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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Q2-09
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Q1-09
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Q2-08
|
2008
|
2007
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|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-3.5%
|
-2.9%
|
-0.1%
|
-0.5%
|
0.2%
|
|
Manufacturing (7%)
|
-10.1%
|
-9.2%
|
-3.1%
|
-4.0%
|
-3.9%
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|
Other (non-manufacturing) Goods-Producing (4%)
|
-14.0%
|
-11.2%
|
-3.9%
|
-4.3%
|
-1.5%
|
|
Private Service-Producing (73%)
|
-3.0%
|
-2.5%
|
0.3%
|
-0.1%
|
0.8%
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|
Government (16%)
|
0.1%
|
0.2%
|
0.2%
|
0.5%
|
0.1%
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Unemployment Rate (% of labor force)
|
8.8%
|
7.9%
|
5.1%
|
5.5%
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4.3%
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| |
|
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|
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Other Indicators
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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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|
Single-Family Home Permits
|
-24.9%
|
-42.1%
|
-29.4%
|
-29.0%
|
-26.6%
|
|
Multifamily Building Permits
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-81.9%
|
-60.8%
|
36.6%
|
-22.8%
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-18.6%
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|
Home Price Index
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-6.1%
|
-5.6%
|
-3.6%
|
-4.0%
|
0.7%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
4.02
|
3.62
|
2.98
|
2.97
|
2.20
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BANKING TRENDS
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|
General Information
|
Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
|
|
Institutions (#)
|
124
|
126
|
126
|
126
|
127
|
|
Total Assets (in millions)
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171,558
|
169,630
|
149,027
|
159,351
|
147,732
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New Institutions (# < 3 years)
|
12
|
14
|
17
|
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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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.31
|
2.28
|
1.27
|
1.78
|
1.12
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|
Noncurrent Loans / Total Loans (median %)
|
1.31
|
1.14
|
0.58
|
0.87
|
0.41
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ALLL/Total Loans (median %)
|
1.08
|
1.00
|
0.96
|
0.96
|
0.93
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ALLL/Noncurrent Loans (median multiple)
|
0.67
|
0.75
|
1.13
|
0.80
|
1.34
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Net Loan Losses / Total Loans (median %)
|
0.00
|
0.01
|
0.00
|
0.03
|
0.00
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Capital / Earnings
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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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|
Tier 1 Leverage (median %)
|
9.16
|
9.39
|
9.86
|
9.43
|
9.82
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Return on Assets (median %)
|
0.20
|
0.30
|
0.38
|
0.24
|
0.39
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Pretax Return on Assets (median %)
|
0.27
|
0.45
|
0.59
|
0.35
|
0.49
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Net Interest Margin (median %)
|
2.94
|
2.86
|
3.07
|
3.06
|
2.99
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Yield on Earning Assets (median %)
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5.19
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5.30
|
5.76
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5.76
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6.14
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Cost of Funding Earning Assets (median %)
|
2.14
|
2.37
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2.68
|
2.69
|
3.20
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Provisions to Avg. Assets (median %)
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0.22
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0.20
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0.09
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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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0.26
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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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2.78
|
2.67
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2.71
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2.73
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2.68
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Liquidity / Sensitivity
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Q2-09
|
Q1-09
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Q2-08
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2008
|
2007
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Net Loans to Assets (median %)
|
68.0
|
67.5
|
69.8
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69.9
|
68.1
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Noncore Funding to Assets (median %)
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24.8
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25.5
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23.9
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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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33.8
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32.3
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33.6
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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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50
|
51
|
43
|
52
|
35
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Brokered Deposits to Assets (median % for those above)
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4.1
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4.0
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1.9
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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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Q2-09
|
Q1-09
|
Q2-08
|
2008
|
2007
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Commercial and Industrial
|
31.3
|
31.6
|
31.5
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31.4
|
30.5
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Commercial Real Estate
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251.1
|
238.7
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234.3
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227.9
|
217.9
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Construction & Development
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37.0
|
34.5
|
36.7
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37.2
|
34.7
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Multifamily Residential Real Estate
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12.1
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9.4
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8.9
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9.4
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8.5
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Nonresidential Real Estate
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167.3
|
154.6
|
150.8
|
151.1
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129.9
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Residential Real Estate
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223.2
|
233.1
|
220.1
|
231.9
|
217.9
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Consumer
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2.1
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2.1
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2.2
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2.3
|
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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