2 YEAR REPORT

Langley

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Welcome to Search & Analyze!


Welcome to Search & Analyze on CreditUnions.com.

This is a paid feature on CreditUnions.com designed to help credit unions find other executives, build peer groups, and perform simple financial analysis. Want to gain access to these features? Click below to find the subscription option that works best for you.

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Welcome to Search & Analyze!


Welcome to Search & Analyze on CreditUnions.com.

This is a paid feature on CreditUnions.com designed to help suppliers better research and target credit unions across the United States. Subscribers can build lists, research credit union contact and vendor names, and much more! Click below to find the subscription option that works best for you.

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Welcome to Search & Analyze!


Welcome to Search & Analyze on CreditUnions.com.

This is a paid feature on CreditUnions.com designed to help credit unions find other executives, build peer groups, and perform simple financial analysis. Want to gain access to these features? Click below to find the subscription option that works best for you.

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  Mar 2020 Mar 2021 %Chg
ASSETS  
Cash & Cash Equivalents $313,602,892 $494,353,152 57.64%
Government Securities $200,620,049 $203,013,078 1.19%
Corporate CU $5,106,990 $5,106,990 0.00%
Deposit in Banks and S&L's $0 $0
Mutual Funds $132,302,250 $314,455,853 137.68%
All Other Investments $34,731,748 $32,865,554 -5.37%
Total Investments $686,363,929 $1,049,794,627 52.95%
       
Real Estate Loans $975,145,007 $991,742,126 1.70%
Auto Loans $1,136,578,890 $1,370,596,220 20.59%
All Other Loans $286,069,598 $284,979,070 -0.38%
Total Loans $2,397,793,495 $2,647,317,416 10.41%
       
(Loan Loss Allow) ($12,975,998) ($29,000,000) 123.49%
       
Foreclosed & Repossessed Property $618,286 $230,470 -62.72%
Land & Buildings $38,215,700 $42,058,265 10.05%
Other Fixed Assets $12,130,822 $11,487,125 -5.31%
All Other Assets $106,338,674 $142,715,262 34.21%
TOTAL ASSETS $3,228,484,908 $3,864,603,165 19.70%
       
LIABILITIES & CAPITAL      
Dividends Payable $0 $0
Notes Payable $250,000,000 $250,000,000 0.00%
Reverse Repurchase Agreements $0 $0
Other Liabilities $30,761,109 $41,520,855 34.98%
Total Liabilities
$280,761,109 $291,520,855 3.83%
       
Regular Shares & Deposits $430,058,605 $639,634,049 48.73%
Money Market Shares $858,765,933 $1,128,098,130 31.36%
Share Drafts $429,025,142 $614,376,242 43.20%
IRA & Keogh $167,475,692 $170,233,507 1.65%
Share Certificates $729,923,066 $659,916,225 -9.59%
Total Shares $2,615,248,438 $3,212,258,153 22.83%
       
Regular Reserve $24,767,480 $24,767,480 0.00%
FASB 115 Val Reserves $3,349,148 $1,992,863 -40.50%
Undivided Earnings & Other Reserves $301,698,688 $331,403,769 9.85%
Equity Acquired in Merger $2,660,045 $2,660,045 0.00%
Total Reserves & Undivided Earnings $332,475,361 $360,824,157 8.53%
TOTAL LIABILITIES & CAPITAL $3,228,484,908 $3,864,603,165 19.70%
       
DELINQUENT LOANS      
2-6 Months Delinq. $7,505,003 $5,148,119 -31.40%
6-12 Months $948,472 $2,543,353 168.15%
Over 12 Months $653,435 $861,299 31.81%
Total Delinquent Loans $9,106,910 $8,552,771 -6.08%
Bankruptcies $2,290,252 $1,003,577 -56.18%
Net Chargeoff (Recov) $3,101,897 $1,855,391 -40.19%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $151,974,691 5.74%
All Other Unsecured $61,182,906 2.31%
Student Loans $14,537,769 0.55%
New Auto $370,760,024 14.01%
Used Auto $999,836,196 37.77%
1st Mortgage $884,911,329 33.43%
Other Real Estate $106,830,797 4.04%
Other Loans $84,382,389 3.19%
First Mtg Fixed Rate included in above 481,250,198 18.18%
Unused Credit/Tot. Invest+Cash 73.73%  
 
