The Nottingham Building Society said lending figures and profits were up as it prepared to hand over to a new chief executive.
The mutual, one of the top 10 biggest in Britain, said its net underlying income was 拢49 million in the last calendar year, up from 拢44.3 million the year before.
It said pre-tax profit in 2021 was 拢15.1 million 鈥 with an underlying pre-tax profit of 拢7.4 million 鈥 compared to losses of 拢8.4 million the year before.
Gross mortgage lending was up 13 per cent, it said, to more than 拢550 million resulting in total assets of 拢3.6 billion.
Meanwhile the society had 鈥渧ery low鈥 arrears levels of 0.21 per cent, which were a quarter of the industry average of 0.83 per cent.
In all it had branch savings balances of 拢2.5 billion across 48 high-street locations covering nine counties.
Chief executive David Marlow鈥檚 is stepping down as chief executive to be replaced by Sue Hayes.
Mr Marlow said: 鈥淓ntering 2021, we had a number of key areas on which to focus our energies 鈥 the ongoing Covid-19 pandemic; the significant economic uncertainty brought about by a combination of the pandemic and Brexit; our intent to reinvent the society for the emerging new world; continue to act as a responsible society accepting our responsibilities to stakeholders, communities and the environment; and to continue to grow membership, whilst delivering a level of financial performance that would sustain us for the future.
鈥淲hilst the challenges of the pandemic remain, I am delighted to report good progress on the development and delivery of our strategy, as well as a return to strong financial performance providing the platform for continued investment and growth.
鈥淲e enter 2022 financially strong and confident that the changes we are making to reinvent the Society are the right ones ensuring that we have a relevant and vibrant future.鈥
鈥淚 am immensely proud of what we as a team have consistently achieved over many years and it has been an honour and privilege to serve our members over that period.
鈥淭he Nottingham will always have a special place in my heart, and I will continue to watch our continued progress with real interest and pride.
鈥淢y enormous gratitude and respect go to our colleagues and partners for their outstanding efforts in what has been another unique and challenging year.
鈥淵ou have all been amazing. Finally, I鈥檇 like to thank our members for continuing to have faith and trust in us to help you save, plan, and protect your futures.
鈥淚 hope that continues for many years to come.鈥
Mr Marlow said that in the face of intense competition, the society continued to help its members buy homes by widening its mortgage offering.
Overall new mortgage applications rose by 22 per cent on 2020 figures, supporting an increase in net interest income of 13 per cent to 拢45.9 million, with underlying income rising 11 per cent to 拢49 million.
Another key priority for the year was to launch the society鈥檚 very first app through its Beehive Money digital brand.
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