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Statement of Income & Financial Condition
STATEMENT OF FINANCIAL CONDITION
Assets
June 30, 2019
Cash and cash equivalents
$164991209
Investments:
- Available-for-sale
$32146066
- Held-to-maturity
$197509862
- Other
$497840814
Central Liquidity Fund (CLF) stock
$6923012
Loans receivable, net of allowance for loan losses
$1967696980
Accrued interest receivable
$7173122
Premises and equipment, net
$21323417
National Credit Union Share Insurance Fund deposit
$26356206
Assets acquired in liquidation
$1320806
Other assets
$75372687
ACH receivable
$69205044
Total Assets
$3067859225
Liabilities and Members’ Equity
June 30, 2019
Liabilities
Share and savings accounts
$2848906495
Interest payable
$61997
Accrued expenses and other liabilities
$102105679
- Total liabilities
$2951074171
Members' Equity
Regular reserve
$61580433
Undivided earnings
$55062801
Accumulated other comprehensive income
$141820
- Total members' equity
$116785054
Total Liabilities and Members' Equity
$3067859225
STATEMENT OF INCOME
For the 18-months ended June 30, 2019
Interest Income
Interest on loans receivable
$162700856
Interest on investments
$15508915
- Interest income
$178209771
Interest Expense
Dividends on share and savings accounts
$7459347
- Interest expense
$7459347
Net Interest Income
$170750424
Provision for Loan Losses
$39387563
Net Interest Income After Provision for Loan Losses
$131362861
Non-Interest Income
Service charges
$74608935
Card income
$44515497
Insurance commission income
$13366545
Cash and cash equivalents
$3166427
Other non-interest income
$3166427
Gain on investments, net
$100004
- Non-interest income
$135757408
Non-Interest Expense
Compensation and employee benefits
$218156902
Operations
$71519651
Occupancy
$26661935
Professional and outside services
$12622133
Costs related to fraud investigation
$9464844
Educational and promotion
$7704321
Write-off of deferred fees/costs, net
$6344202
Travel and conference
$5979629
Loan servicing
$5841118
Other gains and losses, net
$2416928
- Non-interest expense
$366711663
Net loss
$99591394