Massachusetts at a Glance
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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Employment Growth Rates
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Q1-09
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Q4-08
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Q1-08
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-2.6%
|
-1.2%
|
1.0%
|
0.1%
|
1.1%
|
|
Manufacturing (9%)
|
-4.5%
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-3.6%
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-2.6%
|
-2.9%
|
-1.6%
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|
Other (non-manufacturing) Goods-Producing (4%)
|
-12.2%
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-8.1%
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-1.5%
|
-4.2%
|
-2.6%
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Private Service-Producing (74%)
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-2.5%
|
-0.9%
|
1.5%
|
0.6%
|
1.7%
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Government (13%)
|
0.5%
|
1.2%
|
1.0%
|
1.0%
|
0.9%
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Unemployment Rate (% of labor force)
|
7.6%
|
6.1%
|
4.6%
|
5.3%
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4.5%
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|
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Other Indicators
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Q1-09
|
Q4-08
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Q1-08
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2008
|
2007
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|
Single-Family Home Permits
|
-33.0%
|
-53.7%
|
-38.1%
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-41.1%
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-23.6%
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|
Multifamily Building Permits
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19.1%
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-44.5%
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-59.2%
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-21.3%
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-35.5%
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Home Price Index
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-3.7%
|
-3.5%
|
-2.4%
|
-3.4%
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-2.4%
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|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.69
|
2.51
|
2.40
|
2.48
|
2.07
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BANKING TRENDS
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General Information
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Institutions (#)
|
173
|
175
|
180
|
175
|
181
|
|
Total Assets (in millions)
|
239,640
|
268,597
|
254,297
|
268,597
|
238,037
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New Institutions (# < 3 years)
|
3
|
3
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2
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3
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2
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Subchapter S Institutions
|
4
|
4
|
4
|
4
|
4
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|
|
|
|
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Asset Quality
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Q1-09
|
Q4-08
|
Q1-08
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2008
|
2007
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|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.99
|
1.73
|
1.26
|
1.73
|
1.22
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|
ALLL/Total Loans (median %)
|
0.98
|
0.94
|
0.87
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0.94
|
0.85
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ALLL/Noncurrent Loans (median multiple)
|
0.87
|
1.05
|
1.70
|
1.05
|
2.35
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Net Loan Losses / Total Loans (median %)
|
0.03
|
0.06
|
0.01
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0.07
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0.02
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Capital / Earnings
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
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|
Tier 1 Leverage (median %)
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9.33
|
9.40
|
9.81
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9.40
|
9.79
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Return on Assets (median %)
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0.37
|
0.34
|
0.43
|
0.19
|
0.40
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Pretax Return on Assets (median %)
|
0.55
|
0.35
|
0.56
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0.27
|
0.57
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Net Interest Margin (median %)
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3.13
|
3.23
|
2.97
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3.12
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3.01
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Yield on Earning Assets (median %)
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5.39
|
5.68
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5.88
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5.80
|
6.08
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Cost of Funding Earning Assets (median %)
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2.19
|
2.38
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2.92
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2.59
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3.08
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Provisions to Avg. Assets (median %)
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0.13
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0.16
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0.04
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0.14
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0.04
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Noninterest Income to Avg. Assets (median %)
|
0.48
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0.41
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0.44
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0.43
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0.46
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Overhead to Avg. Assets (median %)
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2.78
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2.78
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2.65
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2.72
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2.68
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Liquidity / Sensitivity
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Q1-09
|
Q4-08
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Q1-08
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2008
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2007
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Loans to Assets (median %)
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70.5
|
72.0
|
69.0
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72.0
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70.6
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Noncore Funding to Assets (median %)
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29.1
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30.9
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29.4
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30.9
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27.8
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Long-term Assets to Assets (median %, call filers)
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36.8
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37.4
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36.0
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37.4
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35.3
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Brokered Deposits (number of institutions)
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48
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49
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45
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49
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46
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Brokered Deposits to Assets (median % for those above)
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1.9
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1.9
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2.0
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1.9
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1.9
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Loan Concentrations (median % of Tier 1 Capital)
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Q1-09
|
Q4-08
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Q1-08
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2008
|
2007
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Commercial and Industrial
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28.9
|
29.9
|
26.6
|
29.9
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24.3
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Commercial Real Estate
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209.4
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206.1
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175.2
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206.1
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177.3
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Construction & Development
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37.3
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39.1
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40.6
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39.1
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38.6
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Multifamily Residential Real Estate
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17.2
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17.2
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14.8
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17.2
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14.7
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Nonresidential Real Estate
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124.2
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127.2
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107.5
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127.2
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105.2
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Residential Real Estate
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468.5
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466.2
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417.9
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466.2
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415.0
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Consumer
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5.1
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5.2
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5.5
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5.2
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5.9
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Agriculture
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0.0
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0.0
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0.0
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0.0
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0.0
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BANKING PROFILE
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