South Dakota - Second Quarter 2008
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
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Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
1.2%
|
1.8%
|
2.1%
|
2.0%
|
2.2%
|
|
Manufacturing (10%)
|
1.7%
|
0.6%
|
1.7%
|
1.0%
|
4.5%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
3.0%
|
3.2%
|
0.3%
|
1.4%
|
3.8%
|
|
Private Service-Producing (65%)
|
1.1%
|
2.2%
|
3.0%
|
2.6%
|
2.3%
|
|
Government (19%)
|
0.8%
|
0.9%
|
-0.2%
|
0.4%
|
0.0%
|
|
Unemployment Rate (% of labor force)
|
2.8%
|
2.6%
|
3.0%
|
3.0%
|
3.1%
|
| |
|
|
|
|
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Other Indicators
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Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
1.9%
|
-35.4%
|
-17.4%
|
-14.3%
|
-9.1%
|
|
Multifamily Building Permits
|
-43.3%
|
-52.9%
|
170.2%
|
-10.5%
|
68.7%
|
|
Home Price Index
|
3.8%
|
4.4%
|
5.4%
|
5.1%
|
5.5%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.83
|
1.57
|
1.80
|
1.60
|
1.14
|
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|
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BANKING TRENDS
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|
General Information
|
Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Institutions (#)
|
89
|
89
|
88
|
89
|
89
|
|
Total Assets (in millions)
|
604,796
|
591,625
|
528,242
|
571,576
|
499,029
|
|
New Institutions (# < 3 years)
|
2
|
2
|
1
|
2
|
1
|
|
Subchapter S Institutions
|
40
|
41
|
39
|
40
|
37
|
| |
|
|
|
|
|
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Asset Quality
|
Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.71
|
2.33
|
1.80
|
1.59
|
1.68
|
|
ALLL/Total Loans (median %)
|
1.25
|
1.29
|
1.33
|
1.30
|
1.37
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.70
|
1.87
|
1.78
|
2.21
|
2.13
|
|
Net Loan Losses / Total Loans (median %)
|
0.06
|
0.00
|
0.03
|
0.10
|
0.08
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
10.21
|
10.41
|
10.54
|
10.40
|
10.76
|
|
Return on Assets (median %)
|
1.10
|
1.27
|
1.35
|
1.26
|
1.44
|
|
Pretax Return on Assets (median %)
|
1.40
|
1.44
|
1.75
|
1.55
|
1.74
|
|
Net Interest Margin (median %)
|
4.07
|
4.28
|
4.44
|
4.49
|
4.54
|
|
Yield on Earning Assets (median %)
|
6.69
|
7.07
|
7.58
|
7.62
|
7.34
|
|
Cost of Funding Earning Assets (median %)
|
2.54
|
2.86
|
3.24
|
3.19
|
2.71
|
|
Provisions to Avg. Assets (median %)
|
0.05
|
0.00
|
0.02
|
0.08
|
0.09
|
|
Noninterest Income to Avg. Assets (median %)
|
0.59
|
0.58
|
0.63
|
0.63
|
0.66
|
|
Overhead to Avg. Assets (median %)
|
2.95
|
2.97
|
3.07
|
3.12
|
3.10
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|
|
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Liquidity / Sensitivity
|
Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
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Loans to Assets (median %)
|
68.6
|
68.5
|
71.8
|
70.6
|
70.8
|
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Noncore Funding to Assets (median %)
|
20.0
|
18.9
|
18.3
|
17.3
|
18.7
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|
Long-term Assets to Assets (median %, call filers)
|
15.5
|
14.1
|
11.8
|
13.2
|
11.8
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Brokered Deposits (number of institutions)
|
30
|
28
|
34
|
30
|
34
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|
Brokered Deposits to Assets (median % for those above)
|
2.4
|
3.8
|
5.3
|
2.9
|
4.0
|
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|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q2-08
|
Q1-08
|
Q2-07
|
2007
|
2006
|
|
Commercial and Industrial
|
89.4
|
89.5
|
91.3
|
90.6
|
84.3
|
|
Commercial Real Estate
|
67.4
|
63.1
|
63.4
|
54.2
|
74.3
|
|
Construction & Development
|
11.5
|
10.5
|
8.6
|
11.3
|
9.8
|
|
Multifamily Residential Real Estate
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
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Nonresidential Real Estate
|
38.0
|
37.1
|
36.9
|
35.2
|
39.5
|
|
Residential Real Estate
|
36.9
|
36.9
|
35.8
|
37.0
|
33.3
|
|
Consumer
|
39.6
|
39.5
|
36.3
|
39.8
|
40.1
|
|
Agriculture
|
250.5
|
235.2
|
260.5
|
236.8
|
232.6
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BANKING PROFILE
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