Virginia - 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)
|
0.5%
|
0.7%
|
1.1%
|
0.9%
|
1.7%
|
|
Manufacturing (7%)
|
-2.9%
|
-2.7%
|
-3.5%
|
-3.3%
|
-2.6%
|
|
Other (non-manufacturing) Goods-Producing (7%)
|
-2.1%
|
-2.5%
|
-2.8%
|
-3.2%
|
2.2%
|
|
Private Service-Producing (68%)
|
0.9%
|
1.2%
|
1.9%
|
1.6%
|
2.1%
|
|
Government (18%)
|
1.3%
|
1.8%
|
1.7%
|
1.7%
|
2.0%
|
|
Unemployment Rate (% of labor force)
|
3.5%
|
3.2%
|
2.9%
|
3.0%
|
3.0%
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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
|
-27.7%
|
-27.1%
|
-28.4%
|
-23.5%
|
-22.7%
|
|
Multifamily Building Permits
|
50.4%
|
20.9%
|
-37.6%
|
-12.2%
|
-19.0%
|
|
Home Price Index
|
-0.1%
|
0.8%
|
5.3%
|
3.1%
|
11.7%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.16
|
2.78
|
2.25
|
2.45
|
1.69
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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 (#)
|
119
|
119
|
125
|
119
|
126
|
|
Total Assets (in millions)
|
377,265
|
375,384
|
263,355
|
375,384
|
247,287
|
|
New Institutions (# < 3 years)
|
14
|
12
|
12
|
12
|
14
|
|
Subchapter S Institutions
|
0
|
0
|
1
|
0
|
1
|
| |
|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.70
|
1.62
|
1.22
|
1.62
|
1.23
|
|
ALLL/Total Loans (median %)
|
1.09
|
1.07
|
1.09
|
1.07
|
1.09
|
|
ALLL/Noncurrent Loans (median multiple)
|
2.45
|
2.23
|
2.95
|
2.23
|
3.24
|
|
Net Loan Losses / Total Loans (median %)
|
0.05
|
0.09
|
0.01
|
0.07
|
0.03
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|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.49
|
9.62
|
9.55
|
9.62
|
9.66
|
|
Return on Assets (median %)
|
0.73
|
0.74
|
0.86
|
0.81
|
1.01
|
|
Pretax Return on Assets (median %)
|
0.99
|
0.98
|
1.21
|
1.13
|
1.46
|
|
Net Interest Margin (median %)
|
3.68
|
3.84
|
3.85
|
3.87
|
4.10
|
|
Yield on Earning Assets (median %)
|
6.69
|
7.14
|
7.05
|
7.16
|
6.90
|
|
Cost of Funding Earning Assets (median %)
|
3.05
|
3.24
|
3.19
|
3.22
|
2.77
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Provisions to Avg. Assets (median %)
|
0.16
|
0.17
|
0.07
|
0.14
|
0.10
|
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Noninterest Income to Avg. Assets (median %)
|
0.55
|
0.58
|
0.55
|
0.60
|
0.66
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Overhead to Avg. Assets (median %)
|
3.10
|
3.12
|
2.96
|
3.03
|
2.95
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Liquidity / Sensitivity
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Q1-08
|
Q4-07
|
Q1-07
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2007
|
2006
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|
Loans to Assets (median %)
|
73.7
|
73.7
|
74.2
|
73.7
|
73.6
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|
Noncore Funding to Assets (median %)
|
25.0
|
25.1
|
22.8
|
25.1
|
23.6
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Long-term Assets to Assets (median %, call filers)
|
20.3
|
18.3
|
15.5
|
18.3
|
17.1
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|
Brokered Deposits (number of institutions)
|
56
|
51
|
48
|
51
|
46
|
|
Brokered Deposits to Assets (median % for those above)
|
2.3
|
2.7
|
2.9
|
2.7
|
3.0
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Loan Concentrations (median % of Tier 1 Capital)
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Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
72.9
|
72.9
|
72.4
|
72.9
|
74.6
|
|
Commercial Real Estate
|
330.1
|
329.3
|
328.0
|
329.3
|
327.3
|
|
Construction & Development
|
100.9
|
108.0
|
100.7
|
108.0
|
99.3
|
|
Multifamily Residential Real Estate
|
11.6
|
10.9
|
9.8
|
10.9
|
8.5
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Nonresidential Real Estate
|
195.2
|
186.0
|
185.5
|
186.0
|
187.8
|
|
Residential Real Estate
|
228.4
|
225.8
|
225.3
|
225.8
|
222.0
|
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Consumer
|
36.2
|
35.4
|
32.8
|
35.4
|
34.1
|
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Agriculture
|
4.4
|
3.7
|
4.4
|
3.7
|
3.9
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BANKING PROFILE
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