There was little change in mutual performance data in a comparison of second quarter 2021 with first quarter 2021 results.  Mutual executives throughout the nation all cite the lack of loan growth, too much cash and net interest margins that continue in their narrow range.

Net interest income, whether among Ohio mutuals or mutuals nationwide, falls within a range of 2.59 percent of average assets (Ohio) compared with 2.72 percent for mutuals nationwide.  Loan growth during the second quarter (annualized) was flat across the board for mutuals in Ohio 0.50 percent, 0.10 percent for Midwest-based mutuals and 1.0 percent for mutuals nationally.  Over the same timeframe, deposit growth through the second quarter increased at an annualized rate of more than 10 percent for mutuals in Ohio and the Midwest while exceeding 12 percent for all mutuals nationwide.

Net income, measured by return on average assets (ROAA), was unchanged through the second quarter.  Mutuals in Ohio attained an ROAA of 0.35 percent (unchanged from first quarter results), 0.42 percent for mutuals in the Midwest (compared with 0.40 percent for the first quarter of 2021) and 0.54 percent for all mutuals nationally (compared with 0.55 for the first quarter of 2021).

For a more comprehensive view of second quarter 2021 data, see the attached links for detailed balance sheet, income, expense and other performance metrics.  If you would like a customized report for your mutual institution comparing your results with regional and national peers, contact:  Paul Simoff at psimoff@probank.com.

 

MUTUAL RANKING - JUNE 30, 2021