# FIRST CASTLE
Covington, LA · NCUA charter 5 · asset band $50-100M · latest filing 2020-03 · stopped filing after 2020-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/first-castle-5

Who the members are: federal charter, community charter, organized 1934. 5,814 members of 227,000 potential (2.6% of the field); checking penetration 38% (share draft accounts per 100 members); loans per 100 members 52.

**Verdict on the desk:** this could be *stressed*. Composite score 11 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $69.2M |
| Members | 5,814 (-6.8% YoY) |
| Full-time staff | 17 |
| Net worth | $2.0M |
| Net worth ratio | 2.9% (p0 of band) |
| ROA (annualized) | -18.36% (p0 of band) |
| Total delinquency | 1.65% (p91 of band) |
| Net charge-offs (annualized) | 5.46% (p100 of band) |
| Loans / shares | 83% (p83 of band) |
| Cash / assets | 14.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.64% (p20 of band) |
| Operating expense / assets | 16.57% (p100 of band) |
| Vehicles % of loans | 41% (p46 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 32% |
| Third-party paper % of net worth | 356% (p96 of band) |
| Vehicle delinquency | 1.42% (p86 of band) |
| Vehicle NCO | 7.14% (p100 of band) |
| Repossessed % of vehicle book | 0.12% (p83 of band) |
| Real estate % of loans | 48% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 147% |
| Core shares % of member funds | 32% |
| Certificates % of member funds | 44% |
| Average share balance | $6,428 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 52% |
| Loans granted per 100 members, annualized | 32% |
| Average loan balance | $17,778 |
| Loans granted, annualized | $9.9M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **delinquency rising** (`aq_dq_rising`)
- **charge-offs p90** (`aq_nco_high`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, 3rd-party paper>100% NW, auto monoline |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 3 |  |  |
| 2016-12 | 3 |  |  |
| 2017-03 | 5 | delinquency 2x band, assets shrinking |  |
| 2017-06 | 7 | delinquency rising, repo signal |  |
| 2017-09 | 6 | losing money | delinquency 2x band, delinquency rising |
| 2017-12 | 6 | members leaving | assets shrinking |
| 2018-03 | 5 |  | losing money |
| 2018-06 | 6 | net worth falling, leaning on borrowings | auto monoline |
| 2018-09 | 4 |  | net worth falling, leaning on borrowings |
| 2018-12 | 6 | losing money, delinquency rising |  |
| 2019-03 | 5 | net worth falling | losing money, delinquency rising |
| 2019-06 | 4 |  | net worth falling |
| 2019-09 | 6 | losing money, delinquency 2x band |  |
| 2019-12 | 8 | delinquency rising, assets shrinking |  |
| 2020-03 | 11 | capital below 7%, expense trap, charge-offs p90 | repo signal |

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

- 2020-08-26 [First Castle Credit Union merges into Pelican State as losses mount - American Banker](https://news.google.com/rss/articles/CBMitwFBVV95cUxPX3NIdW9YMDRCLWJvVkYzalN3cVBaTklaSi1OSHdNcFpjd29waVZMV1B5Rk9DYnRCaVl6NThOQWRlVzZabnJSRDVzbXk3WFhuYXhvRnZYeVVielZYS21acUlTaVRxcXliQUpzT0llSUZqVlpLZlV1SkZuTXloQkRPQXUzZVBhZjVOaF9jbUYtenNvNHZSaEtYTDhNb21GZmxoTjVpelp2RmhDVV9XMmZ4ejMtX3VLYzQ?oc=5) · American Banker
- 2014-09-24 [Miss a Payment? Good Luck Moving That Car - The New York Times](https://news.google.com/rss/articles/CBMiiAFBVV95cUxQeTZxbjd3M242azBNNTFLNWRlREp1WG9lSEEwYmxPOGI0YXpzaGhVeVJWeWpRMGRiU2xvZkVwLVNYMlpwNnBsbnBpcWtkNlpaX2hLZXBnNzRNOFBRMFl5bjFfaTlTYnNlVWM0SzhVb1hTU1hsMlNjS2VVVzI5bmJWSmNDR3JsUEtK?oc=5) · The New York Times
- 2017-12-21 [West Jefferson property transfers, Nov. 30-Dec. 8, 2017 - NOLA.com](https://news.google.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?oc=5) · NOLA.com
- 2018-11-16 [West Jefferson property transfers, Oct. 26-30, 2018 - NOLA.com](https://news.google.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?oc=5) · NOLA.com
- 2020-02-27 [St. Tammany property transfers, Feb. 7-13, 2020 | Business News - NOLA.com](https://news.google.com/rss/articles/CBMixwFBVV95cUxOdU4zMzBDQTlFNE5lZGlkSGUyZFd1emJYaVFzOEdLOTJvd1lWeWgwenp2MlNuZDVUekVYb1ZELWpqRzRrM0Nmdm9sSUs0Qm5TUGtqdjhnaFdJUGVWeGpzTE01ZDYtVXBuYXBYX1o0WVA4aXBfc0puVjViY1RiTHBBOG5HQnVZMVR3MlBXbkNsaFI0Yk9MSXZBSnp6aHdHOHRSWDM5T1dUdHZaSjlLaWpHM2Zsc0lOVXhIUWs5cW1sZDlRNUVFVTNN?oc=5) · NOLA.com
- 2017-04-21 [St. Tammany Parish property transfers, March 21-27, 2017 - NOLA.com](https://news.google.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?oc=5) · NOLA.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=5 (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/5.json (key "5", 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=5
- 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