Banks see positives in economy amid budget debate

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Alaska banks are seeing positives in the state economy despite uncertainties caused by the state’s budget situation.

The largest in-state banks, First National Bank Alaska and Northrim Bank each had solid results in the second quarter, although Northrim couldn’t match a particularly strong 2018.

Northrim netted a $4.2 million profit during the quarter, a 26 percent year-over-year drop largely due to the fact that the second quarter 2018 was a very good period for the bank and higher interest rates helped generate a $5.8 million net income, Chief Financial Officer Jed Ballard said.

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