ALEXANDRIA, Va. - (08/23/04) -- The flood of new shares thatinundated credit unions to the tune of more than $150 billion overthe past three years appears to have dammed up in the secondquarter, according to NCUA. Share growth was almost flat from Aprilthrough June, at less than 1%, half of what it was during lastyear's second quarter, and the slowest second quarter in fiveyears. But loan growth rose sharply to 3.8% for the second quarter,compared to 2.7% for the same period last year, and just 1.1% inthis year's first quarter. Mortgage lending continued to pave theway, with first mortgage real estate loans growing 4.7% during thesecond quarter. New auto loans expanded by 4% during the quarter;and used car loans by 2%. Asset quality remained strong, with theaverage delinquency ratio declining from 0.68% to 0.67% during thequarter; and the charge-off ratio dipping to 0.53%.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
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Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
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The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
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