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Swindell-Dressler

Pittsburgh, PA · Charter 61035

NCUA · 3 branches

Q2 2024

$2.8MAssets
$761KLoans
$2.3MShares
$424KNet 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 -4.89%, down 304 bps year over year; NIM at 1.71%.
  • Asset quality: problem loans at 6.85% of loans (+685 bps YoY).
  • Capital: net worth / assets of 15.42%, up 18 bps from a year ago.
  • Funding: loans stand at 33.28% of shares as of Q2 2024.

Financial Results

Return on Assets (quarter, annualized)

-4.89%-304 bps YoY

Net Interest Margin (quarter, annualized)

1.71%-39 bps YoY

Efficiency Ratio (quarter, annualized)

326%+14,427 bps YoY

Net Worth / Assets

15.42%+18 bps YoY

Discrete quarter, annualized.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets-1.85%-2.24%-2.44%-3.78%-4.89%-304 bps
Return on Equity-12.13%-14.12%-15.71%-25.25%-31.72%-1,959 bps
Net Interest Margin2.10%2.19%2.16%1.55%1.71%-39 bps
Efficiency Ratio181.78%194.43%235%261%326%+14,427 bps
Growth
Asset Growth (YoY)-11.56%-16.16%-18.90%-15.21%-23.12%-1,156 bps
Loan Growth (YoY)-0.91%2.84%-9.30%-7.73%-13.11%-1,220 bps
Share Growth (YoY)-10.99%-16.04%-20.99%-16.92%-25.35%-1,436 bps
Asset Quality
Delinquent Loans / Loans0.00%1.02%0.41%1.70%6.85%+685 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Capital
Risk-Based Capital15.24%15.87%15.55%14.97%15.42%+18 bps
Net Worth / Assets15.24%15.87%15.55%14.97%15.42%+18 bps
Liquidity & Funding
Loans / Shares28.59%29.74%31.58%30.18%33.28%+469 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps