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 2019 Mar 2020 %Chg
ASSETS  
Cash & Cash Equivalents $197,550,082 $172,646,206 -12.61%
Government Securities $151,832,567 $167,890,227 10.58%
Corporate CU $1,009,506 $1,009,506 0.00%
Deposit in Banks and S&L's $3,533,000 $2,133,000 -39.63%
Mutual Funds $605,591 $568,900 -6.06%
All Other Investments $6,408,063 $7,460,963 16.43%
Total Investments $360,938,809 $351,708,802 -2.56%
       
Real Estate Loans $833,625,308 $1,073,058,422 28.72%
Auto Loans $582,003,421 $624,359,914 7.28%
All Other Loans $439,984,522 $438,998,194 -0.22%
Total Loans $1,855,613,251 $2,136,416,530 15.13%
       
(Loan Loss Allow) ($17,570,800) ($19,512,378) 11.05%
       
Foreclosed & Repossessed Property $975,293 $491,582 -49.60%
Land & Buildings $41,780,280 $48,189,183 15.34%
Other Fixed Assets $10,584,549 $11,376,256 7.48%
All Other Assets $75,689,054 $83,256,960 10.00%
TOTAL ASSETS $2,328,010,436 $2,611,926,935 12.20%
       
LIABILITIES & CAPITAL      
Dividends Payable $0 $0
Notes Payable $84,750,000 $107,500,000 26.84%
Reverse Repurchase Agreements $0 $0
Other Liabilities $35,671,599 $26,954,877 -24.44%
Total Liabilities
$120,421,599 $134,454,877 11.65%
       
Regular Shares & Deposits $1,251,142,776 $1,412,560,698 12.90%
Money Market Shares $0 $0
Share Drafts $184,570,191 $195,032,741 5.67%
IRA & Keogh $90,335,727 $106,509,454 17.90%
Share Certificates $443,026,556 $495,554,597 11.86%
Total Shares $1,969,075,250 $2,209,657,490 12.22%
       
Regular Reserve $8,323,182 $8,323,182 0.00%
FASB 115 Val Reserves ($1,996,989) $2,277,330 214.04%
Undivided Earnings & Other Reserves $230,377,873 $255,404,533 10.86%
Equity Acquired in Merger $1,809,521 $1,809,523 0.00%
Total Reserves & Undivided Earnings $238,513,587 $267,814,568 12.28%
TOTAL LIABILITIES & CAPITAL $2,328,010,436 $2,611,926,935 12.20%
       
DELINQUENT LOANS      
2-6 Months Delinq. $3,285,887 $3,698,434 12.56%
6-12 Months $676,207 $205,229 -69.65%
Over 12 Months $864,613 $400,803 -53.64%
Total Delinquent Loans $4,826,707 $4,304,466 -10.82%
Bankruptcies $1,255,063 $1,373,456 9.43%
Net Chargeoff (Recov) $2,747,780 $3,222,599 17.28%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $89,557,685 4.19%
All Other Unsecured $31,167,084 1.46%
Student Loans $0 0.00%
New Auto $159,296,640 7.46%
Used Auto $465,063,274 21.77%
1st Mortgage $939,698,574 43.98%
Other Real Estate $133,359,848 6.24%
Other Loans $318,273,425 14.90%
First Mtg Fixed Rate included in above 167,741,761 7.85%
Unused Credit/Tot. Invest+Cash 88.19%  
 
  YTD 2019 YTD 2020 %Chg
INCOME:  
Loans $24,852,881 $28,119,783 13.14%
(Less Rebates) $0 $0
Investments $1,643,195 $1,345,945 -18.09%
Fee Income $3,709,877 $3,784,188 2.00%
Trading + Other Operating $5,021,796 $5,125,055 2.06%
Total Income $35,227,749 $38,374,971 8.93%
       
EXPENSES:
Employee Compensation & Benefits $12,444,284 $13,532,982 8.75%
Travel & Conference $276,172 $202,791 -26.57%
Office Occupancy $1,019,638 $1,202,794 17.96%
Office Operations $2,696,937 $3,316,023 22.96%
Education & Promotional $986,292 $782,230 -20.69%
Loan Servicing $1,682,627 $1,985,619 18.01%
Professional Services $1,041,135 $1,077,577 3.50%
Member Insurance $0 $0
Operating Fees $56,154 $45,012 -19.84%
Miscellaneous $424,089 $847,472 99.83%
Operating Expense Subtotal $20,627,328 $22,992,500 11.47%
       
Provision for Loan Losses $2,640,000 $4,140,000 56.82%
Operating Exp. + Provision for Loan Losses $23,267,328 $27,132,500 16.61%
       
Non-Operating Gain (Loss) $50,691 $251,541 396.22%
Income before Dividends $12,011,112 $11,494,012 -4.31%
Interest on Borrowed Funds $522,660 $642,017 22.84%
Dividends $5,062,198 $5,943,323 17.41%
Net Income Prior to Assessments $6,426,254 $4,908,672 -23.62%
Net NCUSIF & TCCUSIF Expenses $0 $0
Net Income $6,426,254 $4,908,672 -23.62%
       
SELECTED OPERATING DATA:      
Branches * 22 22 0.00%
Members 148,686 154,953 4.21%
Potential Members 1,118,769 1,118,769 0.00%
Employees 548 558 1.92%
Members/Employee 272 278 2.25%
Average Salary & Benefits/Employee $90,917 $97,011 6.70%
Total YTD Loan Originations $201,503,736 $342,187,801 69.82%
       
KEY RATIOS:
Operating Exp/Income 58.55% 59.92% 2.32%
Dividends/Income 14.37% 15.49% 7.78%
Net Income/Income 18.24% 12.79% -29.88%
Fee+Other Income/Income 24.60% 23.42% -4.80%
Return on Average Assets 1.12% 0.77% -31.54%
Loans/Assets 79.71% 81.79% 2.62%
Net Worth/Assets 10.32% 10.16% -1.59%
Delinquency 0.26% 0.20% -22.54%
% Invest Over 1 yr 29.04% 42.95% 47.91%
Mortgage-Backed Securities/Total Investments 33.62% 45.16% 34.34%
Yield on Investments 2.05% 1.71% -7.98%
Yield on Loans 5.36% 5.37% 0.21%
Average Cost of Funds 1.10% 1.16% 5.49%
Gross Spread 3.86% 3.80% -1.71%
Average Loan Balance $15,141 $17,248 13.92%
Average Share Balance $13,243 $14,260 7.68%
Assets/Employee $4,252,074 $4,680,873 10.08%
Avail for Sale/Total Investments 45.60% 0.00% -100.00%

* 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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