaign.

Bank Security Officer James Estes, who has decades of experience fighting fraud with the Anchorage Police Department and Alaska State Troopers, stays current with all recent trends in bank fraud and its prevention. He’s convinced the most effective prevention methods are some of the simplest.

“The trends may be new, but the best ways to combat fraud remain the same,” said Estes. “Pay attention. Question anything that doesn’t feel right. Conduct due diligence whenever a discrepancy arises. Our employees are constantly reminded that these modest methods can do the most good.”

The fraudsters’ tactics continue to evolve and First National continues to develop and maintain the latest cybersecurity infrastructure and software. We know the fight against fraud is never-ending.

“Pay attention. Question anything that doesn’t feel right. Conduct due diligence whenever a discrepancy arises.”

JAMES ESTES | BANK SECURITY OFFICER

Resilience sometimes means responding with strength in the face of an immediate threat. That’s what it took to safekeep our depositors’ money in 2023, which the First National team did.

78% OF FRAUD LOSSES IN 2023 RECOVERED

RESILIENCE

FINANCING A NEW FUTURE

The deep connection the Sun’aq Tribe of Kodiak has with the land and sea in the Kodiak region is one reason the tribe purchased Kodiak Island WildSource, a seafood processing firm. When a fire forced WildSource to find a new location, Sun’aq came to First National’s Kodiak Branch team to help with financing.

“We were looking for funds, and the bank believed in us,” said WildSource President and CEO Chris Sannito. “Being able to purchase new space on the waterfront gave us new life and a whole new future.”

First National is proud to help Sun’aq and WildSource build the partnership that continues to benefit Sun’aq’s members and the Kodiak community.

From left to right: Kodiak Branch Manager Mark Lonheim, Sun’aq Tribe Executive Director JJ Marsh, Kodiak Branch Operations Supervisor Debbie Olson, Kodiak Island WildSource President and CEO Chris Sannito.

POSTING A POSITIVE PERFORMANCE AMIDST THE CHALLENGES OF 2023 WAS TESTAMENT TO THE CONCERTED EFFORTS OF THE FIRST NATIONAL TEAM. THIS COLLABORATION IS A HALLMARK OF THE BANK’S CULTURE AND A STRENGTH THAT HAS SERVED OUR CUSTOMERS AND SHAREHOLDERS WELL FOR DECADES. HERE’S HOW DEPARTMENTS ACROSS THE BANK CONTRIBUTED TO FIRST NATIONAL’S RESILIENT YEAR.

ESCROW

THE ESCROW DEPARTMENT has a firm place in the bank’s history, as it was once the largest such department on the entire West Coast. A strong tradition of service is one reason the unique benefits of Escrow Servicing add such value to First National’s One Solution suite of value-added services.

Escrow Servicing can help with certain customer real estate transactions, the sale of a business, and other transactions where a trusted, neutral third party is essential. With a new, energized team in place, and significant progress toward full implementation of an improved core Escrow management software platform, the department analyzed existing processes, and streamlined them to create new efficiencies and improved workflow. The resulting enhanced customer experience also led to a nice bump to the department’s bottom line.

HUMAN RESOURCES

bank and our customers. The low turnover spurred by career development increased First National’s efficiencies from reduced onboarding and re-training expenses. Customers received the bank’s trademark superior customer service from experienced and crosstrained employees.

INFORMATION TECHNOLOGY (IT)

IN ADDITION to the outstanding fraud prevention work of the Information Security Unit detailed on pages 8 and 9 and below, IT wears a myriad of hats to keep First National at the forefront of the latest banking technology and infrastructure investment.

CONTINUED and consistent recruitment tactics, including employee referral incentives, helped First National achieve near-full and optimal workforce staffing levels in 2023 despite continued labor shortages nationally and statewide.

Following the bank’s tenet of “we hire for careers, not just for jobs,” HR focused on educational and career development opportunities for employees, including two in-person Leadership Education and Development seminars for 46 emerging and junior bank leaders.

This dedication to employees paid great dividends for the

The bank’s IT professionals worked tirelessly in 2023 to give customers the ability to link their bank accounts to their accounting and other financial software, a feature known as data aggregation. Now, customers can search for First National through most accounting systems and set up automatic transaction downloads.

