# BUTLER HERITAGE
Middletown, OH · NCUA charter 11440 · asset band <$50M · latest filing 2025-03 · stopped filing after 2025-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/butler-heritage-11440

Who the members are: federal charter, community charter, organized 1956. 776 members of 390,357 potential (0.2% of the field); checking penetration 57% (share draft accounts per 100 members); loans per 100 members 30.

**Verdict on the desk:** this could be *too clean*. Composite score 10 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $9.7M |
| Members | 776 (-10.3% YoY) |
| Full-time staff | 1 |
| Net worth | $475,708 |
| Net worth ratio | 4.9% (p1 of band) |
| ROA (annualized) | -3.70% (p2 of band) |
| Total delinquency | 0.00% (p9 of band) |
| Net charge-offs (annualized) | -0.08% (p11 of band) |
| Loans / shares | 19% (p5 of band) |
| Cash / assets | 56.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.00% (p56 of band) |
| Operating expense / assets | 8.32% (p97 of band) |
| Vehicles % of loans | 62% (p49 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p43 of band) |
| Vehicle delinquency | 0.00% (p16 of band) |
| Vehicle NCO | 0.00% (p33 of band) |
| Repossessed % of vehicle book | 0.00% (p45 of band) |
| Real estate % of loans | 23% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 15% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 93% |
| Certificates % of member funds | 0% |
| Average share balance | $5,397 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 30% |
| Loans granted per 100 members, annualized | 3% |
| Average loan balance | $7,442 |
| Loans granted, annualized | $309,996 |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **auto monoline** (`str_vehicle`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | delinquency 2x band |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 2 | net worth falling |  |
| 2016-12 | 0 |  | delinquency 2x band, net worth falling |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 1 | losing money |  |
| 2017-12 | 2 | members leaving |  |
| 2018-03 | 3 | assets shrinking |  |
| 2018-06 | 4 | delinquency rising |  |
| 2018-09 | 4 |  |  |
| 2018-12 | 3 |  | losing money |
| 2019-03 | 2 |  | delinquency rising |
| 2019-06 | 3 | net worth falling, losing money | assets shrinking |
| 2019-09 | 1 |  | members leaving, net worth falling |
| 2019-12 | 2 | members leaving |  |
| 2020-03 | 2 | net worth falling | losing money |
| 2020-06 | 4 | thin capital, losing money, delinquency rising | members leaving |
| 2020-09 | 4 | members leaving | delinquency rising |
| 2020-12 | 5 | loan book shrinking |  |
| 2021-03 | 6 | margin squeeze |  |
| 2021-06 | 8 | capital below 7% |  |
| 2021-09 | 8 |  |  |
| 2021-12 | 8 | delinquency rising | loan book shrinking |
| 2022-03 | 10 | charge-offs p90, loan book shrinking |  |
| 2022-06 | 8 |  | delinquency rising, loan book shrinking |
| 2022-09 | 6 | loan book shrinking | net worth falling, margin squeeze, charge-offs p90 |
| 2022-12 | 7 | charge-offs p90 |  |
| 2023-03 | 5 | assets shrinking | losing money, loan book shrinking, charge-offs p90 |
| 2023-06 | 9 | losing money, delinquency rising, charge-offs p90, auto monoline |  |
| 2023-09 | 9 |  |  |
| 2023-12 | 9 | loan book shrinking | delinquency rising |
| 2024-03 | 11 | delinquency 2x band, delinquency rising |  |
| 2024-06 | 7 |  | capital below 7%, charge-offs p90, delinquency 2x band |
| 2024-09 | 10 | capital below 7%, expense trap, charge-offs p90 | delinquency rising |
| 2024-12 | 10 | net worth falling | charge-offs p90 |
| 2025-03 | 10 |  |  |

