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AIDEA Loan Portfolio: Diversity and Performance |
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, 2011, the outstanding loan portfolio consisted of 301 loans that had an outstanding principal balance of $480.7 million and were allocated by loan program type as shown in the table below.
|
Outstanding Loan Portfolio Balance as of June 30, 2011
(000's)
(unaudited figures subject to change) |
| Loan Program Type |
# |
$ Amount |
| Appropriated |
1 |
32 |
| Loan Participation: |
|
|
| Bonds outstanding |
1 |
11,982 |
| Bonds retired |
1 |
767 |
| Internally funded |
255 |
420,397 |
| OREO sale financing |
5 |
21,234 |
| Other |
1 |
2,770 |
| Purchased Loans |
37 |
23,510 |
| Total |
301 |
480,692 |
|
Loan Portfolio Delinquency as of June 30, 2011
(000's)
(unaudited figures subject to change) |
| Loan Status |
% |
$ Amount |
| Current: |
99.35 |
477,564 |
| Past Due: |
|
|
| 31-60 days |
0.59 |
* 2,826 |
| 61-90 days |
0 |
0 |
| Over 90 days |
0.06 |
302 |
| Total |
100% |
480,692 |
*Due to remittance timing rather than ability to pay.
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The following two tables show the loan portfolio diversity,
first by geographic region and then by industry.
Diversification by Geographic Region as of June 30, 2011
(unaudited figures subject to change)
|
| Region |
% of Total Outstanding Principal Balance
|
| Anchorage |
55.55 |
| Interior |
6.64 |
| Northern |
1.67 |
| Mat-Su |
9.22 |
| Gulf Coast |
6.35 |
| Southeast |
20.31 |
| Southwest |
0.26 |
|
Diversification by Industry in Alaska as of June 30, 2011
(unaudited figures subject to change) |
Industry |
% of Total Outstanding Principal Balance |
| Healthcare |
5.02 |
| Hangar/Terminal |
3.77 |
| Office/Warehouse |
9.17 |
| Recreation |
2.97 |
| Office/Business Condo |
17.68 |
| Retail |
20.43 |
| Tourism: Hotel/Lodge |
20.86 |
| Warehouse/Shop |
5.46 |
| Manufacturing |
0.70 |
| Car Wash |
3.28 |
| Vessel |
4.54 |
| Wastewater Facility |
2.77 |
| Other* |
3.35 |
| |
100% |
*Includes Equipment, Laundromats, Aircraft and Restaurants.
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Financial Institutions Utilizing AIDEA’s Loan Participation Program
(000's)
(unaudited figures subject to change)
|
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. The portion of the portfolio indicated as "AIDEA" includes AIDEA's original loan participations from failed banks, loan participations purchased from FDIC, who in turn acquired them from failed banks, loans originated from the sale of other real estate owned (OREO), loans appropriated to AIDEA from the State of Alaska, a loan to AEL&P for Snettisham, Power Project Fund Loans purchased from AEA, and a loan participation to Valley Utilities, LLC.
|
Financial Institution
|
Number of Loans |
Principal Balance |
% of Total $ |
Alaska Pacific Bank
(fka Alaska Federal Savings) |
18 |
$31,549 |
6.56% |
| KeyBank N.A. |
11 |
$16,048 |
3.34% |
| First Bank |
8 |
$12,366 |
2.57% |
| First National Bank Alaska |
119 |
$154,112 |
32.06% |
| Wells Fargo Bank Alaska N.A. |
45 |
$100,793 |
20.97% |
| Denali State Bank |
2 |
$2,528 |
0.53% |
| Northrim Bank |
39 |
$62,378 |
12.98% |
| Sterling Savings Bank |
3 |
$11,571 |
2.41% |
| Alaska USA Federal Credit Union |
7 |
$25,916 |
5.39% |
| AIDEA |
46 |
$60,295 |
12.54% |
| Matanuska Valley FCU |
2 |
$956 |
0.20% |
| Mt. McKinley Bank |
1 |
$2,180 |
0.45% |
| Total |
301 |
$480,692 |
100% |
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