New Jersey 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)
|
-1.6%
|
-0.7%
|
0.3%
|
-0.5%
|
0.2%
|
Manufacturing (7%)
|
-5.6%
|
-3.6%
|
-3.9%
|
-4.0%
|
-3.9%
|
Other (non-manufacturing) Goods-Producing (4%)
|
-7.2%
|
-5.5%
|
-0.9%
|
-4.3%
|
-1.5%
|
Private Service-Producing (72%)
|
-1.4%
|
-0.5%
|
0.8%
|
-0.1%
|
0.8%
|
Government (16%)
|
0.7%
|
0.9%
|
0.1%
|
0.5%
|
0.1%
|
Unemployment Rate (% of labor force)
|
6.4%
|
5.7%
|
4.4%
|
5.5%
|
4.3%
|
|
|
|
|
|
|
Other Indicators
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Single-Family Home Permits
|
-28.7%
|
-31.8%
|
-28.6%
|
-29.0%
|
-26.6%
|
Multifamily Building Permits
|
-67.7%
|
-55.4%
|
-7.9%
|
-22.8%
|
-18.6%
|
Home Price Index
|
-5.3%
|
-4.8%
|
-0.5%
|
-3.7%
|
1.2%
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
3.22
|
3.04
|
2.31
|
2.96
|
2.20
|
|
|
|
|
|
|
BANKING TRENDS
|
General Information
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Institutions (#)
|
126
|
127
|
127
|
126
|
127
|
Total Assets (in millions)
|
159,479
|
154,916
|
147,732
|
159,479
|
147,732
|
New Institutions (# < 3 years)
|
17
|
18
|
15
|
17
|
15
|
Subchapter S Institutions
|
7
|
7
|
7
|
7
|
7
|
|
|
|
|
|
|
Asset Quality
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
1.78
|
1.29
|
1.12
|
1.78
|
1.12
|
ALLL/Total Loans (median %)
|
0.95
|
0.98
|
0.93
|
0.95
|
0.93
|
ALLL/Noncurrent Loans (median multiple)
|
0.80
|
0.94
|
1.34
|
0.80
|
1.34
|
Net Loan Losses / Total Loans (median %)
|
0.00
|
0.00
|
0.00
|
0.03
|
0.00
|
|
|
|
|
|
|
Capital / Earnings
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Tier 1 Leverage (median %)
|
9.50
|
9.78
|
9.82
|
9.50
|
9.82
|
Return on Assets (median %)
|
0.29
|
0.36
|
0.34
|
0.30
|
0.39
|
Pretax Return on Assets (median %)
|
0.34
|
0.57
|
0.47
|
0.40
|
0.49
|
Net Interest Margin (median %)
|
3.08
|
3.21
|
3.04
|
3.06
|
2.99
|
Yield on Earning Assets (median %)
|
5.63
|
5.76
|
6.27
|
5.76
|
6.14
|
Cost of Funding Earning Assets (median %)
|
2.52
|
2.55
|
3.27
|
2.69
|
3.20
|
Provisions to Avg. Assets (median %)
|
0.29
|
0.14
|
0.06
|
0.18
|
0.06
|
Noninterest Income to Avg. Assets (median %)
|
0.21
|
0.25
|
0.27
|
0.24
|
0.26
|
Overhead to Avg. Assets (median %)
|
2.70
|
2.73
|
2.63
|
2.73
|
2.68
|
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Loans to Assets (median %)
|
70.4
|
71.3
|
68.7
|
70.4
|
68.7
|
Noncore Funding to Assets (median %)
|
25.5
|
24.0
|
22.5
|
25.5
|
22.5
|
Long-term Assets to Assets (median %, call filers)
|
34.3
|
32.7
|
30.9
|
34.3
|
30.9
|
Brokered Deposits (number of institutions)
|
51
|
48
|
35
|
51
|
35
|
Brokered Deposits to Assets (median % for those above)
|
4.9
|
3.2
|
2.7
|
4.9
|
2.7
|
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
Commercial and Industrial
|
33.0
|
32.5
|
33.7
|
33.0
|
33.7
|
Commercial Real Estate
|
235.9
|
234.5
|
231.7
|
235.9
|
231.7
|
Construction & Development
|
38.8
|
35.8
|
37.4
|
38.8
|
37.4
|
Multifamily Residential Real Estate
|
10.1
|
10.2
|
9.1
|
10.1
|
9.1
|
Nonresidential Real Estate
|
159.4
|
155.5
|
137.6
|
159.4
|
137.6
|
Residential Real Estate
|
258.9
|
253.6
|
242.0
|
258.9
|
242.0
|
Consumer
|
2.6
|
2.4
|
2.8
|
2.6
|
2.8
|
Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
|
|
|
|
|
|
|
BANKING PROFILE
|