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Quarterly Analysis of Institutions in the Capital Purchase Program
2009 Q4
Introduction
Throughout 2008, the Federal Government launched a series of financial initiatives aimed at
stabilizing the economy. The Treasury Department (“Treasury”) launched one of its largest
initiatives, the Capital Purchase Program (CPP), under the Emergency Economic Stabilization
Act (EESA) in October 2008. Through the CPP, Treasury purchased shares of preferred stock
(or comparable instruments) from qualifying financial institutions. By strengthening the capital
bases of these financial institutions through CPP, Treasury aimed to enhance market confidence
in the entire banking system, thereby increasing the capacity of these institutions to lend to U.S.
businesses and consumers and to support the U.S. economy under the difficult financial market
conditions.
In an effort to understand better how CPP and other stabilization initiatives may have affected
financial institutions and their activities, an interagency group convened to determine and
conduct appropriate analyses. The interagency group consists of representatives from Treasury,
the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors
(Board), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift
Supervision (OTS).
Identifying the effects of EESA programs on lending presents significant conceptual and
practical challenges. Foremost among these challenges are the inherent difficulties in
disentangling the relative importance of reduced demand for credit due to weaker economic
activity, reduced supply of credit because borrowers appear less creditworthy, or reduced supply
of credit because lenders face pressures that restrain them from extending credit, such as possible
concerns about their capital. Modifying changes in the latter is the primary goal of the CPP and
other measures taken. The close proximity in time of many actions by the U.S. and other
governments, including the initial announcement of the CPP and other U.S. initiatives, adds to
the challenges of identifying effects of specific programs or groups of programs. Over time,
significant repayments of CPP funds will present further analytical challenges as the panel of
CPP recipients and their characteristics shift over time. Notwithstanding these challenges, in the
interest of providing information to the market and the U.S. public, the interagency group has
undertaken, and will continue to produce, this summary of the activities of institutions receiving
TARP capital through the CPP.
By regulation, depository institutions are required each quarter to submit financial data (i.e.
income statement, balance sheet, and supporting schedules) to their primary federal regulator in
Call Reports and Thrift Financial Reports. Many depository institutions are owned by bank
holding companies that may also own securities broker-dealers and other non-depository
financial institutions. Large bank holding companies are required to submit consolidated
financial data to the Federal Reserve Board of Governors each quarter in Consolidated Financial
Statements for Bank Holding Companies (FR Y-9C Reports). The first section (“Section A”) of
1
this report analyzes Call Reports and Thrift Financial Reports, and the second section (“Section
B”) analyzes Y-9C data. 1
The interagency group selected line items from regulatory filings that measure the status of
financial institutions in a concise manner. Summary tables based on regulatory filing data
include items in three broad categories: balance sheet and off-balance sheet items, performance
ratios, and asset quality measures. The selected line items appear in the following tables, which
contain data from fourth quarter 2008 through fourth quarter 2009. 2 The interagency group
recognized that both institution size and the timing of CPP capital investments would likely have
a bearing on this type of analysis. Accordingly, these summary tables distinguish seven groups
of financial institutions:
Six groups of entities receiving CPP funds have been created for this report:
•
•
•
•
•
•
(I) The 21 largest bank holding companies that have received CPP funds. The 60 insured
subsidiaries of these BHCs include the largest domestic banks. These 21 entities each submit
consolidated monthly lending reports to Treasury. 3
(II) Independent banks and smaller bank and thrift holding companies that received CPP
funds in the fourth quarter of 2008.
(III) Independent banks and bank and thrift holding companies that received CPP funds in the
first quarter of 2009.
(IV) Independent banks and bank and thrift holding companies that received CPP funds in
the second quarter of 2009.
(V) Independent banks and bank and thrift holding companies that received CPP funds in the
third quarter of 2009.
(VI) Independent banks and bank and thrift holding companies that received CPP funds in
the fourth quarter of 2009.
1
Detailed information on reporting can be found at the Federal Financial Institutions Examinations Council website
(http://www.ffiec.gov) and at the Board of Governors website (http://www.federalreserve.gov) under “Reporting
Forms”. In general, only bank holding companies with consolidated assets greater than $500 million are required to
submit Y-9C reports.
2
See “Appendix A: Notes to Call and Thrift Financial Report Data Users” and “Appendix B: Notes to Y-9C Data
Users” for a more detailed description of the data.
3
Treasury requested detailed consolidated monthly lending reports (“Monthly Lending and Intermediation
Snapshot”) from the 21 largest bank holding companies in the program, supplemented by monthly reports (“CPP
Monthly Lending Report”) by all CPP participants of three data points: average consumer loans outstanding,
average commercial loans outstanding, and total loans. These monthly reports have been published on the Treasury
web site at http://www.financialstability.gov/impact/surveys.htm. The Hartford, a thrift holding company, submits a
Monthly Lending and Intermediation Snapshot to Treasury as well, but is not included in Group I. Institutions that
have repaid, however, will not be asked to continue submitting Monthly Lending and Intermediation Snapshots.
