PackageTrendsPeer
Letter portraitLegal landscape

Jack Armstrong

Henderson, NC · Charter 18481

Q2 2008

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2008, the quarter ended June 30, 2008, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: NCUA 5300 Call Report, as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Jack Armstrong

Henderson, NC · Charter 18481

Q2 2008

$1.9MAssets
$1.4MLoans
$1.5MShares
$450KNet Worth

NIM

NIM decomposition not available for credit unions

Non-interest income vs. expense

Non-interest trend not available for credit unions

Executive Summary

  • Earnings: ROA of -3.59%, down 357 bps year over year; NIM at 2.98%.
  • Asset quality: problem loans at 0.01% of loans (-46 bps YoY).
  • Capital: net worth / assets of 23.16%, down 300 bps from a year ago.
  • Funding: loans stand at 95.78% of shares as of Q2 2008.

Financial Results

Return on Assets (YTD, annualized)

-3.59%-357 bps YoY

Net Interest Margin (YTD, annualized)

2.98%-209 bps YoY

Efficiency Ratio (YTD, annualized)

177.23%+7,935 bps YoY

Net Worth / Assets

23.16%-300 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2007Q3 2007Q4 2007Q1 2008Q2 2008YoY ΔTrend
Earnings
Return on Assets-0.02%-0.08%-0.02%-1.27%-3.59%-357 bps
Return on Equity-0.09%-0.32%-0.06%-5.11%-15.50%-1,541 bps
Net Interest Margin5.07%5.07%5.30%5.16%2.98%-209 bps
Efficiency Ratio97.88%99.03%98.53%103.19%177.23%+7,935 bps
Growth
Asset Growth (YoY)-0.39%-0.17%5.20%6.90%4.81%+520 bps
Loan Growth (YoY)-11.80%-10.31%-7.53%-6.76%-3.74%+806 bps
Share Growth (YoY)-0.95%-0.22%7.58%10.08%9.85%+1,080 bps
Asset Quality
Delinquent Loans / Loans0.48%0.46%0.47%0.09%0.01%-46 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.30%0.43%0.13%0.67%0.45%+15 bps
Capital
Risk-Based Capital26.16%25.97%26.42%24.87%23.16%-300 bps
Net Worth / Assets26.16%25.97%26.42%24.87%23.16%-300 bps
Liquidity & Funding
Loans / Shares109.31%105.48%113.44%100.71%95.78%-1,352 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps