Vermont - 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)
|
-0.2%
|
0.1%
|
0.0%
|
0.0%
|
0.7%
|
|
Manufacturing (12%)
|
-2.0%
|
-1.0%
|
-1.0%
|
-0.8%
|
-1.6%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
-3.4%
|
-3.5%
|
-4.0%
|
-3.2%
|
3.1%
|
|
Private Service-Producing (65%)
|
0.4%
|
0.6%
|
0.4%
|
0.3%
|
0.8%
|
|
Government (18%)
|
0.4%
|
0.2%
|
0.5%
|
0.6%
|
1.2%
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|
Unemployment Rate (% of labor force)
|
5.0%
|
4.7%
|
3.8%
|
3.9%
|
3.7%
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Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-16.7%
|
-39.2%
|
-36.5%
|
-31.5%
|
-7.9%
|
|
Multifamily Building Permits
|
-44.2%
|
153.1%
|
18.6%
|
-25.5%
|
13.7%
|
|
Home Price Index
|
0.0%
|
1.6%
|
3.9%
|
3.9%
|
9.1%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
1.90
|
2.04
|
1.48
|
1.34
|
1.00
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BANKING TRENDS
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|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
15
|
15
|
17
|
16
|
19
|
|
Total Assets (in millions)
|
8,595
|
8,455
|
8,184
|
8,244
|
8,610
|
|
New Institutions (# < 3 years)
|
0
|
0
|
0
|
0
|
0
|
|
Subchapter S Institutions
|
0
|
0
|
0
|
0
|
0
|
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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 %)
|
1.94
|
2.15
|
1.38
|
2.06
|
1.41
|
|
ALLL/Total Loans (median %)
|
1.13
|
1.09
|
1.10
|
1.10
|
1.11
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.14
|
1.35
|
1.54
|
1.65
|
2.19
|
|
Net Loan Losses / Total Loans (median %)
|
0.08
|
0.07
|
0.07
|
0.05
|
0.02
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|
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Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
8.74
|
8.87
|
9.15
|
9.12
|
8.82
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Return on Assets (median %)
|
0.66
|
0.79
|
0.86
|
0.80
|
0.83
|
|
Pretax Return on Assets (median %)
|
0.89
|
0.95
|
1.14
|
0.95
|
1.06
|
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Net Interest Margin (median %)
|
4.28
|
4.17
|
4.25
|
4.16
|
4.36
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Yield on Earning Assets (median %)
|
6.30
|
6.35
|
6.97
|
6.91
|
6.59
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Cost of Funding Earning Assets (median %)
|
1.92
|
2.06
|
2.53
|
2.41
|
2.08
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Provisions to Avg. Assets (median %)
|
0.09
|
0.06
|
0.05
|
0.06
|
0.06
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Noninterest Income to Avg. Assets (median %)
|
0.85
|
0.84
|
0.73
|
0.78
|
0.86
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Overhead to Avg. Assets (median %)
|
3.97
|
3.85
|
3.76
|
3.77
|
3.62
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
76.2
|
75.0
|
74.4
|
73.9
|
72.2
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Noncore Funding to Assets (median %)
|
20.0
|
20.8
|
16.8
|
17.8
|
16.1
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Long-term Assets to Assets (median %, call filers)
|
36.4
|
37.8
|
30.9
|
29.3
|
23.9
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Brokered Deposits (number of institutions)
|
8
|
7
|
11
|
9
|
11
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Brokered Deposits to Assets (median % for those above)
|
2.0
|
1.8
|
1.0
|
0.6
|
1.5
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Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
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Commercial and Industrial
|
74.2
|
76.0
|
75.4
|
67.6
|
67.8
|
|
Commercial Real Estate
|
274.9
|
269.6
|
277.0
|
248.1
|
248.7
|
|
Construction & Development
|
42.4
|
39.5
|
39.2
|
37.7
|
36.9
|
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Multifamily Residential Real Estate
|
22.3
|
26.4
|
22.3
|
18.5
|
15.7
|
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Nonresidential Real Estate
|
210.0
|
220.2
|
220.8
|
201.5
|
206.6
|
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Residential Real Estate
|
423.0
|
411.9
|
401.8
|
381.6
|
349.8
|
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Consumer
|
24.5
|
26.4
|
25.5
|
23.6
|
26.8
|
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Agriculture
|
5.7
|
3.8
|
3.4
|
4.8
|
5.8
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BANKING PROFILE
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