2
One group of entities not receiving CPP funds has been created for this report:
•
(VII) The 7,076 FDIC-insured institutions that were not in groups that had received CPP
capital as of December 31, 2009, make up the seventh group. About 94% of these
institutions have total assets of less than $1 billion.
While these data accurately reflect the financial results of these different groups, it is difficult to
draw specific conclusions about the effectiveness of the CPP from solely these ratios. First,
more quarters of data will be needed to fully understand the effects of the CPP on both individual
institutions as well as on the financial system as a whole. Second, these data are not seasonally
adjusted, which may drive some of the quarter-to-quarter variations. And third, more analysis
needs to occur to create a more accurate control group. This report presents all banks that did
not participate in the CPP as the comparison group (Group VII). There are substantial
differences among the institutions in this comparison group (the range of asset size in particular)
that make it difficult to compare aggregate results for Group VII with results for the six CPP
groups. Designing appropriate comparisons will be a focus of future analysis.
3
Section A: Call and Thrift Financial Report Analysis
The Call and Thrift Financial Report data are organized into seven tables, by group:
Group
Group I
Group II
Group III
Group IV
Group V
Group VI
Group VII
Description
Subsidiaries of the 21 Largest CPP
Participants (as of December 31, 2009)
Subsidiaries of CPP Participants that
were funded in Q4 2008
Subsidiaries of CPP Participants that
were funded in Q1 2009
Subsidiaries of CPP Participants that
were funded in Q2 2009
Subsidiaries of CPP Participants that
were funded in Q3 2009
Subsidiaries of CPP Participants that
were funded in Q4 2009
Non CPP Participants (as of
December 31, 2009)
Number of Number of
CPP
Insured
participants institutions
21
56
Average asset size of
insured institution
(billions)
$142.80
190
290
$3.10
317
363
$1.10
116
147
$0.30
36
46
$0.50
22
34
$0.20
7,076
$0.50
Summary of Findings
Note: All changes refer to the change between third quarter 2009 and fourth quarter 2009,
unless otherwise noted.
Selected Balance and Off-Balance Sheet Items
Overall Asset Growth
Groups III, V, and VI experienced positive overall asset growth in Q4 2009 with asset growth of
7.1%, 1.2%, and 3.4 % respectively.
Loan Growth 4
All Groups, except III and VI, experienced negative growth in the total loans in Q4 2009.
Despite largely negative total loan growth all groups did experience positive growth in some
individual loan categories. Group I had positive growth in commercial real estate (0.1%). Group
II had positive growth in closed-end 1-4 family residential (0.3%), home equity (0.7%), credit
card (2.2%), and commercial real estate (1.2%). Group III had positive growth in home equity
4
All loan growth figures refer to the change in outstanding loan balances.
4
(0.3%), credit card (139.2%) 5 , other consumer (2.5%), and commercial real estate (1.1%).
Group IV had positive growth in closed-end 1-4 family residential (1.6%) and commercial real
estate (0.9%). Group V had positive growth in closed-end 1-4 family residential (1.0%) and
commercial real estate (1.2%). Group VI had positive growth in home equity (6.4%),
commercial and industrial (1.0%), and commercial real estate (4.4%). Lastly, Group VII had
positive growth only in credit card (3.0%).
Closed-end Mortgage and Open-end HELOC Originations 6
In all groups, closed-end mortgage originations sold decreased. Closed-end mortgage
originations held for sale decreased only for Groups I, II, V, and VI.
Of the four groups (Groups I, II, IV, and VII) that reported open-end HELOC originations in Q4
2009 Group I experienced a decrease in HELOCs originated for sale and Groups II and IV
experienced an increase. Groups I and II experienced decreases in HELOC originations sold.
Group VII had an increase in both HELOC originations for sale and sold.
Securities on Balance Sheet
In Q4 2009, all groups except Groups I, II, and V experienced negative growth in mortgagebacked securities (MBS). Asset-backed securities (ABS) rose in Groups I, II, and VII. Finally,
other securities 7 grew in all groups except Group II.
Other Asset Growth
Unused commitments decreased in all groups. Group IV had the largest percentage decrease
(-6.0%), while Group VII had the smallest percentage decrease (-1.3%). The outstanding
principal balance of assets sold and securitized with servicing retained decreased in all groups
except Group VI where there was no change, and Group VII where there was an increase. Cash
and balances due rose in all groups except I, II, and IV.
Liabilities
With the exception of Groups I, II, and VII, all groups experienced increases in total liabilities.
Further, all groups experienced positive growth in deposits. The largest increase in deposits was
in Group III (2.8%) and the smallest growth was in deposits in Group IV (0.2%).
