# NORSTATE
Madawaska, ME · NCUA charter 4261 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/norstate-4261

Who the members are: federal charter, multiple common bond, organized 1941, low-income designated. 14,075 members of 48,000 potential (29.3% of the field); checking penetration 65% (share draft accounts per 100 members); loans per 100 members 81.

**Verdict on the desk:** this could be *ordinary*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $280.4M |
| Members | 14,075 (-1.1% YoY) |
| Full-time staff | 73 |
| Net worth | $32.0M |
| Net worth ratio | 11.4% (p53 of band) |
| ROA (annualized) | 0.40% (p28 of band) |
| Total delinquency | 1.46% (p91 of band) |
| Net charge-offs (annualized) | 0.33% (p45 of band) |
| Loans / shares | 77% (p56 of band) |
| Cash / assets | 7.7% |
| Borrowings / assets | 0.71% |
| Net interest margin | 3.62% (p55 of band) |
| Operating expense / assets | 3.89% (p59 of band) |
| Vehicles % of loans | 22% (p25 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 41% |
| Third-party paper % of net worth | 59% (p43 of band) |
| Vehicle delinquency | 0.96% (p76 of band) |
| Vehicle NCO | 1.01% (p70 of band) |
| Repossessed % of vehicle book | 0.25% (p89 of band) |
| Real estate % of loans | 51% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 102% |
| Core shares % of member funds | 43% |
| Certificates % of member funds | 34% |
| Average share balance | $7,047 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $1.6M |
| Loans outstanding per 100 members | 81% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $16,768 |
| Loans granted, annualized | $41.4M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $1.6M outstanding purchased (5.0% of net worth), $0 sold and retained. Sold in 0 and bought in 3 of the last 8 quarters. Shares 2.0% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **delinquency 2x band** (`aq_dq_high`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | delinquency 2x band |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 3 | net worth falling, losing money |  |
| 2016-12 | 2 | loans>95% of shares | net worth falling, losing money |
| 2017-03 | 1 |  | loans>95% of shares |
| 2017-06 | 1 |  |  |
| 2017-09 | 2 | loans>95% of shares |  |
| 2017-12 | 1 |  | delinquency 2x band |
| 2018-03 | 3 | delinquency 2x band, repo signal |  |
| 2018-06 | 2 |  | repo signal |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 3 | delinquency rising |  |
| 2019-09 | 2 |  | delinquency rising |
| 2019-12 | 2 |  |  |
| 2020-03 | 3 | net worth falling |  |
| 2020-06 | 2 |  | loans>95% of shares |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 |  |  |
| 2022-03 | 2 | charge-offs p90 |  |
| 2022-06 | 2 | delinquency rising | charge-offs p90 |
| 2022-09 | 2 |  |  |
| 2022-12 | 1 |  | delinquency rising |
| 2023-03 | 2 | net worth falling |  |
| 2023-06 | 1 |  | net worth falling |
| 2023-09 | 1 |  |  |
| 2023-12 | 3 | net worth falling, repo signal |  |
| 2024-03 | 3 | losing money | repo signal |
| 2024-06 | 3 |  |  |
| 2024-09 | 3 |  |  |
| 2024-12 | 4 | repo signal |  |
| 2025-03 | 3 |  | repo signal |
| 2025-06 | 3 |  |  |
| 2025-09 | 2 |  | net worth falling |
| 2025-12 | 2 |  |  |
| 2026-03 | 2 | net worth falling | losing money |

