2 YEAR REPORT

Redwood

BACK TO SEARCH
  Select Cycle:

LOG-IN

The page you are trying to access requires users to be logged in. Please log in now or register for an account to continue.

Log In


Log In

Need to register?


Register



Not sure if you have an account?

Please enter your email and click the Check Registration button.

Back to CreditUnions.com

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.

View Options

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.

View Options

Are you a credit union employee and seeing this in error? Please contact us here.

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.

View Options

     

  Sep 2019 Sep 2020 %Chg
ASSETS  
Cash & Cash Equivalents $760,362,850 $1,390,062,368 82.82%
Government Securities $417,687 $365,535 -12.49%
Corporate CU $0 $248,814 Infinity
Deposit in Banks and S&L's $0 $0
Mutual Funds $0 $0
All Other Investments $15,000,000 $15,000,000 0.00%
Total Investments $775,780,537 $1,405,676,717 81.20%
       
Real Estate Loans $2,250,741,586 $2,524,357,856 12.16%
Auto Loans $1,173,134,058 $1,256,330,220 7.09%
All Other Loans $441,552,276 $559,585,479 26.73%
Total Loans $3,865,427,920 $4,340,273,555 12.28%
       
(Loan Loss Allow) ($29,776,405) ($45,745,698) 53.63%
       
Foreclosed & Repossessed Property $331,435 $260,304 -21.46%
Land & Buildings $46,611,170 $59,071,370 26.73%
Other Fixed Assets $14,493,095 $16,783,006 15.80%
All Other Assets $143,126,534 $173,698,906 21.36%
TOTAL ASSETS $4,815,994,286 $5,950,018,160 23.55%
       
LIABILITIES & CAPITAL      
Dividends Payable $555,344 $291,740 -47.47%
Notes Payable $0 $0
Reverse Repurchase Agreements $0 $0
Other Liabilities $30,588,364 $37,060,654 21.16%
Total Liabilities
$31,143,708 $37,352,394 19.94%
       
Regular Shares & Deposits $1,824,521,080 $2,414,284,349 32.32%
Money Market Shares $1,412,382,652 $1,736,380,751 22.94%
Share Drafts $237,901,039 $302,732,345 27.25%
IRA & Keogh $141,209,501 $159,759,787 13.14%
Share Certificates $558,423,093 $619,428,462 10.92%
Total Shares $4,174,437,365 $5,232,585,694 25.35%
       
Regular Reserve $19,074,605 $19,074,605 0.00%
FASB 115 Val Reserves $39,226 $44,227 12.75%
Undivided Earnings & Other Reserves $589,299,264 $658,624,481 11.76%
Equity Acquired in Merger $2,000,118 $2,336,759 16.83%
Total Reserves & Undivided Earnings $610,413,213 $680,080,072 11.41%
TOTAL LIABILITIES & CAPITAL $4,815,994,286 $5,950,018,160 23.55%
       
DELINQUENT LOANS      
2-6 Months Delinq. $9,672,105 $9,743,680 0.74%
6-12 Months $2,652,842 $3,808,997 43.58%
Over 12 Months $1,912,132 $2,323,546 21.52%
Total Delinquent Loans $14,237,079 $15,876,223 11.51%
Bankruptcies $1,914,335 $2,449,941 27.98%
Net Chargeoff (Recov) $6,766,748 $6,761,115 -0.08%
 
Loan Portfolio Profile   % of Total
Unsecured Credit Card $229,236,559 5.28%
All Other Unsecured $180,152,419 4.15%
Student Loans $0 0.00%
New Auto $466,020,910 10.74%
Used Auto $790,309,310 18.21%
1st Mortgage $2,197,042,106 50.62%
Other Real Estate $327,315,750 7.54%
Other Loans $150,196,501 3.46%
First Mtg Fixed Rate included in above 1,065,762,036 24.56%
Unused Credit/Tot. Invest+Cash 79.05%  
 
  YTD 2019 YTD 2020 %Chg
INCOME:  
Loans $122,158,390 $133,093,816 8.95%
(Less Rebates) $0 $0
Investments $12,972,951 $4,034,859 -68.90%
Fee Income $14,981,380 $9,588,873 -35.99%
Trading + Other Operating $35,431,937 $43,853,890 23.77%
Total Income $185,544,658 $190,571,438 2.71%
       
EXPENSES:
Employee Compensation & Benefits $46,945,197 $54,590,452 16.29%
Travel & Conference $1,177,746 $365,349 -68.98%
Office Occupancy $5,526,661 $6,232,540 12.77%
Office Operations $6,886,272 $7,473,156 8.52%
Education & Promotional $4,632,152 $3,878,193 -16.28%
Loan Servicing $12,527,398 $13,467,717 7.51%
Professional Services $7,635,971 $8,186,226 7.21%
Member Insurance $0 $0
Operating Fees $308,648 $347,612 12.62%
Miscellaneous $3,936,026 $2,809,437 -28.62%
Operating Expense Subtotal $89,576,071 $97,350,682 8.68%
       
Provision for Loan Losses $9,876,955 $21,455,057 117.22%
Operating Exp. + Provision for Loan Losses $99,453,026 $118,805,739 19.46%
       
Non-Operating Gain (Loss) $31,348 ($42,704) -236.23%
Income before Dividends $86,122,980 $71,722,995 -16.72%
Interest on Borrowed Funds $37 $0 -100.00%
Dividends $16,804,918 $21,782,144 29.62%
Net Income Prior to Assessments $69,318,025 $49,940,851 -27.95%
Net NCUSIF & TCCUSIF Expenses $0 $0
Net Income $69,318,025 $49,940,851 -27.95%
       
SELECTED OPERATING DATA:      
Branches * 19 19 0.00%
Members 272,021 291,684 7.23%
Potential Members 3,503,852 3,554,578 1.45%
Employees 637 651 2.20%
Members/Employee 427 448 4.92%
Average Salary & Benefits/Employee $98,340 $111,894 13.78%
Total YTD Loan Originations $1,175,394,627 $1,617,646,743 37.63%
       
KEY RATIOS:
Operating Exp/Income 48.28% 51.08% 5.81%
Dividends/Income 9.06% 11.43% 26.20%
Net Income/Income 37.36% 26.21% -29.85%
Fee+Other Income/Income 27.17% 28.04% 3.21%
Return on Average Assets 1.99% 1.22% -38.93%
Loans/Assets 80.26% 72.95% -9.12%
Net Worth/Assets 12.72% 11.47% -9.85%
Delinquency 0.37% 0.37% -0.69%
% Invest Over 1 yr 2.11% 1.18% -43.94%
Mortgage-Backed Securities/Total Investments 0.11% 0.06% -51.55%
Yield on Investments 2.37% 0.41% -82.78%
Yield on Loans 4.42% 4.27% -3.33%
Average Cost of Funds 0.56% 0.61% 9.30%
Gross Spread 3.42% 2.86% -16.44%
Average Loan Balance $24,640 $26,156 6.15%
Average Share Balance $15,346 $17,939 16.90%
Assets/Employee $7,566,370 $9,146,838 20.89%
Avail for Sale/Total Investments 0.06% 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
printer