PackageTrendsPeer
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Progressive

New York, NY · Charter 60064

NCUA · 1 branch

Q4 2018

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: Q4 2018, the quarter ended December 31, 2018, 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

Progressive

New York, NY · Charter 60064

NCUA · 1 branch

Q4 2018

$325.6MAssets
$376.6MLoans
$242.1MShares
$-5175KNet 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 -31.63%, down 1,477 bps year over year; NIM at 2.57%.
  • Asset quality: problem loans at 26.70% of loans (+769 bps YoY).
  • Capital: net worth / assets of -1.59%, down 2,486 bps from a year ago.
  • Funding: loans stand at 155.58% of shares as of Q4 2018.

Financial Results

Return on Assets (YTD, annualized)

-31.63%-1,477 bps YoY

Net Interest Margin (YTD, annualized)

2.57%+7 bps YoY

Efficiency Ratio (YTD, annualized)

182.04%+3,000 bps YoY

Net Worth / Assets

-1.59%-2,486 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2017Q1 2018Q2 2018Q3 2018Q4 2018YoY ΔTrend
Earnings
Return on Assets-16.86%3.09%-8.48%-18.55%-31.63%-1,477 bps
Return on Equity-72.47%13.84%-44.65%-159.45%n/an/a
Net Interest Margin2.50%2.04%2.15%2.11%2.57%+7 bps
Efficiency Ratio152.04%42.27%84.07%139.13%182.04%+3,000 bps
Growth
Asset Growth (YoY)-18.60%-14.04%-17.15%-23.66%-32.99%-1,440 bps
Loan Growth (YoY)-23.39%-14.14%-16.65%-15.64%-15.31%+809 bps
Share Growth (YoY)-4.51%-3.89%-2.78%-8.30%-16.30%-1,179 bps
Asset Quality
Delinquent Loans / Loans19.01%19.55%21.18%24.75%26.70%+769 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans18.62%21.28%21.37%27.42%36.81%+1,819 bps
Capital
Risk-Based Capital23.27%22.30%19.00%11.64%-1.59%-2,486 bps
Net Worth / Assets23.27%22.30%19.00%11.64%-1.59%-2,486 bps
Liquidity & Funding
Loans / Shares153.76%154.53%150.07%152.33%155.58%+182 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps