Michigan 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)
|
-3.9%
|
-2.8%
|
-1.2%
|
-2.6%
|
-1.4%
|
Manufacturing (14%)
|
-9.1%
|
-8.1%
|
-4.5%
|
-7.2%
|
-4.7%
|
Other (non-manufacturing) Goods-Producing (4%)
|
-9.1%
|
-7.4%
|
-5.0%
|
-7.2%
|
-6.5%
|
Private Service-Producing (67%)
|
-3.3%
|
-1.9%
|
0.1%
|
-1.6%
|
-0.2%
|
Government (16%)
|
-0.7%
|
-0.5%
|
-2.1%
|
-1.2%
|
-1.4%
|
Unemployment Rate (% of labor force)
|
9.6%
|
8.6%
|
7.3%
|
8.4%
|
7.1%
|
|
|
|
|
|
|
Other Indicators
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Single-Family Home Permits
|
-44.1%
|
-49.2%
|
-36.4%
|
-44.9%
|
-36.7%
|
Multifamily Building Permits
|
-1.4%
|
-51.0%
|
-56.3%
|
-26.0%
|
-49.2%
|
Home Price Index
|
-6.9%
|
-7.0%
|
-4.5%
|
-5.6%
|
-3.0%
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
5.44
|
5.36
|
4.67
|
5.34
|
4.47
|
|
|
|
|
|
|
BANKING TRENDS
|
General Information
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Institutions (#)
|
159
|
160
|
164
|
159
|
164
|
Total Assets (in millions)
|
129,041
|
165,922
|
165,794
|
129,041
|
165,794
|
New Institutions (# < 3 years)
|
5
|
5
|
9
|
5
|
9
|
Subchapter S Institutions
|
18
|
18
|
16
|
18
|
16
|
|
|
|
|
|
|
Asset Quality
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
4.59
|
4.19
|
3.58
|
4.59
|
3.58
|
ALLL/Total Loans (median %)
|
1.36
|
1.27
|
1.25
|
1.36
|
1.25
|
ALLL/Noncurrent Loans (median multiple)
|
0.65
|
0.55
|
0.67
|
0.65
|
0.67
|
Net Loan Losses / Total Loans (median %)
|
0.87
|
0.41
|
0.49
|
0.59
|
0.25
|
|
|
|
|
|
|
Capital / Earnings
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Tier 1 Leverage (median %)
|
8.86
|
8.98
|
9.19
|
8.86
|
9.19
|
Return on Assets (median %)
|
-0.17
|
0.25
|
0.48
|
0.21
|
0.59
|
Pretax Return on Assets (median %)
|
-0.31
|
0.31
|
0.57
|
0.22
|
0.82
|
Net Interest Margin (median %)
|
3.75
|
3.80
|
3.84
|
3.72
|
3.90
|
Yield on Earning Assets (median %)
|
6.00
|
6.19
|
7.03
|
6.24
|
7.11
|
Cost of Funding Earning Assets (median %)
|
2.32
|
2.42
|
3.19
|
2.56
|
3.19
|
Provisions to Avg. Assets (median %)
|
0.95
|
0.41
|
0.39
|
0.63
|
0.24
|
Noninterest Income to Avg. Assets (median %)
|
0.52
|
0.56
|
0.62
|
0.57
|
0.60
|
Overhead to Avg. Assets (median %)
|
3.32
|
3.12
|
3.15
|
3.17
|
3.12
|
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Loans to Assets (median %)
|
76.9
|
77.5
|
78.3
|
76.9
|
78.3
|
Noncore Funding to Assets (median %)
|
26.1
|
25.0
|
23.7
|
26.1
|
23.7
|
Long-term Assets to Assets (median %, call filers)
|
14.7
|
15.1
|
13.9
|
14.7
|
13.9
|
Brokered Deposits (number of institutions)
|
86
|
84
|
80
|
86
|
80
|
Brokered Deposits to Assets (median % for those above)
|
9.9
|
9.6
|
8.3
|
9.9
|
8.3
|
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Commercial and Industrial
|
98.7
|
95.1
|
97.0
|
98.7
|
97.0
|
Commercial Real Estate
|
317.4
|
307.9
|
286.6
|
317.4
|
286.6
|
Construction & Development
|
50.2
|
53.2
|
57.0
|
50.2
|
57.0
|
Multifamily Residential Real Estate
|
9.7
|
9.5
|
8.5
|
9.7
|
8.5
|
Nonresidential Real Estate
|
251.3
|
244.2
|
226.9
|
251.3
|
226.9
|
Residential Real Estate
|
261.0
|
257.2
|
250.5
|
261.0
|
250.5
|
Consumer
|
23.8
|
22.7
|
23.8
|
23.8
|
23.8
|
Agriculture
|
4.0
|
3.9
|
3.7
|
4.0
|
3.7
|
|
|
|
|
|
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BANKING PROFILE
|