# UNION FEDERAL SAVINGS BANK
NORTH PROVIDENCE, RI · FDIC certificate 57189 · asset band <$300M · latest filing 2015-03 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 7 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $132.0M | |
| Deposits | $108.4M | |
| Loans and leases | $17.1M | |
| Total equity | $22.5M | |
| Loans / deposits | 15.74% (p3 of band) | 70.43% |
| Liquid assets / assets | 86.72% (p99 of band) | |
| Uninsured deposits / deposits | 6.20% (p17 of band) | 13.33% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p19 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 16.31% (p91 of band) | 10.49% |
| Unrealized securities loss / equity | 0.00% (p16 of band) | 1.32% |
| AOCI / equity | 0.00% (p15 of band) | |
| ROA (annualized) | -2.21% (p1 of band) | 0.80% |
| Net interest margin | 0.21% (p1 of band) | 3.57% |
| Efficiency ratio | 0.00% (p0 of band) | |
| Noncurrent loans | 4.69% (p95 of band) | 0.77% |
| Net charge-offs (annualized) | 0.00% (p45 of band) | |
| Reserve coverage of noncurrent | 0.00% | |
| Real estate % of loans | 90% | |
| Construction % of loans | 0.00% (p7 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -35.3% | |
| Employees | 11 | |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **NIM <2.5%** (`earn_nim`)
- **noncurrent p90** (`aq_noncurrent`)
- **reserve under noncurrent** (`aq_reserve`)
- **deposits shrinking** (`shrink_deposits`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 6 | securities losses >30% of equity, losing money, expense ratio p90, NIM <2.5%, noncurrent p90, reserve under noncurrent |  |
| 2011-06 | 3 |  | securities losses >30% of equity, noncurrent p90, reserve under noncurrent |
| 2011-09 | 4 | capital falling |  |
| 2011-12 | 5 | reserve under noncurrent |  |
| 2012-03 | 2 |  | losing money, expense ratio p90, capital falling |
| 2012-06 | 2 |  |  |
| 2012-09 | 2 |  |  |
| 2012-12 | 2 |  |  |
| 2013-03 | 3 | capital falling |  |
| 2013-06 | 1 |  | reserve under noncurrent, capital falling |
| 2013-09 | 1 |  |  |
| 2013-12 | 2 | reserve under noncurrent |  |
| 2014-03 | 4 | deposits shrinking, assets shrinking, uninsured deposits leaving | NIM <2.5% |
| 2014-06 | 3 | NIM <2.5%, charge-offs p90 | deposits shrinking, assets shrinking, uninsured deposits leaving |
| 2014-09 | 7 | losing money, expense ratio p90, deposits shrinking, assets shrinking |  |
| 2014-12 | 8 | noncurrent p90, uninsured deposits leaving | expense ratio p90 |
| 2015-03 | 7 |  | charge-offs p90 |

## In the news (Google News, unfiltered, newest first; check the city)

- 2015-04-06 [No. Providence’s Union Federal Savings to close - WPRI.com](https://news.google.com/rss/articles/CBMifEFVX3lxTE9tZzJOWkF5dUFUbXVldEc3YnJYeGZGdFU2NmR2RlRwOG5TRkhodUxibzVTODNoUFlHSmVOejlJVlZGdVZMcmEweGc5anhVcWRaejJfNEhsX0lBQWUtTTFGcUdHQVBMVlpMQlV0Nk9QSFQ4eDd3RHlhU2dCZ2PSAYIBQVVfeXFMTzltZk1fVlZ3aUJWREJwUWg5cTN0ODhTZVlMRG80dDE1dGNpU3FSNnRyQmhERmQtR1hGY3FocGNRamQ0a0hDSEVXajJmWVc0Q1Ytd2JoR05LWUtpYUE3WU5iNXFxRGd5Y1luemNQWkhCQTRmSndQMWVNY2JaZTFMV0Zpdw?oc=5) · WPRI.com
- 2021-03-14 [Tropical Financial’s Rick Shaw Promoted to Chief Operations Officer - citybiz](https://news.google.com/rss/articles/CBMipwFBVV95cUxQNDZ4WW5ad0FiWmxFQWMzZ0g0SkJhRjA4cklSYXdreVlkaE94dVBKbWNXSy1Ydk1TYURxcmpJX2hCR2VkRHR3ak9ycFAzd2FyVGR3M1hobXZqN18zSUdkY2swMm9BakM5T0o0QV85MjNZMlNyVll6UEdBc08xX01KUXBYaWEtS0JzOE5NR3dCLVNVS0lxX1RiZDlKVUtxQUVwbVJacGY4cw?oc=5) · citybiz
- 2013-08-27 [Gelber named First Marblehead president - Providence Business News](https://news.google.com/rss/articles/CBMibkFVX3lxTE5PMTVLZjRmY0tDZW5JSWtBZFhTcUV3blBRQmQyN05FUU9XclhWcmVDZDZ4ZVNpN2tGRnFFaEtDVFNSNmxYVmFkTXpwS2VJSHdrUW5rWDQ0SkI0anNNWlFia2VPOGh2eDRydmhRWmVn0gF2QVVfeXFMTVE0MjVoM0FJQWV4OWFXNU1iNml6RDAtbU40RVpmeTRDR1ZUUXRNeW1nSUx4TFFEc3VZZHNjaWVBdlZpc1E3M0xtSXlNWWhlQlg5WWF2clRLSTRtM0hCMmNDTGlXcjJTTjZiZG15Q3dlMzE2akpDZw?oc=5) · Providence Business News

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=57189 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/37.json (key "57189", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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