New Jersey at a Glance
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-2.9%
|
-1.6%
|
0.5%
|
-0.5%
|
0.2%
|
|
Manufacturing (7%)
|
-9.2%
|
-5.6%
|
-3.5%
|
-4.0%
|
-3.9%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-11.2%
|
-7.2%
|
-0.4%
|
-4.3%
|
-1.5%
|
|
Private Service-Producing (73%)
|
-2.5%
|
-1.4%
|
1.1%
|
-0.1%
|
0.8%
|
|
Government (16%)
|
0.2%
|
0.7%
|
0.3%
|
0.5%
|
0.1%
|
|
Unemployment Rate (% of labor force)
|
7.9%
|
6.4%
|
4.7%
|
5.5%
|
4.3%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Single-Family Home Permits
|
-42.1%
|
-28.7%
|
-25.7%
|
-29.0%
|
-26.6%
|
|
Multifamily Building Permits
|
-60.8%
|
-67.7%
|
9.7%
|
-22.8%
|
-18.6%
|
|
Home Price Index
|
-5.5%
|
-5.1%
|
-1.6%
|
-3.8%
|
0.9%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.62
|
3.23
|
2.62
|
2.97
|
2.20
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Institutions (#)
|
126
|
126
|
125
|
126
|
127
|
|
Total Assets (in millions)
|
169,748
|
159,467
|
150,405
|
159,467
|
147,732
|
|
New Institutions (# < 3 years)
|
14
|
17
|
14
|
17
|
15
|
|
Subchapter S Institutions
|
7
|
7
|
7
|
7
|
7
|
| |
|
|
|
|
|
|
Asset Quality
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.28
|
1.78
|
1.26
|
1.78
|
1.12
|
|
ALLL/Total Loans (median %)
|
1.00
|
0.96
|
0.92
|
0.96
|
0.93
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.75
|
0.80
|
1.32
|
0.80
|
1.34
|
|
Net Loan Losses / Total Loans (median %)
|
0.01
|
0.00
|
0.00
|
0.03
|
0.00
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Tier 1 Leverage (median %)
|
9.43
|
9.50
|
9.74
|
9.50
|
9.82
|
|
Return on Assets (median %)
|
0.30
|
0.25
|
0.41
|
0.25
|
0.39
|
|
Pretax Return on Assets (median %)
|
0.45
|
0.33
|
0.50
|
0.36
|
0.49
|
|
Net Interest Margin (median %)
|
2.86
|
3.07
|
3.01
|
3.06
|
2.99
|
|
Yield on Earning Assets (median %)
|
5.30
|
5.63
|
6.00
|
5.76
|
6.14
|
|
Cost of Funding Earning Assets (median %)
|
2.37
|
2.52
|
3.05
|
2.69
|
3.20
|
|
Provisions to Avg. Assets (median %)
|
0.19
|
0.29
|
0.06
|
0.18
|
0.06
|
|
Noninterest Income to Avg. Assets (median %)
|
0.26
|
0.21
|
0.24
|
0.24
|
0.26
|
|
Overhead to Avg. Assets (median %)
|
2.67
|
2.72
|
2.65
|
2.73
|
2.68
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Loans to Assets (median %)
|
68.5
|
70.4
|
69.3
|
70.4
|
68.7
|
|
Noncore Funding to Assets (median %)
|
25.5
|
25.5
|
22.9
|
25.5
|
22.5
|
|
Long-term Assets to Assets (median %, call filers)
|
32.3
|
34.3
|
32.7
|
34.3
|
30.9
|
|
Brokered Deposits (number of institutions)
|
51
|
52
|
39
|
52
|
35
|
|
Brokered Deposits to Assets (median % for those above)
|
4.0
|
4.7
|
2.8
|
4.7
|
2.7
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Commercial and Industrial
|
34.0
|
33.0
|
34.4
|
33.0
|
33.7
|
|
Commercial Real Estate
|
251.5
|
235.9
|
222.1
|
235.9
|
231.7
|
|
Construction & Development
|
36.6
|
38.9
|
40.4
|
38.9
|
37.4
|
|
Multifamily Residential Real Estate
|
10.0
|
10.1
|
9.4
|
10.1
|
9.1
|
|
Nonresidential Real Estate
|
162.6
|
159.4
|
142.7
|
159.4
|
137.6
|
|
Residential Real Estate
|
263.5
|
258.9
|
238.7
|
258.9
|
242.0
|
|
Consumer
|
2.4
|
2.6
|
2.7
|
2.6
|
2.8
|
|
Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
| |
|
|
|
|
|
|
BANKING PROFILE
|
