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|Team Mitchell left to right: Myriam Valdez, Legislative Aide, Senator Holly Mitchell (D-Los Angeles), Tim Shelley, Rules Committee Consultant, John Skoglund, Legislative Aide, and Rodney Wilson, Senior Legislative Advocate, California and Nevada Credit Union Leagues.|
Total assets of California state-chartered credit unions were $79.3 billion as of Sept. 30, up $2.9 billion or 3.7 percent from $76.4 billion a year earlier, and up a fraction of a percent in the second quarter. Shares increased 3.6 percent to $68.2 billion from $65.8 billion one year ago and were up a fraction of a percent from the prior quarter.
Net worth was up 10.3 percent to $8.6 billion from $7.8 billion the previous year and up 2.1 percent from the $8.4 billion reported in the second quarter. The net worth to asset ratio improved to 10.8 percent from 10.17 percent one year ago and from 10.63 percent in the previous quarter. The allowance for loan losses decreased 27.8 percent to $695.7 million from $963 million one year ago and was down 8 percent from $756 million in the second quarter.
Delinquent loans fell $113.6 million or 21.5 percent to $415.6 million from $529.2 million in 2012. They also were down $63.1 million or 13.2 percent from $478.7 million in the second quarter. Delinquent loans as a percentage of total loans were 1 percent as of Sept. 30, compared with 1.32 percent a year earlier and 1.18 percent in the last quarter.
Other real estate owned totaled $57.2 million at the end of the third quarter, a decrease of $59.5 million or 51 percent from $116.7 million a year previous and a drop of $6.1 million or 9.7 percent from $63.4 million reported in the last quarter.
The number of state-chartered credit unions in California at the close of the third quarter stood at 146, compared with 153 at the same time last year.