New Jersey - 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)
|
0.3%
|
0.0%
|
0.0%
|
0.1%
|
0.8%
|
|
Manufacturing (8%)
|
-2.2%
|
-2.9%
|
-3.8%
|
-3.4%
|
-2.0%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-1.3%
|
-1.7%
|
-2.4%
|
-2.0%
|
3.4%
|
|
Private Service-Producing (72%)
|
0.7%
|
0.5%
|
0.5%
|
0.6%
|
0.9%
|
|
Government (16%)
|
0.2%
|
0.1%
|
0.1%
|
0.1%
|
0.9%
|
|
Unemployment Rate (% of labor force)
|
4.7%
|
4.2%
|
4.3%
|
4.2%
|
4.7%
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|
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|
|
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Other Indicators
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-25.7%
|
-28.6%
|
-32.4%
|
-26.6%
|
-17.0%
|
|
Multifamily Building Permits
|
9.7%
|
-7.9%
|
-21.0%
|
-18.6%
|
-9.9%
|
|
Home Price Index
|
-1.2%
|
-0.1%
|
3.7%
|
1.5%
|
9.7%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.61
|
2.31
|
2.08
|
2.20
|
1.56
|
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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 (#)
|
125
|
127
|
128
|
127
|
131
|
|
Total Assets (in millions)
|
150,363
|
147,739
|
140,582
|
147,739
|
139,696
|
|
New Institutions (# < 3 years)
|
14
|
15
|
11
|
15
|
10
|
|
Subchapter S Institutions
|
7
|
7
|
7
|
7
|
6
|
| |
|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.26
|
1.12
|
0.85
|
1.12
|
0.91
|
|
ALLL/Total Loans (median %)
|
0.92
|
0.93
|
0.91
|
0.93
|
0.91
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.30
|
1.27
|
1.78
|
1.27
|
1.88
|
|
Net Loan Losses / Total Loans (median %)
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
| |
|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.74
|
9.82
|
10.15
|
9.82
|
9.65
|
|
Return on Assets (median %)
|
0.41
|
0.34
|
0.43
|
0.39
|
0.55
|
|
Pretax Return on Assets (median %)
|
0.50
|
0.47
|
0.59
|
0.49
|
0.78
|
|
Net Interest Margin (median %)
|
3.01
|
3.04
|
3.00
|
2.99
|
3.20
|
|
Yield on Earning Assets (median %)
|
6.00
|
6.27
|
6.23
|
6.14
|
5.97
|
|
Cost of Funding Earning Assets (median %)
|
3.05
|
3.27
|
3.15
|
3.20
|
2.78
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Provisions to Avg. Assets (median %)
|
0.06
|
0.06
|
0.04
|
0.06
|
0.06
|
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Noninterest Income to Avg. Assets (median %)
|
0.24
|
0.27
|
0.28
|
0.26
|
0.27
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Overhead to Avg. Assets (median %)
|
2.65
|
2.63
|
2.62
|
2.68
|
2.59
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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 %)
|
69.4
|
68.7
|
66.5
|
68.7
|
68.0
|
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Noncore Funding to Assets (median %)
|
22.9
|
22.5
|
19.3
|
22.5
|
22.5
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Long-term Assets to Assets (median %, call filers)
|
32.7
|
30.9
|
28.6
|
30.9
|
28.0
|
|
Brokered Deposits (number of institutions)
|
39
|
35
|
35
|
35
|
35
|
|
Brokered Deposits to Assets (median % for those above)
|
2.8
|
2.7
|
2.6
|
2.7
|
3.6
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
34.4
|
33.7
|
29.7
|
33.7
|
28.1
|
|
Commercial Real Estate
|
222.1
|
231.7
|
241.1
|
231.7
|
240.7
|
|
Construction & Development
|
40.4
|
37.4
|
37.2
|
37.4
|
36.2
|
|
Multifamily Residential Real Estate
|
9.4
|
9.1
|
8.8
|
9.1
|
8.8
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|
Nonresidential Real Estate
|
142.7
|
136.1
|
138.7
|
136.1
|
137.5
|
|
Residential Real Estate
|
238.7
|
242.0
|
243.2
|
242.0
|
245.4
|
|
Consumer
|
2.7
|
2.8
|
2.5
|
2.8
|
2.1
|
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Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
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BANKING PROFILE
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