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

- 2025-04-11 [NorState Federal Credit Union announces two promotions - thecounty.me](https://news.google.com/rss/articles/CBMiowFBVV95cUxPMlh0QlpzZU1DSHZVV29tZW9JSUtMTFJTS1daUDU3ZnA1TXZZZlJublhBVzBrYzJXc3NKd1hPejlvNmR6dlF6VVFOYklZQXNzclI2aGlzTTZzdHVzY0duZndIYkxTWnJWbU9iaHBjUnYwZkszYzlpVWc3dllvampDbk9WMUxCSUs2TjFDaWdHRndDR1dJZEtjRkx0TnJvRnphZjlN?oc=5) · thecounty.me
- 2025-02-12 [New CU Chief Credit Officer Focused on ‘Improvements, Efficiencies and Growth’ - CUTimes](https://news.google.com/rss/articles/CBMisAFBVV95cUxON0pkM0V4NFI0TGJybmRVR2VQZm9kRFBIREpRdDkwSGh4SDlXejc0UmYtdW93YU1pZ0w4anlzUTQxUmF0VGFhVnRITUN3Y2hlcnhlWVNoQmZueFRNM2JLRzNLa2xLS250MFBEVEQ3ZlpuazQyX3dlU2tYMnVpLVpPdHhKR0w2RkFTRl84TERqMnJZTXItMldBblRfb2M4MTB1dkVaakhsWWdDUDNndWVFQw?oc=5) · CUTimes
- 2024-04-15 [NorState FCU announces promotions and position changes - thecounty.me](https://news.google.com/rss/articles/CBMiowFBVV95cUxOcWhMbHlYUGJTSklFRE9YbTNYWTV3VjBhQm9SLTJOc2tqb3docmttMXgxN0ZMbDd4eEc5WEZCUjg5S1RndlYwcUxSNERjQjBka3dHM3NDRkFpdWx6bnhKVGVXczZCM0NZTWNNanRYeW1MYm5yamd2Sm1JUEEwRnoyZmQyS1oxcWhOejBaY1lwc19kTUhmSHB4YnpMWXdKb1FBNmdF?oc=5) · thecounty.me
- 2022-12-09 [NorState FCU heads into 2023 under new leadership - thecounty.me](https://news.google.com/rss/articles/CBMinAFBVV95cUxNbDdzY18yeG9uTzRQRC1kSDNCY3RzYUZOcVV4Z0w0MGE3UVRZbTA5MWtqejdmc3VDRFdYZWljQTVXbWFBRjVaMEUyLXdrT29FU09oaWZoWXlpYXE2dFhTUHJkVkJwamZuYTdqZ01Ha0QyRVozelZ0VjJ3NHh5T1hUV0pNSVFmZzNQTEllWkNaZUNDMWwwa21xcFlIRm8?oc=5) · thecounty.me
- 2026-07-22 [NorState FCU’s 2nd Annual Special Olympics Golf Scramble raises $25,400 for Aroostook County athletes - thecounty.me](https://news.google.com/rss/articles/CBMi3gFBVV95cUxNdll5bjlHSjMwN3JhdS04NE5acVJwQ1dVLUZ1d2hVV3dXUDVXQldjQ3JqcFN5OXVtZHg3SFlaek9jR1p1RG43Y0VfUGhJZDdnTDZOWHlrckhwODlGRXMtUXZEenc4SGcyQ0Qxb1Q5bVBpcW5wSENaUHRERUtiNXhKMmFDZ0M1VmxEY2ZxME0tdG14TUpJeTQtZ0ZFRmhuWjFQMFhGQTBZUHRrcmdWUWpodVZxMFoxTWxNZDhoVU5faVJzS1ZYNndkcXAzcy0xZzc1cUZadThPUkptT0ppT0E?oc=5) · thecounty.me
- 2026-05-06 [NorState FCU to host 2nd annual Special Olympics golf scramble - thecounty.me](https://news.google.com/rss/articles/CBMirgFBVV95cUxQVzJVU1l0UjhHUERRSUZza1lFU2ZkOXBPV0c4WUltVWg1ZlVqNjZLc1dzSEhRQTd6NVhSMC1ZMDhvRlUwelNJSjdfTXNFNGRXNjQ2bk93V05ybHowOHd1SGZKOXNySDdkVV94ZWJLNnFPU0QwR01UQW9EM3BZSUc0VzhWakZvSmtzNS1MU2ZMSVo2TTROTGJQaU8yZTJYcGx0ZGZHVHREeUVuVk9iR1E?oc=5) · thecounty.me
- 2024-06-13 [NorState FCU awards scholarships to high school seniors - thecounty.me](https://news.google.com/rss/articles/CBMipAFBVV95cUxNRnFMVjFITlFheTR2cldkUUdyR1lKVlV5TjFOUklFaWp2XzRMVHNKbHdzQlZhV01SQmVoZXBHVkxsaW1pN2VCSTFyR1RyeVc1ZTIxVThLTHJMMXlkdkllbHlrYXI5bFczLUZDSkg3cTZfX0JGS3hYZHJaM0Z6MnhxNVN6YmJUUGVybGtrUGlPeUQyNkUyU2JJanA1aTFDQ3pnb0g3Zw?oc=5) · thecounty.me
- 2025-04-29 [NorState FCU to Continue Golf Tournament Mission - thecounty.me](https://news.google.com/rss/articles/CBMimwFBVV95cUxONDF4QWVLTmZ0Z0VMamNsOFN2LWVxeU41ZnZxbXowNFJPdzc0MDE1WnRxVDRKbjFBSVdMMW1WeVpmS2R6OUY2NDJFdnliLUYzUEJieVNLRnVvSXlBWnRDejByM1JJZE9BSnN2Q2xJVHFQNmVweU5mLTVoMkJLY3BaRU5iUUtOOGN0OU1handuaWZEZjJFUlREZUFVaw?oc=5) · thecounty.me

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=4261 (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/37.json (key "4261", 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=4261
- 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