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

- 2025-07-01 [NCUA closes 2 credit unions in 2 days - Banking Dive](https://news.google.com/rss/articles/CBMiogFBVV95cUxQalp4a3lDWDF6WWc5ZjJGY0tqSlg5UDV6czhORFAxVWhQZU1YS2F0QURwWlJSWW5BbXNYSGVpWHdpczAxM0g1dFlER21pV2dWR1lYZ2ZGSWtXS2pCUHU4OGFoVUdrTk5oQXJIdlp5MzJ1ajRhYkhHTkZKem5ER2dMa0dNWXhReXRrMVQ1dnNhak1xRVdEVFZ1NFRJbkFQaGZJd0E?oc=5) · Banking Dive
- 2025-06-30 [Ohio Members Stopped the Merger, Only to Watch Their Credit Union Collapse - CUTimes](https://news.google.com/rss/articles/CBMirgFBVV95cUxQZnpTQ085TDhRaVFjTUhoYTFULU9HV1FTQ2RQSGdTUDJETVhmUjZ5S1dDeEVWelRfUUtwY2pPNGhnQVV1TFJ4VWN5OW5XMDJBZ1Y5cmdlRnFEU3Exek9NWUp4SUc0TjlDdFVHSDg5eHAzYTBnbFZ2QmFwWEZnNk1BT1A0V3FpaENGV3RaaWRENUtySGNya2RvSEJNZEIzVS1Ybl82Y1V5U3FUaE50ZWc?oc=5) · CUTimes
- 2025-07-10 [Greater Cincinnati credit union Butler Heritage shut down, taken over - The Business Journals](https://news.google.com/rss/articles/CBMirgFBVV95cUxOZzFJNWgzX2ZFaGhVNXN3cEVlaFpkVEZ3N3lORlRjZy1PSFhUbndHOE1rZTJ1Z2ZOQ1lmSFB3ZjJ1ZWp6U1NpbDZfRHhzdE5nVUE4ZXRONWxxTnc4Nk9BcDFRYUxCVk1nYlphTEowMGZ5cGo0aGVIU0VzcDVPc2pWMkV3YnR1ay1YVThpWTdMYlFlMC1IVlNuOUZiUGd1TG1aam10dFI4NFg0dGhRUGc?oc=5) · The Business Journals
- 2025-12-05 [All the Banks and Credit Unions That Failed in 2025 - U.S. News & World Report](https://news.google.com/rss/articles/CBMilgFBVV95cUxORWgzQ0UwU1QtamFOSUV2VkNBM1VMZGxabDZtWGtwT3dlb19Sa25nRjR0dVo2eExQNWoxcEgwMGV1WjRGSWJ0Rzd2cmZCdzZsNmVKN0JxTUF3dkNZM2w5aDRHMEpZY0N5RldKYjlLNlVZUml5aHFid1lIWktQMi0tYkROVkU5d29oU05BZ0s5TVJtU2NxQlE?oc=5) · U.S. News &amp; World Report
- 2025-07-01 [NCUA's one-member board liquidates two failed credit unions - American Banker](https://news.google.com/rss/articles/CBMimgFBVV95cUxPSUtzY2RQRno1NUc5Wll3UWdyVnMtZjBWTVZGOThjd21lLVRaTUxnRE40NzVVVmw4bnQtUFhXXzVyTjltNGMwZkF5Sm9WT2Y1WGhRbVB6OUFzeDlZSEVha3ljbXduaFB0VmZQRUpOOXBmT09pVjRhV0g1OWktcC1hTXJPOEw4Rk03OHA1cVE1NzBwR2habUpROWVn?oc=5) · American Banker
- 2023-08-08 [Robert John Fraley Obituary Aug 8, 2023 - Hoskins Funeral Homes - hoskinsfh.com](https://news.google.com/rss/articles/CBMiX0FVX3lxTE9Xdjl4amN3RnVOYXdoN0VndDFWaS1va3BtUHU4R0gxU1lwSkZ6OFMzbEgtRTlHM0VqeHlTdUxybEh6VmFudXBNNjdfMW50eU5nbkliSEpDUGV2cE1hUUFN?oc=5) · hoskinsfh.com
- 2021-02-18 [Linda FITZWATER Obituary (1942 - 2021) - Middletown, OH - Dayton Daily News - Legacy obituary](https://news.google.com/rss/articles/CBMijAFBVV95cUxORlUtRnpUNnRyN1Rtc1g5NUZ5OVdKNElTbTRRVmNYWkczN09FYkZleEU4MlV3ZWxKWVdZVmVRZlpzQy1XOVQ5Y0l0NkQ2dk1MMkNoMV91cG5HUUxOVm8xSXh0b2tPSGxQNWRBLTN6WmxFRlJZcUZSX3RiNmlPMk5naE1BX2tsWjE4eVF0Yw?oc=5) · Legacy obituary
- 2017-12-15 [Arrests made after Middletown mom of 9 died from an overdose, community responds - Cincinnati Enquirer](https://news.google.com/rss/articles/CBMixgFBVV95cUxNUFBfUTZPUzJoMjNFUHJ4SkZ5bVZvemMzS1R5RVdnbkVoSjVKS3Fya2x1eEhGb0JqTngtcmpISm9pOHZKSXlDYTNKT1BqZnBOR1R2dEs0YTlrWHdXTEl6cnVUMnZRazRabEN2bS1SV0hMZGtNSC1xclVvRWNxY094VGlGMDVtZ2RVN2dQLU1RcmlFMXdSVndfU283VzdRbE9iWDczYTRDNnpZNkM1YUw3bzdFNkdKWWpxaU1HakVPUjFaRUVqcmc?oc=5) · Cincinnati Enquirer

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=11440 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/48.json (key "11440", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=11440
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide