Commercial delinquencies at Rivermark Community Credit Union of Oregon City surpassed 10% in December, returning it to a loan quality territory it last inhabited before a major merger in late 2024.
Rivermark ($3.15 billion in assets, 174,887 members) was one of seven credit unions that accounted for 22% of 60-day-plus commercial delinquencies in the fourth quarter.
Rivermark held $303.7 million in commercial loans on Dec. 31, accounting for 14% of total loans. The delinquency rate was 10.2% for commercial loans, compared with 1.19% for other loans, according to NCUA data pulled from Callahan's Peer Suite.
Rivermark Community earned $5.3 million (ROA 0.66%) in the fourth quarter, up from its $3.7 million loss in 2024's fourth quarter. For the year, Rivermark Community lost $1.6 million (-0.20%), following a loss of $7.2 million (-1.21%) in 2024 and a gain of $12.2 million (0.36%) in 2023.
Rivermark had a $16 million commercial portfolio in September 2024 with a 13% delinquency rate.
Rivermark acquired Advantis Credit Union of Oregon City in the fourth quarter of 2024, which had $1.9 billion in assets and 87,669 members as of Sept. 30, 2024.
Advantis had $163.5 million in commercial loans, accounting for 12% of total loans. No 60-day delinquencies had been reported in the commercial portfolio, which was all backed by real estate.
Rivermark's commercial delinquency rate fell to about 8% over the next four quarters before it rose above 10% in December.
It charged off $103,826 in commercial loans in 2023's fourth quarter (a 0.35% net charge-off rate for the quarter). Since then, charge-offs have been negligible. They were a mere $53,788 in 2025.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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