2 YEAR REPORT

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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 $172,646,206 $432,302,063 150.40%
Government Securities $167,890,227 $247,425,196 47.37%
Corporate CU $1,009,506 $1,009,506 0.00%
Deposit in Banks and S&L's $2,133,000 $490,000 -77.03%
Mutual Funds $568,900 $617,194 8.49%
All Other Investments $7,460,963 $7,502,000 0.55%
Total Investments $351,708,802 $689,345,959 96.00%
       
Real Estate Loans $1,073,058,422 $1,232,774,592 14.88%
Auto Loans $624,359,914 $680,573,700 9.00%
All Other Loans $438,998,194 $480,507,170 9.46%
Total Loans $2,136,416,530 $2,393,855,462 12.05%
       
(Loan Loss Allow) ($19,512,378) ($29,573,919) 51.56%
       
Foreclosed & Repossessed Property $491,582 $367,758 -25.19%
Land & Buildings $48,189,183 $46,518,764 -3.47%
Other Fixed Assets $11,376,256 $9,723,792 -14.53%
All Other Assets $83,256,960 $85,465,643 2.65%
TOTAL ASSETS $2,611,926,935 $3,195,703,459 22.35%
       
LIABILITIES & CAPITAL      
Dividends Payable $0 $0
Notes Payable $107,500,000 $90,500,000 -15.81%
Reverse Repurchase Agreements $0 $0
Other Liabilities $26,954,877 $35,445,808 31.50%
Total Liabilities
$134,454,877 $125,945,808 -6.33%
       
Regular Shares & Deposits $1,412,560,698 $601,071,559 -57.45%
Money Market Shares $0 $828,306,718 Infinity
Share Drafts $195,032,741 $836,723,500 329.02%
IRA & Keogh $106,509,454 $109,180,147 2.51%
Share Certificates $495,554,597 $397,542,954 -19.78%
Total Shares $2,209,657,490 $2,772,824,878 25.49%
       
Regular Reserve $8,323,182 $8,323,182 0.00%
FASB 115 Val Reserves $2,277,330 $149,151 -93.45%
Undivided Earnings & Other Reserves $255,404,533 $286,650,917 12.23%
Equity Acquired in Merger $1,809,523 $1,809,523 0.00%
Total Reserves & Undivided Earnings $267,814,568 $296,932,773 10.87%
TOTAL LIABILITIES & CAPITAL $2,611,926,935 $3,195,703,459 22.35%
       
DELINQUENT LOANS      
2-6 Months Delinq. $3,698,434 $852,867 -76.94%
6-12 Months $205,229 $1,100,899 436.42%
Over 12 Months $400,803 $101,907 -74.57%
Total Delinquent Loans $4,304,466 $2,055,673 -52.24%
Bankruptcies $1,373,456 $970,127 -29.37%
Net Chargeoff (Recov) $3,222,599 $928,605 -71.18%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $74,802,939 3.12%
All Other Unsecured $103,282,997 4.31%
Student Loans $0 0.00%
New Auto $177,154,905 7.40%
Used Auto $503,418,795 21.03%
1st Mortgage $1,090,605,614 45.56%
Other Real Estate $142,168,978 5.94%
Other Loans $302,421,234 12.63%
First Mtg Fixed Rate included in above 219,760,257 9.18%
Unused Credit/Tot. Invest+Cash 53.75%  
 
  YTD 2020 YTD 2021 %Chg
INCOME:  
Loans $28,119,783 $26,988,378 -4.02%
(Less Rebates) $0 $0
Investments $1,345,945 $860,321 -36.08%
Fee Income $3,784,188 $4,158,643 9.90%
Trading + Other Operating $5,125,055 $8,389,717 63.70%
Total Income $38,374,971 $40,397,059 5.27%
       
EXPENSES:
Employee Compensation & Benefits $13,532,982 $15,341,279 13.36%
Travel & Conference $202,791 $97,681 -51.83%
Office Occupancy $1,202,794 $1,164,282 -3.20%
Office Operations $3,316,023 $3,311,770 -0.13%
Education & Promotional $782,230 $795,646 1.72%
Loan Servicing $1,985,619 $2,143,210 7.94%
Professional Services $1,077,577 $1,380,239 28.09%
Member Insurance $0 $0
Operating Fees $45,012 $52,969 17.68%
Miscellaneous $847,472 $418,664 -50.60%
Operating Expense Subtotal $22,992,500 $24,705,740 7.45%
       
Provision for Loan Losses $4,140,000 $2,000,000 -51.69%
Operating Exp. + Provision for Loan Losses $27,132,500 $26,705,740 -1.57%
       
Non-Operating Gain (Loss) $251,541 $88,516 -64.81%
Income before Dividends $11,494,012 $13,779,835 19.89%
Interest on Borrowed Funds $642,017 $472,802 -26.36%
Dividends $5,943,323 $3,977,617 -33.07%
Net Income Prior to Assessments $4,908,672 $9,329,416 90.06%
Net NCUSIF & TCCUSIF Expenses $0 $0
Net Income $4,908,672 $9,329,416 90.06%
       
SELECTED OPERATING DATA:      
Branches * 22 22 0.00%
Members 154,953 161,824 4.43%
Potential Members 1,118,769 1,166,108 4.23%
Employees 558 599 7.26%
Members/Employee 278 270 -2.63%
Average Salary & Benefits/Employee $97,011 $102,532 5.69%
Total YTD Loan Originations $342,187,801 $439,088,725 28.32%
       
KEY RATIOS:
Operating Exp/Income 59.92% 61.16% 2.07%
Dividends/Income 15.49% 9.85% -36.42%
Net Income/Income 12.79% 23.09% 80.55%
Fee+Other Income/Income 23.42% 31.06% 32.65%
Return on Average Assets 0.77% 1.20% 56.89%
Loans/Assets 81.79% 74.91% -8.42%
Net Worth/Assets 10.16% 9.28% -8.64%
Delinquency 0.20% 0.09% -57.38%
% Invest Over 1 yr 42.95% 30.61% -28.75%
Mortgage-Backed Securities/Total Investments 45.16% 38.55% -14.64%
Yield on Investments 1.71% 0.54% -70.33%
Yield on Loans 5.37% 4.54% -15.45%
Average Cost of Funds 1.17% 0.64% -44.73%
Gross Spread 3.80% 3.29% -13.40%
Average Loan Balance $17,248 $19,698 14.20%
Average Share Balance $14,260 $17,135 20.16%
Assets/Employee $4,680,873 $5,339,521 14.07%
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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