DBRS Morningstar: Central 1’s Q3 2019 Earnings Declined Sequentially; Recurring Revenues Remain Stable
Central 1 Credit Union (Central 1) reported net income of $5.7 million in Q3 2019, a 55% decline quarter over quarter (QOQ). The sequential decline in earnings was caused by a shift in the portfolio asset mix, which resulted in lower realized and unreal-ized gains coupled with an inversion in the yield curve, which compressed the net interest margin.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
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