The NCUA liquidated the New York City-based OTB Federal Credit Union on Wednesday, the agency announced.
The $1.8 million credit union had a 7.1% decline in assets during the final quarter of 2010 and seen declines during three of the last four quarters, according to its financial performance report filed with the NCUA. Both its loan and investment income declined during three of the past four quarters.
Its net worth ratio was 4.7% during the final quarter of 2010, and was 8.77% during the third quarter.
Its delinquent loan ratio was 7.02% at the end of the fourth quarter of last year and 5.96% at the end of the third quarter.
It had a negative return on average assets during each of the previous four quarters.
OTB FCU is the third federally insured credit union liquidated this year.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the top of any article.
NCUA Liquidates OTB FCU
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
Comments
Resource Center
View All »
Measure and Monitor the Risks and Opportunities in Loan Portfolios
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
