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FDIC State Profiles
 

Mississippi 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) -3.2% -2.1% 0.8% -0.5% 1.0%
  Manufacturing (14%) -10.0% -7.5% -3.6% -5.6% -3.5%
  Other (non-manufacturing) Goods-Producing (6%) -5.5% -2.8% 4.3% 2.5% 1.6%
  Private Service-Producing (58%) -3.0% -2.2% 1.1% -0.3% 1.9%
  Government (22%) 1.5% 2.1% 2.0% 1.7% 1.9%
Unemployment Rate (% of labor force) 9.1% 7.5% 6.0% 6.9% 6.3%
           
Other Indicators Q1-09 Q4-08 Q1-08 2008 2007
Single-Family Home Permits -45.5% -47.1% -39.6% -38.6% -22.3%
Multifamily Building Permits -82.1% -53.0% -14.8% -41.6% 209.1%
Home Price Index -0.4% 0.3% 2.9% 1.4% 5.9%
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level) 4.69 4.55 4.09 4.08 3.75
           
BANKING TRENDS
General Information Q1-09 Q4-08 Q1-08 2008 2007
Institutions (#) 95 95 98 95 97
Total Assets (in millions) 58,200 57,116 55,695 57,116 54,406
New Institutions (# < 3 years) 1 2 2 2 1
Subchapter S Institutions 27 26 27 26 27
           
Asset Quality Q1-09 Q4-08 Q1-08 2008 2007
Past-Due and Nonaccrual Loans / Total Loans (median %) 3.49 3.21 2.26 3.21 2.24
ALLL/Total Loans (median %) 1.29 1.28 1.22 1.28 1.21
ALLL/Noncurrent Loans (median multiple) 1.12 1.37 2.01 1.37 1.92
Net Loan Losses / Total Loans (median %) 0.20 0.31 0.10 0.26 0.17
           
Capital / Earnings Q1-09 Q4-08 Q1-08 2008 2007
Tier 1 Leverage (median %) 9.59 9.68 9.72 9.68 9.79
Return on Assets (median %) 0.80 0.57 1.04 0.81 1.09
Pretax Return on Assets (median %) 1.04 0.76 1.26 1.03 1.32
Net Interest Margin (median %) 3.89 4.05 3.92 4.00 4.05
Yield on Earning Assets (median %) 5.80 6.16 6.80 6.43 7.39
Cost of Funding Earning Assets (median %) 1.90 2.18 2.88 2.47 3.13
Provisions to Avg. Assets (median %) 0.18 0.31 0.11 0.25 0.15
Noninterest Income to Avg. Assets (median %) 0.82 0.88 0.87 0.84 0.97
Overhead to Avg. Assets (median %) 3.20 3.34 3.11 3.26 3.19
           
Liquidity / Sensitivity Q1-09 Q4-08 Q1-08 2008 2007
Loans to Assets (median %) 62.7 65.4 61.9 65.4 62.9
Noncore Funding to Assets (median %) 26.8 28.8 25.1 28.8 26.1
Long-term Assets to Assets (median %, call filers) 16.0 15.2 15.0 15.2 13.8
Brokered Deposits (number of institutions) 38 37 29 37 29
  Brokered Deposits to Assets (median % for those above) 2.3 2.1 2.0 2.1 2.2
           
Loan Concentrations (median % of Tier 1 Capital) Q1-09 Q4-08 Q1-08 2008 2007
Commercial and Industrial 69.6 71.5 67.9 71.5 74.0
Commercial Real Estate 231.7 245.5 209.0 245.5 211.7
  Construction & Development 60.3 67.0 58.5 67.0 52.5
  Multifamily Residential Real Estate 5.0 5.7 3.3 5.7 3.7
  Nonresidential Real Estate 146.6 147.1 134.5 147.1 136.2
Residential Real Estate 171.3 176.8 176.0 176.8 178.0
Consumer 58.5 61.6 59.9 61.6 65.1
Agriculture 36.9 38.1 33.1 38.1 35.1
           
BANKING PROFILE
Largest Deposit Markets (from 2008 Summary of Deposits) Institutions in Market Deposits ($ millions)       Asset Distribution Institutions
Memphis, TN-MS-AR 58 21,391   < $250 million 61 (64.2% )
Jackson, MS 23 8,989   $250 million to $1 billion 26 (27.4% )
Gulfport-Biloxi, MS 14 3,902   $1 billion to $10 billion 7 (7.4% )
Hattiesburg, MS 16 2,101   > $10 billion 1 (1.1% )
Pascagoula, MS 13 1,868  
           
 
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