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FDIC State Profiles
 

New Jersey at a Glance

ECONOMIC INDICATORS (Change from year ago, unless noted)
Employment Growth Rates Q3-09 Q2-09 Q3-08 2008 2007
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%
  Other (non-manufacturing) Goods-Producing (4%) -12.2% -14.0% -5.5% -4.3% -1.5%
  Private Service-Producing (73%) -2.3% -3.0% -0.5% -0.1% 0.8%
  Government (16%) -1.1% 0.1% 0.9% 0.5% 0.1%
Unemployment Rate (% of labor force) 9.6% 8.8% 5.7% 5.5% 4.3%
           
Other Indicators Q3-09 Q2-09 Q3-08 2008 2007
Single-Family Home Permits -15.9% -24.9% -31.8% -29.0% -26.6%
Multifamily Building Permits -35.9% -81.9% -55.4% -22.8% -18.6%
Home Price Index -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
           
BANKING TRENDS
General Information Q3-09 Q2-09 Q3-08 2008 2007
Institutions (#) 123 124 127 126 127
Total Assets (in millions) 173,205 171,552 154,916 159,351 147,732
New Institutions (# < 3 years) 12 12 18 17 15
Subchapter S Institutions 7 7 7 7 7
           
Asset Quality Q3-09 Q2-09 Q3-08 2008 2007
Past-Due and Nonaccrual Loans / Total Loans (median %) 2.68 2.31 1.29 1.78 1.12
Noncurrent Loans / Total Loans (median %) 1.75 1.31 0.71 0.87 0.41
ALLL/Total Loans (median %) 1.09 1.08 0.98 0.96 0.93
ALLL/Noncurrent Loans (median multiple) 0.54 0.66 0.94 0.80 1.34
Net Loan Losses / Total Loans (median %) 0.07 0.00 0.00 0.03 0.00
           
Capital / Earnings Q3-09 Q2-09 Q3-08 2008 2007
Tier 1 Leverage (median %) 9.19 9.16 9.78 9.43 9.82
Return on Assets (median %) 0.38 0.20 0.36 0.24 0.39
Pretax Return on Assets (median %) 0.50 0.26 0.57 0.35 0.49
Net Interest Margin (median %) 3.07 2.94 3.21 3.06 2.99
Yield on Earning Assets (median %) 5.17 5.19 5.76 5.76 6.14
Cost of Funding Earning Assets (median %) 2.00 2.14 2.55 2.69 3.20
Provisions to Avg. Assets (median %) 0.28 0.22 0.14 0.18 0.06
Noninterest Income to Avg. Assets (median %) 0.25 0.26 0.25 0.24 0.26
Overhead to Avg. Assets (median %) 2.68 2.78 2.73 2.73 2.68
           
Liquidity / Sensitivity Q3-09 Q2-09 Q3-08 2008 2007
Net Loans to Assets (median %) 66.6 68.0 70.5 69.9 68.1
Noncore Funding to Assets (median %) 23.5 24.8 24.0 25.5 22.5
Long-term Assets to Assets (median %, call filers) 33.9 33.8 32.7 34.3 30.9
Brokered Deposits (number of institutions) 47 50 48 52 35
  Brokered Deposits to Assets (median % for those above) 4.0 4.1 3.2 4.7 2.7
           
Loan Concentrations (median % of Total Risk-Based Capital) Q3-09 Q2-09 Q3-08 2008 2007
Commercial and Industrial 29.1 31.3 31.1 31.4 30.5
Commercial Real Estate 256.8 251.9 225.3 227.9 217.9
  Construction & Development 34.0 37.0 33.4 37.2 34.7
  Multifamily Residential Real Estate 12.5 12.1 9.4 9.4 8.5
  Nonresidential Real Estate 175.8 171.6 146.9 151.1 129.9
Residential Real Estate 222.5 223.2 225.7 231.9 217.9
Consumer 2.4 2.2 2.4 2.3 2.7
Agriculture 0.0 0.0 0.0 0.0 0.0
           
BANKING PROFILE
Largest Deposit Markets (from 2009 Summary of Deposits) Institutions in Market Deposits ($ millions)       Asset Distribution Institutions
New York-Northern New Jersey-Long Island, NY-NJ-PA 244 893,368   < $100 million 14 (11.4% )
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 156 283,125   $100 million to $250 million 33 (26.8% )
Trenton-Ewing, NJ 28 25,628   $250 million to $1 billion 52 (42.3% )
Allentown-Bethlehem-Easton, PA-NJ 31 14,158   $1 billion to $10 billion 21 (17.1% )
Atlantic City, NJ 16 4,421   > $10 billion 3 (2.4% )
           
 
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