North Carolina - First Quarter 2008
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
1.6%
|
1.8%
|
3.5%
|
2.6%
|
3.2%
|
|
Manufacturing (13%)
|
-2.8%
|
-2.6%
|
-1.4%
|
-2.7%
|
-2.0%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
1.4%
|
1.7%
|
6.8%
|
3.7%
|
6.2%
|
|
Private Service-Producing (64%)
|
2.4%
|
2.7%
|
4.6%
|
3.7%
|
4.3%
|
|
Government (17%)
|
2.0%
|
2.0%
|
2.4%
|
2.3%
|
2.5%
|
|
Unemployment Rate (% of labor force)
|
5.0%
|
4.7%
|
4.5%
|
4.7%
|
4.7%
|
| |
|
|
|
|
|
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Other Indicators
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-37.6%
|
-30.2%
|
-12.1%
|
-18.1%
|
-3.0%
|
|
Multifamily Building Permits
|
4.9%
|
-8.9%
|
-15.3%
|
-15.8%
|
40.5%
|
|
Home Price Index
|
4.0%
|
5.1%
|
7.8%
|
6.6%
|
8.0%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.21
|
2.15
|
2.12
|
2.11
|
1.91
|
| |
|
|
|
|
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BANKING TRENDS
|
|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
110
|
112
|
111
|
112
|
110
|
|
Total Assets (in millions)
|
2,245,041
|
2,184,709
|
1,927,916
|
2,184,709
|
1,913,602
|
|
New Institutions (# < 3 years)
|
17
|
16
|
19
|
16
|
19
|
|
Subchapter S Institutions
|
2
|
2
|
2
|
2
|
2
|
| |
|
|
|
|
|
|
Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.13
|
1.44
|
0.96
|
1.44
|
1.06
|
|
ALLL/Total Loans (median %)
|
1.20
|
1.20
|
1.24
|
1.20
|
1.25
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.52
|
1.87
|
2.26
|
1.87
|
2.13
|
|
Net Loan Losses / Total Loans (median %)
|
0.03
|
0.10
|
0.01
|
0.08
|
0.07
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.94
|
9.65
|
9.58
|
9.65
|
9.56
|
|
Return on Assets (median %)
|
0.48
|
0.53
|
0.75
|
0.68
|
0.87
|
|
Pretax Return on Assets (median %)
|
0.65
|
0.74
|
1.16
|
1.03
|
1.29
|
|
Net Interest Margin (median %)
|
3.35
|
3.69
|
3.75
|
3.72
|
3.93
|
|
Yield on Earning Assets (median %)
|
6.74
|
7.37
|
7.36
|
7.44
|
7.25
|
|
Cost of Funding Earning Assets (median %)
|
3.38
|
3.62
|
3.54
|
3.57
|
3.17
|
|
Provisions to Avg. Assets (median %)
|
0.23
|
0.34
|
0.12
|
0.20
|
0.18
|
|
Noninterest Income to Avg. Assets (median %)
|
0.52
|
0.52
|
0.57
|
0.58
|
0.63
|
|
Overhead to Avg. Assets (median %)
|
2.78
|
2.80
|
2.80
|
2.85
|
2.84
|
| |
|
|
|
|
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
76.0
|
77.1
|
74.9
|
77.1
|
75.3
|
|
Noncore Funding to Assets (median %)
|
32.3
|
29.5
|
28.5
|
29.5
|
28.7
|
|
Long-term Assets to Assets (median %, call filers)
|
17.3
|
16.5
|
13.8
|
16.5
|
13.5
|
|
Brokered Deposits (number of institutions)
|
71
|
76
|
74
|
76
|
71
|
|
Brokered Deposits to Assets (median % for those above)
|
6.1
|
6.1
|
6.0
|
6.1
|
6.4
|
| |
|
|
|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
78.8
|
74.8
|
76.3
|
74.8
|
77.7
|
|
Commercial Real Estate
|
360.6
|
363.0
|
336.1
|
363.0
|
334.0
|
|
Construction & Development
|
165.3
|
160.5
|
136.5
|
160.5
|
133.5
|
|
Multifamily Residential Real Estate
|
10.8
|
10.9
|
9.3
|
10.9
|
9.7
|
|
Nonresidential Real Estate
|
171.6
|
167.2
|
167.9
|
167.2
|
172.3
|
|
Residential Real Estate
|
225.1
|
225.6
|
220.7
|
225.6
|
222.0
|
|
Consumer
|
14.6
|
14.7
|
15.3
|
14.7
|
15.3
|
|
Agriculture
|
2.5
|
2.8
|
2.2
|
2.8
|
1.6
|
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BANKING PROFILE
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