Further deterioration in U.S. Central FCU’s private label residential mortgage backed securities resulted in a $57.7 million OTTI for first quarter 2010, according to the institution’s financial reports, released Friday.

After applying operational net profits, driven by $14.3 million in net interest income and another $6.1 million in fee income, the Kansas City corporate recorded a $45.5 million net loss. That further depletes NCUSIF’s $1 billion capital note to only $350 million as of March 31, U.S. Central’s only remaining form of capital.

 

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