Total other borrowings 8 and Federal Home Loan Bank (FHLB) advances were mixed across the
groups. The largest decrease in total other borrowings was Group I (-15.2%). The largest
5
The dramatic increase is largely attributed to Discover Financial Services (approximately $23 billion in credit card
loans in Q3 2009; approximately $48 billion in credit card loans in Q4 2009). Excluding Discover Financial
Services, Group III’s credit card loans went from roughly $304 million in Q3 2009 to $319 million in Q4 2009 (a
5.0% increase).
6
Only Call Report filers with assets over $1 billion or more than $10 million in mortgage origination for two
consecutive quarters are required to report residential loans originated for sale (see Appendix A: Notes to Call and
Thrift Financial Report Data Users).
7
Defined as total securities less MBS and ABS.
5
decrease in FHLB advances was Group II with (-8.1%). The largest increase in total other
borrowings was Group III and the largest increase in FHLB advances was in Group VI.
Equity
As expected, growth in equity capital was strong in Q4 2009 for Group VI (11.1%) as those
institutions received capital infusions via CPP in Q4 2009. Also expected, stock sales and
transactions with the parent holding company as a cumulative figure increased dramatically in
Q4 2009 for Group VI.
Performance Ratios 9
Capital Ratios
In Q4 2009, Group VI had the highest tier 1 leverage ratio and Group VII had the highest tier 1
risk-based capital ratio and total risk-based capital ratio. As expected, Group VI experienced the
largest increases in all three capital ratios in Q4 2009 (the quarter of their capital infusions via
CPP).
Earnings Ratios
In Q4 2009, return on equity and return on assets were negative in all groups except Group I.
Across all groups, net interest margins were positive. Return on equity and return on assets
decreased in IV, V, and VII. Net interest margins increased slightly in most groups except
Groups I, V, and VII where it was unchanged.
Loss Coverage Ratios
Coverage ratios (allowance for loan and lease losses to noncurrent loans) declined in Groups I,
IV, V, and VI, and increased in groups II, III, and VII. The largest decrease in coverage ratios
was in Group I. In Q4 2009, Group III had the highest coverage ratio (68.4%), while Group IV
had the lowest coverage ratio (48.0%).
The ratio of loss provisions to net charge-offs (for the quarter) decreased across all groups except
Group II. Group V had the highest ratio of loss provisions to net charge-offs in Q4 2009
(149.9%), while Group III had the lowest ratio (112.0%).
The ratio of net charge-offs to average loans and leases increased in all groups in Q4 2009 except
group I where there was no change. The largest increase was in Group V. In Q4 2009, Group I
had the highest ratio of net charge-offs to average loans and leases (3.2%) and Group VI had the
lowest ratio of net charge-offs to average loans and leases (1.4%).
8
Total other borrowings include FHLB advances and other amounts borrowed by the consolidated bank, exclusive
of federal funds purchased and securities sold under agreements to repurchase, liabilities for short positions, and
subordinated notes and debentures. This item includes mortgage indebtedness and obligations under capitalized
leases.
9
Performance ratios reflect weighted averages for each group (see Appendix A: Notes to Call and Thrift Financial
Report Data Users).
6
Asset Quality: Noncurrent Loans
With few exceptions (mostly in C&I), noncurrent loans as a percentage of loans (within loan
category) increased across all groups and loan categories in Q4 2009.
Asset Quality: Gross Charge-offs
Gross charge-offs as a percentage of total loans (within loan type) either experienced no change
or increased across most loan categories and groups in Q4 2009. None of the groups
experienced decreases in the ratio of total gross charge-offs to total loans, as well as in the ratios
of gross charge-offs to total loans in C&D, and HELOCs. The highest ratios of gross charge-offs
to total loans were split between two groups. In Groups I, VI, and VII, the highest ratios of gross
charge-offs to total loans were in credit card loans, and in the other groups the highest ratios of
gross charge-offs to total loans were in C&D loans. Generally, the lowest ratios of gross chargeoffs to total loans were in CRE loans.
