SSSCU reports 13th straight quarter of positive earnings
Silver State Schools Credit Union's (SSSCU) on Friday reported net income of $4.96 million in the second quarter of 2015 and year-to-date net income of $7.84 million compared with $5.01 million and year-to-date earnings of $7.51 million in 2014.
It was the 13th straight quarter of positive earnings.Delinquent loans have continued to decline, from $4.9 million at March 31 to $4.4 million at June 30.
In a statement, CEO Andy Hunter said, "We are very pleased with our second quarter performance. ... Our performance continues to be helped by the ongoing improvement in Clark County's economic environment. Our regulatory net worth is now 6.80 percent of total assets and we anticipate that SSSCU will continue to report steady progress in the second half of the year."
At June 30, SSSCU reported deposits of $617 million, total assets of $667 million, and loans of $420 million.|Liquidity was at $147 million with regulatory net worth of $45.4 million.
