Vermont - 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
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Q4-07
|
Q1-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
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0.1%
|
-0.2%
|
0.1%
|
0.0%
|
0.7%
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Manufacturing (12%)
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-1.2%
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-1.5%
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-0.2%
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-0.8%
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-1.6%
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Other (non-manufacturing) Goods-Producing (6%)
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-4.3%
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-4.6%
|
-0.6%
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-3.2%
|
3.1%
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Private Service-Producing (65%)
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0.7%
|
0.5%
|
0.1%
|
0.3%
|
0.8%
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Government (18%)
|
0.2%
|
-0.1%
|
0.7%
|
0.6%
|
1.2%
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Unemployment Rate (% of labor force)
|
4.4%
|
3.9%
|
4.0%
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3.9%
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3.7%
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Other Indicators
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Q1-08
|
Q4-07
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Q1-07
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2007
|
2006
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|
Single-Family Home Permits
|
-32.8%
|
-29.7%
|
-28.2%
|
-31.5%
|
-7.9%
|
|
Multifamily Building Permits
|
-68.6%
|
-58.2%
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-39.0%
|
-25.5%
|
13.7%
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Home Price Index
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1.8%
|
2.4%
|
6.4%
|
4.0%
|
9.4%
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|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.76
|
1.42
|
1.07
|
1.34
|
1.00
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BANKING TRENDS
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General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
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|
Institutions (#)
|
15
|
16
|
19
|
16
|
19
|
|
Total Assets (in millions)
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8,533
|
8,244
|
8,608
|
8,244
|
8,610
|
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New Institutions (# < 3 years)
|
0
|
0
|
0
|
0
|
0
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|
Subchapter S Institutions
|
0
|
0
|
0
|
0
|
0
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|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.29
|
2.06
|
1.42
|
2.06
|
1.41
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|
ALLL/Total Loans (median %)
|
1.17
|
1.10
|
1.15
|
1.10
|
1.11
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ALLL/Noncurrent Loans (median multiple)
|
1.18
|
1.65
|
1.67
|
1.65
|
2.19
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|
Net Loan Losses / Total Loans (median %)
|
0.04
|
0.06
|
0.01
|
0.05
|
0.02
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
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Tier 1 Leverage (median %)
|
9.03
|
9.12
|
9.02
|
9.12
|
8.82
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Return on Assets (median %)
|
0.66
|
0.83
|
0.66
|
0.80
|
0.83
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Pretax Return on Assets (median %)
|
0.93
|
1.11
|
0.94
|
0.95
|
1.06
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Net Interest Margin (median %)
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4.20
|
4.23
|
4.08
|
4.16
|
4.36
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Yield on Earning Assets (median %)
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6.88
|
6.94
|
6.76
|
6.91
|
6.59
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Cost of Funding Earning Assets (median %)
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2.26
|
2.44
|
2.34
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2.41
|
2.08
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Provisions to Avg. Assets (median %)
|
0.06
|
0.05
|
0.04
|
0.06
|
0.06
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Noninterest Income to Avg. Assets (median %)
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0.79
|
0.81
|
0.73
|
0.78
|
0.86
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Overhead to Avg. Assets (median %)
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3.92
|
3.70
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3.73
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3.77
|
3.62
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Liquidity / Sensitivity
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Q1-08
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Q4-07
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Q1-07
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2007
|
2006
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Loans to Assets (median %)
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74.9
|
73.9
|
73.1
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73.9
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72.2
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Noncore Funding to Assets (median %)
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19.0
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17.8
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16.7
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17.8
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16.1
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Long-term Assets to Assets (median %, call filers)
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34.0
|
29.3
|
24.3
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29.3
|
23.9
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Brokered Deposits (number of institutions)
|
7
|
9
|
10
|
9
|
11
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Brokered Deposits to Assets (median % for those above)
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1.9
|
0.6
|
1.1
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0.6
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1.5
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Loan Concentrations (median % of Tier 1 Capital)
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Q1-08
|
Q4-07
|
Q1-07
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2007
|
2006
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Commercial and Industrial
|
74.4
|
67.6
|
68.1
|
67.6
|
67.8
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Commercial Real Estate
|
263.1
|
248.1
|
258.6
|
248.1
|
248.7
|
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Construction & Development
|
37.3
|
37.7
|
35.8
|
37.7
|
36.9
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Multifamily Residential Real Estate
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26.8
|
18.5
|
14.7
|
18.5
|
15.7
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Nonresidential Real Estate
|
225.6
|
201.5
|
197.8
|
201.5
|
206.6
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Residential Real Estate
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403.7
|
381.6
|
356.8
|
381.6
|
349.8
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Consumer
|
27.6
|
23.6
|
22.9
|
23.6
|
26.8
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Agriculture
|
4.5
|
4.8
|
5.6
|
4.8
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5.8
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BANKING PROFILE
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