Florida - Third Quarter 2008
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-1.2%
|
-1.1%
|
-0.1%
|
0.5%
|
2.6%
|
|
Manufacturing (5%)
|
-5.8%
|
-6.2%
|
-4.8%
|
-4.1%
|
0.2%
|
|
Other (non-manufacturing) Goods-Producing (7%)
|
-12.8%
|
-13.1%
|
-10.5%
|
-8.2%
|
7.2%
|
|
Private Service-Producing (74%)
|
-0.2%
|
0.0%
|
0.9%
|
1.4%
|
2.4%
|
|
Government (14%)
|
1.0%
|
1.3%
|
2.5%
|
2.3%
|
1.7%
|
|
Unemployment Rate (% of labor force)
|
6.5%
|
5.4%
|
4.2%
|
4.0%
|
3.4%
|
| |
|
|
|
|
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Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-40.8%
|
-47.7%
|
-46.1%
|
-50.9%
|
-27.1%
|
|
Multifamily Building Permits
|
-13.1%
|
-25.6%
|
-49.8%
|
-41.4%
|
-23.3%
|
|
Home Price Index
|
-16.0%
|
-12.9%
|
-3.0%
|
-0.9%
|
16.9%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.64
|
3.21
|
2.26
|
2.16
|
1.37
|
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|
|
|
|
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BANKING TRENDS
|
|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
311
|
311
|
315
|
317
|
306
|
|
Total Assets (in millions)
|
166,577
|
162,352
|
161,851
|
160,190
|
165,813
|
|
New Institutions (# < 3 years)
|
60
|
64
|
64
|
66
|
57
|
|
Subchapter S Institutions
|
79
|
79
|
78
|
78
|
76
|
| |
|
|
|
|
|
|
Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
3.74
|
3.14
|
1.43
|
1.98
|
0.62
|
|
ALLL/Total Loans (median %)
|
1.27
|
1.25
|
1.16
|
1.20
|
1.16
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.52
|
0.60
|
1.14
|
0.94
|
3.55
|
|
Net Loan Losses / Total Loans (median %)
|
0.25
|
0.10
|
0.00
|
0.07
|
0.00
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.92
|
9.97
|
10.10
|
10.07
|
9.77
|
|
Return on Assets (median %)
|
-0.28
|
0.03
|
0.56
|
0.44
|
0.91
|
|
Pretax Return on Assets (median %)
|
-0.40
|
0.07
|
0.75
|
0.64
|
1.36
|
|
Net Interest Margin (median %)
|
3.47
|
3.47
|
3.95
|
3.83
|
4.10
|
|
Yield on Earning Assets (median %)
|
6.14
|
6.21
|
7.45
|
7.31
|
7.09
|
|
Cost of Funding Earning Assets (median %)
|
2.75
|
2.72
|
3.61
|
3.46
|
2.93
|
|
Provisions to Avg. Assets (median %)
|
0.60
|
0.50
|
0.17
|
0.26
|
0.14
|
|
Noninterest Income to Avg. Assets (median %)
|
0.30
|
0.34
|
0.37
|
0.38
|
0.48
|
|
Overhead to Avg. Assets (median %)
|
3.18
|
3.16
|
3.08
|
3.16
|
3.05
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|
|
|
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
75.7
|
75.0
|
73.1
|
74.6
|
74.2
|
|
Noncore Funding to Assets (median %)
|
34.6
|
32.9
|
29.5
|
30.7
|
29.2
|
|
Long-term Assets to Assets (median %, call filers)
|
15.5
|
15.5
|
12.7
|
12.5
|
11.2
|
|
Brokered Deposits (number of institutions)
|
204
|
187
|
164
|
171
|
150
|
|
Brokered Deposits to Assets (median % for those above)
|
9.4
|
7.2
|
5.3
|
6.5
|
6.3
|
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|
|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Commercial and Industrial
|
60.6
|
60.4
|
54.0
|
55.7
|
53.8
|
|
Commercial Real Estate
|
431.3
|
421.4
|
417.4
|
401.0
|
411.7
|
|
Construction & Development
|
113.2
|
120.8
|
132.5
|
124.9
|
122.9
|
|
Multifamily Residential Real Estate
|
15.0
|
15.1
|
10.7
|
11.9
|
11.9
|
|
Nonresidential Real Estate
|
231.4
|
218.2
|
198.8
|
206.5
|
199.9
|
|
Residential Real Estate
|
140.8
|
136.6
|
132.4
|
126.4
|
138.5
|
|
Consumer
|
8.3
|
8.2
|
9.4
|
9.2
|
10.5
|
|
Agriculture
|
0.5
|
0.1
|
0.1
|
0.0
|
0.1
|
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BANKING PROFILE
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