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First United

Grandville, MI · Charter 68640

NCUA · 1 branch

Q2 2023

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: Q2 2023, the quarter ended June 30, 2023, 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 United

Grandville, MI · Charter 68640

NCUA · 1 branch

Q2 2023

$66.9MAssets
$57.5MLoans
$56.1MShares
$7.4MNet 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 1.47%, down 2 bps year over year; NIM at 3.67%.
  • Asset quality: problem loans at 1.43% of loans (+38 bps YoY).
  • Capital: net worth / assets of 11.09%, up 71 bps from a year ago.
  • Funding: loans stand at 102.55% of shares as of Q2 2023.

Financial Results

Return on Assets (YTD, annualized)

1.47%-2 bps YoY

Net Interest Margin (YTD, annualized)

3.67%+23 bps YoY

Efficiency Ratio (YTD, annualized)

68.68%-433 bps YoY

Net Worth / Assets

11.09%+71 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2022Q3 2022Q4 2022Q1 2023Q2 2023YoY ΔTrend
Earnings
Return on Assets1.49%1.63%1.49%1.29%1.47%-2 bps
Return on Equity14.38%14.80%13.88%12.08%13.25%-112 bps
Net Interest Margin3.44%3.67%3.51%3.62%3.67%+23 bps
Efficiency Ratio73.01%71.64%72.57%69.16%68.68%-433 bps
Growth
Asset Growth (YoY)21.37%12.53%14.76%13.47%8.05%-1,332 bps
Loan Growth (YoY)24.70%17.83%12.68%10.08%18.10%-660 bps
Share Growth (YoY)24.91%10.60%14.76%14.09%6.79%-1,813 bps
Asset Quality
Delinquent Loans / Loans1.05%0.86%2.01%1.16%1.43%+38 bps
Net Charge-Offs / Loansn/an/an/an/an/an/an/a
Allowance / Loans1.15%1.01%0.85%0.00%0.00%-115 bps
Capital
Risk-Based Capital10.38%11.00%10.74%10.66%11.09%+71 bps
Net Worth / Assets10.38%11.00%10.74%10.66%11.09%+71 bps
Liquidity & Funding
Loans / Shares92.72%96.44%90.38%92.68%102.55%+983 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps