Michigan at a Glance
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-5.6%
|
-7.5%
|
-3.8%
|
-6.9%
|
-2.5%
|
|
Manufacturing (12%)
|
-17.4%
|
-19.4%
|
-9.3%
|
-19.4%
|
-7.3%
|
|
Other (non-manufacturing) Goods-Producing (3%)
|
-15.0%
|
-18.1%
|
-10.1%
|
-16.6%
|
-7.5%
|
|
Private Service-Producing (68%)
|
-3.9%
|
-5.8%
|
-3.1%
|
-5.2%
|
-1.5%
|
|
Government (17%)
|
-0.9%
|
-1.2%
|
-0.4%
|
-0.5%
|
-0.9%
|
|
Unemployment Rate (% of labor force)
|
14.4%
|
14.3%
|
10.0%
|
13.6%
|
8.3%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Single-Family Home Permits
|
-3.7%
|
-10.9%
|
-44.1%
|
-29.3%
|
-44.9%
|
|
Multifamily Building Permits
|
-61.7%
|
-74.5%
|
-1.4%
|
-67.7%
|
-26.0%
|
|
Home Price Index
|
-7.6%
|
-6.0%
|
-6.6%
|
-5.8%
|
-5.5%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
6.40
|
6.69
|
5.46
|
6.76
|
5.36
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Institutions (#)
|
146
|
148
|
159
|
146
|
159
|
|
Total Assets (in millions)
|
71,754
|
74,073
|
128,978
|
71,754
|
128,978
|
|
New Institutions (# < 3 years)
|
6
|
5
|
5
|
6
|
5
|
|
Subchapter S Institutions
|
18
|
18
|
18
|
18
|
18
|
| |
|
|
|
|
|
|
Asset Quality
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
4.91
|
4.66
|
4.59
|
4.91
|
4.59
|
|
Noncurrent Loans / Total Loans (median %)
|
2.90
|
2.80
|
2.45
|
2.90
|
2.45
|
|
ALLL/Total Loans (median %)
|
1.63
|
1.48
|
1.36
|
1.63
|
1.36
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.60
|
0.58
|
0.65
|
0.60
|
0.65
|
|
Net Loan Losses / Total Loans (median %)
|
1.05
|
0.64
|
0.87
|
0.70
|
0.59
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Tier 1 Leverage (median %)
|
8.85
|
8.99
|
8.84
|
8.85
|
8.84
|
|
Return on Assets (median %)
|
0.15
|
0.23
|
-0.23
|
0.21
|
0.21
|
|
Pretax Return on Assets (median %)
|
0.09
|
0.32
|
-0.33
|
0.26
|
0.22
|
|
Net Interest Margin (median %)
|
3.82
|
3.73
|
3.74
|
3.77
|
3.72
|
|
Yield on Earning Assets (median %)
|
5.53
|
5.55
|
5.97
|
5.57
|
6.24
|
|
Cost of Funding Earning Assets (median %)
|
1.65
|
1.78
|
2.32
|
1.86
|
2.56
|
|
Provisions to Avg. Assets (median %)
|
1.00
|
0.69
|
0.95
|
0.76
|
0.68
|
|
Noninterest Income to Avg. Assets (median %)
|
0.58
|
0.68
|
0.52
|
0.66
|
0.56
|
|
Overhead to Avg. Assets (median %)
|
3.32
|
3.29
|
3.34
|
3.33
|
3.20
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Net Loans to Assets (median %)
|
72.3
|
70.2
|
75.3
|
72.3
|
75.3
|
|
Noncore Funding to Assets (median %)
|
22.9
|
22.9
|
26.1
|
22.9
|
26.1
|
|
Long-term Assets to Assets (median %, call filers)
|
15.1
|
15.9
|
14.7
|
15.1
|
14.7
|
|
Brokered Deposits (number of institutions)
|
71
|
71
|
86
|
71
|
86
|
|
Brokered Deposits to Assets (median % for those above)
|
8.8
|
9.1
|
10.3
|
8.8
|
10.3
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Total Risk-Based Capital)
|
Q4-09
|
Q3-09
|
Q4-08
|
2009
|
2008
|
|
Commercial and Industrial
|
87.4
|
84.4
|
89.8
|
87.4
|
89.8
|
|
Commercial Real Estate
|
294.9
|
290.1
|
285.2
|
294.9
|
285.2
|
|
Construction & Development
|
34.6
|
35.9
|
45.4
|
34.6
|
45.4
|
|
Multifamily Residential Real Estate
|
10.5
|
10.1
|
8.7
|
10.5
|
8.7
|
|
Nonresidential Real Estate
|
234.0
|
231.7
|
229.7
|
234.0
|
229.7
|
|
Residential Real Estate
|
240.9
|
244.4
|
240.8
|
240.9
|
240.8
|
|
Consumer
|
21.1
|
20.8
|
21.7
|
21.1
|
21.7
|
|
Agriculture
|
3.7
|
3.2
|
3.6
|
3.7
|
3.6
|
| |
|
|
|
|
|
|
BANKING PROFILE
|
