Puerto Rico and the U.S. Virgin Islands - First Quarter 2008
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-1.4%
|
-2.0%
|
-2.0%
|
-1.4%
|
-0.4%
|
|
Manufacturing (10%)
|
-4.0%
|
-3.9%
|
-4.0%
|
-3.3%
|
-4.8%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
-0.5%
|
-2.3%
|
-3.5%
|
-3.7%
|
4.1%
|
|
Private Service-Producing (54%)
|
-1.3%
|
-2.1%
|
-1.6%
|
-1.0%
|
0.5%
|
|
Government (29%)
|
-0.6%
|
-1.0%
|
-1.8%
|
-1.0%
|
-1.4%
|
|
Unemployment Rate (% of labor force)
|
10.6%
|
11.3%
|
10.4%
|
10.9%
|
10.4%
|
| |
|
|
|
|
|
|
Other Indicators
|
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
12
|
13
|
13
|
13
|
13
|
|
Total Assets (in millions)
|
101,305
|
101,019
|
99,683
|
101,019
|
98,985
|
|
New Institutions (# < 3 years)
|
1
|
1
|
1
|
1
|
1
|
|
Subchapter S Institutions
|
1
|
1
|
1
|
1
|
1
|
| |
|
|
|
|
|
|
Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
7.92
|
6.86
|
6.19
|
6.86
|
5.60
|
|
ALLL/Total Loans (median %)
|
1.50
|
1.46
|
1.22
|
1.46
|
1.30
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.35
|
0.33
|
0.44
|
0.33
|
0.47
|
|
Net Loan Losses / Total Loans (median %)
|
0.67
|
0.76
|
0.34
|
0.77
|
0.36
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
7.07
|
6.84
|
7.33
|
6.84
|
7.15
|
|
Return on Assets (median %)
|
0.62
|
0.42
|
0.48
|
0.20
|
0.42
|
|
Pretax Return on Assets (median %)
|
0.66
|
0.35
|
0.60
|
0.17
|
0.62
|
|
Net Interest Margin (median %)
|
2.86
|
2.84
|
2.96
|
2.86
|
2.81
|
|
Yield on Earning Assets (median %)
|
6.30
|
6.66
|
6.73
|
6.77
|
6.53
|
|
Cost of Funding Earning Assets (median %)
|
3.60
|
3.83
|
3.95
|
3.95
|
3.72
|
|
Provisions to Avg. Assets (median %)
|
0.80
|
0.89
|
0.37
|
0.84
|
0.39
|
|
Noninterest Income to Avg. Assets (median %)
|
0.50
|
0.36
|
0.32
|
0.44
|
0.34
|
|
Overhead to Avg. Assets (median %)
|
2.02
|
2.03
|
1.96
|
2.18
|
1.77
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
65.3
|
66.3
|
62.3
|
66.3
|
61.7
|
|
Noncore Funding to Assets (median %)
|
63.2
|
60.4
|
60.4
|
60.4
|
62.0
|
|
Long-term Assets to Assets (median %, call filers)
|
28.4
|
24.9
|
37.6
|
24.9
|
38.3
|
|
Brokered Deposits (number of institutions)
|
11
|
11
|
10
|
11
|
10
|
|
Brokered Deposits to Assets (median % for those above)
|
23.8
|
24.2
|
23.0
|
24.2
|
22.1
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
104.2
|
129.0
|
109.9
|
129.0
|
108.0
|
|
Commercial Real Estate
|
250.7
|
252.8
|
214.5
|
252.8
|
211.5
|
|
Construction & Development
|
97.7
|
95.6
|
88.3
|
95.6
|
80.9
|
|
Multifamily Residential Real Estate
|
0.5
|
0.0
|
1.0
|
0.0
|
1.0
|
|
Nonresidential Real Estate
|
165.8
|
160.6
|
137.9
|
160.6
|
131.5
|
|
Residential Real Estate
|
263.9
|
282.7
|
240.3
|
282.7
|
247.6
|
|
Consumer
|
39.7
|
49.1
|
33.6
|
49.1
|
34.6
|
|
Agriculture
|
2.4
|
0.1
|
0.1
|
0.1
|
0.1
|
| |
|
|
|
|
|
|
BANKING PROFILE
|