IT knowledge and experience were leveraged in all communications developed to inform customers about the ways to keep their money safe and to recognize current fraud trends, including check fraud, business email compromise, social engineering scams and more.

Business continuity during a disaster is essential to provide our customers with banking services when they need them most. In 2023, IT oversaw the implementation of a full-scope Disaster Recovery test from early September into mid-October. All bank and customerfacing systems ran 24/7 from the bank’s alternate processing site in Fairbanks. The transfer to the alternate site and back to the Anchorage Data Center was seamlessly executed.

CUSTOMER EXPERIENCE

WHAT DO CUSTOMERS think about their experiences with First National Bank Alaska? How could we improve that experience? These questions have always been part of the bank’s efforts to attract and retain customers. The newly formed Customer Experience team conducted a comprehensive Customer Experience survey designed to answer these questions.

The survey gathered feedback from more than 2,400 respondents. Key takeaways included an 83% satisfaction rate with bank service quality, a 90% satisfaction rate with the branch experience and an 81% likelihood respondents would recommend First National to others. The survey results also highlighted areas for improvement, such as increasing digital service visibility and

obtaining more data to better serve millennials’ financial needs.

The survey results have already led to adjustments in procedures and services, and will be a source of valuable information for months to come, benefiting our customers, our employees, and our bank.

PROPERTY

FIRST NATIONAL has always taken its mission to “furnish employees with a pleasant working environment” seriously. In 2023, this mission was high on the Property Department’s to-do list.

Most notably, this included completing the remodel and furniture refresh of the second floor of Corporate Headquarters for Marketing and Mortgage Lending. This allowed the relocation of the Loan Servicing team into the Mortgage Lending suite, and for remote workers to return to onsite work each day, providing a more seamless experience for employees and customers.

Branches across the state, from Sitka to Valdez, received upgrades in infrastructure to cut costs and increase efficiencies. Employees where HVAC systems were replaced reported a more pleasant environment.

Along a more practical vein, and quite important to business continuity, the department conducted commercial

PREVENT AND PROTECT

Soon after the Exxon Valdez oil spill, Cook Inlet Spill Prevention and Response, Inc. (CISPRI) was formed to help prevent a similar mishap in Cook Inlet. At its formation, CISPRI came to First National for financial expertise and have banked with us ever since. Today, that expertise includes the One Solution – an integrated financial services approach backed by a local team of experienced banking experts. From left to right: CISPRI Vessel Superintendent Randy Borland, CISPRI General Manager Todd Paxton, First National Deputy Branch Administration Director Tim Redder.

component load testing and generator testing at Corporate Headquarters, Service Center and Operations Center, requiring the replacement of critical high-voltage hardware in all three buildings. If the power goes down, the bank will still be up.

These infrastructure improvements are a tangible sign of First National’s commitment to our future in Alaska and our employees. And there’s one more reason this pleasant environment is essential. It most likely helped us win the Best Place to Work for the eighth year in a row!

There’s one more reason this pleasant environment is essential. It most likely helped us win the Best Place to Work for the eighth year in a row!

RESILIENCE

WEALTH

MANAGEMENT ASSETS UNDER MANAGEMENT

GREW

%

The One Solution

YOU COULD CALL IT ONE-STOP SHOPPING. THAT’S THE ESSENCE OF FIRST NATIONAL’S ONE SOLUTION, A COMPREHENSIVE SUITE OF SERVICES AT THE HEART OF THE BANK’S STRATEGY TO MEET ALL OF OUR CUSTOMERS’ FINANCIAL NEEDS.

THE HIGH-INTEREST RATE environment and deposit outflow in 2023 led First National to renew our emphasis on the One Solution approach to best serve and support valuable customers and to sustain core earnings. Whether businesses were looking for customized solutions to help improve the bottom line or local and fast financing for expansion, the Treasury Management and Lending teams were ready to serve up the financial tools to help them achieve their short- and long-term objectives. The bank’s local experts worked hard to gain a thorough knowledge of each business they served, allowing us to anticipate and respond to immediate personal and business financial needs. Customers appreciated this total team approach.

