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FDIC State Profiles
 

New Jersey at a Glance

ECONOMIC INDICATORS (Change from year ago, unless noted)
Employment Growth Rates Q4-10 Q3-10 Q4-09 2010 2009
Total Nonfarm (share of trailing four quarter employment in parentheses) -0.4% -0.6% -3.3% -1.0% -3.9%
  Manufacturing (7%) -0.9% -1.6% -10.6% -3.2% -10.9%
  Other (non-manufacturing) Goods-Producing (3%) -3.0% -4.9% -15.4% -6.6% -15.6%
  Private Service-Producing (73%) 0.5% 0.1% -2.8% -0.4% -3.4%
  Government (17%) -3.1% -2.4% 0.7% -1.5% 0.5%
Unemployment Rate (% of labor force) 9.2% 9.3% 9.7% 9.4% 9.1%
           
Other Indicators Q4-10 Q3-10 Q4-09 2010 2009
Single-Family Home Permits -11.6% 0.9% 10.6% 5.0% -19.8%
Multifamily Building Permits 22.2% 107.4% 17.0% 38.8% -57.0%
Home Price Index -0.3% -0.7% -5.8% -2.9% -5.9%
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level) 4.46 4.60 4.18 4.56 3.98
           
BANKING TRENDS
General Information Q4-10 Q3-10 Q4-09 2010 2009
Institutions (#) 117 119 123 117 123
Total Assets (in millions) 174,422 175,292 176,650 174,422 176,650
New Institutions (# < 3 years) 6 8 12 6 12
Subchapter S Institutions 7 7 7 7 7
           
Asset Quality Q4-10 Q3-10 Q4-09 2010 2009
Past-Due and Nonaccrual Loans / Total Loans (median %) 3.56 3.34 3.09 3.56 3.09
Noncurrent Loans / Total Loans (median %) 2.31 2.21 1.90 2.31 1.90
ALLL/Total Loans (median %) 1.28 1.20 1.12 1.28 1.12
ALLL/Noncurrent Loans (median multiple) 0.55 0.53 0.51 0.55 0.51
Net Loan Losses / Total Loans (median %) 0.33 0.16 0.24 0.31 0.20
           
Capital / Earnings Q4-10 Q3-10 Q4-09 2010 2009
Tier 1 Leverage (median %) 9.17 9.08 8.95 9.17 8.95
Return on Assets (median %) 0.42 0.48 0.37 0.46 0.27
Pretax Return on Assets (median %) 0.58 0.68 0.45 0.58 0.35
Net Interest Margin (median %) 3.43 3.45 3.24 3.38 3.06
Yield on Earning Assets (median %) 4.73 4.80 5.13 4.90 5.18
Cost of Funding Earning Assets (median %) 1.32 1.40 1.79 1.45 2.04
Provisions to Avg. Assets (median %) 0.39 0.27 0.34 0.35 0.34
Noninterest Income to Avg. Assets (median %) 0.32 0.29 0.25 0.28 0.27
Overhead to Avg. Assets (median %) 2.63 2.63 2.73 2.60 2.74
           
Liquidity / Sensitivity Q4-10 Q3-10 Q4-09 2010 2009
Net Loans to Assets (median %) 66.3 65.7 65.5 66.3 65.5
Noncore Funding to Assets (median %) 22.5 22.5 24.0 22.5 24.0
Long-term Assets to Assets (median %, call filers) 38.5 35.1 34.7 38.5 34.7
Brokered Deposits (number of institutions) 48 51 49 48 49
  Brokered Deposits to Assets (median % for those above) 2.2 2.5 3.7 2.2 3.7
           
Loan Concentrations (median % of Total Risk-Based Capital) Q4-10 Q3-10 Q4-09 2010 2009
Commercial and Industrial 26.2 26.0 30.9 26.2 30.9
Commercial Real Estate 250.2 262.1 269.7 250.2 269.7
  Construction & Development 23.4 26.7 31.5 23.4 31.5
  Multifamily Residential Real Estate 14.3 14.7 13.6 14.3 13.6
  Nonresidential Real Estate 188.5 197.3 179.4 188.5 179.4
Residential Real Estate 229.0 220.7 219.6 229.0 219.6
Consumer 2.0 2.0 2.1 2.0 2.1
Agriculture 0.0 0.0 0.0 0.0 0.0
           
BANKING PROFILE
Largest Deposit Markets (from 2010 Summary of Deposits) Institutions in Market Deposits ($ millions)       Asset Distribution Institutions
New York-Northern New Jersey-Long Island, NY-NJ-PA 240 933,674   < $100 million 11 (9.4% )
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 154 379,813   $100 million to $250 million 34 (29.1% )
Allentown-Bethlehem-Easton, PA-NJ 32 14,906   $250 million to $1 billion 48 (41% )
Trenton-Ewing, NJ 26 11,761   $1 billion to $10 billion 21 (17.9% )
Atlantic City, NJ 16 4,610   > $10 billion 3 (2.6% )
           
 
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