Ohio Mutuals Balance Sheet Growth Rates Comparable to Overall Growth Rates Nationally

For the first nine months of 2019, mutual institutions nationally (468 mutuals) and those headquartered in Ohio (38 mutuals—excluding two multi-billion-asset institutions) grew their balance sheets by 3.4 percent compared with 1.3 percent for the 139 mutuals headquartered in the Midwest.  Loan balances among mutuals nationwide grew by 2.9 percent through the first three quarters of 2019 compared with 2.1 percent for Midwest-based mutuals.  Ohio mutuals experienced higher loan growth rates at 3.7 percent through September 30, 2019 compared with their mutual counterparts nationally and in the Midwest.

Mutuals overall nationally maintained lower expense ratios compared with their Midwest- and Ohio-based peers.  Noninterest expenses to average assets totaled 2.75 percent for mutuals nationwide compared with 2.89 percent for mutuals headquartered in the Midwest and 3.03 percent for Ohio mutuals.

Net income over the nine-month period, as measured by return on average assets, was 0.57 percent for mutuals nationally compared with 0.46 percent for mutuals in the Midwest and 0.43 percent for mutuals based in Ohio.

For a customized report comparing your bank’s performance data with regional and/or national trends, contact Paul Simoff, senior consultant, at psimoff@probank.com.