South Dakota - 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)
|
1.4%
|
1.2%
|
2.1%
|
2.0%
|
2.2%
|
|
Manufacturing (10%)
|
3.7%
|
1.7%
|
-0.5%
|
1.0%
|
4.5%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
1.4%
|
3.0%
|
2.0%
|
1.4%
|
3.8%
|
|
Private Service-Producing (65%)
|
1.4%
|
1.1%
|
2.7%
|
2.6%
|
2.3%
|
|
Government (18%)
|
0.2%
|
0.8%
|
1.3%
|
0.4%
|
0.0%
|
|
Unemployment Rate (% of labor force)
|
3.2%
|
2.8%
|
2.9%
|
3.0%
|
3.1%
|
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|
|
|
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Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-11.6%
|
1.9%
|
-11.7%
|
-14.3%
|
-9.1%
|
|
Multifamily Building Permits
|
69.3%
|
-43.3%
|
24.7%
|
-10.5%
|
68.7%
|
|
Home Price Index
|
3.9%
|
3.8%
|
4.2%
|
5.1%
|
5.4%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.80
|
1.83
|
1.56
|
1.60
|
1.14
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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 (#)
|
88
|
89
|
88
|
89
|
89
|
|
Total Assets (in millions)
|
619,527
|
604,786
|
543,517
|
571,576
|
499,029
|
|
New Institutions (# < 3 years)
|
2
|
2
|
1
|
2
|
1
|
|
Subchapter S Institutions
|
38
|
38
|
39
|
40
|
37
|
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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 %)
|
1.67
|
1.71
|
1.60
|
1.59
|
1.68
|
|
ALLL/Total Loans (median %)
|
1.23
|
1.25
|
1.31
|
1.30
|
1.37
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.55
|
1.70
|
2.28
|
2.21
|
2.13
|
|
Net Loan Losses / Total Loans (median %)
|
0.03
|
0.06
|
0.00
|
0.10
|
0.08
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
10.28
|
10.21
|
10.72
|
10.40
|
10.76
|
|
Return on Assets (median %)
|
1.06
|
1.10
|
1.37
|
1.26
|
1.44
|
|
Pretax Return on Assets (median %)
|
1.42
|
1.40
|
1.72
|
1.55
|
1.74
|
|
Net Interest Margin (median %)
|
4.27
|
4.07
|
4.46
|
4.49
|
4.54
|
|
Yield on Earning Assets (median %)
|
6.71
|
6.69
|
7.66
|
7.62
|
7.34
|
|
Cost of Funding Earning Assets (median %)
|
2.42
|
2.54
|
3.26
|
3.19
|
2.71
|
|
Provisions to Avg. Assets (median %)
|
0.04
|
0.05
|
0.00
|
0.08
|
0.09
|
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Noninterest Income to Avg. Assets (median %)
|
0.58
|
0.59
|
0.63
|
0.63
|
0.66
|
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Overhead to Avg. Assets (median %)
|
2.90
|
2.95
|
3.05
|
3.12
|
3.10
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|
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
70.0
|
68.6
|
71.8
|
70.6
|
70.8
|
|
Noncore Funding to Assets (median %)
|
21.2
|
20.0
|
19.6
|
17.3
|
18.7
|
|
Long-term Assets to Assets (median %, call filers)
|
15.0
|
15.5
|
12.6
|
13.2
|
11.8
|
|
Brokered Deposits (number of institutions)
|
33
|
30
|
34
|
30
|
34
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|
Brokered Deposits to Assets (median % for those above)
|
2.8
|
2.4
|
4.0
|
2.9
|
4.0
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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
|
92.4
|
89.4
|
91.3
|
90.6
|
84.3
|
|
Commercial Real Estate
|
66.4
|
67.4
|
54.7
|
54.2
|
74.3
|
|
Construction & Development
|
13.0
|
11.5
|
9.9
|
11.3
|
9.8
|
|
Multifamily Residential Real Estate
|
0.1
|
0.0
|
0.0
|
0.0
|
0.0
|
|
Nonresidential Real Estate
|
38.8
|
38.0
|
36.3
|
35.2
|
39.5
|
|
Residential Real Estate
|
41.3
|
36.9
|
38.3
|
37.0
|
33.3
|
|
Consumer
|
39.6
|
39.6
|
39.7
|
39.8
|
40.1
|
|
Agriculture
|
252.7
|
250.5
|
255.1
|
236.8
|
232.6
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BANKING PROFILE
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