7
I. Subsidiaries of 21 Largest BHCs Receiving CPP Capital to Date
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commitments
Securi tiza tion outs ta ndi ng princi pa l
Mortga ge‐ba cked s ecuriti es (GSE a nd priva te i s s ue)
As s et‐ba cked s ecurities
Other s ecuri ties
Ca s h & ba l a nces due
Res identi a l mortga ge ori gi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos i ts
Tota l other borrowi ngs
FHLB a dva nces
Equity
Equity ca pi ta l a t qua rter end
Stock s a les a nd tra ns a ctions wi th pa rent hol ding compa ny
(cumula ti ve through ca lender yea r)
Performance Ratios
Q2 2009
Q3 2009
Q4 2009
‐8.4%
‐1.5%
2.8%
9.9%
37.4%
‐6.3%
$4,734,197
$1,773,139
$820,268
$124,235
$389,387
$646,781
‐4.2%
‐0.8%
6.9%
2.0%
16.7%
‐15.6%
$4,586,538
$1,764,261
$798,565
$128,062
$435,539
$696,205
‐3.1%
‐0.5%
‐2.6%
3.1%
11.9%
7.6%
$4,454,608
$1,751,250
$843,512
$131,374
$478,264
$681,652
‐2.9%
‐0.7%
5.6%
2.6%
9.8%
‐2.1%
$265,854
$6,214
$260,358
$6,324
63.3%
9.4%
58.5%
46.5%
$414,322
$6,726
$391,580
$4,824
55.8%
8.3%
50.4%
‐23.7%
$333,709
$6,907
$366,300
$8,945
‐19.5%
2.7%
‐6.5%
85.4%
$318,491
$5,883
$319,394
$6,373
‐4.6%
‐14.8%
‐12.8%
‐28.8%
$7,561,020
$5,181,636
$1,638,299
$420,800
‐5.1%
‐3.0%
‐5.4%
‐14.3%
$7,350,257
$5,235,105
$1,448,716
$401,405
‐2.8%
1.0%
‐11.6%
‐4.6%
$7,256,742
$5,289,399
$1,295,113
$351,063
‐1.3%
1.0%
‐10.6%
‐12.5%
$7,088,682
$5,369,297
$1,098,735
$349,852
‐2.3%
1.5%
‐15.2%
‐0.3%
$839,102
8.0%
$862,518
2.8%
$886,072
2.7%
$893,642
0.9%
$43,037
NA
$58,301
NA
$71,336
NA
$81,703
NA
Q1 2009
1
1
1
Net i nteres t ma rgi n
Covera ge ra ti o {(ALLL+All oc tra ns fer ris k)/Noncurrent l oa ns )}
Los s provis ion to net cha rge‐offs (qtr)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
TARP CPP Funds Disbursed
$171,385
$4,942,726
$1,787,046
$767,594
$121,824
$333,625
$766,110
Return on equity
1
Institution Count
56
$ mil lions %chg from prev $ mil li ons %chg from prev $ mil lions
%chg from prev $ mil li ons
%chg from prev
$8,414,192
‐3.8% $8,226,857
‐2.2%
$8,157,278
‐0.8%
$7,997,712
‐2.0%
$4,351,622
‐2.7% $4,281,078
‐1.6%
$4,136,028
‐3.4%
$4,031,747
‐2.5%
$188,779
‐4.1%
$179,716
‐4.8%
$170,971
‐4.9%
$161,960
‐5.3%
$1,145,865
0.2% $1,127,101
‐1.6%
$1,068,514
‐5.2%
$1,065,275
‐0.3%
$479,606
0.8%
$475,957
‐0.8%
$469,313
‐1.4%
$464,400
‐1.0%
$292,775
‐13.8%
$290,482
‐0.8%
$285,938
‐1.6%
$284,212
‐0.6%
$376,231
0.9%
$377,664
0.4%
$378,619
0.3%
$373,181
‐1.4%
$928,505
‐4.8%
$871,622
‐6.1%
$797,404
‐8.5%
$750,256
‐5.9%
$324,632
0.5%
$324,631
0.0%
$325,887
0.4%
$326,291
0.1%
Tier 1 leverage ra tio
Tier 1 ris k ba s ed ca pita l ra tio
Tota l ri s k ba s ed ca pita l ra ti o
Return on a s s ets
Entities in CPP
21
1
Q2 2009
Q4 2009
Q3 2009
7.5%
10.0%
13.3%
7.8%
10.4%
13.7%
8.1%
10.8%
14.1%
8.3%
11.0%
14.2%
5.8%
0.5%
2.2%
3.1%
0.5%
0.1%
0.2%
0.3%
3.5%
71.5%
165.7%
3.6%
69.5%
140.1%
3.5%
64.1%
121.9%
3.5%
59.6%
113.7%
2.4%
3.0%
3.2%
3.2%
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
10.4%
8.3%
2.0%
3.7%
1.8%
2.4%
2.4%
4.2%
Q2 2009
13.7%
9.2%
2.0%
3.8%
1.9%
3.1%
3.5%
4.8%
Q3 2009
16.4%
11.2%
2.1%
3.5%
1.9%
4.1%
4.2%
5.7%
Gross Charge‐Offs
Q4 2009
17.2%
13.4%
2.1%
3.7%
2.0%
3.9%
4.9%
6.4%
Q1 2009
0.8%
0.4%
0.7%
2.2%
1.0%
0.5%
0.1%
0.6%
Q2 2009
1.2%
0.6%
0.9%
2.9%
1.1%
0.7%
0.2%
0.8%
Less than $1
$1 ‐ $10 Billion
Billion
8
14
Q3 2009
1.5%
0.6%
0.9%
2.9%
1.1%
0.8%
0.3%
0.9%
$10 ‐ $100
Billion
19
Q4 2009
1.8%
0.6%
0.9%
2.6%
1.0%
0.8%
0.4%
0.9%
More than $100
Billion
15
Notes:
The Hartford Financial Services Group (although a part of Treasury's Monthly Intermediation Snapshot "Top 22" reporting group) is not included in the "21 Largest Bank Holding
Companies" group as it is a Thrift Holding Company and not a bank holding company.
