Connecticut - 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)
|
0.7%
|
0.9%
|
1.0%
|
1.0%
|
1.1%
|
|
Manufacturing (11%)
|
-1.0%
|
-0.9%
|
-0.5%
|
-1.1%
|
-0.9%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
0.5%
|
1.8%
|
1.2%
|
1.9%
|
1.8%
|
|
Private Service-Producing (70%)
|
0.8%
|
1.0%
|
1.3%
|
1.2%
|
1.5%
|
|
Government (15%)
|
1.7%
|
1.9%
|
1.0%
|
1.3%
|
0.9%
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Unemployment Rate (% of labor force)
|
5.0%
|
4.8%
|
4.4%
|
4.6%
|
4.4%
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|
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|
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Other Indicators
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Q1-08
|
Q4-07
|
Q1-07
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2007
|
2006
|
|
Single-Family Home Permits
|
-17.1%
|
-21.5%
|
-33.6%
|
-23.8%
|
-17.0%
|
|
Multifamily Building Permits
|
-5.1%
|
-24.5%
|
-34.8%
|
-5.8%
|
-25.7%
|
|
Home Price Index
|
-0.5%
|
0.8%
|
3.1%
|
1.7%
|
6.5%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.06
|
1.64
|
1.50
|
1.61
|
1.38
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BANKING TRENDS
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|
General Information
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Institutions (#)
|
56
|
56
|
57
|
56
|
57
|
|
Total Assets (in millions)
|
73,296
|
64,864
|
65,385
|
64,864
|
63,313
|
|
New Institutions (# < 3 years)
|
3
|
2
|
3
|
2
|
4
|
|
Subchapter S Institutions
|
1
|
1
|
1
|
1
|
1
|
| |
|
|
|
|
|
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Asset Quality
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.56
|
1.27
|
0.82
|
1.27
|
0.79
|
|
ALLL/Total Loans (median %)
|
0.98
|
0.97
|
1.02
|
0.97
|
1.00
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.23
|
1.41
|
2.29
|
1.41
|
2.78
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|
Net Loan Losses / Total Loans (median %)
|
0.00
|
0.03
|
0.00
|
0.02
|
0.01
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|
|
|
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Capital / Earnings
|
Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
10.05
|
9.90
|
10.30
|
9.90
|
10.20
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|
Return on Assets (median %)
|
0.51
|
0.55
|
0.57
|
0.56
|
0.69
|
|
Pretax Return on Assets (median %)
|
0.77
|
0.74
|
0.81
|
0.73
|
0.97
|
|
Net Interest Margin (median %)
|
3.31
|
3.41
|
3.50
|
3.42
|
3.68
|
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Yield on Earning Assets (median %)
|
6.06
|
6.32
|
6.09
|
6.26
|
6.03
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Cost of Funding Earning Assets (median %)
|
2.71
|
3.00
|
2.82
|
2.93
|
2.47
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Provisions to Avg. Assets (median %)
|
0.06
|
0.04
|
0.01
|
0.04
|
0.04
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Noninterest Income to Avg. Assets (median %)
|
0.51
|
0.55
|
0.50
|
0.55
|
0.51
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Overhead to Avg. Assets (median %)
|
2.98
|
2.96
|
2.96
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2.98
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2.97
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Liquidity / Sensitivity
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Q1-08
|
Q4-07
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Q1-07
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2007
|
2006
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Loans to Assets (median %)
|
71.6
|
72.6
|
68.4
|
72.6
|
69.8
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Noncore Funding to Assets (median %)
|
25.3
|
24.2
|
23.0
|
24.2
|
25.1
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Long-term Assets to Assets (median %, call filers)
|
40.1
|
38.7
|
34.0
|
38.7
|
33.1
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Brokered Deposits (number of institutions)
|
22
|
21
|
23
|
21
|
20
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Brokered Deposits to Assets (median % for those above)
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1.8
|
2.1
|
2.1
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2.1
|
3.5
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Loan Concentrations (median % of Tier 1 Capital)
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Q1-08
|
Q4-07
|
Q1-07
|
2007
|
2006
|
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Commercial and Industrial
|
50.3
|
49.3
|
39.0
|
49.3
|
38.9
|
|
Commercial Real Estate
|
191.0
|
187.5
|
166.6
|
187.5
|
166.2
|
|
Construction & Development
|
45.5
|
40.0
|
36.5
|
40.0
|
37.8
|
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Multifamily Residential Real Estate
|
8.4
|
7.6
|
7.6
|
7.6
|
6.5
|
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Nonresidential Real Estate
|
134.6
|
131.8
|
112.5
|
131.8
|
106.1
|
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Residential Real Estate
|
373.0
|
384.4
|
362.5
|
384.4
|
377.2
|
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Consumer
|
6.6
|
5.3
|
6.6
|
5.3
|
6.5
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Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
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BANKING PROFILE
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