PackageTrendsPeer
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Educational Community

Everett, WA · Charter 68017

Q1 2008

$42.3MAssets
$28.5MLoans
$37.8MShares
$4.1MNet 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 0.33%, down 21 bps year over year; NIM at 4.15%.
  • Asset quality: problem loans at 0.59% of loans (+7 bps YoY).
  • Capital: net worth / assets of 9.72%, up 74 bps from a year ago.
  • Funding: loans stand at 75.38% of shares as of Q1 2008.

Financial Results

Return on Assets (quarter, annualized)

0.33%-21 bps YoY

Net Interest Margin (quarter, annualized)

4.15%-53 bps YoY

Efficiency Ratio (quarter, annualized)

94.52%+82 bps YoY

Net Worth / Assets

9.72%+74 bps YoY

Discrete quarter, annualized.

MetricQ1 2007Q2 2007Q3 2007Q4 2007Q1 2008YoY ΔTrend
Earnings
Return on Assets0.54%0.23%0.29%0.21%0.33%-21 bps
Return on Equity5.99%2.43%3.03%2.19%3.42%-257 bps
Net Interest Margin4.68%4.71%4.06%4.07%4.15%-53 bps
Efficiency Ratio93.70%96.32%95.38%94.30%94.52%+82 bps
Growth
Asset Growth (YoY)3.45%-2.90%-1.89%-4.59%-7.20%-1,066 bps
Loan Growth (YoY)-7.45%-16.64%-16.93%-12.93%-10.70%-324 bps
Share Growth (YoY)4.34%-2.63%-2.28%-5.55%-8.36%-1,271 bps
Asset Quality
Delinquent Loans / Loans0.52%0.42%0.91%0.52%0.59%+7 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans0.69%0.59%0.53%0.56%0.47%-22 bps
Capital
Risk-Based Capital8.98%9.32%9.52%9.64%9.72%+74 bps
Net Worth / Assets8.98%9.32%9.52%9.64%9.72%+74 bps
Liquidity & Funding
Loans / Shares77.35%77.86%77.39%78.73%75.38%-197 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps