New Jersey 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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Q3-09
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Q2-09
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Q3-08
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2008
|
2007
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|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-3.0%
|
-3.5%
|
-0.7%
|
-0.5%
|
0.2%
|
|
Manufacturing (7%)
|
-8.4%
|
-10.1%
|
-3.6%
|
-4.0%
|
-3.9%
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|
Other (non-manufacturing) Goods-Producing (4%)
|
-12.2%
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-14.0%
|
-5.5%
|
-4.3%
|
-1.5%
|
|
Private Service-Producing (73%)
|
-2.3%
|
-3.0%
|
-0.5%
|
-0.1%
|
0.8%
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|
Government (16%)
|
-1.1%
|
0.1%
|
0.9%
|
0.5%
|
0.1%
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|
Unemployment Rate (% of labor force)
|
9.6%
|
8.8%
|
5.7%
|
5.5%
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4.3%
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|
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Other Indicators
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Q3-09
|
Q2-09
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Q3-08
|
2008
|
2007
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|
Single-Family Home Permits
|
-15.9%
|
-24.9%
|
-31.8%
|
-29.0%
|
-26.6%
|
|
Multifamily Building Permits
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-35.9%
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-81.9%
|
-55.4%
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-22.8%
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-18.6%
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Home Price Index
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-6.0%
|
-6.0%
|
-5.4%
|
-4.1%
|
0.6%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
4.08
|
4.02
|
3.04
|
2.97
|
2.20
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BANKING TRENDS
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General Information
|
Q3-09
|
Q2-09
|
Q3-08
|
2008
|
2007
|
|
Institutions (#)
|
123
|
124
|
127
|
126
|
127
|
|
Total Assets (in millions)
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173,205
|
171,552
|
154,916
|
159,351
|
147,732
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New Institutions (# < 3 years)
|
12
|
12
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18
|
17
|
15
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|
Subchapter S Institutions
|
7
|
7
|
7
|
7
|
7
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|
|
|
|
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Asset Quality
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Q3-09
|
Q2-09
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Q3-08
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2008
|
2007
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|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.68
|
2.31
|
1.29
|
1.78
|
1.12
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|
Noncurrent Loans / Total Loans (median %)
|
1.75
|
1.31
|
0.71
|
0.87
|
0.41
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ALLL/Total Loans (median %)
|
1.09
|
1.08
|
0.98
|
0.96
|
0.93
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ALLL/Noncurrent Loans (median multiple)
|
0.54
|
0.66
|
0.94
|
0.80
|
1.34
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Net Loan Losses / Total Loans (median %)
|
0.07
|
0.00
|
0.00
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0.03
|
0.00
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Capital / Earnings
|
Q3-09
|
Q2-09
|
Q3-08
|
2008
|
2007
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|
Tier 1 Leverage (median %)
|
9.19
|
9.16
|
9.78
|
9.43
|
9.82
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Return on Assets (median %)
|
0.38
|
0.20
|
0.36
|
0.24
|
0.39
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Pretax Return on Assets (median %)
|
0.50
|
0.26
|
0.57
|
0.35
|
0.49
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Net Interest Margin (median %)
|
3.07
|
2.94
|
3.21
|
3.06
|
2.99
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Yield on Earning Assets (median %)
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5.17
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5.19
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5.76
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5.76
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6.14
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Cost of Funding Earning Assets (median %)
|
2.00
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2.14
|
2.55
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2.69
|
3.20
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Provisions to Avg. Assets (median %)
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0.28
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0.22
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0.14
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0.18
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0.06
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Noninterest Income to Avg. Assets (median %)
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0.25
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0.26
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0.25
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0.24
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0.26
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Overhead to Avg. Assets (median %)
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2.68
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2.78
|
2.73
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2.73
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2.68
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Liquidity / Sensitivity
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Q3-09
|
Q2-09
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Q3-08
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2008
|
2007
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Net Loans to Assets (median %)
|
66.6
|
68.0
|
70.5
|
69.9
|
68.1
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Noncore Funding to Assets (median %)
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23.5
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24.8
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24.0
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25.5
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22.5
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Long-term Assets to Assets (median %, call filers)
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33.9
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33.8
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32.7
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34.3
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30.9
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Brokered Deposits (number of institutions)
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47
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50
|
48
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52
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35
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Brokered Deposits to Assets (median % for those above)
|
4.0
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4.1
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3.2
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4.7
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2.7
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Loan Concentrations (median % of Total Risk-Based Capital)
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Q3-09
|
Q2-09
|
Q3-08
|
2008
|
2007
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Commercial and Industrial
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29.1
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31.3
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31.1
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31.4
|
30.5
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Commercial Real Estate
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256.8
|
251.9
|
225.3
|
227.9
|
217.9
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Construction & Development
|
34.0
|
37.0
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33.4
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37.2
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34.7
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Multifamily Residential Real Estate
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12.5
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12.1
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9.4
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9.4
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8.5
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Nonresidential Real Estate
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175.8
|
171.6
|
146.9
|
151.1
|
129.9
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Residential Real Estate
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222.5
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223.2
|
225.7
|
231.9
|
217.9
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Consumer
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2.4
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2.2
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2.4
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2.3
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2.7
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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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