Pennsylvania - 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)
|
0.4%
|
0.4%
|
0.8%
|
0.7%
|
0.9%
|
|
Manufacturing (11%)
|
-2.2%
|
-2.2%
|
-1.6%
|
-1.9%
|
-1.3%
|
|
Other (non-manufacturing) Goods-Producing (5%)
|
0.3%
|
1.5%
|
0.2%
|
1.0%
|
2.1%
|
|
Private Service-Producing (71%)
|
1.0%
|
1.0%
|
1.4%
|
1.2%
|
1.4%
|
|
Government (13%)
|
-0.2%
|
-0.4%
|
0.1%
|
-0.2%
|
0.1%
|
|
Unemployment Rate (% of labor force)
|
4.9%
|
4.4%
|
4.3%
|
4.3%
|
4.6%
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|
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|
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Other Indicators
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Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-23.6%
|
-22.8%
|
-28.6%
|
-15.4%
|
-8.8%
|
|
Multifamily Building Permits
|
-37.5%
|
-39.7%
|
-24.2%
|
-16.3%
|
-13.8%
|
|
Home Price Index
|
2.4%
|
2.9%
|
5.7%
|
4.3%
|
9.0%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.50
|
2.28
|
2.30
|
2.33
|
1.87
|
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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 (#)
|
246
|
246
|
252
|
246
|
251
|
|
Total Assets (in millions)
|
489,208
|
478,761
|
407,430
|
478,761
|
415,046
|
|
New Institutions (# < 3 years)
|
17
|
16
|
17
|
16
|
16
|
|
Subchapter S Institutions
|
3
|
3
|
5
|
3
|
6
|
| |
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.52
|
1.54
|
1.23
|
1.54
|
1.24
|
|
ALLL/Total Loans (median %)
|
0.98
|
0.99
|
1.01
|
0.99
|
1.01
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.27
|
1.37
|
1.51
|
1.37
|
1.71
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|
Net Loan Losses / Total Loans (median %)
|
0.01
|
0.03
|
0.00
|
0.04
|
0.03
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| |
|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.66
|
9.80
|
9.80
|
9.80
|
9.52
|
|
Return on Assets (median %)
|
0.55
|
0.56
|
0.58
|
0.56
|
0.67
|
|
Pretax Return on Assets (median %)
|
0.74
|
0.70
|
0.80
|
0.73
|
0.92
|
|
Net Interest Margin (median %)
|
3.17
|
3.18
|
3.13
|
3.16
|
3.22
|
|
Yield on Earning Assets (median %)
|
6.08
|
6.34
|
6.18
|
6.23
|
6.03
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|
Cost of Funding Earning Assets (median %)
|
2.95
|
3.24
|
3.15
|
3.19
|
2.89
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Provisions to Avg. Assets (median %)
|
0.08
|
0.09
|
0.05
|
0.08
|
0.07
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Noninterest Income to Avg. Assets (median %)
|
0.46
|
0.46
|
0.43
|
0.46
|
0.45
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Overhead to Avg. Assets (median %)
|
2.63
|
2.67
|
2.63
|
2.64
|
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 %)
|
66.9
|
66.9
|
65.3
|
66.9
|
65.3
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|
Noncore Funding to Assets (median %)
|
23.2
|
22.9
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19.7
|
22.9
|
21.2
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Long-term Assets to Assets (median %, call filers)
|
39.4
|
39.5
|
37.9
|
39.5
|
38.3
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Brokered Deposits (number of institutions)
|
73
|
70
|
74
|
70
|
75
|
|
Brokered Deposits to Assets (median % for those above)
|
1.8
|
1.8
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1.9
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1.8
|
1.5
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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
|
53.2
|
53.7
|
51.7
|
53.7
|
48.6
|
|
Commercial Real Estate
|
179.2
|
180.3
|
175.8
|
180.3
|
178.1
|
|
Construction & Development
|
23.1
|
22.5
|
18.6
|
22.5
|
19.8
|
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Multifamily Residential Real Estate
|
8.7
|
8.5
|
7.8
|
8.5
|
7.0
|
|
Nonresidential Real Estate
|
132.5
|
130.9
|
126.1
|
130.9
|
126.5
|
|
Residential Real Estate
|
312.0
|
314.9
|
305.1
|
314.9
|
310.4
|
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Consumer
|
14.6
|
14.2
|
14.2
|
14.2
|
15.4
|
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Agriculture
|
1.0
|
1.0
|
0.8
|
1.0
|
0.7
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BANKING PROFILE
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