Early in the year, as customers and noncustomers alike looked to move deposits to take advantage of high-interest rates, the One Solution approach led teams to present the advantages of consulting with First National’s Wealth Management and Trust department.

These efforts produced notable results. The Wealth Management and Trust team, with its increased depth and experience, grew the assets under management by nearly 40%, and the department saw revenue growth of 20%.

Building strong relationships has always been at the heart of First National’s success. Our One Solution process puts that philosophy into play to produce tangible results that help shape a better tomorrow for all Alaskans.

As customers and non-customers alike looked to move deposits to take advantage of high interest rates, the One Solution teams presented the advantages of consulting with First National’s Wealth Management and Trust department.

Fostering Resilient Communities

SUPPORTING ORGANIZATIONS THAT HELP ALASKANS TO A BETTER TOMORROW HAS BEEN AT THE CORE OF WHAT WE DO FOR MORE THAN A CENTURY. THIS AID IS CRUCIAL IN TIMES OF NEED, ALLOWING NONPROFITS TO PROVIDE MUCH-NEEDED ASSISTANCE WHEN THEIR COMMUNITIES NEED THEM MOST.

IN 2023, the bank provided $973,016 in contributions to support Alaskans in communities ranging from Bethel to Ketchikan.

First National Board Chair and CEO/President Betsy Lawer said it best. “More than a century of experience has taught us the bank’s success starts with the communities and Alaskans we serve –when they thrive, so do we.”

Our support of Alaskans was evident during the celebration of the Kodiak Branch’s 60th anniversary in July. To highlight our commitment to the community and six decades of service, the bank donated a total of $16,000 to three nonprofits active in the Kodiak Region – Alutiiq Museum, Kodiak History Museum and Kodiak Archipelago Leadership Institute.

First National’s long-time support of Alaska’s youth and education was re-emphasized by an increased financial commitment to the Alaska School Activities Association, helping bring the benefits of educationalbased activities participation – increased self-confidence and the value of teamwork, among many others – to more than 800,000 high school students in the last three decades.

The bank continued its support of the First National Bank Alaska Finance Lab at the University of Alaska Anchorage, which serves as a central resource for business and finance students statewide, aligning very well with our focus on youth, education and workforce development.

As always, First National encouraged and supported employees in towns and cities throughout the state as they donated hundreds of hours to assist organizations and the people they serve through service on boards, volunteering at events, and many other avenues.

Our goal is to help ensure our Alaska neighbors are prepared for each new challenge. That’s resilience at its best.

MORE THAN $973k IN CONTRIBUTIONS TO

ALASKANS IN

2023

EXPANDING CULTURAL KNOWLEDGE

As part of its recognition of the Kodiak Branch’s 60th anniversary, First National donated $5,000 to the Alutiiq Museum for a major renovation to better share and preserve the history and culture of the Alutiiq people. Another $5,000 was given at year-end for a total of $10,000 to the renovation. From left to right: First National Senior Vice President Karl Heinz, First National Kodiak Branch Operations Supervisor Debbie Olson, Alutiiq Museum Executive Director April Counceller, First National President - Lending Division and director Darren Franz, bank director Perry Eaton, Alutiiq Museum Director of Advancement & Operations Djuna Davidson. Director Eaton’s father was a founder of the Alutiiq Museum.

Board of Directors

PAST, PRESENT AND FUTURE

Backed by a solid legacy of leadership from D.H. Cuddy, Board Chair for six decades (in background photo), today’s Board of Directors is always looking forward to new ways to help shape a brighter tomorrow for all Alaskans. Their experience, knowledge and steady direction was essential to the bank’s solid performance in 2023.