8
II. Independent Banks and Subsidiaries of Holding Companies Receiving CPP Capital in Q4 2008
(excludes Top 21 BHCs)
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commi tments
Securi ti za ti on outsta ndi ng pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i ss ue)
As s et‐ba cked securi ti es
Other s ecuri ti es
Ca s h & ba l a nces due
Res i denti a l mortga ge ori gi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Deposi ts
Tota l other borrowi ngs
FHLB a dva nces
Equity
Equi ty ca pi ta l a t qua rter end
Stock s a l es a nd tra ns a cti ons wi th pa rent hol di ng compa ny
(cumul a ti ve through ca l ender yea r)
Performance Ratios
Institution Count
290
TARP CPP Funds Disbursed
$19,564
Q2 2009
Q3 2009
Q4 2009
$ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev
$888,240
0.1%
$879,537
‐1.0%
$893,315
1.6%
$888,114
‐0.6%
$637,770
‐0.6%
$632,305
‐0.9%
$624,952
‐1.2%
$617,490
‐1.2%
$93,091
‐2.6%
$87,316
‐6.2%
$81,329
‐6.9%
$74,084
‐8.9%
$117,691
0.7%
$117,081
‐0.5%
$114,467
‐2.2%
$114,930
0.4%
$43,922
2.5%
$44,532
1.4%
$45,224
1.6%
$45,545
0.7%
$2,022
‐3.3%
$2,061
1.9%
$2,074
0.6%
$2,119
2.2%
$28,294
‐5.9%
$27,257
‐3.7%
$27,265
0.0%
$26,686
‐2.1%
$122,654
‐2.4%
$119,474
‐2.6%
$116,055
‐2.9%
$113,288
‐2.4%
$171,263
1.5%
$174,489
1.9%
$177,787
1.9%
$179,844
1.2%
$176,002
$41,663
$95,930
$2,862
$40,762
$34,299
‐2.7%
‐0.2%
5.9%
‐2.4%
‐3.6%
15.4%
$162,924
$40,180
$97,458
$458
$44,131
$32,792
‐7.4%
‐3.6%
1.6%
‐84.0%
8.3%
‐4.4%
$159,066
$40,342
$102,891
$850
$47,445
$45,131
‐2.4%
0.4%
5.6%
85.6%
7.5%
37.6%
$156,089
$39,266
$105,031
$1,077
$44,636
$42,488
‐1.9%
‐2.7%
2.1%
26.7%
‐5.9%
‐5.9%
$15,598
$46
$13,864
$19
142.5%
12.4%
127.0%
‐3.7%
$18,664
$46
$17,366
$14
19.7%
2.1%
25.3%
‐24.1%
$11,964
$19
$13,687
$15
‐35.9%
‐59.4%
‐21.2%
2.7%
$11,761
$21
$11,408
$14
‐1.7%
13.0%
‐16.7%
‐2.7%
$795,623
$646,082
$126,656
$82,253
0.3%
2.6%
‐9.7%
‐14.0%
$788,237
$649,926
$116,297
$77,954
‐0.9%
0.6%
‐8.2%
‐5.2%
$800,166
$669,999
$108,057
$74,209
1.5%
3.1%
‐7.1%
‐4.8%
$795,841
$673,409
$103,362
$68,184
‐0.5%
0.5%
‐4.3%
‐8.1%
$91,691
‐2.4%
$90,381
‐1.4%
$92,228
2.0%
$91,168
‐1.1%
$1,523
NA
$3,002
NA
$5,881
NA
$7,450
NA
Q1 2009
Ti er 1 l evera ge ra ti o
Ti er 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ri sk ba s ed ca pi ta l ra ti o
Q2 2009
Q3 2009
Q4 2009
8.4%
10.2%
12.5%
8.3%
10.2%
12.3%
8.4%
10.5%
12.7%
8.3%
10.8%
12.9%
1
‐15.6%
‐10.4%
‐10.4%
‐8.5%
1
‐1.6%
‐1.1%
‐1.1%
‐0.9%
3.4%
59.7%
143.2%
3.5%
57.8%
139.0%
3.6%
55.6%
122.3%
3.7%
56.0%
129.9%
1.8%
2.6%
2.7%
2.9%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n
Covera ge ra ti o {(ALLL+Al l oc tra ns fer ri s k)/Noncurrent l oa ns )}
Los s provi s i on to net cha rge‐offs (qtr)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
Entities in CPP
190
1
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
11.0%
3.4%
1.0%
