South Bend Post Office

South Bend, IN · Charter 66255

NCUA · 1 branch

Q3 2021

$11.0MAssets

$2.5MLoans

$9.8MShares

$1.3MNet Worth

Executive Summary

Earnings: ROA of 0.70%, up 16 bps year over year; NIM at 2.20%.
Asset quality: problem loans at 0.22% of loans (-42 bps YoY), with net charge-offs at 4.59%.
Capital: net worth / assets of 11.52%, down 82 bps from a year ago.
Funding: loans stand at 25.27% of shares as of Q3 2021.

Return on Assets (YTD, annualized)

0.70%+16 bps YoY

Net Interest Margin (YTD, annualized)

2.20%-120 bps YoY

Efficiency Ratio (YTD, annualized)

78.14%-496 bps YoY

Net Worth / Assets

11.52%-82 bps YoY

Year to date, annualized, through each quarter.

Metric	Q4 2019	Q1 2020	Q2 2020	Q3 2020	Q4 2020	Q1 2021	Q2 2021	Q3 2021	YoY Δ
Earnings
Return on Assets	0.03%	0.10%	0.51%	0.54%	0.59%	-0.20%	0.38%	0.70%	+16 bps
Return on Equity	0.22%	0.77%	4.18%	4.36%	4.95%	-1.80%	3.33%	6.03%	+167 bps
Net Interest Margin	3.70%	3.69%	3.47%	3.39%	3.18%	2.34%	2.31%	2.20%	-120 bps
Efficiency Ratio	81.72%	84.84%	80.87%	83.10%	84.49%	96.03%	82.03%	78.14%	-496 bps
Growth
Asset Growth (YoY)	2.43%	0.20%	3.82%	7.34%	11.04%	16.78%	10.44%	14.14%	+679 bps
Loan Growth (YoY)	12.25%	6.54%	-5.39%	-10.98%	-17.95%	-19.91%	-17.46%	-16.21%	-524 bps
Share Growth (YoY)	2.78%	0.06%	5.98%	8.30%	11.89%	18.54%	10.84%	15.28%	+698 bps
Asset Quality
Delinquent Loans / Loans	1.37%	0.73%	0.69%	0.64%	0.95%	0.82%	0.00%	0.22%	-42 bps
Net Charge-Offs / Loans	15.69%	13.47%	11.67%	10.63%	8.97%	7.23%	4.21%	4.59%	-604 bps
Allowance / Loans	1.08%	1.10%	1.30%	0.95%	0.93%	1.04%	0.95%	0.98%	+3 bps
Capital
Risk-Based Capital	12.64%	12.39%	12.08%	12.34%	11.97%	11.09%	11.46%	11.52%	-82 bps
Net Worth / Assets	12.64%	12.39%	12.08%	12.34%	11.97%	11.09%	11.46%	11.52%	-82 bps
Liquidity & Funding
Loans / Shares	42.33%	40.21%	35.26%	34.77%	31.04%	27.17%	26.25%	25.27%	-950 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps