A PenFed Credit Union branch.
Credit/PenFed
Pentagon Federal Credit Union's fourth-quarter loss widened by $32.8 million after it filed a revised call report April 12 with the NCUA, but the nation's third-largest credit union said Tuesday it made a small net gain in the first quarter.
The revised fourth-quarter report showed PenFed lost $98.1 million in the three months ending Dec. 31, or an annualized -1.12% of its average assets. The increased loss came from a $26.9 million increase in loan-loss provision expenses, a $4.3 million drop in net interest income and a $1.5 million drop in non-interest income.
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