South Carolina - First Quarter 2008
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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Employment Growth Rates
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Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
1.0%
|
1.6%
|
2.2%
|
2.3%
|
2.2%
|
|
Manufacturing (13%)
|
-1.2%
|
-1.0%
|
-1.2%
|
-1.0%
|
-3.2%
|
|
Other (non-manufacturing) Goods-Producing (7%)
|
-2.4%
|
0.8%
|
3.4%
|
2.1%
|
6.3%
|
|
Private Service-Producing (63%)
|
1.7%
|
2.2%
|
3.1%
|
3.1%
|
3.3%
|
|
Government (17%)
|
1.6%
|
1.8%
|
1.1%
|
2.0%
|
0.9%
|
|
Unemployment Rate (% of labor force)
|
5.8%
|
6.1%
|
5.8%
|
5.9%
|
6.4%
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|
|
|
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Other Indicators
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-38.9%
|
-29.2%
|
-21.7%
|
-23.7%
|
-6.3%
|
|
Multifamily Building Permits
|
2.5%
|
8.9%
|
-48.9%
|
-14.2%
|
-8.8%
|
|
Home Price Index
|
3.8%
|
4.2%
|
7.2%
|
5.7%
|
8.0%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.67
|
1.66
|
1.59
|
1.62
|
1.41
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|
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BANKING TRENDS
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|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
93
|
93
|
95
|
93
|
95
|
|
Total Assets (in millions)
|
54,503
|
52,953
|
46,864
|
52,953
|
45,464
|
|
New Institutions (# < 3 years)
|
13
|
14
|
14
|
14
|
12
|
|
Subchapter S Institutions
|
5
|
5
|
5
|
5
|
5
|
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|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.06
|
1.53
|
1.29
|
1.53
|
1.16
|
|
ALLL/Total Loans (median %)
|
1.21
|
1.17
|
1.21
|
1.17
|
1.19
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.24
|
1.64
|
2.84
|
1.64
|
2.67
|
|
Net Loan Losses / Total Loans (median %)
|
0.04
|
0.08
|
0.02
|
0.08
|
0.05
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|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.62
|
9.71
|
9.94
|
9.71
|
9.87
|
|
Return on Assets (median %)
|
0.64
|
0.60
|
0.91
|
0.84
|
1.03
|
|
Pretax Return on Assets (median %)
|
0.88
|
0.96
|
1.13
|
1.25
|
1.48
|
|
Net Interest Margin (median %)
|
3.54
|
3.89
|
3.98
|
3.97
|
4.09
|
|
Yield on Earning Assets (median %)
|
6.76
|
7.33
|
7.23
|
7.36
|
6.89
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|
Cost of Funding Earning Assets (median %)
|
3.29
|
3.57
|
3.37
|
3.53
|
2.81
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Provisions to Avg. Assets (median %)
|
0.18
|
0.18
|
0.15
|
0.19
|
0.17
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Noninterest Income to Avg. Assets (median %)
|
0.68
|
0.61
|
0.68
|
0.69
|
0.69
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Overhead to Avg. Assets (median %)
|
3.01
|
3.12
|
3.04
|
3.10
|
2.99
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|
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
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2007
|
2006
|
|
Loans to Assets (median %)
|
75.5
|
75.9
|
73.4
|
75.9
|
71.9
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Noncore Funding to Assets (median %)
|
30.6
|
28.4
|
26.6
|
28.4
|
27.5
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Long-term Assets to Assets (median %, call filers)
|
15.7
|
14.4
|
11.9
|
14.4
|
11.2
|
|
Brokered Deposits (number of institutions)
|
46
|
45
|
42
|
45
|
44
|
|
Brokered Deposits to Assets (median % for those above)
|
11.4
|
9.1
|
9.1
|
9.1
|
7.7
|
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|
|
|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
75.0
|
71.6
|
57.6
|
71.6
|
60.9
|
|
Commercial Real Estate
|
354.2
|
349.8
|
325.8
|
349.8
|
309.5
|
|
Construction & Development
|
141.9
|
130.9
|
116.6
|
130.9
|
119.9
|
|
Multifamily Residential Real Estate
|
5.8
|
4.8
|
4.9
|
4.8
|
4.3
|
|
Nonresidential Real Estate
|
168.2
|
167.0
|
156.0
|
167.0
|
163.2
|
|
Residential Real Estate
|
215.7
|
200.4
|
193.8
|
200.4
|
196.8
|
|
Consumer
|
28.7
|
26.8
|
30.9
|
26.8
|
30.5
|
|
Agriculture
|
3.5
|
3.2
|
2.8
|
3.2
|
3.1
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BANKING PROFILE
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