2 YEAR REPORT

ORNL


  Jun 2020 Jun 2021 %Chg
ASSETS  
Cash & Cash Equivalents $377,826,494 $387,189,710 2.48%
Government Securities $105,730,237 $223,539,020 111.42%
Corporate CU $1,801,832 $1,828,099 1.46%
Deposit in Banks and S&L's $3,224,000 $5,208,000 61.54%
Mutual Funds $16,121,272 $67,924,268 321.33%
All Other Investments $9,410,700 $9,162,700 -2.64%
Total Investments $514,114,535 $694,851,797 35.16%
       
Real Estate Loans $1,232,186,481 $1,337,963,017 8.58%
Auto Loans $581,400,154 $684,180,010 17.68%
All Other Loans $137,918,630 $118,590,037 -14.01%
Total Loans $1,951,505,265 $2,140,733,064 9.70%
       
(Loan Loss Allow) ($19,241,833) ($24,740,437) 28.58%
       
Foreclosed & Repossessed Property $4,575,240 $2,831,673 -38.11%
Land & Buildings $46,192,663 $48,330,938 4.63%
Other Fixed Assets $9,607,618 $6,592,145 -31.39%
All Other Assets $73,996,864 $76,174,238 2.94%
TOTAL ASSETS $2,580,750,352 $2,944,773,418 14.11%
       
LIABILITIES & CAPITAL      
Dividends Payable $2,646,651 $3,000,104 13.35%
Notes Payable $131,537,582 $108,207,592 -17.74%
Reverse Repurchase Agreements $0 $0
Other Liabilities $69,996,720 $78,231,290 11.76%
Total Liabilities
$204,180,953 $189,438,986 -7.22%
       
Regular Shares & Deposits $863,343,622 $1,129,744,898 30.86%
Money Market Shares $392,504,563 $504,534,509 28.54%
Share Drafts $263,877,645 $314,213,779 19.08%
IRA & Keogh $122,428,518 $119,621,937 -2.29%
Share Certificates $477,343,737 $397,545,366 -16.72%
Total Shares $2,119,498,085 $2,465,660,489 16.33%
       
Regular Reserve $8,270,000 $8,270,000 0.00%
FASB 115 Val Reserves ($11,454,322) ($11,085,150) 3.22%
Undivided Earnings & Other Reserves $260,255,636 $292,489,093 12.39%
Equity Acquired in Merger $0 $0
Total Reserves & Undivided Earnings $257,071,314 $289,673,943 12.68%
TOTAL LIABILITIES & CAPITAL $2,580,750,352 $2,944,773,418 14.11%
       
DELINQUENT LOANS      
2-6 Months Delinq. $12,222,280 $9,899,160 -19.01%
6-12 Months $2,413,522 $2,447,139 1.39%
Over 12 Months $1,110,956 $2,084,190 87.60%
Total Delinquent Loans $15,746,758 $14,430,489 -8.36%
Bankruptcies $1,838,139 $1,052,404 -42.75%
Net Chargeoff (Recov) $2,121,080 $1,776,779 -16.23%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $35,331,912 1.65%
All Other Unsecured $26,164,769 1.22%
Student Loans $832,252 0.04%
New Auto $227,787,311 10.64%
Used Auto $456,392,699 21.32%
1st Mortgage $1,260,449,378 58.88%
Other Real Estate $77,513,639 3.62%
Other Loans $57,190,714 2.67%
First Mtg Fixed Rate included in above 902,045,415 42.14%
Unused Credit/Tot. Invest+Cash 41.21%  
 
  YTD 2020 YTD 2021 %Chg
INCOME:  
Loans $40,377,928 $39,489,573 -2.20%
(Less Rebates) $0 $0
Investments $828,201 $1,594,157 92.48%
Fee Income $11,442,270 $11,470,540 0.25%
Trading + Other Operating $7,481,007 $11,447,254 53.02%
Total Income $60,129,406 $64,001,524 6.44%
       
EXPENSES:
Employee Compensation & Benefits $18,022,517 $17,193,217 -4.60%
Travel & Conference $118,805 $88,904 -25.17%
Office Occupancy $2,520,600 $2,494,498 -1.04%
Office Operations $6,915,080 $8,234,765 19.08%
Education & Promotional $673,039 $449,936 -33.15%
Loan Servicing $3,120,387 $3,185,023 2.07%
Professional Services $3,622,166 $4,505,614 24.39%
Member Insurance $0 $0
Operating Fees $251,771 $219,004 -13.01%
Miscellaneous $514,961 $628,220 21.99%
Operating Expense Subtotal $35,759,326 $36,999,181 3.47%
       
Provision for Loan Losses $3,800,000 $2,950,000 -22.37%
Operating Exp. + Provision for Loan Losses $39,559,326 $39,949,181 0.99%
       
Non-Operating Gain (Loss) $1,120,627 $1,768,783 57.84%
Income before Dividends $21,690,707 $25,821,126 19.04%
Interest on Borrowed Funds $1,502,048 $1,327,410 -11.63%
Dividends $8,653,194 $6,432,997 -25.66%
Net Income Prior to Assessments $11,535,465 $18,060,719 56.57%
Net NCUSIF & TCCUSIF Expenses $0 $0 387.18%
Net Income $11,535,465 $18,060,719 56.57%
       
SELECTED OPERATING DATA:      
Branches * 31 28 -9.68%
Members 176,983 211,879 19.72%
Potential Members 1,216,552 1,324,510 8.87%
Employees 447 439 -1.79%
Members/Employee 396 483 21.90%
Average Salary & Benefits/Employee $80,638 $78,329 -2.86%
Total YTD Loan Originations $440,328,428 $298,218,341 -32.27%
       
KEY RATIOS:
Operating Exp/Income 59.47% 57.81% -2.79%
Dividends/Income 14.39% 10.05% -30.16%
Net Income/Income 19.18% 28.22% 47.09%
Fee+Other Income/Income 33.01% 35.81% 8.49%
Return on Average Assets 0.94% 1.27% 35.60%
Loans/Assets 75.62% 72.70% -3.86%
Net Worth/Assets 10.38% 10.19% -1.84%
Delinquency 0.81% 0.67% -16.46%
% Invest Over 1 yr 18.20% 42.64% 134.30%
Mortgage-Backed Securities/Total Investments 0.47% 0.32% -33.08%
Yield on Investments -0.05% 0.53% 34.23%
Yield on Loans (including Loans Held-for-Sale) 4.17% 3.76% -9.80%
Average Cost of Funds 0.95% 0.62% -33.98%
Gross Spread 2.61% 2.51% -3.96%
Average Loan Balance $20,943 $26,936 28.61%
Average Share Balance $11,976 $11,637 -2.83%
Assets/Employee $5,773,491 $6,707,912 16.18%
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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