South Dakota - 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)
|
1.8%
|
1.6%
|
2.1%
|
2.0%
|
2.2%
|
|
Manufacturing (10%)
|
0.6%
|
-0.2%
|
3.2%
|
1.0%
|
4.5%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
3.2%
|
2.9%
|
0.2%
|
1.4%
|
3.8%
|
|
Private Service-Producing (65%)
|
2.2%
|
2.2%
|
2.6%
|
2.6%
|
2.3%
|
|
Government (19%)
|
0.9%
|
0.3%
|
0.0%
|
0.4%
|
0.0%
|
|
Unemployment Rate (% of labor force)
|
2.6%
|
2.9%
|
3.0%
|
3.0%
|
3.1%
|
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|
|
|
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Other Indicators
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-35.4%
|
-2.6%
|
-22.7%
|
-14.3%
|
-9.1%
|
|
Multifamily Building Permits
|
-52.9%
|
168.1%
|
-78.6%
|
-10.5%
|
68.7%
|
|
Home Price Index
|
4.2%
|
4.8%
|
6.2%
|
5.3%
|
5.6%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.57
|
1.59
|
1.47
|
1.60
|
1.14
|
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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 (#)
|
89
|
89
|
89
|
89
|
89
|
|
Total Assets (in millions)
|
591,680
|
571,625
|
501,642
|
571,625
|
499,029
|
|
New Institutions (# < 3 years)
|
2
|
2
|
1
|
2
|
1
|
|
Subchapter S Institutions
|
41
|
40
|
39
|
40
|
37
|
| |
|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.33
|
1.59
|
2.39
|
1.59
|
1.68
|
|
ALLL/Total Loans (median %)
|
1.29
|
1.30
|
1.42
|
1.30
|
1.37
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.86
|
2.17
|
2.18
|
2.17
|
2.13
|
|
Net Loan Losses / Total Loans (median %)
|
0.00
|
0.07
|
0.00
|
0.10
|
0.08
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
10.41
|
10.40
|
10.62
|
10.40
|
10.76
|
|
Return on Assets (median %)
|
1.22
|
1.07
|
1.28
|
1.26
|
1.44
|
|
Pretax Return on Assets (median %)
|
1.44
|
1.37
|
1.54
|
1.55
|
1.74
|
|
Net Interest Margin (median %)
|
4.28
|
4.28
|
4.43
|
4.49
|
4.54
|
|
Yield on Earning Assets (median %)
|
7.07
|
7.57
|
7.38
|
7.62
|
7.34
|
|
Cost of Funding Earning Assets (median %)
|
2.86
|
3.19
|
3.04
|
3.19
|
2.71
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Provisions to Avg. Assets (median %)
|
0.00
|
0.00
|
0.00
|
0.08
|
0.09
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|
Noninterest Income to Avg. Assets (median %)
|
0.58
|
0.67
|
0.62
|
0.63
|
0.66
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|
Overhead to Avg. Assets (median %)
|
2.97
|
3.32
|
3.01
|
3.12
|
3.10
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|
|
|
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Liquidity / Sensitivity
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
68.5
|
70.6
|
70.8
|
70.6
|
70.8
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Noncore Funding to Assets (median %)
|
18.9
|
17.3
|
17.9
|
17.3
|
18.7
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Long-term Assets to Assets (median %, call filers)
|
14.1
|
13.2
|
11.8
|
13.2
|
11.8
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|
Brokered Deposits (number of institutions)
|
28
|
30
|
34
|
30
|
34
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|
Brokered Deposits to Assets (median % for those above)
|
3.8
|
2.9
|
3.8
|
2.9
|
4.0
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|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Commercial and Industrial
|
89.5
|
90.6
|
91.4
|
90.6
|
84.3
|
|
Commercial Real Estate
|
61.8
|
54.2
|
53.7
|
54.2
|
55.6
|
|
Construction & Development
|
10.5
|
11.3
|
8.2
|
11.3
|
9.8
|
|
Multifamily Residential Real Estate
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
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Nonresidential Real Estate
|
37.1
|
35.2
|
39.1
|
35.2
|
39.5
|
|
Residential Real Estate
|
36.9
|
37.0
|
33.3
|
37.0
|
33.3
|
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Consumer
|
39.5
|
39.8
|
37.3
|
39.8
|
40.1
|
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Agriculture
|
235.2
|
236.8
|
242.9
|
236.8
|
232.6
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BANKING PROFILE
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