2.8%
0.8%
2.1%
2.0%
3.4%
Q2 2009
12.9%
4.0%
0.9%
2.7%
0.9%
2.6%
2.4%
4.0%
Q3 2009
15.0%
4.4%
0.9%
2.4%
1.0%
2.7%
3.1%
4.5%
Gross Charge‐Offs
Q4 2009
16.5%
4.7%
1.0%
2.4%
1.2%
2.7%
3.6%
4.8%
Q1 2009
1.2%
0.2%
0.3%
1.7%
0.9%
0.6%
0.1%
0.5%
Less than $1
Billion
149
Q2 2009
2.2%
0.3%
0.4%
2.0%
0.6%
0.7%
0.2%
0.7%
$1 ‐ $10 Billion
116
Q3 2009
2.1%
0.4%
0.4%
1.9%
0.6%
0.8%
0.3%
0.7%
$10 ‐ $100
Billion
25
Q4 2009
2.7%
0.4%
0.5%
1.8%
0.6%
0.8%
0.4%
0.8%
More than $100
Billion
0
9
III. Independent Banks and Subsidiaries of Holding Companies Receiving CPP Capital in Q1 2009
(excludes Top 21 BHCs)
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loans
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commi tments
Securi ti zati on outs tandi ng pri nci pal
Mortga ge‐ba cked s ecuri ti es (GSE and pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ti es
Ca s h & ba la nces due
Res i denti a l mortga ge ori gi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos i ts
Total other borrowi ngs
FHLB adva nces
Equity
Equi ty ca pi tal a t quarter end
Stock s a l es a nd tra ns a cti ons with pa rent hol di ng company
(cumula ti ve through ca l ender yea r)
Performance Ratios
Institution Count
363
TARP CPP Funds Disbursed
$7,933
Q2 2009
Q3 2009
Q4 2009
$ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev
$366,403
4.1%
$370,100
1.0%
$373,586
0.9%
$400,199
7.1%
$264,827
1.1%
$265,528
0.3%
$259,902
‐2.1%
$286,524
10.2%
$33,021
‐2.1%
$31,966
‐3.2%
$30,314
‐5.2%
$27,992
‐7.7%
$55,728
4.3%
$55,731
0.0%
$53,651
‐3.7%
$53,172
‐0.9%
$11,147
2.7%
$11,562
3.7%
$11,766
1.8%
$11,796
0.3%
$25,884
‐5.3%
$25,615
‐1.0%
$20,294
‐20.8%
$48,552
139.2%
$12,010
3.0%
$12,063
0.4%
$12,875
6.7%
$13,198
2.5%
$39,834
0.1%
$39,536
‐0.7%
$39,005
‐1.3%
$38,922
‐0.2%
$66,451
2.8%
$68,463
3.0%
$70,036
2.3%
$70,801
1.1%
$238,140
$22,674
$32,551
$1,084
$28,957
$14,790
‐6.2%
‐3.1%
8.7%
16.9%
43.2%
‐10.0%
$225,191
$22,942
$34,155
$1,316
$25,213
$19,611
‐5.4%
1.2%
4.9%
21.4%
‐12.9%
32.6%
$221,747
$26,883
$33,397
$4,235
$22,390
$27,671
‐1.5%
17.2%
‐2.2%
221.9%
‐11.2%
41.1%
$215,047
$334
$31,693
$532
$24,031
$33,616
‐3.0%
‐98.8%
‐5.1%
‐87.4%
7.3%
21.5%
$9,891
$0
$9,302
$0
88.0%
‐‐
84.5%
‐100.0%
$12,943
$0
$12,467
$0
30.9%
‐‐
34.0%
‐‐
$8,674
$0
$9,247
$0
‐33.0%
‐‐
‐25.8%
‐‐
$8,856
$0
$8,612
$0
2.1%
‐‐
‐6.9%
‐‐
$329,114
$274,665
$48,326
$33,031
2.9%
3.4%
0.4%
‐8.5%
$332,186
$281,679
$44,227
$30,859
0.9%
2.6%
‐8.5%
‐6.6%
$334,914
$286,566
$41,844
$29,537
0.8%
1.7%
‐5.4%
‐4.3%
$363,122
$294,537
$62,398
$28,251
8.4%
2.8%
49.1%
‐4.4%
$37,061
15.6%
$37,685
1.7%
$38,386
1.9%
$36,791
‐4.2%
$4,377
NA
$5,227
NA
$5,716
NA
$6,331
NA
Q1 2009
Q3 2009
Q2 2009
9.4%
11.5%
12.9%
9.3%
12.0%
13.4%
1
‐1.3%
1
‐0.1%
Ti er 1 levera ge ra ti o
Ti er 1 ri s k bas ed ca pi ta l ra ti o
Total ri s k ba s ed ca pi tal ra tio
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n
