Major Rating Factors:
Operating profits as a percentage of assets at 1.3%, coupled with a return on assets of 1.1 has resulted in Excellent (8.9) profitability. Good current capitalization (6.7 on a scale of 0 to 10) based on a net capital to total assets of 9.2 and a net worth ratio of 9.2.
Other Rating Factors:
A current level of 11.6 percent of nonperforming loans to core capital contributes to the Good asset quality (6.5). A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to a Good overall stability index (5.7 on a scale of 0 to 10).
Asset Mix:
Home mtgs (30%), consumer loans (15%), comm loans (7%), other (48%)
Asset Quality
Non-Performing Loans to Capital
Non-Performing Assets to Assets
Non-Performing Loans to Loans
Loan Loss Reserves to Loans
Charge-Offs to Average Loans
5-Year Charge-Offs to Average Loans
5-Year Asset Growth
1-Year Asset Growth
Profitability
Operating Profit to Average Assets
Return on Equity
Net Interest Spread
5-Year ROAA (Return on Average Assets)
Overhead Efficiency Ratio
Corporate Info
Address
5511 West US Highway 10
Ludington, MI 49431
Ludington, MI 49431
Phone Number
(231) 843-2323
NCUA Charter Number
Website
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