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FDIC State Profiles
 

New Jersey - Fourth Quarter 2007
ECONOMIC INDICATORS (Change from year ago, unless noted)
Employment Growth Rates Q4-07 Q3-07 Q4-06 2006 2005
Total Nonfarm (share of trailing four quarter employment in parentheses) 0.0% 0.1% 0.7% 0.8% 1.0%
  Manufacturing (8%) -2.9% -3.3% -2.6% -2.0% -2.3%
  Other (non-manufacturing) Goods-Producing (4%) -1.7% -1.8% 1.4% 3.4% 2.0%
  Private Service-Producing (72%) 0.5% 0.5% 1.0% 0.9% 1.3%
  Government (16%) 0.1% 0.1% 0.6% 0.9% 1.3%
Unemployment Rate (% of labor force) 4.2% 4.2% 4.4% 4.7% 4.5%
           
Other Indicators Q4-07 Q3-07 Q4-06 2006 2005
Single-Family Home Permits -28.6% -21.7% -28.9% -17.0% -4.8%
Multifamily Building Permits -7.9% -22.4% 8.1% -9.9% 28.7%
Home Price Index -0.3% 0.9% 5.8% 9.9% 15.9%
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level) 2.30 2.20 1.76 1.55 5.61
           
BANKING TRENDS
General Information Q4-07 Q3-07 Q4-06 2006 2005
Institutions (#) 127 126 131 131 136
Total Assets (in millions) 147,736 144,250 139,696 139,696 157,787
New Institutions (# < 3 years) 15 14 10 10 7
Subchapter S Institutions 7 7 6 6 4
           
Asset Quality Q4-07 Q3-07 Q4-06 2006 2005
Past-Due and Nonaccrual Loans / Total Loans (median %) 1.12 1.05 0.91 0.91 0.76
ALLL/Total Loans (median %) 0.91 0.89 0.91 0.91 0.95
ALLL/Noncurrent Loans (median multiple) 1.27 1.29 1.88 1.88 2.58
Net Loan Losses / Total Loans (median %) 0.00 0.00 0.00 0.00 0.00
           
Capital / Earnings Q4-07 Q3-07 Q4-06 2006 2005
Tier 1 Leverage (median %) 9.84 9.94 9.65 9.65 10.13
Return on Assets (median %) 0.39 0.47 0.48 0.55 0.78
Pretax Return on Assets (median %) 0.48 0.61 0.61 0.78 1.13
Net Interest Margin (median %) 3.04 3.10 3.11 3.20 3.36
Yield on Earning Assets (median %) 6.27 6.33 6.30 5.97 5.30
Cost of Funding Earning Assets (median %) 3.27 3.31 3.15 2.78 1.97
Provisions to Avg. Assets (median %) 0.05 0.03 0.04 0.06 0.04
Noninterest Income to Avg. Assets (median %) 0.28 0.28 0.28 0.27 0.30
Overhead to Avg. Assets (median %) 2.63 2.59 2.54 2.59 2.51
           
Liquidity / Sensitivity Q4-07 Q3-07 Q4-06 2006 2005
Loans to Assets (median %) 68.7 68.6 68.0 68.0 61.8
Noncore Funding to Assets (median %) 22.5 21.7 22.5 22.5 18.6
Long-term Assets to Assets (median %, call filers) 30.9 29.6 28.0 28.0 26.6
Brokered Deposits (number of institutions) 35 36 35 35 31
  Brokered Deposits to Assets (median % for those above) 2.7 3.1 3.6 3.6 3.4
           
Loan Concentrations (median % of Tier 1 Capital) Q4-07 Q3-07 Q4-06 2006 2005
Commercial and Industrial 33.7 29.8 28.1 28.1 19.8
Commercial Real Estate 231.7 231.8 240.7 240.7 220.5
  Construction & Development 37.5 39.6 36.2 36.2 32.3
  Multifamily Residential Real Estate 9.1 9.4 8.8 8.8 6.4
  Nonresidential Real Estate 136.1 134.2 137.5 137.5 132.2
Residential Real Estate 242.0 239.3 245.4 245.4 234.5
Consumer 2.8 2.7 2.1 2.1 2.5
Agriculture 0.0 0.0 0.0 0.0 0.0
           
BANKING PROFILE
Largest Deposit Markets (from 2007 Summary of Deposits) Institutions in Market Deposits ($ millions)       Asset Distribution Institutions
New York-Northern New Jersey-Long Island, NY-NJ-PA 243 785,036   < $250 million 56 (44.1% )
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 163 260,869   $250 million to $1 billion 48 (37.8% )
Allentown-Bethlehem-Easton, PA-NJ 37 13,301   $1 billion to $10 billion 21 (16.5% )
Trenton-Ewing, NJ 27 10,619   > $10 billion 2 (1.6% )
Atlantic City, NJ 18 4,735  
           
 

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