Safe and Sound

ST. JOSEPHS HOSPITAL

TAMPA, FL
4
Star Rating
TAMPA, FL-based ST. JOSEPHS HOSPITAL is an NCUA-insured credit union started in 1960. Regulatory filings show the credit union having assets of $53.4 million, as of December 31, 2017.

Members have $20.6 million on deposit tended by 13 full-time employees. With that footprint, the credit union holds loans and leases worth $20.6 million. ST. JOSEPHS HOSPITAL's 6,286 members currently have $46.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. JOSEPHS HOSPITAL exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three major criteria Bankrate used to evaluate U.S. credit unions.

WHAT IS
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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and provides protection for members when a credit union is experiencing economic trouble. It follows then that a credit union's level of capital is a useful measurement of its financial strength. When looking at safety and soundness, the higher the capital, the better.

ST. JOSEPHS HOSPITAL achieved a score of 16 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, beating out the national average of 15.65.

ST. JOSEPHS HOSPITAL's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as unpaid loans, on the credit union's capitalization and allocated loan loss reserves.

Having large numbers of these types of assets may eventually require a credit union to use capital to cover losses, shrinking its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in diminished earnings and potentially more risk of a failure in the future.

ST. JOSEPHS HOSPITAL exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of ST. JOSEPHS HOSPITAL's total assets in our test, less than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, likely making the credit union better prepared to withstand economic shocks. However, credit unions that are losing money have less ability to do those things.

ST. JOSEPHS HOSPITAL fell behind the national average on Bankrate's test of earnings, achieving a score of 2 out of a possible 30.

One sign that ST. JOSEPHS HOSPITAL is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, above the average for all credit unions.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.