Chalk up another profitable quarter for the recovering $644 million Silver State Schools Credit Union, which reported this week it had reported $1.18 million in net income for the first quarter.

One year ago, the Las Vegas credit union reported a $3.5 million net loss during the same period.

Loan delinquencies continued a declining trend, dropping to $17.7 million in the first quarter from $19 million at Dec. 31, 2012 and $37.1 million one year prior.  

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