Coverage ra ti o {(ALLL+Al l oc tra ns fer ri s k)/Noncurrent l oans )}
Los s provi s i on to net cha rge‐offs (qtr)
Net charge‐offs to a vera ge l oa ns a nd l eas es
1
Entities in CPP
317
1
Q4 2009
9.4%
11.5%
12.9%
8.7%
11.2%
12.8%
‐4.3%
‐8.0%
‐6.4%
‐0.4%
‐0.8%
‐0.6%
3.6%
68.8%
178.1%
3.7%
62.1%
127.9%
3.6%
55.5%
121.5%
3.8%
68.4%
112.0%
1.6%
2.6%
2.6%
2.9%
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
8.6%
3.6%
1.1%
3.3%
0.9%
2.6%
2.1%
3.3%
Noncurrent Loans
Q2 2009
Q3 2009
11.5%
14.2%
4.2%
4.9%
1.1%
1.2%
3.1%
3.2%
0.9%
1.0%
2.9%
4.0%
2.7%
3.5%
4.0%
4.8%
Q4 2009
15.5%
5.3%
1.2%
3.4%
1.1%
3.5%
3.5%
4.7%
Q1 2009
0.7%
0.2%
0.2%
1.9%
0.7%
0.3%
0.1%
0.4%
Less than $1
Billion
286
Gross Charge‐Offs
Q2 2009
Q3 2009
1.3%
1.8%
0.2%
0.2%
0.2%
0.3%
2.3%
2.2%
0.7%
0.7%
0.8%
0.5%
0.3%
0.2%
0.7%
0.7%
$1 ‐ $10 Billion
71
$10 ‐ $100
Billion
6
Q4 2009
2.1%
0.2%
0.4%
2.0%
0.6%
0.7%
0.3%
0.8%
More than $100
Billion
0
10
IV. Independent Banks and Subsidiaries of Holding Companies Receiving CPP Capital in Q2 2009
(excludes Top 21 BHCs)
Entities in CPP
116
Institution Count
147
TARP CPP Funds Disbursed
$4,437
Q2 2009
Q3 2009
Q4 2009
Q1 2009
Selected balance and off‐balance sheet items
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
%chg from prev $ mi l l i ons
$47,501
$36,208
$5,769
$6,690
$2,034
$14
$665
$5,387
$12,299
1.6%
0.4%
‐3.6%
3.6%
2.9%
‐4.7%
‐7.2%
‐3.0%
2.2%
$48,270
$36,296
$5,364
$6,817
$2,049
$15
$724
$5,332
$12,561
1.6%
0.2%
‐7.0%
1.9%
0.7%
5.0%
9.0%
‐1.0%
2.1%
$49,367
$36,292
$5,064
$6,741
$2,129
$15
$727
$5,294
$12,795
2.3%
0.0%
‐5.6%
‐1.1%
3.9%
0.8%
0.4%
‐0.7%
1.9%
$49,373
$36,191
$4,719
$6,849
$2,124
$14
$689
$5,271
$12,908
0.0%
‐0.3%
‐6.8%
1.6%
‐0.2%
‐5.4%
‐5.2%
‐0.4%
0.9%
Unus ed commi tments
Securi ti za tion outs tandi ng pri nci pa l
Mortgage‐backed s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐backed s ecuri ti es
Other s ecuri ti es
Ca s h & ba l ances due
$6,058
$135
$3,145
$9
$3,066
$1,916
‐6.0%
‐2.6%
1.4%
109.8%
0.8%
19.4%
$5,548
$132
$3,157
$20
$3,176
$2,325
‐8.4%
‐1.8%
0.4%
111.0%
3.6%
21.4%
$5,459
$121
$3,301
$5
$3,526
$2,753
‐1.6%
‐8.9%
4.6%
‐76.8%
11.0%
18.4%
$5,132
$119
$3,213
$4
$3,682
$2,610
‐6.0%
‐1.7%
‐2.7%
‐1.7%
4.4%
‐5.2%
Res i denti al mortgage ori gi na tions
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
$1,440
$0
$1,313
$0
249.4%
‐‐
245.4%
‐‐
$2,289
$2
$2,136
$0
59.0%
‐‐
62.6%
‐‐
$1,274
$1
$1,439
$0
‐44.3%
‐63.0%
‐32.6%
‐‐
$1,555
$1
$1,435
$0
22.1%
68.0%
‐0.3%
‐‐
$43,198
$38,364
$4,494
$4,509
1.8%
3.4%
‐9.2%
‐7.7%
$43,343
$38,517
$4,457
$4,477
0.3%
0.4%
‐0.8%
‐0.7%
$44,305
$39,602
$4,378
$4,351
2.2%
2.8%
‐1.8%
‐2.8%
$44,404
$39,678
$4,393
$4,459
0.2%
0.2%
0.3%
2.5%
$4,302
‐0.2%
$4,928
14.5%
$5,062
2.7%
$4,969
‐1.8%
$15
NA
$497
NA
$546
NA
$615
NA
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Liabilities
