Massachusetts at a Glance
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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Employment Growth Rates
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Q2-09
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Q1-09
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Q2-08
|
2008
|
2007
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|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-3.4%
|
-2.6%
|
0.6%
|
0.1%
|
1.1%
|
|
Manufacturing (9%)
|
-5.4%
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-4.5%
|
-2.5%
|
-2.9%
|
-1.6%
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|
Other (non-manufacturing) Goods-Producing (4%)
|
-14.7%
|
-12.2%
|
-2.5%
|
-4.2%
|
-2.6%
|
|
Private Service-Producing (74%)
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-3.0%
|
-2.5%
|
1.2%
|
0.6%
|
1.7%
|
|
Government (14%)
|
-0.3%
|
0.5%
|
0.9%
|
1.0%
|
0.9%
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Unemployment Rate (% of labor force)
|
8.3%
|
7.6%
|
4.9%
|
5.3%
|
4.5%
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|
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Other Indicators
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Q2-09
|
Q1-09
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Q2-08
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2008
|
2007
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|
Single-Family Home Permits
|
-26.7%
|
-33.0%
|
-39.2%
|
-41.1%
|
-23.6%
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|
Multifamily Building Permits
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-85.7%
|
19.1%
|
74.8%
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-21.3%
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-35.5%
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Home Price Index
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-3.5%
|
-3.9%
|
-4.0%
|
-3.8%
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-2.6%
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|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.34
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2.69
|
2.51
|
2.48
|
2.07
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BANKING TRENDS
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General Information
|
Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
|
|
Institutions (#)
|
172
|
173
|
180
|
175
|
181
|
|
Total Assets (in millions)
|
248,561
|
239,640
|
247,259
|
268,595
|
238,037
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New Institutions (# < 3 years)
|
2
|
3
|
3
|
3
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2
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Subchapter S Institutions
|
4
|
4
|
4
|
4
|
4
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|
|
|
|
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Asset Quality
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Q2-09
|
Q1-09
|
Q2-08
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2008
|
2007
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|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.99
|
1.97
|
1.17
|
1.73
|
1.22
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|
Noncurrent Loans / Total Loans (median %)
|
1.01
|
0.93
|
0.48
|
0.69
|
0.30
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ALLL/Total Loans (median %)
|
0.98
|
0.98
|
0.86
|
0.94
|
0.85
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ALLL/Noncurrent Loans (median multiple)
|
0.79
|
0.89
|
1.46
|
1.05
|
2.35
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Net Loan Losses / Total Loans (median %)
|
0.07
|
0.03
|
0.01
|
0.07
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0.02
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Capital / Earnings
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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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Tier 1 Leverage (median %)
|
9.20
|
9.30
|
9.69
|
9.34
|
9.79
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Return on Assets (median %)
|
0.32
|
0.37
|
0.42
|
0.18
|
0.40
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Pretax Return on Assets (median %)
|
0.44
|
0.56
|
0.56
|
0.27
|
0.57
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Net Interest Margin (median %)
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3.15
|
3.13
|
3.03
|
3.12
|
3.01
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Yield on Earning Assets (median %)
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5.22
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5.39
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5.71
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5.80
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6.08
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Cost of Funding Earning Assets (median %)
|
2.04
|
2.19
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2.63
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2.59
|
3.08
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Provisions to Avg. Assets (median %)
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0.13
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0.12
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0.06
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0.14
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0.04
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Noninterest Income to Avg. Assets (median %)
|
0.55
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0.48
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0.43
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0.43
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0.46
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Overhead to Avg. Assets (median %)
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2.95
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2.78
|
2.68
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2.72
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2.68
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Liquidity / Sensitivity
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Q2-09
|
Q1-09
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Q2-08
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2008
|
2007
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Net Loans to Assets (median %)
|
70.2
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69.9
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69.5
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71.5
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70.1
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Noncore Funding to Assets (median %)
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27.9
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29.1
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29.4
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30.9
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27.8
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Long-term Assets to Assets (median %, call filers)
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37.2
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36.8
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37.2
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37.4
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35.3
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Brokered Deposits (number of institutions)
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48
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48
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44
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49
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46
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Brokered Deposits to Assets (median % for those above)
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1.5
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2.0
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1.6
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2.1
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1.9
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Loan Concentrations (median % of Total Risk-Based Capital)
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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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Commercial and Industrial
|
26.4
|
26.9
|
24.7
|
28.9
|
22.5
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Commercial Real Estate
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200.3
|
195.8
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171.9
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193.8
|
164.4
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Construction & Development
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32.4
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33.7
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36.3
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36.4
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35.7
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Multifamily Residential Real Estate
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15.5
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15.8
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14.6
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15.7
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13.6
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Nonresidential Real Estate
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118.8
|
120.2
|
106.9
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121.2
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100.2
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Residential Real Estate
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430.1
|
434.2
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408.6
|
438.0
|
391.9
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Consumer
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4.6
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4.8
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5.3
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4.9
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5.5
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Agriculture
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0.0
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0.0
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0.0
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0.0
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0.0
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BANKING PROFILE
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