The NCUA said Thursday that two credit unions underconservatorship reported improved financials as of Dec. 31,2012.

First, the $1.4 billion Texans Credit Union of Dallas reported acapital gain of 161 basis points during 2012, ending the year with2.68% net worth. The credit union also posted year-end 2012 netincome of $24.17 million.

Loan quality has improved over the past 12 months. As ofyear-end 2011, delinquencies were 8.69% of total loans, and chargeoffs were 4.42% of average loans. Delinquencies improved to 0.94%as of Dec. 31, 2012; however, charge offs remain high, at 4.89% asof Dec. 31, 2012.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Management
Regulatory & Compliance