Minnesota - 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%
|
0.5%
|
0.3%
|
0.5%
|
1.3%
|
|
Manufacturing (12%)
|
-0.7%
|
-1.5%
|
-0.8%
|
-1.3%
|
-0.5%
|
|
Other (non-manufacturing) Goods-Producing (5%)
|
-5.7%
|
-4.7%
|
-6.6%
|
-5.3%
|
-1.4%
|
|
Private Service-Producing (68%)
|
1.0%
|
1.4%
|
1.2%
|
1.4%
|
2.0%
|
|
Government (15%)
|
1.3%
|
-0.3%
|
-0.4%
|
-0.3%
|
0.3%
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|
Unemployment Rate (% of labor force)
|
4.6%
|
4.6%
|
4.5%
|
4.6%
|
4.1%
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|
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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
|
-48.9%
|
-41.8%
|
-45.4%
|
-36.1%
|
-26.8%
|
|
Multifamily Building Permits
|
-49.9%
|
-32.3%
|
-27.6%
|
-32.0%
|
-13.9%
|
|
Home Price Index
|
-1.0%
|
-1.0%
|
2.3%
|
0.8%
|
3.8%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.62
|
2.46
|
1.91
|
2.19
|
1.48
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BANKING TRENDS
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|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
439
|
444
|
448
|
444
|
448
|
|
Total Assets (in millions)
|
105,096
|
106,729
|
79,769
|
106,729
|
80,039
|
|
New Institutions (# < 3 years)
|
12
|
12
|
12
|
12
|
13
|
|
Subchapter S Institutions
|
301
|
302
|
305
|
302
|
296
|
| |
|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.92
|
2.39
|
2.36
|
2.39
|
1.97
|
|
ALLL/Total Loans (median %)
|
1.26
|
1.24
|
1.28
|
1.24
|
1.27
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.85
|
1.11
|
1.15
|
1.11
|
1.51
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|
Net Loan Losses / Total Loans (median %)
|
0.02
|
0.13
|
0.00
|
0.14
|
0.06
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|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.39
|
9.59
|
9.63
|
9.59
|
9.65
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Return on Assets (median %)
|
1.03
|
0.90
|
1.10
|
1.04
|
1.22
|
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Pretax Return on Assets (median %)
|
1.17
|
1.08
|
1.25
|
1.21
|
1.43
|
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Net Interest Margin (median %)
|
4.01
|
4.11
|
4.19
|
4.14
|
4.34
|
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Yield on Earning Assets (median %)
|
6.87
|
7.25
|
7.14
|
7.26
|
7.04
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|
Cost of Funding Earning Assets (median %)
|
2.81
|
3.10
|
3.02
|
3.07
|
2.73
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Provisions to Avg. Assets (median %)
|
0.10
|
0.11
|
0.09
|
0.15
|
0.12
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Noninterest Income to Avg. Assets (median %)
|
0.52
|
0.56
|
0.52
|
0.55
|
0.55
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Overhead to Avg. Assets (median %)
|
3.05
|
3.14
|
2.95
|
3.04
|
3.02
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
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2007
|
2006
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Loans to Assets (median %)
|
71.7
|
71.6
|
72.7
|
71.6
|
72.2
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Noncore Funding to Assets (median %)
|
17.5
|
16.9
|
16.3
|
16.9
|
17.1
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Long-term Assets to Assets (median %, call filers)
|
11.8
|
9.7
|
8.8
|
9.7
|
9.0
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Brokered Deposits (number of institutions)
|
195
|
202
|
213
|
202
|
226
|
|
Brokered Deposits to Assets (median % for those above)
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4.7
|
5.0
|
5.3
|
5.0
|
5.4
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
120.1
|
115.5
|
116.1
|
115.5
|
115.3
|
|
Commercial Real Estate
|
205.0
|
205.9
|
213.2
|
205.9
|
213.1
|
|
Construction & Development
|
40.1
|
40.3
|
35.7
|
40.3
|
37.1
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|
Multifamily Residential Real Estate
|
2.9
|
2.6
|
3.0
|
2.6
|
2.8
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Nonresidential Real Estate
|
142.5
|
138.5
|
144.0
|
138.5
|
144.9
|
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Residential Real Estate
|
147.4
|
147.0
|
147.4
|
147.0
|
147.4
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Consumer
|
34.3
|
35.1
|
37.6
|
35.1
|
37.6
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Agriculture
|
75.3
|
77.5
|
76.6
|
77.5
|
79.4
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BANKING PROFILE
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