Loan programs play an important role in fulfilling AIDEA's mission, while also providing a long-term investment for AIDEA. Through loan participations and loan guarantees with the banking community, AIDEA provides opportunities to finance the establishment, operation and development of industrial, manufacturing, export, small business and business enterprises.
As of June 30, 2019, AIDEA’s outstanding loan portfolio consisted of 268 loans that had an outstanding principal balance of $444,943 million and were allocated by loan program type as shown in the table below.
Outstanding Loan Portfolio Balance
as of June 30, 2019
Loan Program Type
|
#
|
$ Amount (000's)
|
Loan Participation: |
|
|
Bonds Outstanding |
1 |
10,866 |
Internally Funded |
257 |
420,815 |
OREO Sale Financing |
1 |
100 |
Other |
0 |
0 |
Purchased Loans |
23 |
13,142 |
TOTAL |
282 |
$444,923 |
Loan Portfolio Delinquency
as of June 30, 2019
Loan Status
|
%
|
$ Amount (000's)
|
Current |
99.46 |
442,531 |
Past Due |
|
|
31-60 days |
.54 |
2,412 |
61-90 days |
0 |
|
Over 90 days |
0 |
0 |
TOTAL |
100% |
$444,943 |
The following two tables show the loan portfolio diversity, first by geographic region and then by industry.
Loan Participations - Diversification by Geographic Region
as of June 30, 2019
Percentage of Outstanding Principal Balance
(insert pie chart 1)
Diversification by Industry
as of June 30, 2019
Percentage of Outstanding Principal Balance
(insert pie chart 2)
Financial Institutions Utilizing AIDEA's Loan Programs
AIDEA purchases loan participations from a number of financial institutions both inside and outside of Alaska. The following table shows a breakdown of the portfolio by originator. In the table, the AIDEA portfolio includes loans originated from the sale of other real estate owned (OREO), Power Project Fund loans purchased from AEA, and a loan participation to Valley Utilities, LLC.
(Unaudited figures. Subject to change.)
Financial institution |
Number of Loans |
Principal Balance ($000's) |
% of Total $ |
First National Bank Alaska |
136 |
166,025 |
37.31% |
Wells Fargo Bank Alaska N.A. |
15 |
29,766 |
6.69% |
Northrim Bank |
78 |
171,327 |
38.5% |
100% AIDEA Owned |
25 |
24,128 |
5.43% |
Alaska USA Federal Credit Union |
15 |
22,363 |
5.25% |
Key Bank N.A. |
7 |
9,692 |
2.18% |
First Bank |
8 |
15,316 |
3.44% |
Denali, a division of Nuvision Credit Union |
1 |
3,995 |
0.93% |
Mt. McKinley Bank |
1 |
1,239 |
0.28% |
Matanuska Valley FCU |
1 |
222 |
0.05% |
TOTAL |
282 |
$444,943 |
100% |