First Interstate BancSystem : Closes $30 Million Financing for New Clatskanie Sawmill

About this update from First Interstate Bancsystem, Inc.

The project will create at least 35 jobs, expand timber production, and support forest restoration in northwest Oregon. Financing Supports Rural Jobs First Interstate closed a $30 million financing package in July 2026 for a new sawmill in Clatskanie, Oregon. The project will expand operations for Myers Woodline, Inc., a second-generation, family-owned company based in Sheridan, Oregon. Clatskanie Scion LLC secured the financing to build the sawmill and install related equipment. The facility will turn small-diameter logs into industrial lumber products. It is expected to create at least 35 jobs and add timber processing capacity in Columbia County. A New Financing Model First Interstate structured the package through two U.S. Department of Agriculture loan guarantee programs: the Timber Production and Expansion Guaranteed Loan Program and the Business & Industry Guaranteed Loan Program. First Interstate is the first bank in Oregon to use the timber program. The timber program brings together USDA Rural Development and the U.S. Forest Service. It helps wood processing facilities open, reopen, expand, or improve their operations. It also creates a market for material removed through forest restoration work. Using that material can reduce excess forest fuel and support efforts to lower wildfire risk. Partnership Moves Project Forward The financing closed after more than three years of work among public agencies, local partners, and private stakeholders. "This was a complex transaction that took time, persistence, and a lot of coordination to get across the finish line," said Amaya Urzaa, Commercial Market President at First Interstate. "I'm proud of the team and the partnership behind it, and excited about what this means for the Clatskanie community." Brian Myers, President of Myers Woodline, Inc., said each partner helped the project adapt as plans evolved. "This was a complex project, but each pivot point along the way became an answer to prayer in an unexpected way," Myers said. "We're grateful for the support from the USDA, Columbia County, Business Oregon, and First Interstate. It was truly a collective effort and a testament to the patience and resilience of everyone who believed in it." Construction Begins in 2026 Construction is set to begin in 2026. The sawmill is expected to start operations in 2027. The project will connect forest restoration work with domestic lumber production. It will also support jobs and economic activity in Clatskanie and the surrounding region. Learn More Learn how our experienced relationship managers help businesses plan for growth. Explore business lending solutions at firstinterstate.com Recent News July 13, 2026 First Interstate Named to TIME's America's Best Companies 2026 May 27, 2026 First Interstate Named to Two Newsweek America's Greatest Workplaces Lists May 27, 2026 Step-Up Authentication Now Available

View stock analysis, news, and events for First Interstate Bancsystem, Inc.