Minnesota - 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)
|
-0.3%
|
0.4%
|
0.6%
|
0.5%
|
1.3%
|
|
Manufacturing (12%)
|
-2.6%
|
-1.3%
|
-1.5%
|
-1.3%
|
-0.5%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-4.5%
|
-5.4%
|
-4.2%
|
-5.3%
|
-1.4%
|
|
Private Service-Producing (68%)
|
0.1%
|
0.8%
|
1.6%
|
1.4%
|
2.0%
|
|
Government (15%)
|
0.9%
|
1.4%
|
-0.4%
|
-0.3%
|
0.3%
|
|
Unemployment Rate (% of labor force)
|
6.0%
|
5.2%
|
4.5%
|
4.6%
|
4.1%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-35.4%
|
-39.0%
|
-29.7%
|
-36.1%
|
-26.8%
|
|
Multifamily Building Permits
|
-39.6%
|
-5.7%
|
-23.4%
|
-32.0%
|
-13.9%
|
|
Home Price Index
|
-4.3%
|
-2.6%
|
-0.1%
|
0.6%
|
3.6%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.14
|
3.10
|
2.16
|
2.19
|
1.48
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
433
|
437
|
445
|
443
|
448
|
|
Total Assets (in millions)
|
76,706
|
77,011
|
99,425
|
105,167
|
80,039
|
|
New Institutions (# < 3 years)
|
9
|
11
|
11
|
11
|
13
|
|
Subchapter S Institutions
|
298
|
302
|
303
|
302
|
296
|
| |
|
|
|
|
|
|
Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.98
|
2.91
|
2.35
|
2.39
|
1.97
|
|
ALLL/Total Loans (median %)
|
1.27
|
1.27
|
1.27
|
1.25
|
1.27
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.80
|
0.80
|
1.12
|
1.11
|
1.51
|
|
Net Loan Losses / Total Loans (median %)
|
0.14
|
0.05
|
0.03
|
0.14
|
0.06
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.46
|
9.35
|
9.63
|
9.57
|
9.65
|
|
Return on Assets (median %)
|
0.92
|
0.93
|
1.16
|
1.04
|
1.22
|
|
Pretax Return on Assets (median %)
|
1.10
|
1.12
|
1.34
|
1.21
|
1.43
|
|
Net Interest Margin (median %)
|
4.11
|
4.02
|
4.18
|
4.14
|
4.34
|
|
Yield on Earning Assets (median %)
|
6.46
|
6.51
|
7.42
|
7.26
|
7.04
|
|
Cost of Funding Earning Assets (median %)
|
2.34
|
2.48
|
3.16
|
3.07
|
2.73
|
|
Provisions to Avg. Assets (median %)
|
0.20
|
0.14
|
0.10
|
0.15
|
0.12
|
|
Noninterest Income to Avg. Assets (median %)
|
0.52
|
0.52
|
0.53
|
0.55
|
0.55
|
|
Overhead to Avg. Assets (median %)
|
3.01
|
3.05
|
2.99
|
3.04
|
3.02
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
73.0
|
72.7
|
73.0
|
71.6
|
72.2
|
|
Noncore Funding to Assets (median %)
|
19.3
|
18.6
|
16.9
|
16.9
|
17.1
|
|
Long-term Assets to Assets (median %, call filers)
|
12.7
|
12.2
|
9.3
|
9.7
|
9.0
|
|
Brokered Deposits (number of institutions)
|
195
|
195
|
204
|
201
|
226
|
|
Brokered Deposits to Assets (median % for those above)
|
5.2
|
4.4
|
5.1
|
5.0
|
5.4
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Commercial and Industrial
|
113.4
|
121.4
|
114.6
|
116.0
|
115.3
|
|
Commercial Real Estate
|
213.4
|
206.0
|
208.6
|
206.4
|
216.6
|
|
Construction & Development
|
40.1
|
40.6
|
39.6
|
40.3
|
37.1
|
|
Multifamily Residential Real Estate
|
3.5
|
3.5
|
3.1
|
2.7
|
2.8
|
|
Nonresidential Real Estate
|
148.2
|
144.7
|
138.9
|
138.6
|
144.9
|
|
Residential Real Estate
|
157.8
|
150.0
|
147.5
|
147.0
|
147.4
|
|
Consumer
|
33.5
|
34.1
|
36.6
|
35.2
|
37.6
|
|
Agriculture
|
81.3
|
80.9
|
79.9
|
77.5
|
79.4
|
| |
|
|
|
|
|
|
BANKING PROFILE
|
