U.S. Central's January 2009 unaudited financials, released yesterday, report a $9.2 million net profit and a slight decrease in last month's $6 billion unrealized loss tab.
"We'll take good news where we can get it," said Senior Vice President and Chief Financial Officer Kathy Brick of the $100 million decrease, which shaved accumulated other comprehensive income (AOCI) down to $5.9 billion. Tightening spreads for credit card and student loan backed securities were responsible for gain.
U.S. Central also reported that the NCUA's $1 billion capital infusion improved its capital ratio to 6.362% as of January 31, up from December 31 2008's post-OTTI ratio of 3.756%.
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