Mutual peer data for 2021 reflected “more of the same” especially in terms of loan growth, expense management and net income. Loan growth for all of 2021 grew at a paltry rate of one percent for mutuals nationwide, 1.3 percent for mutuals based in the Midwest and 2.3 percent for Ohio-based mutuals. From an expense…
read article →Mutuals throughout Ohio, the Midwest and nationally appear to be in a stuck in a financial institution Groundhog Day time warp. Limited loan growth, excess liquidity and historically low net interest margins are recurring trends evident in third quarter financial results for mutuals across the asset size spectrum. Total loans through the first nine month…
read article →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,…
read article →If first quarter data are predictive of future performance, 2021 will be among the most challenging years in recent memory for mutual management teams and directors. Balance sheet management strategies are confronted by the combined headwinds of historically low interest rates, double-digit deposit growth (fueled by government stimulus payments) and declining loan balances (with prepayments…
read article →Mutuals throughout Ohio, the Midwest and U.S. experienced dramatic shifts in balance sheet composition and earnings for 2020 (see results for 12-month period ending December 31, 2020). For all of 2020, total assets grew by approximately nine percent for Ohio mutuals compared with 9.4 percent for mutuals in the Midwest and 10.4 percent for mutuals…
read article →Most balance sheet and income trends held steady through the third quarter of 2020 compared with prior quarter results and trends. Balance sheets continued to be bolstered by double digit deposit growth rates while mutuals, especially those based in Ohio, experienced revenue increases from gain on loan sales. Among the findings for the third quarter…
read article →Impact of Corona Virus Economy Emerges in 2Q Mutual Data As noted in last quarter’s mutual peer data report, the impact of the economic shutdown was unlikely to be revealed until at least the second or third quarter financial reports of mutuals throughout the nation, as well as in Ohio and the Midwest. Balance sheets…
read article →Net Incomes Decline for Mutuals Nationally During First Quarter 2020 First quarter 2020 mutual financial performance data presents a new chapter in the evaluation of peer metrics for mutual institutions throughout the U.S. The closing down of entire sectors of the nation’s economy beginning in February, unprecedented spikes in unemployment, an influx of PPP loans…
read article →Mutual Institutions in the >$500 million asset class nationally and in the Midwest most profitable in 2019—ROAA’s decline from YE 2018 levels Mutual institutions in the >$500 million asset class nationally – comprised of 147 organizations – earned a median return on average assets of 0.72 percent in 2019, a slight decline from 0.74 percent…
read article →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…
read article →Mutual Bank Performance Holds Steady Throughout the First Half ‘19 Mutual banks nationally experienced little change in key financial performance metrics for the first half of 2019 compared with first quarter results. Mutual bank balance sheets nationally grew by 3.6 percent during the first half of 2019 compared with four percent during the first quarter…
read article →Balance sheet growth rates for Ohio mutuals declined precipitously in the first quarter of 2019 compared with first quarter 2018 results. Through the first quarter of 2019, total assets increased by 1.5 percent compared with 4.3 percent for the same period of 2018. Total loans increased by 1.2 percent in Q1 ’19 compared with 5.2…
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