Major Rating Factors:
Operating profits as a percentage of assets at 1.2%, coupled with a return on assets of 1.0 has resulted in Excellent (8.5) profitability. A current level of 9.6 percent of nonperforming loans to core capital combined with 5.0 percent from a year earlier contributes to the Good asset quality (6.8).
Other Rating Factors:
Good current capitalization (6.5 on a scale of 0 to 10) based on a net capital to total assets of 9.0 and a net worth ratio of 0.0. 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 (32%), consumer loans (17%), other (52%)
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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