Rhode Island - 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)
|
-2.7%
|
-2.3%
|
-0.3%
|
-0.1%
|
0.5%
|
|
Manufacturing (10%)
|
-6.2%
|
-5.7%
|
-3.3%
|
-3.6%
|
-4.0%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-4.7%
|
-5.7%
|
-5.2%
|
-3.2%
|
4.7%
|
|
Private Service-Producing (72%)
|
-2.0%
|
-2.0%
|
0.5%
|
0.7%
|
1.0%
|
|
Government (13%)
|
-2.8%
|
-0.4%
|
-0.2%
|
-0.5%
|
0.0%
|
|
Unemployment Rate (% of labor force)
|
8.4%
|
6.9%
|
5.1%
|
5.0%
|
5.1%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-34.6%
|
-40.7%
|
-5.3%
|
-9.9%
|
-11.5%
|
|
Multifamily Building Permits
|
-32.3%
|
170.0%
|
-31.9%
|
-40.3%
|
-45.5%
|
|
Home Price Index
|
-8.0%
|
-5.0%
|
-2.5%
|
-1.5%
|
4.9%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.97
|
4.10
|
2.79
|
2.56
|
1.48
|
| |
|
|
|
|
|
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BANKING TRENDS
|
|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
13
|
13
|
13
|
13
|
13
|
|
Total Assets (in millions)
|
176,623
|
179,062
|
174,781
|
171,962
|
29,639
|
|
New Institutions (# < 3 years)
|
0
|
0
|
2
|
2
|
1
|
|
Subchapter S Institutions
|
1
|
1
|
1
|
1
|
1
|
| |
|
|
|
|
|
|
Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.65
|
1.24
|
0.87
|
1.19
|
0.73
|
|
ALLL/Total Loans (median %)
|
1.31
|
1.18
|
1.01
|
1.06
|
1.25
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.19
|
1.59
|
1.45
|
1.24
|
3.03
|
|
Net Loan Losses / Total Loans (median %)
|
0.14
|
0.17
|
0.03
|
0.04
|
0.02
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.40
|
9.64
|
11.33
|
10.77
|
12.34
|
|
Return on Assets (median %)
|
0.07
|
0.61
|
0.43
|
0.42
|
0.59
|
|
Pretax Return on Assets (median %)
|
0.05
|
0.77
|
0.67
|
0.52
|
0.87
|
|
Net Interest Margin (median %)
|
3.07
|
3.23
|
3.12
|
3.10
|
3.04
|
|
Yield on Earning Assets (median %)
|
5.86
|
5.79
|
6.36
|
6.26
|
6.01
|
|
Cost of Funding Earning Assets (median %)
|
2.77
|
2.63
|
3.32
|
3.35
|
2.99
|
|
Provisions to Avg. Assets (median %)
|
0.16
|
0.19
|
0.05
|
0.08
|
0.04
|
|
Noninterest Income to Avg. Assets (median %)
|
0.61
|
0.65
|
0.87
|
1.09
|
1.16
|
|
Overhead to Avg. Assets (median %)
|
3.00
|
3.04
|
3.09
|
2.92
|
3.02
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
70.6
|
70.1
|
66.7
|
67.9
|
61.0
|
|
Noncore Funding to Assets (median %)
|
32.0
|
29.5
|
28.0
|
30.9
|
28.7
|
|
Long-term Assets to Assets (median %, call filers)
|
42.3
|
45.9
|
41.7
|
45.4
|
35.2
|
|
Brokered Deposits (number of institutions)
|
5
|
5
|
5
|
5
|
4
|
|
Brokered Deposits to Assets (median % for those above)
|
7.6
|
4.2
|
1.9
|
1.9
|
5.0
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Commercial and Industrial
|
15.6
|
14.5
|
28.4
|
21.8
|
35.1
|
|
Commercial Real Estate
|
119.4
|
118.4
|
112.1
|
110.2
|
69.7
|
|
Construction & Development
|
20.6
|
16.7
|
8.8
|
9.0
|
8.4
|
|
Multifamily Residential Real Estate
|
1.3
|
1.8
|
2.0
|
1.9
|
2.2
|
|
Nonresidential Real Estate
|
113.4
|
75.8
|
82.1
|
77.3
|
33.1
|
|
Residential Real Estate
|
357.7
|
366.6
|
359.2
|
381.1
|
204.8
|
|
Consumer
|
2.4
|
2.2
|
2.1
|
2.1
|
2.8
|
|
Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
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BANKING PROFILE
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