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FDIC State Profiles
 

Washington - Third Quarter 2008

ECONOMIC INDICATORS (Change from year ago, unless noted)
Employment Growth Rates Q3-08 Q2-08 Q3-07 2007 2006
Total Nonfarm (share of trailing four quarter employment in parentheses) 0.9% 1.2% 2.6% 2.5% 3.0%
  Manufacturing (10%) 1.2% 2.0% 2.5% 2.6% 4.9%
  Other (non-manufacturing) Goods-Producing (7%) -3.5% -1.7% 5.3% 6.0% 9.3%
  Private Service-Producing (65%) 1.1% 1.4% 2.7% 2.7% 2.7%
  Government (18%) 2.2% 1.5% 1.0% 0.5% 0.6%
Unemployment Rate (% of labor force) 5.8% 5.1% 4.6% 4.5% 4.9%
           
Other Indicators Q3-08 Q2-08 Q3-07 2007 2006
Single-Family Home Permits -38.1% -41.0% -17.6% -14.8% -17.0%
Multifamily Building Permits -42.1% 4.0% -14.1% 15.0% 19.3%
Home Price Index -2.1% 0.5% 6.5% 8.0% 16.1%
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level) 3.39 3.16 2.38 2.33 1.81
           
BANKING TRENDS
General Information Q3-08 Q2-08 Q3-07 2007 2006
Institutions (#) 97 97 98 97 99
Total Assets (in millions) 78,465 78,167 72,735 75,048 65,464
New Institutions (# < 3 years) 11 11 14 13 14
Subchapter S Institutions 13 13 11 11 10
           
Asset Quality Q3-08 Q2-08 Q3-07 2007 2006
Past-Due and Nonaccrual Loans / Total Loans (median %) 2.17 2.01 0.70 1.42 0.54
ALLL/Total Loans (median %) 1.41 1.33 1.24 1.26 1.25
ALLL/Noncurrent Loans (median multiple) 0.71 1.09 3.22 1.59 3.48
Net Loan Losses / Total Loans (median %) 0.15 0.08 0.00 0.03 0.02
           
Capital / Earnings Q3-08 Q2-08 Q3-07 2007 2006
Tier 1 Leverage (median %) 9.77 10.02 10.11 10.13 9.92
Return on Assets (median %) 0.25 0.55 1.17 0.96 1.06
Pretax Return on Assets (median %) 0.36 0.82 1.58 1.21 1.56
Net Interest Margin (median %) 4.08 4.09 4.79 4.69 4.84
Yield on Earning Assets (median %) 6.62 6.77 8.29 7.96 7.61
Cost of Funding Earning Assets (median %) 2.65 2.75 3.50 3.40 2.84
Provisions to Avg. Assets (median %) 0.48 0.44 0.19 0.22 0.20
Noninterest Income to Avg. Assets (median %) 0.42 0.45 0.50 0.47 0.53
Overhead to Avg. Assets (median %) 3.34 3.28 3.29 3.35 3.45
           
Liquidity / Sensitivity Q3-08 Q2-08 Q3-07 2007 2006
Loans to Assets (median %) 83.7 84.4 82.4 82.8 78.2
Noncore Funding to Assets (median %) 33.3 32.3 27.5 29.2 28.7
Long-term Assets to Assets (median %, call filers) 12.8 12.4 10.8 11.5 9.2
Brokered Deposits (number of institutions) 68 66 62 64 55
  Brokered Deposits to Assets (median % for those above) 10.0 7.6 6.5 7.0 5.7
           
Loan Concentrations (median % of Tier 1 Capital) Q3-08 Q2-08 Q3-07 2007 2006
Commercial and Industrial 115.7 120.5 109.0 117.0 117.6
Commercial Real Estate 496.0 459.0 439.3 456.7 418.4
  Construction & Development 180.6 176.8 160.9 172.0 133.3
  Multifamily Residential Real Estate 23.6 23.5 20.8 19.0 20.7
  Nonresidential Real Estate 238.4 224.1 210.7 211.9 207.1
Residential Real Estate 102.1 95.8 79.2 83.2 78.1
Consumer 14.0 13.4 15.3 12.8 17.0
Agriculture 4.3 3.7 3.6 2.3 4.2
           
BANKING PROFILE
Largest Deposit Markets (from 2007 Summary of Deposits) Institutions in Market Deposits ($ millions)       Asset Distribution Institutions
Seattle-Tacoma-Bellevue, WA 80 72,404   < $250 million 48 (49.5% )
Portland-Vancouver-Beaverton, OR-WA 43 29,583   $250 million to $1 billion 33 (34% )
Spokane, WA 18 7,149   $1 billion to $10 billion 14 (14.4% )
Olympia, WA 20 3,081   > $10 billion 2 (2.1% )
Bellingham, WA 17 3,049  
           
 
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