Mississippi - 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)
|
-0.4%
|
0.3%
|
0.8%
|
1.0%
|
1.0%
|
|
Manufacturing (14%)
|
-3.6%
|
-3.6%
|
-3.6%
|
-3.4%
|
-1.4%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
0.4%
|
0.5%
|
-0.4%
|
0.8%
|
10.2%
|
|
Private Service-Producing (59%)
|
0.2%
|
1.0%
|
1.7%
|
1.9%
|
1.3%
|
|
Government (21%)
|
0.1%
|
1.0%
|
1.9%
|
1.8%
|
-0.6%
|
|
Unemployment Rate (% of labor force)
|
7.8%
|
6.6%
|
6.3%
|
6.3%
|
6.8%
|
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|
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|
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Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-40.8%
|
-30.9%
|
-24.9%
|
-22.3%
|
18.0%
|
|
Multifamily Building Permits
|
33.8%
|
-72.7%
|
42.8%
|
209.1%
|
-4.7%
|
|
Home Price Index
|
0.1%
|
2.9%
|
4.9%
|
6.2%
|
9.2%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
4.13
|
3.55
|
3.89
|
3.75
|
2.98
|
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|
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BANKING TRENDS
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|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
97
|
98
|
98
|
97
|
98
|
|
Total Assets (in millions)
|
56,072
|
56,141
|
53,904
|
54,406
|
50,613
|
|
New Institutions (# < 3 years)
|
2
|
2
|
1
|
1
|
1
|
|
Subchapter S Institutions
|
27
|
27
|
27
|
27
|
24
|
| |
|
|
|
|
|
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Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.44
|
2.35
|
1.91
|
2.24
|
2.16
|
|
ALLL/Total Loans (median %)
|
1.22
|
1.22
|
1.27
|
1.21
|
1.34
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.72
|
1.60
|
2.39
|
1.92
|
2.52
|
|
Net Loan Losses / Total Loans (median %)
|
0.16
|
0.15
|
0.13
|
0.17
|
0.12
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.73
|
9.76
|
9.87
|
9.79
|
9.68
|
|
Return on Assets (median %)
|
0.87
|
0.95
|
1.19
|
1.09
|
1.20
|
|
Pretax Return on Assets (median %)
|
1.18
|
1.27
|
1.54
|
1.32
|
1.48
|
|
Net Interest Margin (median %)
|
4.07
|
3.87
|
4.13
|
4.05
|
4.26
|
|
Yield on Earning Assets (median %)
|
6.39
|
6.43
|
7.55
|
7.39
|
6.94
|
|
Cost of Funding Earning Assets (median %)
|
2.33
|
2.53
|
3.25
|
3.13
|
2.65
|
|
Provisions to Avg. Assets (median %)
|
0.18
|
0.13
|
0.10
|
0.15
|
0.11
|
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Noninterest Income to Avg. Assets (median %)
|
0.91
|
0.87
|
0.96
|
0.97
|
0.89
|
|
Overhead to Avg. Assets (median %)
|
3.29
|
3.13
|
3.12
|
3.19
|
3.18
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|
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
65.8
|
64.4
|
64.0
|
62.9
|
62.7
|
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Noncore Funding to Assets (median %)
|
27.2
|
26.6
|
26.0
|
26.1
|
24.2
|
|
Long-term Assets to Assets (median %, call filers)
|
14.6
|
16.0
|
13.0
|
13.8
|
11.9
|
|
Brokered Deposits (number of institutions)
|
39
|
32
|
27
|
29
|
24
|
|
Brokered Deposits to Assets (median % for those above)
|
2.1
|
1.7
|
2.1
|
2.2
|
2.6
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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
|
69.6
|
70.7
|
70.7
|
74.0
|
72.1
|
|
Commercial Real Estate
|
233.2
|
218.0
|
198.6
|
211.7
|
197.2
|
|
Construction & Development
|
59.4
|
59.5
|
52.1
|
52.5
|
45.8
|
|
Multifamily Residential Real Estate
|
5.2
|
4.3
|
2.9
|
3.7
|
2.5
|
|
Nonresidential Real Estate
|
143.0
|
140.5
|
129.1
|
136.2
|
146.2
|
|
Residential Real Estate
|
171.6
|
179.0
|
172.2
|
178.0
|
173.1
|
|
Consumer
|
59.7
|
60.9
|
61.0
|
65.1
|
63.6
|
|
Agriculture
|
41.3
|
42.0
|
36.5
|
35.1
|
28.5
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BANKING PROFILE
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