Performance reports

PHILADELPHIA – NCUA on Friday took over Free Choice FCU and sold the remnants of the failed credit union to Trumark Financial CU.

SACRAMENTO, Calif.-State regulators said the second quarter saw a continued increase in loan delinquencies and loan losses and of troubled institutions among California's CUs.

BOSTON-State regulators are saying new and constantly revised regulations that are compelling many smaller credit unions to merge with larger institutions are out of their hands.

LAS VEGAS-During the African-American Credit Union Council annual conference here, Credit Union Journal asked attendees where they think the economy is headed.

ALEXANDRIA, Va.-Data released by NCUA last week showed that loan growth for the second quarter was less than 0.1%, while shares continued to grow at a strong 1.5% rate, as consumers hoarded savings amid the economic downturn.

MADISON, Wis.-The simple fact is credit unions seeking to reverse stagnant or even declining growth must go back and "work the street," according to a new study.

MADISON, Wis.-Credit union leaders, more than half of whom in an online poll are projecting flat to moderate growth in 2010, have been provided with some ideas on improving those projections.

WASHINGTON – The number of troubled banks surged to 416, the highest since 1993 in the second quarter, while assets held by those banks also soared 36% to $300 billion, the FDIC reported yesterday.

WASHINGTON – The FDIC, saddled with soaring losses on failed banks, approved rules yesterday to make it easier for private-equity firms to buy failed banks.

WASHINGTON – The nation’s thrifts eked out a $4 million profit in the second quarter as the number of troubled institutions continued to grow.

SACRAMENTO, Calif. – State regulators said the second quarter saw a continued increase in loan delinquencies and loan losses and of troubled institutions among California’s credit unions.

ALEXANDRIA, Va. – NCUA reported yesterday that loan growth for the second quarter was less than 0.1% while shares continued to grow at a strong 1.5% rate, as consumers hoarded their savings amid the continuing economic downturn.

MONETT, Mo. – Jack Henry & Associates reported net income rose 12% for its fiscal fourth quarter, to $27.8 million, fueled by a 5% rise in sales for its support and service operations, which includes ATM/debit card processing, bill pay and other transaction processing services.

DENVER – Payments giant First Data Corp. said that high finance expenses related to its 2007 takeover by buyout fund Kohlberg Kravis Roberts continues to weigh on its bottom line, pushing the company to a $195.9 million loss for the second quarter.

NEW YORK – Citigroup has become the first of the major card issuers to start adding annual fees to some existing credit card accounts in an effort to offset the effects of new laws cracking down on certain credit card practices.

SAN DIEGO – Mitek Systems, the provider of image analytics and mobile document capture systems, said revenues fell for its fiscal third quarter, helping create a loss of $240,000, compared to a $40,000 profit for the same period last year.

WASHINGTON – The FDIC shut down $25 billion Colonial BancGroup on Friday, the biggest bank closure so far this, and three other smaller institutions, making a total of 78 bank failures in 2008.

ALEXANDRIA, Va. – NCUA reported Friday it has approved several more mergers of ailing credit unions, those reporting losses or no growth, or both.

LAS VEGAS — Utah-based America First CU expanded its presence in this market last week after NCUA arranged a purchase-and-assumption following the liquidation of $159-million Community One FCU.

LAS VEGAS — In last week's NCUA takeover of Community One FCU there was little doubt the troubled credit union's net worth ratio was far below the critical level set under NCUA's minimum capital rules.