# BULL DOG
HAGERSTOWN, MD · NCUA charter 18868 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/bull-dog-18868

Who the members are: federal charter, community charter, organized 1968, low-income designated. 21,251 members of 160,000 potential (13.3% of the field); checking penetration 69% (share draft accounts per 100 members); loans per 100 members 23.

**Verdict on the desk:** this could be *liquidity-rich*. Composite score 0 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $241.5M |
| Members | 21,251 (-1.2% YoY) |
| Full-time staff | 48 |
| Net worth | $28.7M |
| Net worth ratio | 11.9% (p59 of band) |
| ROA (annualized) | 0.91% (p65 of band) |
| Total delinquency | 0.52% (p43 of band) |
| Net charge-offs (annualized) | 1.02% (p88 of band) |
| Loans / shares | 40% (p2 of band) |
| Cash / assets | 9.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.67% (p58 of band) |
| Operating expense / assets | 3.28% (p33 of band) |
| Vehicles % of loans | 52% (p83 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 35% |
| Third-party paper % of net worth | 57% (p43 of band) |
| Vehicle delinquency | 0.26% (p23 of band) |
| Vehicle NCO | 0.49% (p42 of band) |
| Repossessed % of vehicle book | 0.37% (p93 of band) |
| Real estate % of loans | 8% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 16% |
| Commercial % of net worth | 56% |
| Core shares % of member funds | 95% |
| Certificates % of member funds | 0% |
| Average share balance | $5,798 |
| Participations bought / yr | $6.2M |
| Participations sold / yr | $0 |
| Participations outstanding | $15.3M |
| Loans outstanding per 100 members | 23% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $17,681 |
| Loans granted, annualized | $43.9M |

## Participation posture (from the same filings)

Bought $6.2M and sold $0 in the latest annualized quarter; $15.3M outstanding purchased (53.3% of net worth), $0 sold and retained. Sold in 0 and bought in 4 of the last 8 quarters. Shares -0.3% year over year.

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 2 | delinquency 2x band |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 | charge-offs p90 | delinquency 2x band |
| 2017-03 | 3 | net worth falling, losing money | charge-offs p90 |
| 2017-06 | 2 | charge-offs p90 | net worth falling, losing money |
| 2017-09 | 2 |  |  |
| 2017-12 | 1 |  | charge-offs p90 |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 2 | 3rd-party paper>100% NW |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 3 | delinquency rising |  |
| 2019-12 | 2 |  | thin capital |
| 2020-03 | 5 | thin capital, losing money, charge-offs p90 |  |
| 2020-06 | 6 | net worth falling, margin squeeze, auto monoline | delinquency rising, losing money |
| 2020-09 | 5 |  | net worth falling |
| 2020-12 | 6 | delinquency 2x band |  |
| 2021-03 | 6 | net worth falling | delinquency 2x band |
| 2021-06 | 7 | delinquency 2x band, loan book shrinking | net worth falling |
| 2021-09 | 6 |  | margin squeeze |
| 2021-12 | 6 |  |  |
| 2022-03 | 5 |  | delinquency 2x band |
| 2022-06 | 7 | net worth falling, delinquency 2x band |  |
| 2022-09 | 5 |  | auto monoline, net worth falling |
| 2022-12 | 6 | delinquency rising, assets shrinking, auto monoline | thin capital, loan book shrinking |
| 2023-03 | 4 | thin capital | delinquency 2x band, delinquency rising, assets shrinking |
| 2023-06 | 2 | assets shrinking | charge-offs p90, auto monoline, thin capital |
| 2023-09 | 4 | delinquency 2x band, members leaving |  |
| 2023-12 | 2 |  | 3rd-party paper>100% NW, assets shrinking |
| 2024-03 | 4 | delinquency rising, charge-offs p90 |  |
| 2024-06 | 4 | repo signal | charge-offs p90 |
| 2024-09 | 2 |  | members leaving, delinquency rising |
| 2024-12 | 2 | charge-offs p90 | repo signal |
| 2025-03 | 1 |  | delinquency 2x band |
| 2025-06 | 2 | delinquency 2x band |  |
| 2025-09 | 2 |  |  |
| 2025-12 | 1 |  | charge-offs p90 |
| 2026-03 | 0 |  | delinquency 2x band |

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

- 2022-08-16 [Robert Schleigh Obituary - The Herald-Mail](https://news.google.com/rss/articles/CBMiZEFVX3lxTE5mdkRjYWZvQ2lEWkdNaXZmZWVkS0g1UmZWZ2ljWkZSTHpibkVRcE9wZ1p3aEhlN1RaMlN4Um5RbGp6OHlUOWZMSGRFZldFRGpmaFBESVdETHdPdDVZVXYtaEo2YnU?oc=5) · The Herald-Mail
- 2026-06-01 [It’s time! Cast your votes now for 300+ Best of Columbia 2026 awards - Post and Courier](https://news.google.com/rss/articles/CBMi5AFBVV95cUxONDlIYU5UU2FTSDdZTk9wQTVGeWpuRUYxcXlqZlNtUTVJa2ZSVDlzclU2VWFnS1BTSF9WMkIxT2FBVnNvTWpNUUhLenF6dGNQcS1PRGxOQTNYamVKNU5FYTJHdDA3RjBpeUpMLUlxZ3piczVIOFBubmJsVXlVdTgxRGZpVmN5VWNCMWw2N1pfRWNWUDlGNVlfSnNMT05HSE0zZjlxQlRMMFBJS3gxY01SUkNKX3ZOblVEV0lZc0FVaHA3N25lZ3ZYTUhjcXRHSzNUWURPcDdHYmxzc1c3bkw5MEVBTE0?oc=5) · Post and Courier

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=18868 (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/52.json (key "18868", 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=18868
- 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