2016 Financials at a Glance

2016 Financials at a Glance

Here’s a snapshot of our financial performance in 2016. Take a look at these graphs as well as the chart below and if you have any questions, don’t hesitate to contact us.

Assets
ASSETS20162015
Cash & Cash Equivalents $39,595,342 $34,960,529
Investments $426,477,112 $422,308,782
Loans to Members, net allowance for loan losses $1,950,012,166 $1,818,807,739
Accrued Interest Receivable $6,995,902 $6,582,227
Property & Equipment $82,116,466 $81,279,760
Federal Share Insurance Fund Deposit $20,552,236 $18,742,298
Prepaid and Other Assets $17,415,140 $16,433,958
TOTAL ASSETS $2,543,164,364 $2,399,115,293
Liabilities & Members' Equity
LIABILITIES20162015
Members's Shares $2,224,360,178 $2,005,701,886
Borrowed Funds $0 $100,000,000
Accrued Expenses & Other Liabilities $49,077,435 $43,626,440
Total Liabilities $2,273,437,613 $2,149,328,326
EQUITY
Member's Equity & Reserves $269,726,751 $249,786,967
TOTAL LIABILITIES & MEMBER'S EQUITY $2,543,164,364 $2,399,115,293
Statement of Income
INTEREST INCOME20162015
Interest on Loans to Members $99,773,648 $95,059,530
Interest on Investments & Cash Equivalents $5,081,691 $3,386,554
INTEREST EXPENSE
Members' Share Accounts & Borrowed Funds $6,435,985 $5,843,976
Net Interest Income $98,419,354 $92,602,108
Provision for Loan Losses ($25,757,466) ($26,491,426)
Net Interest Income After Provision for Loan Losses $72,661,888 $66,110,682
NON-INTEREST INCOME
Fees & Other Income $50,020,249 $49,589,481
NON-INTEREST EXPENSES
Compensation & Employee Benefits $51,794,392 $47,225,700
Office Operations $44,906,563 $43,317,587
Occupancy $4,421,140 $4,094,687
$101,122,095 $94,637,974
NET INCOME $21,560,042 $21,062,189