Michigan at a Glance
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-6.4%
|
-3.9%
|
-1.3%
|
-2.6%
|
-1.4%
|
|
Manufacturing (13%)
|
-18.1%
|
-9.1%
|
-4.8%
|
-7.2%
|
-4.7%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-12.6%
|
-9.1%
|
-5.5%
|
-7.2%
|
-6.5%
|
|
Private Service-Producing (67%)
|
-5.0%
|
-3.3%
|
-0.1%
|
-1.6%
|
-0.2%
|
|
Government (16%)
|
-0.4%
|
-0.7%
|
-2.0%
|
-1.2%
|
-1.4%
|
|
Unemployment Rate (% of labor force)
|
12.1%
|
9.6%
|
7.4%
|
8.4%
|
7.1%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Single-Family Home Permits
|
-50.4%
|
-44.1%
|
-51.2%
|
-44.9%
|
-36.7%
|
|
Multifamily Building Permits
|
-68.6%
|
-1.4%
|
34.6%
|
-26.0%
|
-49.2%
|
|
Home Price Index
|
-4.1%
|
-6.0%
|
-3.6%
|
-5.1%
|
-3.0%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
6.83
|
5.46
|
5.22
|
5.36
|
4.48
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Institutions (#)
|
151
|
159
|
162
|
159
|
164
|
|
Total Assets (in millions)
|
132,170
|
128,986
|
167,372
|
128,986
|
165,794
|
|
New Institutions (# < 3 years)
|
6
|
5
|
8
|
5
|
9
|
|
Subchapter S Institutions
|
18
|
18
|
18
|
18
|
16
|
| |
|
|
|
|
|
|
Asset Quality
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
4.61
|
4.59
|
3.90
|
4.59
|
3.58
|
|
ALLL/Total Loans (median %)
|
1.42
|
1.36
|
1.26
|
1.36
|
1.25
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.59
|
0.65
|
0.63
|
0.65
|
0.67
|
|
Net Loan Losses / Total Loans (median %)
|
0.40
|
0.87
|
0.23
|
0.59
|
0.25
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Tier 1 Leverage (median %)
|
8.97
|
8.86
|
9.18
|
8.86
|
9.14
|
|
Return on Assets (median %)
|
0.28
|
-0.20
|
0.54
|
0.21
|
0.59
|
|
Pretax Return on Assets (median %)
|
0.42
|
-0.33
|
0.69
|
0.22
|
0.82
|
|
Net Interest Margin (median %)
|
3.66
|
3.74
|
3.72
|
3.72
|
3.90
|
|
Yield on Earning Assets (median %)
|
5.63
|
5.98
|
6.66
|
6.24
|
7.11
|
|
Cost of Funding Earning Assets (median %)
|
2.06
|
2.32
|
2.93
|
2.56
|
3.19
|
|
Provisions to Avg. Assets (median %)
|
0.52
|
0.95
|
0.24
|
0.63
|
0.24
|
|
Noninterest Income to Avg. Assets (median %)
|
0.63
|
0.52
|
0.60
|
0.56
|
0.60
|
|
Overhead to Avg. Assets (median %)
|
3.27
|
3.34
|
3.16
|
3.20
|
3.12
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Loans to Assets (median %)
|
74.5
|
76.9
|
76.5
|
76.9
|
78.3
|
|
Noncore Funding to Assets (median %)
|
24.8
|
26.1
|
24.6
|
26.1
|
23.7
|
|
Long-term Assets to Assets (median %, call filers)
|
15.0
|
14.7
|
14.7
|
14.7
|
13.9
|
|
Brokered Deposits (number of institutions)
|
75
|
86
|
81
|
86
|
80
|
|
Brokered Deposits to Assets (median % for those above)
|
10.0
|
10.3
|
7.5
|
10.3
|
8.3
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Commercial and Industrial
|
95.4
|
100.2
|
95.7
|
100.2
|
97.0
|
|
Commercial Real Estate
|
304.8
|
317.4
|
289.5
|
317.4
|
286.6
|
|
Construction & Development
|
44.3
|
50.4
|
55.5
|
50.4
|
57.0
|
|
Multifamily Residential Real Estate
|
9.5
|
9.7
|
8.1
|
9.7
|
8.5
|
|
Nonresidential Real Estate
|
245.4
|
255.5
|
221.9
|
255.5
|
226.9
|
|
Residential Real Estate
|
268.0
|
271.5
|
251.9
|
271.5
|
250.5
|
|
Consumer
|
24.3
|
23.8
|
24.1
|
23.8
|
23.8
|
|
Agriculture
|
4.1
|
4.0
|
3.5
|
4.0
|
3.7
|
| |
|
|
|
|
|
|
BANKING PROFILE
|
