Credit union profits were constrained by higher provisions for loan losses in the third quarter, despite a sharp increase in net interest income.
A Credit Union Times analysis of NCUA data shows the 5,761 federally insured credit unions filing call reports for third quarter earned $2.8 billion in the three months ending Sept. 30, up 10% from 2016's third quarter.
Net interest income rose 10% to $8.6 billion and non-interest income rose 3% to $4.7 billion. Expenses rose 7% to $10.5 billion for the third quarter.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
