Massachusetts 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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Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-1.2%
|
0.1%
|
1.0%
|
0.1%
|
1.1%
|
|
Manufacturing (9%)
|
-3.6%
|
-3.0%
|
-2.1%
|
-2.9%
|
-1.6%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-8.1%
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-4.5%
|
-1.3%
|
-4.2%
|
-2.6%
|
|
Private Service-Producing (74%)
|
-0.9%
|
0.6%
|
1.5%
|
0.6%
|
1.7%
|
|
Government (13%)
|
1.2%
|
1.0%
|
0.8%
|
1.0%
|
0.9%
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|
Unemployment Rate (% of labor force)
|
6.1%
|
5.4%
|
4.5%
|
5.3%
|
4.5%
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|
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Other Indicators
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Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Single-Family Home Permits
|
-53.7%
|
-33.9%
|
-14.5%
|
-41.1%
|
-23.6%
|
|
Multifamily Building Permits
|
-44.5%
|
-51.2%
|
-59.5%
|
-21.3%
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-35.5%
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|
Home Price Index
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-4.1%
|
-4.4%
|
-2.8%
|
-3.5%
|
-2.2%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
2.52
|
2.50
|
2.03
|
2.49
|
2.08
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BANKING TRENDS
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General Information
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Institutions (#)
|
175
|
178
|
181
|
175
|
181
|
|
Total Assets (in millions)
|
268,609
|
373,133
|
238,037
|
268,609
|
238,037
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|
New Institutions (# < 3 years)
|
3
|
3
|
2
|
3
|
2
|
|
Subchapter S Institutions
|
4
|
4
|
4
|
4
|
4
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|
|
|
|
|
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Asset Quality
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Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.73
|
1.30
|
1.22
|
1.73
|
1.22
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|
ALLL/Total Loans (median %)
|
0.92
|
0.88
|
0.85
|
0.92
|
0.85
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ALLL/Noncurrent Loans (median multiple)
|
1.05
|
1.23
|
2.35
|
1.05
|
2.35
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Net Loan Losses / Total Loans (median %)
|
0.06
|
0.01
|
0.01
|
0.06
|
0.02
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Capital / Earnings
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Tier 1 Leverage (median %)
|
9.40
|
9.42
|
9.79
|
9.40
|
9.79
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Return on Assets (median %)
|
0.36
|
0.19
|
0.42
|
0.20
|
0.40
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Pretax Return on Assets (median %)
|
0.36
|
0.31
|
0.55
|
0.27
|
0.57
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Net Interest Margin (median %)
|
3.23
|
3.23
|
2.98
|
3.12
|
3.01
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Yield on Earning Assets (median %)
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5.68
|
5.74
|
6.14
|
5.80
|
6.08
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Cost of Funding Earning Assets (median %)
|
2.38
|
2.48
|
3.13
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2.59
|
3.08
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Provisions to Avg. Assets (median %)
|
0.16
|
0.11
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0.03
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0.14
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0.04
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Noninterest Income to Avg. Assets (median %)
|
0.41
|
0.44
|
0.45
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0.43
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0.46
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Overhead to Avg. Assets (median %)
|
2.75
|
2.70
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2.71
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2.72
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2.68
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Liquidity / Sensitivity
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
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|
Loans to Assets (median %)
|
72.0
|
71.3
|
70.6
|
72.0
|
70.6
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Noncore Funding to Assets (median %)
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30.9
|
30.2
|
27.8
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30.9
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27.8
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Long-term Assets to Assets (median %, call filers)
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37.4
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37.7
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35.3
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37.4
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35.3
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Brokered Deposits (number of institutions)
|
49
|
46
|
46
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49
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46
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Brokered Deposits to Assets (median % for those above)
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1.9
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1.6
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1.9
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1.9
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1.9
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Loan Concentrations (median % of Tier 1 Capital)
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
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Commercial and Industrial
|
29.9
|
28.5
|
24.3
|
29.9
|
24.3
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Commercial Real Estate
|
209.1
|
197.4
|
177.3
|
209.1
|
177.3
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Construction & Development
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38.8
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38.1
|
38.6
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38.8
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38.6
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Multifamily Residential Real Estate
|
16.0
|
17.6
|
14.7
|
16.0
|
14.7
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Nonresidential Real Estate
|
125.5
|
120.5
|
105.2
|
125.5
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105.2
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Residential Real Estate
|
465.0
|
456.4
|
415.0
|
465.0
|
415.0
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Consumer
|
5.2
|
5.5
|
5.9
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5.2
|
5.9
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Agriculture
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0.0
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0.0
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0.0
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0.0
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0.0
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BANKING PROFILE
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