Major Rating Factors:
Operating profits as a percentage of assets at 1.2%, coupled with a return on assets of 0.9 has resulted in Excellent (7.9) profitability. Excellent current capitalization (7.2 on a scale of 0 to 10) based on a net capital to total assets of 9.6 and a net worth ratio of 9.6.
Other Rating Factors:
A current level of 15.4 percent of nonperforming loans to core capital contributes to the Good asset quality (6.0). A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to a Fair overall stability index (5.0 on a scale of 0 to 10).
Asset Mix:
Home mtgs (32%), consumer loans (14%), comm loans (7%), other (47%)
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
Largest Competitors
Caledonia, MI
East Lansing, MI
Dearborn, MI
Auburn Hills, MI
Ludington, MI