PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Florida Rural Electric

Tallahassee, FL · Charter 67561

NCUA · 1 branch

Q2 2024

$28.1MAssets
$21.0MLoans
$22.0MShares
$6.1MNet 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 0.73%, up 12 bps year over year; NIM at 4.52%.
  • Asset quality: problem loans at 0.00% of loans (-12 bps YoY).
  • Capital: net worth / assets of 21.87%, up 96 bps from a year ago.
  • Funding: loans stand at 95.47% of shares as of Q2 2024.

Financial Results

Return on Assets (quarter, annualized)

0.73%+12 bps YoY

Net Interest Margin (quarter, annualized)

4.52%+53 bps YoY

Efficiency Ratio (quarter, annualized)

75.59%-1,073 bps YoY

Net Worth / Assets

21.87%+96 bps YoY

Discrete quarter, annualized.

MetricQ2 2023Q3 2023Q4 2023Q1 2024Q2 2024YoY ΔTrend
Earnings
Return on Assets0.62%0.63%0.66%0.46%0.73%+12 bps
Return on Equity2.96%2.98%3.02%2.14%3.35%+40 bps
Net Interest Margin3.99%4.09%4.24%4.40%4.52%+53 bps
Efficiency Ratio86.31%85.41%82.81%79.07%75.59%-1,073 bps
Growth
Asset Growth (YoY)-1.02%-2.59%-1.05%-2.78%-1.23%-21 bps
Loan Growth (YoY)11.05%6.54%2.97%-4.44%-5.29%-1,635 bps
Share Growth (YoY)-1.48%-3.89%-2.29%-4.08%-2.69%-122 bps
Asset Quality
Delinquent Loans / Loans0.12%0.37%0.29%0.62%0.00%-12 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 Capital20.91%21.22%21.74%21.34%21.87%+96 bps
Net Worth / Assets20.91%21.22%21.74%21.34%21.87%+96 bps
Liquidity & Funding
Loans / Shares98.09%97.49%99.25%94.17%95.47%-262 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps