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.

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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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  Sep 2019 Sep 2020 %Chg
ASSETS  
Cash & Cash Equivalents $242,676,929 $277,611,461 14.40%
Government Securities $193,918,509 $175,301,189 -9.60%
Corporate CU $5,106,990 $5,106,990 0.00%
Deposit in Banks and S&L's $0 $0
Mutual Funds $84,986,012 $251,361,544 195.77%
All Other Investments $39,759,934 $35,251,975 -11.34%
Total Investments $566,448,374 $744,633,159 31.46%
       
Real Estate Loans $904,347,237 $1,033,762,327 14.31%
Auto Loans $1,138,951,183 $1,301,806,867 14.30%
All Other Loans $274,472,294 $297,826,266 8.51%
Total Loans $2,317,770,714 $2,633,395,460 13.62%
       
(Loan Loss Allow) ($14,779,403) ($19,371,699) 31.07%
       
Foreclosed & Repossessed Property $273,289 $418,666 53.20%
Land & Buildings $38,800,898 $38,454,623 -0.89%
Other Fixed Assets $13,016,320 $11,908,265 -8.51%
All Other Assets $98,437,297 $126,899,268 28.91%
TOTAL ASSETS $3,019,967,489 $3,536,337,742 17.10%
       
LIABILITIES & CAPITAL      
Dividends Payable $0 $0
Notes Payable $250,000,000 $250,000,000 0.00%
Reverse Repurchase Agreements $0 $0
Other Liabilities $29,742,397 $35,218,126 18.41%
Total Liabilities
$279,742,397 $285,218,126 1.96%
       
Regular Shares & Deposits $396,931,158 $527,471,785 32.89%
Money Market Shares $780,377,116 $990,140,407 26.88%
Share Drafts $385,889,243 $517,725,516 34.16%
IRA & Keogh $162,607,770 $169,849,602 4.45%
Share Certificates $692,913,880 $698,361,301 0.79%
Total Shares $2,418,719,167 $2,903,548,611 20.04%
       
Regular Reserve $24,767,480 $24,767,480 0.00%
FASB 115 Val Reserves ($175,511) $3,450,581 2066.02%
Undivided Earnings & Other Reserves $294,253,911 $316,692,899 7.63%
Equity Acquired in Merger $2,660,045 $2,660,045 0.00%
Total Reserves & Undivided Earnings $321,505,925 $347,571,005 8.11%
TOTAL LIABILITIES & CAPITAL $3,019,967,489 $3,536,337,742 17.10%
       
DELINQUENT LOANS      
2-6 Months Delinq. $9,612,205 $7,853,353 -18.30%
6-12 Months $2,410,653 $859,099 -64.36%
Over 12 Months $156,496 $631,951 303.81%
Total Delinquent Loans $12,179,354 $9,344,403 -23.28%
Bankruptcies $8,419,323 $5,154,997 -38.77%
Net Chargeoff (Recov) $9,888,857 $7,277,933 -26.40%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $154,673,045 5.87%
All Other Unsecured $66,921,476 2.54%
Student Loans $13,640,012 0.52%
New Auto $373,813,970 14.20%
Used Auto $927,992,897 35.24%
1st Mortgage $915,217,348 34.75%
Other Real Estate $118,544,979 4.50%
Other Loans $82,641,338 3.14%
First Mtg Fixed Rate included in above 483,101,906 18.35%
Unused Credit/Tot. Invest+Cash 92.26%  
 
  YTD 2019 YTD 2020 %Chg
INCOME:  
Loans $75,115,987 $81,979,382 9.14%
(Less Rebates) ($475,852) ($811,501) -70.54%
Investments $10,658,336 $6,107,222 -42.70%
Fee Income $15,227,975 $13,196,483 -13.34%
Trading + Other Operating $19,157,584 $21,100,386 10.14%
Total Income $119,684,030 $121,571,972 1.58%
       
EXPENSES:
Employee Compensation & Benefits $30,033,735 $34,644,568 15.35%
Travel & Conference $333,213 $334,557 0.40%
Office Occupancy $4,746,985 $4,862,414 2.43%
Office Operations $5,716,063 $5,781,106 1.14%
Education & Promotional $2,955,607 $3,765,805 27.41%
Loan Servicing $5,513,362 $6,879,692 24.78%
Professional Services $11,088,626 $11,931,300 7.60%
Member Insurance $142,050 $111,450 -21.54%
Operating Fees $382,929 $417,100 8.92%
Miscellaneous $4,116,333 $2,446,160 -40.57%
Operating Expense Subtotal $65,028,903 $71,174,152 9.45%
       
Provision for Loan Losses $7,472,240 $12,500,022 67.29%
Operating Exp. + Provision for Loan Losses $72,501,143 $83,674,174 15.41%
       
Non-Operating Gain (Loss) $787,721 $567,243 -27.99%
Income before Dividends $47,970,608 $38,465,041 -19.82%
Interest on Borrowed Funds $5,053,634 $3,709,691 -26.59%
Dividends $19,038,039 $19,508,590 2.47%
Net Income Prior to Assessments $23,878,935 $15,246,760 -36.15%
Net NCUSIF & TCCUSIF Expenses $0 $0 Infinity
Net Income $23,878,935 $15,246,760 -36.15%
       
SELECTED OPERATING DATA:      
Branches * 20 20 0.00%
Members 264,070 281,269 6.51%
Potential Members 1,600,000 1,600,000 0.00%
Employees 526 554 5.32%
Members/Employee 502 508 1.13%
Average Salary & Benefits/Employee $76,131 $83,380 9.52%
Total YTD Loan Originations $781,407,553 $995,084,256 27.35%
       
KEY RATIOS:
Operating Exp/Income 54.33% 58.54% 7.75%
Dividends/Income 15.91% 16.05% 0.88%
Net Income/Income 19.95% 12.54% -37.14%
Fee+Other Income/Income 26.37% 26.10% -1.02%
Return on Average Assets 1.09% 0.61% -43.94%
Loans/Assets 76.75% 74.47% -2.97%
Net Worth/Assets 10.65% 9.73% -8.65%
Delinquency 0.53% 0.35% -32.47%
% Invest Over 1 yr 46.86% 42.76% -8.76%
Mortgage-Backed Securities/Total Investments 36.16% 27.51% -23.91%
Yield on Investments 3.30% 1.63% -56.19%
Yield on Loans 4.47% 4.35% -2.74%
Average Cost of Funds 1.24% 1.05% -15.64%
Gross Spread 3.26% 2.86% -12.12%
Average Loan Balance $14,483 $15,920 9.92%
Average Share Balance $9,159 $10,323 12.70%
Assets/Employee $5,741,383 $6,383,281 11.18%
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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