Puerto Rico and the U.S. Virgin Islands - Third Quarter 2008
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ECONOMIC INDICATORS
(Change from year ago, unless noted)
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|
Employment Growth Rates
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-3.1%
|
-1.8%
|
-0.5%
|
-1.4%
|
-0.4%
|
|
Manufacturing (10%)
|
-4.3%
|
-4.1%
|
-2.3%
|
-3.3%
|
-4.8%
|
|
Other (non-manufacturing) Goods-Producing (7%)
|
3.5%
|
3.6%
|
-4.7%
|
-3.7%
|
4.1%
|
|
Private Service-Producing (54%)
|
-4.5%
|
-3.2%
|
0.2%
|
-1.0%
|
0.5%
|
|
Government (29%)
|
-1.5%
|
0.5%
|
-0.1%
|
-1.0%
|
-1.4%
|
|
Unemployment Rate (% of labor force)
|
11.6%
|
10.9%
|
11.3%
|
10.9%
|
10.4%
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Other Indicators
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BANKING TRENDS
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|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
12
|
12
|
13
|
13
|
13
|
|
Total Assets (in millions)
|
101,202
|
102,562
|
100,801
|
101,024
|
98,985
|
|
New Institutions (# < 3 years)
|
1
|
1
|
1
|
1
|
1
|
|
Subchapter S Institutions
|
1
|
1
|
1
|
1
|
1
|
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|
|
|
|
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Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
8.87
|
8.49
|
6.72
|
6.86
|
5.60
|
|
ALLL/Total Loans (median %)
|
1.78
|
1.55
|
1.38
|
1.46
|
1.30
|
|
ALLL/Noncurrent Loans (median multiple)
|
0.37
|
0.33
|
0.35
|
0.33
|
0.47
|
|
Net Loan Losses / Total Loans (median %)
|
0.70
|
1.02
|
0.87
|
0.77
|
0.36
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|
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Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
7.02
|
6.78
|
6.99
|
6.84
|
7.15
|
|
Return on Assets (median %)
|
0.13
|
0.15
|
0.32
|
0.20
|
0.42
|
|
Pretax Return on Assets (median %)
|
0.17
|
0.27
|
0.59
|
0.17
|
0.62
|
|
Net Interest Margin (median %)
|
2.97
|
2.88
|
2.87
|
2.86
|
2.81
|
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Yield on Earning Assets (median %)
|
5.96
|
6.01
|
6.67
|
6.77
|
6.53
|
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Cost of Funding Earning Assets (median %)
|
3.10
|
3.14
|
4.04
|
3.95
|
3.72
|
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Provisions to Avg. Assets (median %)
|
0.92
|
0.85
|
0.74
|
0.84
|
0.39
|
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Noninterest Income to Avg. Assets (median %)
|
0.52
|
0.53
|
0.42
|
0.44
|
0.34
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Overhead to Avg. Assets (median %)
|
2.08
|
1.99
|
2.25
|
2.18
|
1.77
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Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
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2007
|
2006
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Loans to Assets (median %)
|
64.8
|
64.4
|
64.3
|
66.3
|
61.7
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Noncore Funding to Assets (median %)
|
59.8
|
64.2
|
61.3
|
60.4
|
62.0
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Long-term Assets to Assets (median %, call filers)
|
34.5
|
32.8
|
30.9
|
24.9
|
38.3
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Brokered Deposits (number of institutions)
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11
|
11
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11
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11
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10
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Brokered Deposits to Assets (median % for those above)
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28.6
|
22.8
|
24.0
|
24.2
|
22.1
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Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
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Commercial and Industrial
|
96.9
|
97.2
|
129.2
|
129.0
|
108.0
|
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Commercial Real Estate
|
242.7
|
264.5
|
256.5
|
283.7
|
211.5
|
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Construction & Development
|
94.6
|
96.5
|
97.9
|
95.6
|
80.9
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Multifamily Residential Real Estate
|
0.5
|
0.6
|
1.4
|
0.0
|
1.0
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Nonresidential Real Estate
|
156.3
|
163.3
|
162.0
|
160.5
|
131.5
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Residential Real Estate
|
242.4
|
269.4
|
298.9
|
282.7
|
247.6
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Consumer
|
41.7
|
39.2
|
54.6
|
49.1
|
34.6
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Agriculture
|
2.4
|
2.3
|
0.1
|
0.1
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0.1
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BANKING PROFILE
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