Peer Data for New England Banks and Credit Unions - Q4, 2024

Banks

Stay informed with our latest peer financial information report, offering key insights into the performance of community banks across New England.

What’s Inside?

Our year-end 2024 report includes:

• State-Specific Data – Each New England state has its own section, plus a consolidated tab for a full regional view.
• Key Performance Metrics – Credit quality, capital adequacy, and financial performance ratios.
• Comparative Averages – Simple averages for each state and FDIC-insured institutions within the $100M–$1B and $1B–$10B asset ranges.

Key Findings

National Trends (Community Banks)

• Lower Net Income – Declined from Q3 2024 due to higher non-interest expenses, credit loss provisions, and security losses.
• Higher Net Interest Margins – Improved over Q3 and 2023, with declining costs of funds and increased yields on earning assets.
• Credit Loss Provisions Up – Increased 14% from Q3 and 8% from the same period in 2023.
• Loan Growth Continues – Broad-based growth across most loan categories.

New England-Specific Trends

• Slight Increase in Net Interest Margins – Driven by higher yields on earning assets and cost of funds, though still below national averages.
• Lower Net Loan Charge-Offs – Increased from the prior quarter but remain below national averages.
• Fewer Non-Performing Loans – Slight decrease, continuing to outperform national trends.

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For any questions, feel free to contact us.

Credit Unions

This report provides detailed financial data for credit unions throughout New England. The data is segmented by state, with an additional tab compiling data across all New England credit unions.

Key Ratios Analyzed:

We analyze and rank credit unions based on several important financial performance indicators:

• Return on Assets (ROA)

• Yield on Loans Less Cost of Funds

• Ratio of Operating Expenses to Gross Income

• Loans to Shares Ratio

Each credit union is ranked based on these ratios, along with total assets, to determine an overall performance ranking.

Comparative Insights:

The "All New England" tab includes:

• Comparative ratios for credit unions nationwide.

• Historical data for previous periods within New England.

Q4 2024 Highlights:

Performance

• Return on Assets (ROA):

  • U.S. average decreased from 72 basis points in Q3 to 66 basis points in Q4.

  • New England ROA decreased by 3 basis points, reaching 70 basis points.

Credit Quality

• New England credit unions maintain stable credit quality, slightly outperforming national averages.

• Delinquent loans increased by 2 basis points to 0.95% in New England and by 7 basis points to 0.98% nationally.

• Charge-off rates remained steady at 0.24% in New England, compared to a national increase to 0.79%.

Capital and Liquidity

• Loans to Shares Ratio:

  • Stable at 71% for New England credit unions.

  • Higher nationally, at 84%.

• Capital Ratios:

  • Consistent over the past two years.

  • U.S. credit unions: 11.2%

  • New England credit unions: Increased to 13.2% (up 63 basis points year-over-year).

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