Utah - 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)
|
2.4%
|
3.0%
|
4.8%
|
4.0%
|
4.9%
|
|
Manufacturing (10%)
|
2.3%
|
2.7%
|
4.2%
|
3.6%
|
4.2%
|
|
Other (non-manufacturing) Goods-Producing (9%)
|
0.1%
|
5.0%
|
14.7%
|
9.6%
|
16.8%
|
|
Private Service-Producing (64%)
|
2.9%
|
3.3%
|
4.7%
|
4.0%
|
4.5%
|
|
Government (16%)
|
1.4%
|
1.2%
|
0.9%
|
1.0%
|
1.1%
|
|
Unemployment Rate (% of labor force)
|
3.1%
|
2.8%
|
2.4%
|
2.7%
|
3.0%
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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
|
-61.0%
|
-51.7%
|
-14.7%
|
-25.7%
|
-7.4%
|
|
Multifamily Building Permits
|
-15.8%
|
-24.8%
|
17.5%
|
-2.0%
|
-6.1%
|
|
Home Price Index
|
5.6%
|
9.3%
|
17.4%
|
13.5%
|
16.2%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.87
|
2.44
|
2.13
|
2.37
|
2.02
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BANKING TRENDS
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|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
69
|
67
|
70
|
67
|
69
|
|
Total Assets (in millions)
|
368,709
|
365,622
|
299,185
|
365,622
|
292,368
|
|
New Institutions (# < 3 years)
|
8
|
6
|
10
|
6
|
9
|
|
Subchapter S Institutions
|
11
|
10
|
10
|
10
|
10
|
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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 %)
|
3.14
|
2.76
|
1.57
|
2.76
|
1.75
|
|
ALLL/Total Loans (median %)
|
1.52
|
1.43
|
1.24
|
1.43
|
1.26
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.20
|
1.59
|
1.93
|
1.59
|
1.68
|
|
Net Loan Losses / Total Loans (median %)
|
0.21
|
0.26
|
0.01
|
0.12
|
0.06
|
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|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
12.67
|
11.87
|
12.57
|
11.87
|
12.55
|
|
Return on Assets (median %)
|
1.25
|
1.35
|
2.11
|
1.75
|
2.21
|
|
Pretax Return on Assets (median %)
|
1.86
|
1.95
|
3.14
|
2.59
|
3.08
|
|
Net Interest Margin (median %)
|
4.79
|
5.48
|
6.11
|
6.12
|
6.25
|
|
Yield on Earning Assets (median %)
|
7.81
|
8.49
|
8.83
|
8.60
|
8.47
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|
Cost of Funding Earning Assets (median %)
|
2.94
|
3.29
|
3.37
|
3.33
|
2.98
|
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Provisions to Avg. Assets (median %)
|
0.43
|
0.45
|
0.14
|
0.28
|
0.25
|
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Noninterest Income to Avg. Assets (median %)
|
0.63
|
0.70
|
0.71
|
0.67
|
0.78
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|
Overhead to Avg. Assets (median %)
|
3.17
|
3.30
|
3.29
|
3.24
|
3.32
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
78.1
|
79.8
|
76.8
|
79.8
|
77.5
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Noncore Funding to Assets (median %)
|
29.8
|
27.0
|
24.8
|
27.0
|
28.8
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Long-term Assets to Assets (median %, call filers)
|
4.1
|
3.9
|
3.4
|
3.9
|
3.2
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|
Brokered Deposits (number of institutions)
|
50
|
50
|
47
|
50
|
44
|
|
Brokered Deposits to Assets (median % for those above)
|
29.7
|
25.8
|
30.0
|
25.8
|
37.4
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
79.1
|
69.4
|
60.2
|
69.4
|
57.7
|
|
Commercial Real Estate
|
46.7
|
94.5
|
51.2
|
94.5
|
56.9
|
|
Construction & Development
|
21.6
|
24.6
|
8.6
|
24.6
|
7.0
|
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Multifamily Residential Real Estate
|
0.1
|
0.1
|
0.0
|
0.1
|
0.0
|
|
Nonresidential Real Estate
|
21.9
|
28.9
|
18.8
|
28.9
|
22.4
|
|
Residential Real Estate
|
15.5
|
20.3
|
10.7
|
20.3
|
13.5
|
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Consumer
|
8.3
|
11.1
|
11.8
|
11.1
|
11.4
|
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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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