South Carolina at a Glance
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
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Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-4.4%
|
-2.9%
|
0.6%
|
-0.9%
|
2.0%
|
|
Manufacturing (12%)
|
-9.4%
|
-5.1%
|
-1.5%
|
-3.0%
|
-1.0%
|
|
Other (non-manufacturing) Goods-Producing (6%)
|
-9.0%
|
-9.0%
|
-7.2%
|
-8.6%
|
0.1%
|
|
Private Service-Producing (63%)
|
-3.9%
|
-2.7%
|
1.2%
|
-0.4%
|
2.8%
|
|
Government (18%)
|
-1.0%
|
0.5%
|
2.8%
|
2.2%
|
1.8%
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|
Unemployment Rate (% of labor force)
|
10.9%
|
8.3%
|
5.8%
|
6.9%
|
5.6%
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|
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|
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Other Indicators
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Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Single-Family Home Permits
|
-47.4%
|
-48.2%
|
-38.9%
|
-36.4%
|
-23.7%
|
|
Multifamily Building Permits
|
-55.6%
|
-65.6%
|
2.5%
|
-24.4%
|
-14.2%
|
|
Home Price Index
|
0.1%
|
0.7%
|
3.6%
|
2.2%
|
5.4%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.07
|
2.04
|
1.67
|
1.84
|
1.62
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BANKING TRENDS
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General Information
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Institutions (#)
|
88
|
88
|
93
|
88
|
93
|
|
Total Assets (in millions)
|
56,770
|
55,944
|
54,503
|
55,944
|
52,953
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New Institutions (# < 3 years)
|
7
|
12
|
13
|
12
|
14
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|
Subchapter S Institutions
|
5
|
5
|
5
|
5
|
5
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|
|
|
|
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Asset Quality
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
4.18
|
3.45
|
2.06
|
3.45
|
1.53
|
|
ALLL/Total Loans (median %)
|
1.42
|
1.36
|
1.21
|
1.36
|
1.17
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|
ALLL/Noncurrent Loans (median multiple)
|
0.58
|
0.71
|
1.24
|
0.71
|
1.64
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Net Loan Losses / Total Loans (median %)
|
0.30
|
0.38
|
0.04
|
0.25
|
0.08
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|
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Capital / Earnings
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
|
|
Tier 1 Leverage (median %)
|
9.13
|
9.37
|
9.59
|
9.37
|
9.71
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Return on Assets (median %)
|
0.37
|
0.11
|
0.64
|
0.35
|
0.83
|
|
Pretax Return on Assets (median %)
|
0.47
|
-0.04
|
0.88
|
0.42
|
1.25
|
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Net Interest Margin (median %)
|
3.31
|
3.29
|
3.54
|
3.49
|
3.97
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Yield on Earning Assets (median %)
|
5.58
|
5.93
|
6.76
|
6.29
|
7.36
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Cost of Funding Earning Assets (median %)
|
2.45
|
2.68
|
3.29
|
2.90
|
3.53
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Provisions to Avg. Assets (median %)
|
0.41
|
0.71
|
0.18
|
0.47
|
0.19
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Noninterest Income to Avg. Assets (median %)
|
0.56
|
0.52
|
0.68
|
0.61
|
0.69
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Overhead to Avg. Assets (median %)
|
2.88
|
3.04
|
2.99
|
2.99
|
3.10
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Liquidity / Sensitivity
|
Q1-09
|
Q4-08
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Q1-08
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2008
|
2007
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Loans to Assets (median %)
|
75.3
|
77.2
|
75.5
|
77.2
|
75.9
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Noncore Funding to Assets (median %)
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32.6
|
33.8
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30.6
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33.8
|
28.5
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Long-term Assets to Assets (median %, call filers)
|
15.1
|
16.2
|
15.7
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16.2
|
14.4
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Brokered Deposits (number of institutions)
|
52
|
53
|
46
|
53
|
45
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Brokered Deposits to Assets (median % for those above)
|
14.0
|
14.1
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11.4
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14.1
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9.1
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Loan Concentrations (median % of Tier 1 Capital)
|
Q1-09
|
Q4-08
|
Q1-08
|
2008
|
2007
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Commercial and Industrial
|
75.9
|
71.9
|
75.0
|
71.9
|
72.1
|
|
Commercial Real Estate
|
382.3
|
387.8
|
358.9
|
387.8
|
351.8
|
|
Construction & Development
|
136.9
|
143.2
|
150.0
|
143.2
|
134.8
|
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Multifamily Residential Real Estate
|
6.6
|
7.0
|
5.8
|
7.0
|
4.8
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Nonresidential Real Estate
|
197.5
|
197.5
|
167.9
|
197.5
|
165.3
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Residential Real Estate
|
243.2
|
237.0
|
217.7
|
237.0
|
200.4
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Consumer
|
26.8
|
28.7
|
28.7
|
28.7
|
26.8
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Agriculture
|
4.5
|
4.3
|
3.5
|
4.3
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3.2
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BANKING PROFILE
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