National Cooperative Bank (NCB), a financial services company that provides banking products and services to co-operatives nationwide, reported consolidated earnings of $13.9 million for 2015.
“We are pleased to report the Bank’s positive corporate results for 2015,” said Charles Snyder, CEO of NCB. “We had a strong year of lending to cooperatives, their members, and socially responsible organizations, resulting in originations of more than $1.2 billion.”
Snyder continued, “We also experienced excellent growth in our deposits contributed greatly by our lockbox solutions for management companies and our collaboration with the credit union sector. The Bank’s mission lending and investments also posted exceptional results in 2015, with $290 million serving low and moderate income communities and co-op development.
“Our continued success is attributed to our strong product lines and commitment to superior service. We remain a consistent source of full service banking for cooperatives, offering competitive loan, deposit and cash management solutions.”
NCB also reported total assets of $2.2 billion and total deposits of $1.7 billion as of December 31, 2015.
Regulatory capital ratios at National Cooperative Bank, N.A. continue to be strong. On December 31, 2015, National Cooperative Bank, N.A. had a total risk-based capital ratio of 13.49% and a tier 1 leverage or core capital ratio was 12.81%.