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First General

Muskegon, MI · Charter 61455

NCUA · 2 branches

Q1 2021

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: Q1 2021, the quarter ended March 31, 2021, 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

First General

Muskegon, MI · Charter 61455

NCUA · 2 branches

Q1 2021

$61.3MAssets
$31.8MLoans
$52.1MShares
$8.4MNet Worth

Executive Summary

  • Earnings: ROA of -0.26%, down 44 bps year over year; NIM at 2.79%.
  • Asset quality: problem loans at 0.35% of loans (-56 bps YoY).
  • Capital: net worth / assets of 13.70%, down 112 bps from a year ago.
  • Funding: loans stand at 60.95% of shares as of Q1 2021.

Return on Assets (YTD, annualized)

-0.26%-44 bps YoY

Net Interest Margin (YTD, annualized)

2.79%-8 bps YoY

Efficiency Ratio (YTD, annualized)

110.11%+1,606 bps YoY

Net Worth / Assets

13.70%-112 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021YoY ΔTrend
Earnings
Return on Assets-1.25%-1.02%-0.82%0.18%0.12%0.08%0.27%-0.26%-44 bps
Return on Equity-8.32%-6.65%-5.44%1.19%0.85%0.55%1.88%-1.90%-309 bps
Net Interest Margin2.67%2.79%2.80%2.87%2.68%2.70%2.74%2.79%-8 bps
Efficiency Ratio125.34%120.81%115.04%94.04%93.14%95.77%91.71%110.11%+1,606 bps
Growth
Asset Growth (YoY)-3.84%-1.49%-2.42%-1.73%7.11%10.25%9.20%9.41%+1,114 bps
Loan Growth (YoY)-0.74%3.61%7.53%13.82%12.81%11.12%4.65%-1.91%-1,573 bps
Share Growth (YoY)-3.22%-0.76%-1.94%-1.19%8.64%11.92%10.39%10.66%+1,185 bps
Asset Quality
Delinquent Loans / Loans0.86%0.94%0.90%0.91%0.86%0.45%0.48%0.35%-56 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/an/an/an/a
Allowance / Loans0.39%0.30%0.34%0.36%0.41%0.40%0.37%0.33%-2 bps
Capital
Risk-Based Capital15.00%15.30%15.15%14.82%13.89%13.88%14.14%13.70%-112 bps
Net Worth / Assets15.00%15.30%15.15%14.82%13.89%13.88%14.14%13.70%-112 bps
Liquidity & Funding
Loans / Shares63.12%66.81%68.38%68.76%65.54%66.34%64.82%60.95%-781 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps