New Jersey - Fourth Quarter 2007
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
0.0%
|
0.1%
|
0.7%
|
0.8%
|
1.0%
|
|
Manufacturing (8%)
|
-2.9%
|
-3.3%
|
-2.6%
|
-2.0%
|
-2.3%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-1.7%
|
-1.8%
|
1.4%
|
3.4%
|
2.0%
|
|
Private Service-Producing (72%)
|
0.5%
|
0.5%
|
1.0%
|
0.9%
|
1.3%
|
|
Government (16%)
|
0.1%
|
0.1%
|
0.6%
|
0.9%
|
1.3%
|
|
Unemployment Rate (% of labor force)
|
4.2%
|
4.2%
|
4.4%
|
4.7%
|
4.5%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Single-Family Home Permits
|
-28.6%
|
-21.7%
|
-28.9%
|
-17.0%
|
-4.8%
|
|
Multifamily Building Permits
|
-7.9%
|
-22.4%
|
8.1%
|
-9.9%
|
28.7%
|
|
Home Price Index
|
-0.3%
|
0.9%
|
5.8%
|
9.9%
|
15.9%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.30
|
2.20
|
1.76
|
1.55
|
5.61
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Institutions (#)
|
127
|
126
|
131
|
131
|
136
|
|
Total Assets (in millions)
|
147,736
|
144,250
|
139,696
|
139,696
|
157,787
|
|
New Institutions (# < 3 years)
|
15
|
14
|
10
|
10
|
7
|
|
Subchapter S Institutions
|
7
|
7
|
6
|
6
|
4
|
| |
|
|
|
|
|
|
Asset Quality
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.12
|
1.05
|
0.91
|
0.91
|
0.76
|
|
ALLL/Total Loans (median %)
|
0.91
|
0.89
|
0.91
|
0.91
|
0.95
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.27
|
1.29
|
1.88
|
1.88
|
2.58
|
|
Net Loan Losses / Total Loans (median %)
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Tier 1 Leverage (median %)
|
9.84
|
9.94
|
9.65
|
9.65
|
10.13
|
|
Return on Assets (median %)
|
0.39
|
0.47
|
0.48
|
0.55
|
0.78
|
|
Pretax Return on Assets (median %)
|
0.48
|
0.61
|
0.61
|
0.78
|
1.13
|
|
Net Interest Margin (median %)
|
3.04
|
3.10
|
3.11
|
3.20
|
3.36
|
|
Yield on Earning Assets (median %)
|
6.27
|
6.33
|
6.30
|
5.97
|
5.30
|
|
Cost of Funding Earning Assets (median %)
|
3.27
|
3.31
|
3.15
|
2.78
|
1.97
|
|
Provisions to Avg. Assets (median %)
|
0.05
|
0.03
|
0.04
|
0.06
|
0.04
|
|
Noninterest Income to Avg. Assets (median %)
|
0.28
|
0.28
|
0.28
|
0.27
|
0.30
|
|
Overhead to Avg. Assets (median %)
|
2.63
|
2.59
|
2.54
|
2.59
|
2.51
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Loans to Assets (median %)
|
68.7
|
68.6
|
68.0
|
68.0
|
61.8
|
|
Noncore Funding to Assets (median %)
|
22.5
|
21.7
|
22.5
|
22.5
|
18.6
|
|
Long-term Assets to Assets (median %, call filers)
|
30.9
|
29.6
|
28.0
|
28.0
|
26.6
|
|
Brokered Deposits (number of institutions)
|
35
|
36
|
35
|
35
|
31
|
|
Brokered Deposits to Assets (median % for those above)
|
2.7
|
3.1
|
3.6
|
3.6
|
3.4
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q4-07
|
Q3-07
|
Q4-06
|
2006
|
2005
|
|
Commercial and Industrial
|
33.7
|
29.8
|
28.1
|
28.1
|
19.8
|
|
Commercial Real Estate
|
231.7
|
231.8
|
240.7
|
240.7
|
220.5
|
|
Construction & Development
|
37.5
|
39.6
|
36.2
|
36.2
|
32.3
|
|
Multifamily Residential Real Estate
|
9.1
|
9.4
|
8.8
|
8.8
|
6.4
|
|
Nonresidential Real Estate
|
136.1
|
134.2
|
137.5
|
137.5
|
132.2
|
|
Residential Real Estate
|
242.0
|
239.3
|
245.4
|
245.4
|
234.5
|
|
Consumer
|
2.8
|
2.7
|
2.1
|
2.1
|
2.5
|
|
Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
| |
|
|
|
|
|
|
BANKING PROFILE
|