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Summit Hampton Roads Credit Union

Summit Hampton Roads Credit Union
Overview / Commentary
P.O. Box 9609
Norfolk, VA 23505

Summit Hampton Roads Credit Union is headquartered in Norfolk and is the 94th largest credit union in the state of Virginia. It is also the 3,993rd largest credit union in the nation. It was established in 1970 and as of December of 2013, it had grown to 8 employees and 2,275 members. Summit Hampton Roads Credit Union has a B health rating.

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Health

Data for Q4 2013

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Summit Hampton Roads Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Summit Hampton Roads Credit Union had $131,000 in non-current loans and owned real-estate with $2.23 million in equity and loan loss allowances on hand to cover it. This gives Summit Hampton Roads Credit Union a Texas Ratio of 5.86% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Summit Hampton Roads Credit Union experienced no significant changes from 6.01% as of December 31, 2012 to 5.86% as of December 31, 2013, resulting in a positive change of 2.49%.This indicates that the balance sheet and financial strength for Summit Hampton Roads Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Summit Hampton Roads Credit Union has decreased its total deposits by $-588,000, resulting in -4.74% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Summit Hampton Roads Credit Union has shown is below average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Summit Hampton Roads Credit Union has $14.1 million in assets with $2.23 million in equity, resulting in a capitalization level of 15.84%, which is excellent.

Institution Statistics

Overall
NCUA #19973
Year Chartered1970
Employees8
Primary Regulator
Assets and Liabilities
Assets$14.10 million
Loans$6.62 million
Deposits$11.81 million
Equity Capital$2.19 million
Loan Loss Allowance$42,000
Unbacked Noncurrent Loans$131,000
Real Estate Owned$0
Historic Data - December 2012
Assets$14.67 million
Equity Capital$2.19 million
Loan Loss Allowance$8,000
Unbacked Noncurrent Loans$131,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.33%
Return on Assets-0.04%
Return on Equity-0.27%
Interest Income$478,000
Rates

Sorry, we do not have rate data for Summit Hampton Roads Credit Union

Locations


Summit Hampton Roads Credit Union Locations
Branch Office150 Kingsley LnNorfolk, VA 23505-4602
Branch Office3636 High StPortsmouth, VA 23707-3236