Michigan at a Glance
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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Employment Growth Rates
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Q2-09
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Q1-09
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Q2-08
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2008
|
2007
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|
Total Nonfarm (share of trailing four quarter employment in parentheses)
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-7.3%
|
-6.4%
|
-2.2%
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-2.6%
|
-1.4%
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Manufacturing (13%)
|
-21.9%
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-18.1%
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-7.0%
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-7.2%
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-4.7%
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Other (non-manufacturing) Goods-Producing (4%)
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-15.3%
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-12.6%
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-6.5%
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-7.2%
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-6.5%
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Private Service-Producing (67%)
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-5.4%
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-5.0%
|
-0.9%
|
-1.6%
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-0.2%
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Government (16%)
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-0.2%
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-0.4%
|
-1.6%
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-1.2%
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-1.4%
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Unemployment Rate (% of labor force)
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14.1%
|
12.1%
|
8.1%
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8.4%
|
7.1%
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Other Indicators
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Q2-09
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Q1-09
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Q2-08
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2008
|
2007
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|
Single-Family Home Permits
|
-46.2%
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-50.4%
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-37.5%
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-44.9%
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-36.7%
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Multifamily Building Permits
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-64.0%
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-68.6%
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-19.4%
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-26.0%
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-49.2%
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Home Price Index
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-5.1%
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-4.3%
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-5.2%
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-5.1%
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-3.1%
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|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
7.10
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6.83
|
5.39
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5.36
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4.48
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BANKING TRENDS
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General Information
|
Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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Institutions (#)
|
149
|
151
|
161
|
159
|
164
|
|
Total Assets (in millions)
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126,463
|
132,137
|
166,496
|
128,985
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165,794
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New Institutions (# < 3 years)
|
6
|
6
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8
|
5
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9
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Subchapter S Institutions
|
18
|
18
|
18
|
18
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16
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|
|
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Asset Quality
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Q2-09
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Q1-09
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Q2-08
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2008
|
2007
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Past-Due and Nonaccrual Loans / Total Loans (median %)
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4.78
|
4.61
|
3.93
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4.59
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3.58
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Noncurrent Loans / Total Loans (median %)
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2.67
|
2.65
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2.28
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2.45
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1.71
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ALLL/Total Loans (median %)
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1.44
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1.44
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1.29
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1.36
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1.25
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ALLL/Noncurrent Loans (median multiple)
|
0.60
|
0.60
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0.58
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0.65
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0.67
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Net Loan Losses / Total Loans (median %)
|
0.51
|
0.40
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0.32
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0.59
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0.25
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Capital / Earnings
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Q2-09
|
Q1-09
|
Q2-08
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2008
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2007
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Tier 1 Leverage (median %)
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9.04
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8.90
|
9.12
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8.84
|
9.14
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Return on Assets (median %)
|
0.19
|
0.26
|
0.46
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0.21
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0.59
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Pretax Return on Assets (median %)
|
0.20
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0.36
|
0.65
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0.22
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0.82
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Net Interest Margin (median %)
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3.68
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3.66
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3.69
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3.72
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3.90
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Yield on Earning Assets (median %)
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5.54
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5.63
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6.27
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6.24
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7.11
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Cost of Funding Earning Assets (median %)
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1.89
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2.06
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2.60
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2.56
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3.19
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Provisions to Avg. Assets (median %)
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0.58
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0.53
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0.39
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0.68
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0.24
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Noninterest Income to Avg. Assets (median %)
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0.71
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0.61
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0.61
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0.56
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0.60
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Overhead to Avg. Assets (median %)
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3.44
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3.28
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3.12
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3.20
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3.12
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Liquidity / Sensitivity
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Q2-09
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Q1-09
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Q2-08
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2008
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2007
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Net Loans to Assets (median %)
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72.6
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73.2
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76.1
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75.3
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77.2
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Noncore Funding to Assets (median %)
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24.7
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24.8
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24.3
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26.1
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23.7
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Long-term Assets to Assets (median %, call filers)
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15.5
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15.0
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15.4
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14.7
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13.9
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Brokered Deposits (number of institutions)
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72
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75
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80
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86
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80
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Brokered Deposits to Assets (median % for those above)
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9.6
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10.0
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7.4
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10.3
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8.3
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Loan Concentrations (median % of Total Risk-Based Capital)
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Q2-09
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Q1-09
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Q2-08
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2008
|
2007
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Commercial and Industrial
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85.7
|
86.0
|
86.2
|
89.8
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88.4
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Commercial Real Estate
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276.2
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283.1
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279.0
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285.2
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259.6
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Construction & Development
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37.1
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39.6
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51.6
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45.4
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53.8
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Multifamily Residential Real Estate
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8.2
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9.3
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7.3
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8.7
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7.9
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Nonresidential Real Estate
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220.7
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224.5
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207.1
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229.7
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208.0
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Residential Real Estate
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242.3
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243.6
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229.5
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240.8
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226.0
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Consumer
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20.8
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22.0
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20.1
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21.7
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21.4
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Agriculture
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3.6
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3.7
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3.3
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3.6
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3.3
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BANKING PROFILE
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