New Mexico - 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)
|
0.6%
|
1.0%
|
1.8%
|
1.3%
|
2.9%
|
|
Manufacturing (4%)
|
-6.2%
|
-3.9%
|
1.4%
|
-1.5%
|
4.3%
|
|
Other (non-manufacturing) Goods-Producing (9%)
|
-0.7%
|
-0.3%
|
1.6%
|
0.7%
|
9.1%
|
|
Private Service-Producing (63%)
|
1.3%
|
1.6%
|
4.4%
|
2.7%
|
3.8%
|
|
Government (23%)
|
0.7%
|
0.9%
|
-4.3%
|
-1.4%
|
-1.8%
|
|
Unemployment Rate (% of labor force)
|
3.3%
|
3.3%
|
3.8%
|
3.5%
|
4.3%
|
| |
|
|
|
|
|
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Other Indicators
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-38.5%
|
-37.1%
|
-34.3%
|
-27.4%
|
-13.8%
|
|
Multifamily Building Permits
|
223.3%
|
-49.3%
|
-54.5%
|
-25.3%
|
23.8%
|
|
Home Price Index
|
3.4%
|
5.3%
|
11.4%
|
8.0%
|
14.1%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.92
|
1.75
|
1.60
|
1.66
|
1.25
|
| |
|
|
|
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BANKING TRENDS
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|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
54
|
53
|
53
|
53
|
54
|
|
Total Assets (in millions)
|
19,510
|
18,733
|
17,804
|
18,733
|
17,749
|
|
New Institutions (# < 3 years)
|
1
|
0
|
0
|
0
|
0
|
|
Subchapter S Institutions
|
28
|
28
|
28
|
28
|
28
|
| |
|
|
|
|
|
|
Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.56
|
1.33
|
1.37
|
1.33
|
1.05
|
|
ALLL/Total Loans (median %)
|
1.34
|
1.30
|
1.35
|
1.30
|
1.32
|
|
ALLL/Noncurrent Loans (median multiple)
|
2.02
|
2.93
|
3.06
|
2.93
|
3.12
|
|
Net Loan Losses / Total Loans (median %)
|
0.03
|
0.10
|
0.01
|
0.07
|
0.06
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
8.68
|
8.38
|
8.66
|
8.38
|
8.90
|
|
Return on Assets (median %)
|
1.12
|
1.21
|
1.19
|
1.18
|
1.34
|
|
Pretax Return on Assets (median %)
|
1.74
|
1.55
|
1.54
|
1.51
|
1.62
|
|
Net Interest Margin (median %)
|
4.46
|
4.74
|
4.75
|
4.82
|
4.99
|
|
Yield on Earning Assets (median %)
|
6.88
|
7.35
|
7.33
|
7.41
|
7.09
|
|
Cost of Funding Earning Assets (median %)
|
2.30
|
2.54
|
2.39
|
2.55
|
2.15
|
|
Provisions to Avg. Assets (median %)
|
0.06
|
0.09
|
0.06
|
0.08
|
0.12
|
|
Noninterest Income to Avg. Assets (median %)
|
0.71
|
0.77
|
0.74
|
0.73
|
0.80
|
|
Overhead to Avg. Assets (median %)
|
3.17
|
3.37
|
3.32
|
3.26
|
3.43
|
| |
|
|
|
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
63.1
|
64.7
|
62.7
|
64.7
|
62.7
|
|
Noncore Funding to Assets (median %)
|
21.8
|
20.2
|
18.9
|
20.2
|
19.0
|
|
Long-term Assets to Assets (median %, call filers)
|
20.0
|
18.0
|
16.5
|
18.0
|
16.4
|
|
Brokered Deposits (number of institutions)
|
13
|
11
|
9
|
11
|
8
|
|
Brokered Deposits to Assets (median % for those above)
|
3.3
|
3.4
|
3.7
|
3.4
|
3.5
|
| |
|
|
|
|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
101.8
|
101.3
|
107.3
|
101.3
|
93.1
|
|
Commercial Real Estate
|
296.6
|
303.3
|
248.3
|
303.3
|
291.9
|
|
Construction & Development
|
83.8
|
91.2
|
66.7
|
91.2
|
68.7
|
|
Multifamily Residential Real Estate
|
6.9
|
8.1
|
7.9
|
8.1
|
7.4
|
|
Nonresidential Real Estate
|
168.2
|
171.4
|
172.2
|
171.4
|
172.2
|
|
Residential Real Estate
|
111.0
|
111.5
|
113.4
|
111.5
|
112.2
|
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Consumer
|
28.2
|
28.6
|
27.5
|
28.6
|
28.3
|
|
Agriculture
|
14.1
|
12.2
|
16.7
|
12.2
|
15.5
|
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BANKING PROFILE
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