Rhode Island at a Glance
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-3.0%
|
-2.3%
|
-1.3%
|
-2.2%
|
-0.1%
|
|
Manufacturing (10%)
|
-6.8%
|
-5.7%
|
-4.0%
|
-5.4%
|
-3.7%
|
|
Other (non-manufacturing) Goods-Producing (4%)
|
-10.1%
|
-6.1%
|
-6.1%
|
-7.9%
|
-2.9%
|
|
Private Service-Producing (73%)
|
-2.2%
|
-1.6%
|
-0.6%
|
-1.5%
|
0.7%
|
|
Government (13%)
|
-2.1%
|
-2.2%
|
-1.8%
|
-1.5%
|
-0.8%
|
|
Unemployment Rate (% of labor force)
|
9.1%
|
8.2%
|
5.8%
|
7.8%
|
5.2%
|
| |
|
|
|
|
|
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Other Indicators
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Single-Family Home Permits
|
-29.4%
|
-34.6%
|
-23.2%
|
-38.6%
|
-9.9%
|
|
Multifamily Building Permits
|
-55.8%
|
-32.3%
|
-45.0%
|
-27.3%
|
-40.3%
|
|
Home Price Index
|
-8.3%
|
-7.3%
|
-3.0%
|
-6.1%
|
-1.6%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
4.28
|
3.97
|
2.86
|
3.94
|
2.56
|
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|
|
|
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BANKING TRENDS
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|
General Information
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Institutions (#)
|
13
|
13
|
13
|
13
|
13
|
|
Total Assets (in millions)
|
173,167
|
176,623
|
171,962
|
173,167
|
171,962
|
|
New Institutions (# < 3 years)
|
0
|
0
|
2
|
0
|
2
|
|
Subchapter S Institutions
|
1
|
1
|
1
|
1
|
1
|
| |
|
|
|
|
|
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Asset Quality
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.53
|
1.65
|
1.19
|
2.53
|
1.19
|
|
ALLL/Total Loans (median %)
|
1.27
|
1.31
|
1.06
|
1.27
|
1.06
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.02
|
1.19
|
1.24
|
1.02
|
1.24
|
|
Net Loan Losses / Total Loans (median %)
|
0.25
|
0.14
|
0.05
|
0.14
|
0.04
|
| |
|
|
|
|
|
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Capital / Earnings
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Tier 1 Leverage (median %)
|
8.72
|
9.40
|
10.77
|
8.72
|
10.77
|
|
Return on Assets (median %)
|
-0.07
|
0.07
|
0.47
|
-0.17
|
0.42
|
|
Pretax Return on Assets (median %)
|
-0.43
|
0.05
|
0.70
|
-0.01
|
0.52
|
|
Net Interest Margin (median %)
|
3.15
|
3.07
|
3.12
|
3.15
|
3.10
|
|
Yield on Earning Assets (median %)
|
5.54
|
5.86
|
6.31
|
5.83
|
6.26
|
|
Cost of Funding Earning Assets (median %)
|
2.77
|
2.77
|
3.28
|
2.82
|
3.35
|
|
Provisions to Avg. Assets (median %)
|
0.26
|
0.16
|
0.06
|
0.18
|
0.08
|
|
Noninterest Income to Avg. Assets (median %)
|
0.67
|
0.61
|
1.04
|
0.66
|
1.09
|
|
Overhead to Avg. Assets (median %)
|
2.93
|
3.00
|
2.81
|
3.03
|
2.92
|
| |
|
|
|
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Liquidity / Sensitivity
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Loans to Assets (median %)
|
71.1
|
70.6
|
67.9
|
71.1
|
67.9
|
|
Noncore Funding to Assets (median %)
|
32.4
|
32.0
|
30.9
|
32.4
|
30.9
|
|
Long-term Assets to Assets (median %, call filers)
|
43.9
|
42.3
|
45.4
|
43.9
|
45.4
|
|
Brokered Deposits (number of institutions)
|
6
|
5
|
5
|
6
|
5
|
|
Brokered Deposits to Assets (median % for those above)
|
4.3
|
7.6
|
1.9
|
4.3
|
1.9
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|
|
|
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Loan Concentrations (median % of Tier 1 Capital)
|
Q4-08
|
Q3-08
|
Q4-07
|
2008
|
2007
|
|
Commercial and Industrial
|
18.4
|
15.6
|
21.8
|
18.4
|
21.8
|
|
Commercial Real Estate
|
149.8
|
119.4
|
110.2
|
149.8
|
110.2
|
|
Construction & Development
|
20.9
|
20.6
|
9.0
|
20.9
|
9.0
|
|
Multifamily Residential Real Estate
|
1.1
|
1.3
|
1.9
|
1.1
|
1.9
|
|
Nonresidential Real Estate
|
114.2
|
113.4
|
77.3
|
114.2
|
77.3
|
|
Residential Real Estate
|
352.9
|
357.7
|
381.1
|
352.9
|
381.1
|
|
Consumer
|
2.6
|
2.4
|
2.1
|
2.6
|
2.1
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Agriculture
|
0.0
|
0.0
|
0.0
|
0.0
|
0.0
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BANKING PROFILE
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