Virginia at a Glance
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
Employment Growth Rates
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-1.2%
|
0.1%
|
0.8%
|
-0.1%
|
0.9%
|
Manufacturing (7%)
|
-5.5%
|
-4.5%
|
-3.2%
|
-4.7%
|
-3.6%
|
Other (non-manufacturing) Goods-Producing (6%)
|
-9.2%
|
-6.9%
|
-4.2%
|
-7.0%
|
-3.6%
|
Private Service-Producing (68%)
|
-0.8%
|
0.8%
|
1.7%
|
0.6%
|
1.8%
|
Government (18%)
|
2.1%
|
1.9%
|
1.0%
|
1.7%
|
1.2%
|
Unemployment Rate (% of labor force)
|
4.6%
|
4.1%
|
3.3%
|
4.0%
|
3.0%
|
|
|
|
|
|
|
Other Indicators
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Single-Family Home Permits
|
-29.8%
|
-31.2%
|
-27.1%
|
-32.1%
|
-23.5%
|
Multifamily Building Permits
|
-41.6%
|
13.4%
|
20.9%
|
0.6%
|
-12.2%
|
Home Price Index
|
-4.6%
|
-3.8%
|
0.5%
|
-2.8%
|
2.8%
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.83
|
3.68
|
2.78
|
3.54
|
2.45
|
|
|
|
|
|
|
BANKING TRENDS
|
General Information
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Institutions (#)
|
118
|
119
|
119
|
118
|
119
|
Total Assets (in millions)
|
576,061
|
377,863
|
375,384
|
576,061
|
375,384
|
New Institutions (# < 3 years)
|
12
|
15
|
12
|
12
|
12
|
Subchapter S Institutions
|
0
|
0
|
0
|
0
|
0
|
|
|
|
|
|
|
Asset Quality
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.77
|
1.95
|
1.62
|
2.77
|
1.62
|
ALLL/Total Loans (median %)
|
1.23
|
1.10
|
1.07
|
1.23
|
1.07
|
ALLL/Noncurrent Loans (median multiple)
|
1.19
|
1.26
|
2.23
|
1.19
|
2.23
|
Net Loan Losses / Total Loans (median %)
|
0.25
|
0.10
|
0.09
|
0.18
|
0.07
|
|
|
|
|
|
|
Capital / Earnings
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Tier 1 Leverage (median %)
|
9.34
|
9.42
|
9.62
|
9.34
|
9.62
|
Return on Assets (median %)
|
0.34
|
0.44
|
0.74
|
0.35
|
0.81
|
Pretax Return on Assets (median %)
|
0.27
|
0.52
|
0.98
|
0.48
|
1.13
|
Net Interest Margin (median %)
|
3.64
|
3.78
|
3.84
|
3.67
|
3.87
|
Yield on Earning Assets (median %)
|
6.09
|
6.31
|
7.14
|
6.31
|
7.16
|
Cost of Funding Earning Assets (median %)
|
2.53
|
2.60
|
3.24
|
2.68
|
3.22
|
Provisions to Avg. Assets (median %)
|
0.58
|
0.30
|
0.17
|
0.40
|
0.14
|
Noninterest Income to Avg. Assets (median %)
|
0.56
|
0.57
|
0.58
|
0.56
|
0.60
|
Overhead to Avg. Assets (median %)
|
3.00
|
3.08
|
3.12
|
3.16
|
3.03
|
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Loans to Assets (median %)
|
75.3
|
75.0
|
73.7
|
75.3
|
73.7
|
Noncore Funding to Assets (median %)
|
28.0
|
26.0
|
25.1
|
28.0
|
25.1
|
Long-term Assets to Assets (median %, call filers)
|
22.4
|
20.3
|
18.3
|
22.4
|
18.3
|
Brokered Deposits (number of institutions)
|
77
|
68
|
51
|
77
|
51
|
Brokered Deposits to Assets (median % for those above)
|
5.3
|
4.4
|
2.7
|
5.3
|
2.7
|
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Commercial and Industrial
|
73.6
|
74.6
|
72.9
|
73.6
|
72.9
|
Commercial Real Estate
|
332.8
|
337.6
|
331.4
|
332.8
|
331.4
|
Construction & Development
|
96.9
|
90.0
|
108.0
|
96.9
|
108.0
|
Multifamily Residential Real Estate
|
12.4
|
12.5
|
10.9
|
12.4
|
10.9
|
Nonresidential Real Estate
|
202.9
|
201.0
|
186.0
|
202.9
|
186.0
|
Residential Real Estate
|
229.5
|
221.6
|
225.8
|
229.5
|
225.8
|
Consumer
|
34.9
|
33.6
|
35.4
|
34.9
|
35.4
|
Agriculture
|
4.0
|
4.1
|
3.7
|
4.0
|
3.7
|
|
|
|
|
|
|
BANKING PROFILE
|