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FI Health Ratings As Of End Of 2023

Kaight
  |     |   1,192 posts since 2011

Some of the subject health ratings have begun to become available:

Weiss Ratings now offers new FI health evaluations using end of 2023 data.

Go to https://weissratings.com/en/bankin then click "banking".

Bauer now offers new FI health evaluations for banks (only) using end of 2023 data. Bauer health ratings for credit unions continue to be based on Q3 2023 data as of this writing.

https://www.bauerfinancial.com/star-ratings/

Ken is not offering updated FI health ratings as of this writing.

It is early. The three services should be up with all of their new FI health ratings, as of end of 2023, within the next couple of weeks.

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Kaight
  |     |   1,192 posts since 2011
Update

Ken has now posted his FI health ratings using Q4 2023, end of 2023, data, the latest available.  Thank you, Ken.

Bauer, as of this update, still has not posted FI health ratings for credit unions based on end of 2023 data; only for banks.

ETA

Note:  At this hour Ken's updated rating for NFCU most likely is flawed.  This is only MHO.  I have no other explanation.
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sams1985
  |     |   781 posts since 2022
Thanks for the update-If anyone is wondering Advancial has a C on Weiss, 4/5 stars on Bauer and Ken gives them a B+. Still a gap between loans and deposits.

All in CU fell from an A- to a C+ on Weiss but remains 5/5 stars on Bauer. Ken also gives them a B+.
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Kaight
  |     |   1,192 posts since 2011
As I wrote above, for credit unions Bauer is using old (Q3) data, while both Ken and Weiss are using Q4 data. Apples and oranges.
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sams1985
  |     |   781 posts since 2022
oh sorry missed that, will wait for the new Bauer data and then compare.
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111
  |     |   672 posts since 2019
Kaight - Just curious - for Navy FCU which one (or ones) of the 4 "Health Grade Components" Ken lists do you think is flawed? I for one was surprised to see an A+ for "Deposit Growth" since I find it hard to believe that many people have made or added to deposits given Navy's sub-par rates relative to prior rate cycles.
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Kaight
  |     |   1,192 posts since 2011
I dunno. I don't have the smarts to be able to delve into the detail. My earlier comment pertained solely to the fact Ken is showing a "C" rating overall for NFCU. I doubt that will stand after they have opportunity to review it.

NFCU has been down a bit at Weiss, but certainly nothing close to a "C". This unless NFCU has massive exposure to commercial real estate, which I seriously doubt.
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Ally6770
  |     |   4,308 posts since 2010
Click on the C. They have an F in capitalization and an F in Texas Ratio.
Click on them for an explanation.

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. Navy Federal Credit Union has $170.8 billion in assets with $4.81 billion in equity, resulting in a capitalization level of 2.82%, which is poor.

The Texas Ratio for Navy Federal Credit Union increased slightly from 5.50% as of December 31, 2022 to 42.39% as of December 31, 2023, resulting in a negative change of 670.26%. This indicates that the balance sheet and financial strength for Navy Federal Credit Union has declined slightly in recent periods.
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Ally6770
  |     |   4,308 posts since 2010
Weiss has Navy's liquidity at 2.30
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Kaight
  |     |   1,192 posts since 2011
Yes, but Marty's overall NFCU evaluation based on latest data available is still "B+". From Marty, that is a very high rating.
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Kaight
  |     |   1,192 posts since 2011
Guys here's the thing on NFCU, which as you all know is the largest CU in the USA:

I will be shocked if Ken's "C" rating is not some sort of fluke, a dataset or analytical error, or whatever. Marty over at Weiss Ratings (Dr. Martin Weiss is the leader there) still gives NFCU a "B+" rating based on Q4 2023 data. And trust me, Marty is a VERY tough grader.  He has NFCU's capitalization at 6.1 for example, which is good.  Ken has it at "F".

We all will know more regarding NFCU when Bauer finally chimes in with their CU ratings based on Q4 2023 data. But so far from Bauer: nothing.

Stay tuned.
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Kaight
  |     |   1,192 posts since 2011
Update

I expect this to be the final update to this thread pertaining to FI ratings in the wake of release of Q4 2023 data. The next ratings update will not be along until (roughly) the middle of June. Here is the latest:

Bauer has finally updated their credit union ratings based on data from end of 2023, the latest available. See the OP for a link. All three FI health rating services have now completed their work using the latest quarterly data available.

It probably comes as a surprise to no one that Bauer's now current NFCU rating stands unchanged at five stars.
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