  YTD 2020 YTD 2021 %Chg
INCOME:  
Loans $26,937,627 $28,273,492 4.96%
(Less Rebates) ($254,353) ($268,583) -5.59%
Investments $2,839,801 $1,314,487 -53.71%
Fee Income $4,947,466 $4,807,022 -2.84%
Trading + Other Operating ($186,828) $8,021,064 4393.29%
Total Income $34,283,713 $42,147,482 22.94%
       
EXPENSES:
Employee Compensation & Benefits $10,907,867 $12,246,542 12.27%
Travel & Conference $164,433 $61,522 -62.59%
Office Occupancy $1,603,733 $1,611,055 0.46%
Office Operations $1,960,220 $2,097,683 7.01%
Education & Promotional $1,382,466 $1,816,342 31.38%
Loan Servicing $2,060,082 $2,595,709 26.00%
Professional Services $3,878,567 $4,987,659 28.60%
Member Insurance $37,150 $36,250 -2.42%
Operating Fees $139,033 $122,575 -11.84%
Miscellaneous $936,857 $536,943 -42.69%
Operating Expense Subtotal $23,070,408 $26,112,280 13.19%
       
Provision for Loan Losses $1,928,283 $1,855,390 -3.78%
Operating Exp. + Provision for Loan Losses $24,998,691 $27,967,670 11.88%
       
Non-Operating Gain (Loss) ($199,846) ($135,408) 32.24%
Income before Dividends $9,085,176 $14,044,404 54.59%
Interest on Borrowed Funds $1,719,243 $822,720 -52.15%
Dividends $7,121,810 $4,584,307 -35.63%
Net Income Prior to Assessments $244,123 $8,637,377 3438.13%
Net NCUSIF & TCCUSIF Expenses $0 $0 1335.50%
Net Income $244,123 $8,637,377 3438.13%
       
SELECTED OPERATING DATA:      
Branches * 20 20 0.00%
Members 270,194 289,618 7.19%
Potential Members 1,600,000 1,600,000 0.00%
Employees 542 579 6.83%
Members/Employee 499 500 0.34%
Average Salary & Benefits/Employee $80,501 $84,605 5.10%
Total YTD Loan Originations $254,286,678 $324,976,116 27.80%
       
KEY RATIOS:
Operating Exp/Income 67.29% 61.95% -7.93%
Dividends/Income 20.77% 10.88% -47.64%
Net Income/Income 0.71% 20.49% 2777.99%
Fee+Other Income/Income 29.03% 30.44% 4.84%
Return on Average Assets 0.03% 0.92% 2889.50%
Loans/Assets 74.27% 68.50% -7.77%
Net Worth/Assets 10.19% 9.28% -8.92%
Delinquency 0.38% 0.32% -14.94%
% Invest Over 1 yr 40.02% 37.25% -6.92%
Mortgage-Backed Securities/Total Investments 34.17% 21.84% -36.08%
Yield on Investments -1.44% 0.52% -70.23%
Yield on Loans 4.50% 4.23% -6.01%
Average Cost of Funds 1.26% 0.64% -48.79%
Gross Spread 2.23% 2.79% 25.28%
Average Loan Balance $14,968 $16,096 7.53%
Average Share Balance $9,679 $11,091 14.59%
Assets/Employee $5,956,614 $6,674,617 12.05%
Avail for Sale/Total Investments 0.00% 0.00%

* The number of branches is not available for the current quarter. The previous quarter's value is used in its place.
+ as currently reported by the NCUA
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