Investor Presentaiton
LOUISIANA CORPORATE CREDIT UNION
NOTES TO FINANCIAL STATEMENTS
2. INVESTMENT SECURITIES (continued)
Information pertaining to securities with gross unrealized losses at December 31, 2021 and 2020,
aggregated by investment category and length of time that individual securities have been in a continuous
loss position, follows:
Less than 12 months
Fair Value
December 31, 2021
12 months or more
Unrealized Loss
Fair Value
Available-for-sale:
U.S. Agency securities
Mortgage-backed securities
$
9,195,215 $
20,245,271
(54,785) $
(84,700)
$
Student loan asset-backed securities
4,179,598
6,420,174
$ 29,440,486 $ (139,485)
$ 10,599,772 $
(24,731)
(122,105)
(146,836)
$ 40,040,258
Total
Unrealized Loss
Fair Value
Unrealized Loss
(54,785)
(109,431)
(122,105)
$ (286,321)
$ 9,195,215 $
24,424,869
6,420,174
Less than 12 onths
Fair Value
Unrealized Loss
Fair Value
December 31, 2020
12 months or more
Unrealized Loss
Total
Fair Value
Unrealized Loss
Available-for-sale:
U.S. Agency securities
$
Mortgage-backed securities
5,000,000 $
8,482,654
Student loan asset-backed securities
2,667,525
8,131,803
(38,484)
(272,856)
(16,742) $ 10,070,455 $ (40,463) $ 15,070,455 $ (57,205)
(29,116)
11,150,179
8,131,803
(67,600)
(272,856)
$ 13,482,654 $
(45,858) $ 20,869,783 $ (351,803) $ 34,352,437
$
(397,661)
Substantially all of these securities with gross unrealized losses are either guaranteed by the U.S. Government
or secured by mortgage loans or student loans. These unrealized losses relate principally to current interest
rates for similar types of securities. Because the Credit Union does not intend to sell the investments and it is
not more likely than not that the Credit Union will be required to sell the investments before recovery of their
amortized cost basis, which may be at maturity, the Credit Union does not consider those investments to be
other-than-temporarily impaired at December 31, 2021 and 2020.
3. PREMISES AND EQUIPMENT
Premises and equipment is summarized as follows:
December 31,
2021
2020
Furniture and equipment
$
194,968
$
210,992
Leasehold improvements
8,039
8,039
203,007
219,031
Less: accumulated depreciation
(185,039)
(199,370)
Premises and equipment, net
$
17,968 $
19,661
Depreciation expense for the years ended December 31, 2021 and 2020, was $13,025 and $14,617,
respectively.
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