Iowa - Third 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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Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
0.4%
|
0.5%
|
0.9%
|
0.8%
|
1.6%
|
|
Manufacturing (15%)
|
-0.9%
|
0.4%
|
-0.4%
|
-0.7%
|
0.9%
|
|
Other (non-manufacturing) Goods-Producing (5%)
|
-0.8%
|
0.1%
|
-2.3%
|
-2.6%
|
4.2%
|
|
Private Service-Producing (63%)
|
0.6%
|
0.4%
|
1.5%
|
1.4%
|
1.8%
|
|
Government (17%)
|
1.1%
|
1.3%
|
1.2%
|
1.1%
|
0.8%
|
|
Unemployment Rate (% of labor force)
|
4.3%
|
3.8%
|
3.8%
|
3.8%
|
3.8%
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|
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Other Indicators
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Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-33.7%
|
-32.6%
|
-7.8%
|
-16.4%
|
-21.7%
|
|
Multifamily Building Permits
|
-36.8%
|
-32.6%
|
30.6%
|
-16.3%
|
-28.2%
|
|
Home Price Index
|
0.7%
|
1.9%
|
3.1%
|
3.3%
|
3.2%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.66
|
2.71
|
2.35
|
2.27
|
1.58
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BANKING TRENDS
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|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
380
|
383
|
394
|
391
|
401
|
|
Total Assets (in millions)
|
61,750
|
60,773
|
58,560
|
59,607
|
56,560
|
|
New Institutions (# < 3 years)
|
2
|
2
|
5
|
5
|
5
|
|
Subchapter S Institutions
|
222
|
222
|
223
|
222
|
219
|
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|
|
|
|
|
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Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.83
|
1.91
|
1.65
|
1.54
|
1.37
|
|
ALLL/Total Loans (median %)
|
1.14
|
1.15
|
1.13
|
1.12
|
1.17
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.10
|
1.13
|
1.68
|
1.72
|
2.49
|
|
Net Loan Losses / Total Loans (median %)
|
0.04
|
0.02
|
0.01
|
0.08
|
0.03
|
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|
|
|
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Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.20
|
9.05
|
9.51
|
9.17
|
9.33
|
|
Return on Assets (median %)
|
1.14
|
1.06
|
1.08
|
1.00
|
1.01
|
|
Pretax Return on Assets (median %)
|
1.39
|
1.31
|
1.33
|
1.23
|
1.24
|
|
Net Interest Margin (median %)
|
3.75
|
3.55
|
3.58
|
3.58
|
3.62
|
|
Yield on Earning Assets (median %)
|
6.17
|
6.13
|
6.84
|
6.73
|
6.42
|
|
Cost of Funding Earning Assets (median %)
|
2.41
|
2.58
|
3.24
|
3.17
|
2.80
|
|
Provisions to Avg. Assets (median %)
|
0.08
|
0.08
|
0.03
|
0.07
|
0.07
|
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Noninterest Income to Avg. Assets (median %)
|
0.53
|
0.53
|
0.54
|
0.55
|
0.54
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|
Overhead to Avg. Assets (median %)
|
2.49
|
2.42
|
2.53
|
2.51
|
2.57
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
69.0
|
68.0
|
69.5
|
68.4
|
68.1
|
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Noncore Funding to Assets (median %)
|
19.2
|
18.6
|
19.4
|
18.2
|
18.7
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Long-term Assets to Assets (median %, call filers)
|
17.5
|
17.4
|
15.0
|
15.6
|
14.4
|
|
Brokered Deposits (number of institutions)
|
140
|
144
|
155
|
153
|
152
|
|
Brokered Deposits to Assets (median % for those above)
|
2.2
|
2.0
|
2.8
|
2.3
|
2.9
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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
|
97.7
|
99.2
|
95.8
|
95.5
|
97.4
|
|
Commercial Real Estate
|
107.1
|
108.2
|
113.8
|
108.6
|
114.8
|
|
Construction & Development
|
19.8
|
18.6
|
19.1
|
20.2
|
19.6
|
|
Multifamily Residential Real Estate
|
3.0
|
3.2
|
2.9
|
3.0
|
3.1
|
|
Nonresidential Real Estate
|
74.5
|
75.8
|
75.6
|
76.3
|
77.3
|
|
Residential Real Estate
|
137.1
|
137.8
|
137.2
|
140.6
|
143.7
|
|
Consumer
|
30.1
|
31.4
|
33.7
|
33.0
|
34.9
|
|
Agriculture
|
223.9
|
227.9
|
232.4
|
225.6
|
218.6
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BANKING PROFILE
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