# GULF STATES
MAITLAND, FL · NCUA charter 68412 · asset band <$50M · latest filing 2021-12 · stopped filing after 2021-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/gulf-states-68412

Who the members are: state charter, organized 1960. 2,969 members of 157,770 potential (1.9% of the field); checking penetration 48% (share draft accounts per 100 members); loans per 100 members 50.

**Verdict on the desk:** this could be *stressed*. Composite score 5 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $37.3M |
| Members | 2,969 (-6.5% YoY) |
| Full-time staff | 7 |
| Net worth | $4.9M |
| Net worth ratio | 13.2% (p58 of band) |
| ROA (annualized) | 0.04% (p33 of band) |
| Total delinquency | 2.80% (p88 of band) |
| Net charge-offs (annualized) | 0.30% (p73 of band) |
| Loans / shares | 33% (p25 of band) |
| Cash / assets | 34.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.07% (p35 of band) |
| Operating expense / assets | 2.77% (p44 of band) |
| Vehicles % of loans | 48% (p36 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 1% (p91 of band) |
| Vehicle delinquency | 0.27% (p50 of band) |
| Vehicle NCO | 0.15% (p68 of band) |
| Repossessed % of vehicle book | 0.00% (p47 of band) |
| Real estate % of loans | 41% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 6% |
| Core shares % of member funds | 79% |
| Certificates % of member funds | 4% |
| Average share balance | $6,781 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 50% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $7,167 |
| Loans granted, annualized | $3.6M |

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **margin squeeze** (`earn_nim_squeeze`)
- **delinquency 2x band** (`aq_dq_high`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 1 | repo signal |  |
| 2017-03 | 2 | delinquency rising, members leaving | repo signal |
| 2017-06 | 2 |  |  |
| 2017-09 | 2 |  |  |
| 2017-12 | 1 |  | delinquency rising |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 2 | assets shrinking |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 1 |  | assets shrinking |
| 2019-12 | 1 |  |  |
| 2020-03 | 3 | delinquency 2x band, delinquency rising |  |
| 2020-06 | 3 | net worth falling, margin squeeze | delinquency 2x band, delinquency rising |
| 2020-09 | 3 |  |  |
| 2020-12 | 5 | delinquency 2x band, delinquency rising |  |
| 2021-03 | 4 | loan book shrinking | delinquency 2x band, delinquency rising |
| 2021-06 | 5 | delinquency 2x band, delinquency rising | net worth falling |
| 2021-09 | 5 |  |  |
| 2021-12 | 5 | net worth falling | delinquency rising |

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

- 2024-06-01 [Jo Elder Obituary - Orlando, FL - Orlando Sentinel](https://news.google.com/rss/articles/CBMid0FVX3lxTE1qdEF4YlF1SVIzOGEtcFJ1UUJTSExaOVE2OGNyX3puMnNiaUZxcFl3MlBETTZ3VmNXWDM5SVhpeHlHLVF1NnhKM0x1RGxBTFZmQ003YWVzYU00ME9TY0lSSWZQZXB6QzExcEgwMWFBS0dXd082RVBN?oc=5) · Orlando Sentinel
- 2019-02-17 [Baton Rouge, New Orleans area People in Business for Feb. 17, 2019 - NOLA.com](https://news.google.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?oc=5) · NOLA.com
- 2019-09-19 [PIA Residential Acquires 224-Unit Crystal Lake Apartments in Pensacola, Florida for $26.3 Million - MultifamilyBiz](https://news.google.com/rss/articles/CBMimgFBVV95cUxNZGFPY1pGTEw3X3Y4NGd1RUJqYXpGYlN2MDhUVDYtbEVUSjBsMEtkQ09ucm5PZk9FVzlUNHpEYURoR0xBbWpBWU9lU04tcnVHWmVsUXQ2VmhyeWUydVIyYnNUTnRWV1FGTC1vZXlwVU5rMVBYSGJYQXl1eXU2aFl2OS1YcXRqVk05aHBkZndTM3hIcG1rVzRsalh3?oc=5) · MultifamilyBiz
- 2018-10-02 [Here are all of the banks that currently support Apple Pay - iMore](https://news.google.com/rss/articles/CBMid0FVX3lxTE9ZY3JkQUdrNTNjWmMzVFk2QXBlWExaRnI3bjVsQ28wVlFRWUc5TEVWMm5TWkZ6RmtKTTNZRUhKbExyS25yb2pnRTc5VklBeW13Mzk0aU9MWVNGbHpiMDJUM1pfOVFvdFhCdGpNLUJQVG9ybXYzNlc4?oc=5) · iMore

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68412 (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/60.json (key "68412", 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=68412
- 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