First Interstate BancSystem(US:FIBK)2021-01-29 22:56Financial Performance & Asset Mix - Total assets were $17.7 billion[5] - Total deposits reached $14.2 billion[5] - Net loans accounted for 54.8% of the asset mix[6] - Investment securities represented 23.0% of the asset mix[6] - Deposits made up 90.6% of the liability mix[6] - Net interest income contributed 79.1% to the Q4 2020 revenue[6] - Non-interest income accounted for 20.9% of the Q4 2020 revenue[6] Pandemic Response - PPP Loans - The company originated PPP loans totaling $370 million for loans under $150K, $219 million for loans between $150K and $350K, $421 million for loans between $350K and $2MM, and $154 million for loans over $2MM[11] - PPP loan forgiveness status as of 12/31/20: $201 million forgiveness requested for loans under $150K with $134 million funded, $142 million forgiveness requested for loans between $150K and $350K with $89 million funded, $310 million forgiveness requested for loans between $350K and $2MM with $204 million funded, and $68 million forgiveness requested for loans over $2MM with no amount funded[12] - The company pledged an additional $1 million in 2020 to support communities[16] Loan Portfolio & Credit Quality - The loan portfolio totaled $9.8 billion[33] - Agriculture RE accounted for 22% of the loan mix[33] - Commercial RE represented 38% of the loan mix[33] - Consumer loans made up 10% of the loan mix[33] - The hospitality portfolio exposure totaled $755.7 million with $57.9 million in unfunded commitments, representing 7.7% of the total loan portfolio[47, 48] - The agriculture portfolio exposure totaled $468.2 million with $163.9 million in unfunded commitments, representing 4.8% of the total loan portfolio[61, 62]