Tennessee - Third Quarter 2008
|
ECONOMIC INDICATORS
(Change from year ago, unless noted)
|
|
Employment Growth Rates
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Total Nonfarm (share of trailing four quarter employment in parentheses)
|
-0.6%
|
-0.2%
|
0.5%
|
0.5%
|
1.4%
|
|
Manufacturing (13%)
|
-2.5%
|
-2.4%
|
-5.1%
|
-4.6%
|
-2.3%
|
|
Other (non-manufacturing) Goods-Producing (5%)
|
-0.3%
|
0.4%
|
2.2%
|
2.4%
|
7.3%
|
|
Private Service-Producing (67%)
|
-0.5%
|
0.1%
|
1.5%
|
1.4%
|
2.0%
|
|
Government (15%)
|
0.3%
|
0.4%
|
1.0%
|
1.1%
|
1.0%
|
|
Unemployment Rate (% of labor force)
|
6.9%
|
6.1%
|
4.7%
|
4.7%
|
5.1%
|
| |
|
|
|
|
|
|
Other Indicators
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Single-Family Home Permits
|
-44.5%
|
-40.3%
|
-23.2%
|
-24.8%
|
-3.6%
|
|
Multifamily Building Permits
|
-13.3%
|
-59.5%
|
-18.2%
|
1.7%
|
11.1%
|
|
Home Price Index
|
1.4%
|
2.6%
|
5.5%
|
5.8%
|
7.6%
|
|
Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)
|
7.97
|
7.07
|
6.69
|
6.34
|
5.33
|
| |
|
|
|
|
|
|
BANKING TRENDS
|
|
General Information
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Institutions (#)
|
201
|
200
|
202
|
203
|
201
|
|
Total Assets (in millions)
|
99,853
|
101,516
|
92,560
|
94,343
|
88,632
|
|
New Institutions (# < 3 years)
|
14
|
14
|
17
|
17
|
18
|
|
Subchapter S Institutions
|
43
|
43
|
43
|
43
|
43
|
| |
|
|
|
|
|
|
Asset Quality
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Past-Due and Nonaccrual Loans / Total Loans (median %)
|
2.53
|
2.09
|
1.74
|
2.05
|
1.60
|
|
ALLL/Total Loans (median %)
|
1.17
|
1.18
|
1.18
|
1.18
|
1.21
|
|
ALLL/Noncurrent Loans (median multiple)
|
1.16
|
1.47
|
1.97
|
1.99
|
2.77
|
|
Net Loan Losses / Total Loans (median %)
|
0.23
|
0.13
|
0.09
|
0.16
|
0.13
|
| |
|
|
|
|
|
|
Capital / Earnings
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Tier 1 Leverage (median %)
|
9.83
|
9.76
|
10.02
|
9.81
|
9.89
|
|
Return on Assets (median %)
|
0.62
|
0.75
|
0.89
|
0.83
|
0.91
|
|
Pretax Return on Assets (median %)
|
0.85
|
1.02
|
1.22
|
1.13
|
1.23
|
|
Net Interest Margin (median %)
|
3.88
|
3.82
|
3.98
|
3.94
|
4.13
|
|
Yield on Earning Assets (median %)
|
6.51
|
6.59
|
7.52
|
7.37
|
7.11
|
|
Cost of Funding Earning Assets (median %)
|
2.64
|
2.81
|
3.52
|
3.40
|
2.95
|
|
Provisions to Avg. Assets (median %)
|
0.29
|
0.19
|
0.13
|
0.16
|
0.17
|
|
Noninterest Income to Avg. Assets (median %)
|
0.70
|
0.73
|
0.75
|
0.74
|
0.77
|
|
Overhead to Avg. Assets (median %)
|
3.05
|
3.06
|
3.11
|
3.11
|
3.13
|
| |
|
|
|
|
|
|
Liquidity / Sensitivity
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Loans to Assets (median %)
|
73.0
|
71.7
|
70.8
|
70.4
|
69.6
|
|
Noncore Funding to Assets (median %)
|
30.5
|
29.7
|
27.1
|
28.1
|
27.4
|
|
Long-term Assets to Assets (median %, call filers)
|
18.3
|
18.2
|
14.9
|
15.4
|
12.8
|
|
Brokered Deposits (number of institutions)
|
89
|
78
|
68
|
78
|
66
|
|
Brokered Deposits to Assets (median % for those above)
|
6.1
|
4.3
|
3.8
|
4.6
|
4.1
|
| |
|
|
|
|
|
|
Loan Concentrations (median % of Tier 1 Capital)
|
Q3-08
|
Q2-08
|
Q3-07
|
2007
|
2006
|
|
Commercial and Industrial
|
74.9
|
76.5
|
75.4
|
78.2
|
76.0
|
|
Commercial Real Estate
|
326.6
|
313.3
|
271.6
|
292.2
|
255.9
|
|
Construction & Development
|
107.3
|
105.2
|
100.0
|
98.1
|
81.1
|
|
Multifamily Residential Real Estate
|
6.1
|
5.2
|
3.8
|
4.1
|
4.6
|
|
Nonresidential Real Estate
|
163.1
|
159.3
|
141.1
|
147.8
|
135.9
|
|
Residential Real Estate
|
225.0
|
220.2
|
205.2
|
208.1
|
207.4
|
|
Consumer
|
43.6
|
45.0
|
46.6
|
48.3
|
51.7
|
|
Agriculture
|
17.5
|
17.8
|
16.4
|
17.8
|
16.9
|
| |
|
|
|
|
|
|
BANKING PROFILE
|
