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Loans Up 4.4% for Calif. State-chartered CUs
SACRAMENTO, Calif. (12/31/14)--Loans at California state-chartered credit unions increased 4.4% in 2013 to $41.8 billion from $40 billion in 2012, according to the California Department of Business Oversight Quarterly Report. Loans were up $1.1 billion in the third quarter, 2.8% from the previous quarter.  
 
Total assets of California state-chartered credit unions were $79.3 billion as of Sept. 30, up $2.9 billion or 3.7% from $76.4 billion a year earlier, and up a fraction of a percent in the second quarter. Shares increased 3.6% to $68.2 billion from $65.8 billion one year ago and were up a fraction of a percent from the prior quarter.
 
Net worth was up 10.3% to $8.6 billion from $7.8 billion the previous year and up 2.1% from the $8.4 billion reported in the second quarter. The net worth to asset ratio improved to 10.81% from 10.17% one year ago and from 10.63% in the previous quarter. The allowance for loan losses decreased 27.8% to $695.7 million from $963 million one year ago and was down 8% from $756 million in the second quarter.
 
Delinquent loans fell $113.6 million or 21.5% to $415.6 million from $529.2 million in 2012. They also were down $63.1 million or 13.2% from $478.7 million in the second quarter. Delinquent loans as a percentage of total loans were 1% as of Sept. 30, compared with 1.32% a year earlier and 1.18% in the last quarter. Other real estate owned totaled $57.2 million at the end of the third quarter, a decrease of $59.5 million or 51% from $116.7 million a year previous and a drop of $6.1 million or 9.7% from $63.4 million reported in the last quarter.
 
The number of state-chartered credit unions in California at the close of the third quarter stood at 146, compared with 153 at the same time last year.


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