Group photo, from left to right: John Binkley, Chairman, Godspeed Inc.; Vice Chair Lucy Mahan, Owner – Transitional Counseling, LLC; Darren Franz, First National President – Lending Division; Chair and CEO/President Betsy Lawer; Tom Tougas, Owner, Major Marine Tours; Former First National President Doug Longacre, Business Community Member; Margy Johnson, Business Community Member; Lead Director Perry Eaton, Artist

Individual photos, top to bottom: Jane Klopfer, Business Community Member; Tom Barrett, USCG, Ret., Business Community Member; Janet Weiss, Business Community Member; Pat Pitney, President, University of Alaska

RESILIENCE

Executive Management Team

Senior Management Team

Locations

ANCHORAGE

907-777-4362

Dimond Branch

8725 Old Seward Hwy.

P.O. Box 100720 Anchorage, AK 99510-0720

Eastchester Branch

1821 Gambell Street

P.O. Box 100720 Anchorage, AK 99510-0720

Metro Branch

360 K Street, Suite 100

P.O. Box 100720 Anchorage, AK 99510-0720

Muldoon Branch

1100 Muldoon Road

P.O. Box 100720 Anchorage, AK 99510-0720

North Star Branch

5850 Westover Avenue JBER, AK 99506-1603

Northern Lights Branch

1210 W. Northern Lights Blvd. P.O. Box 100720 Anchorage, AK 99510-0720

South Center Branch

201 W. 36th Avenue

P.O. Box 100720 Anchorage, AK 99510-0720

U-Med Branch

3650 Piper Street, Suite 100

P.O. Box 100720 Anchorage, AK 99510-0720

BETHEL

Kuskokwim Branch

700 Front Street

P.O. Box 286

Bethel, AK 99559-0286

907-543-7650

CORDOVA

Cordova Branch

528 First Street

P.O. Box 360 Cordova, AK 99574-0360

907-424-6700

EAGLE RIVER

Eagle River Branch

11412 Business Blvd.

Eagle River, AK 99577-7720 907-689-5200

FAIRBANKS

Golden Valley Branch

1300 Washington Drive

P.O. Box 82487

Fairbanks, AK 99708-2487

907-459-7100

Johansen Branch

430 Merhar Avenue

Fairbanks, AK 99701-3166

907-450-7300

GLENNALLEN

Glennallen Branch

Mile 187 Glenn Hwy., Suite C

P.O. Box 85

Glennallen, AK 99588-0085

907-822-7350

HAINES

Haines Branch

123 Main Street

P.O. Box 70

Haines, AK 99827-0070

907-766-6100

HEALY

Healy Branch

262 Equinox Loop P.O. Box 460 Healy, AK 99743-0460

907-683-7750

HOMER

Homer Branch

3655 Heath Street Homer, AK 99603-7667

907-235-5800

JUNEAU

Juneau Regional Branch

840 W. 10th Street

Juneau, AK 99801-1824

907-586-5400

Valley Centre Branch

8990 Glacier Hwy. Juneau, AK 99801-8030

907-790-8000

KENAI

Kenai Branch 11408 Kenai Spur Hwy. Kenai, AK 99611-7799

907-283-6800

KETCHIKAN

Ketchikan

Loan Production Office 1621 Tongass Avenue West Flight Bldg., Ste. 100 Ketchikan, AK 99901

907-220-1640

KODIAK

Kodiak Branch 218 Center Avenue Kodiak, AK 99615-6312

907-486-7900

PALMER

Palmer Branch

303 W. Evergreen Avenue Palmer, AK 99645-6954 907-746-8900

SEWARD

Seward Branch

303 4th Avenue P.O. Box 69 Seward, AK 99664-0069 907-224-4200

SITKA

Sitka Branch 318 Lincoln Street Sitka, AK 99835-7545 907-747-7000

SOLDOTNA

Soldotna Branch 44501 Sterling Hwy. Soldotna, AK 99669-7938 907-260-6000

VALDEZ

Valdez Branch 101 Egan Drive P.O. Box 37 Valdez, AK 99686-0037 907-834-4800

WASILLA

Wasilla Branch

775 E. Parks Hwy. Wasilla, AK 99654-8191 907-352-5900

Corporate Headquarters

101 W. 36th Avenue P.O. Box 100720 Anchorage, AK 99510-0720

Operations Center 1751 Gambell Street P.O. Box 100720

Anchorage, AK 99510-0720

@FNBAlaska @FNBAlaska @FNBAlaska FNBAlaska.com

Mission Statement

The bank’s multi-part mission is to safekeep depositors’ money, provide all legitimate financial services to the community consistent with bank resources, furnish employees with competitive salaries and a pleasant working environment, and earn a proper return for shareholders. For more than a century our commitment to the mission has served our customers, our employees, our communities and our shareholders well.