Depos its
Total other borrowi ngs
FHLB a dva nces
Equity
Equi ty capi tal a t qua rter end
Stock s a les a nd tra ns acti ons wi th pa rent hol di ng company
(cumul a ti ve through ca lender yea r)
Performance Ratios
$ mi l l i ons
Q1 2009
Ti er 1 l evera ge ra ti o
Ti er 1 ri s k bas ed capi tal rati o
Total ris k ba s ed ca pi ta l ra ti o
Q3 2009
9.5%
11.8%
13.1%
Q4 2009
9.4%
12.0%
13.3%
9.3%
11.9%
13.2%
1
‐0.4%
‐2.3%
2.1%
‐7.8%
1
0.0%
‐0.2%
0.2%
‐0.8%
3.5%
48.2%
119.3%
3.6%
47.3%
159.8%
3.7%
48.1%
176.0%
3.9%
48.0%
113.6%
0.8%
1.1%
1.3%
2.0%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n
Covera ge ra ti o {(ALLL+All oc trans fer ri s k)/Noncurrent l oa ns )}
Los s provi s i on to net cha rge‐offs (qtr)
Net cha rge‐offs to a vera ge loa ns a nd lea s es
1
Q2 2009
8.6%
10.7%
11.9%
%chg from prev
1
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
7.4%
2.5%
0.7%
1.3%
1.1%
2.5%
2.4%
3.0%
Noncurrent Loans
Q2 2009
Q3 2009
7.8%
9.0%
3.3%
3.5%
0.8%
1.1%
1.4%
0.9%
1.0%
1.0%
2.4%
2.7%
2.8%
3.4%
3.3%
3.8%
Q4 2009
10.6%
3.7%
1.1%
0.9%
1.2%
2.8%
3.2%
3.9%
Q1 2009
0.6%
0.1%
0.1%
0.7%
0.4%
0.2%
0.1%
0.2%
Less than $1
Billion
141
Gross Charge‐Offs
Q2 2009
Q3 2009
0.6%
0.8%
0.2%
0.2%
0.1%
0.1%
0.8%
1.1%
0.4%
0.6%
0.6%
0.4%
0.2%
0.2%
0.3%
0.3%
$1 ‐ $10 Billion
6
$10 ‐ $100
Billion
0
Q4 2009
1.5%
0.3%
0.3%
0.7%
0.6%
0.7%
0.3%
0.5%
More than $100
Billion
0
11
V. Independent Banks and Subsidiaries of Holding Companies Receiving CPP Capital in Q3 2009
(excludes Top 21 BHCs)
Entities in CPP
36
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commitments
Securiti za ti on outs ta ndi ng princi pa l
Mortga ge‐backed s ecurities (GSE a nd private is s ue)
As s et‐backed s ecuri ties
Other s ecuriti es
Cas h & ba la nces due
Res idential mortgage origina ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos i ts
Total other borrowings
FHLB adva nces
Equity
Equity capital a t qua rter end
Stock s a l es and trans a ctions with pa rent holding compa ny
(cumula ti ve through ca lender yea r)
Performance Ratios
$ mill ions
Q3 2009
%chg from prev
$ mill ions
Q4 2009
%chg from prev
$ mi lli ons
%chg from prev
3.8%
0.1%
‐1.9%
3.1%
2.3%
‐7.1%
‐2.4%
‐5.1%
0.8%
$20,224
$14,754
$2,383
$2,659
$1,309
$20
$589
$2,009
$4,361
‐1.0%
0.9%
‐4.1%
2.3%
‐0.1%
37.7%
0.7%
0.6%
3.3%
$20,757
$14,645
$2,218
$2,638
$1,300
$20
$578
$1,966
$4,478
2.6%
‐0.7%
‐6.9%
‐0.8%
‐0.6%
‐2.6%
‐1.7%
‐2.2%
2.7%
$21,007
$14,498
$2,019
$2,664
$1,289
$19
$554
$1,953
$4,530
1.2%
‐1.0%
‐9.0%
1.0%
‐0.9%
‐4.8%
‐4.1%
‐0.7%
1.2%
$2,861
$0
$2,161
$0
$1,334
$1,089
‐4.7%
‐‐
8.9%
‐17.5%
21.5%
13.5%
$2,663
$2
$2,121
$0
$1,285
$895
‐6.9%
‐‐
‐1.8%
‐95.0%
‐3.6%
‐17.8%
$2,613
$2
$2,239
$0
$1,333
$1,313
‐1.9%
0.5%
5.5%
0.0%
3.7%
46.7%
$2,465
$0
$2,392
$0
$1,441
$1,393
‐5.7%
‐81.1%
6.9%
‐50.0%
8.1%
6.1%
$279
$0
$258
$0
102.7%
‐‐
97.9%
‐‐
$353
$0
$319
$0
26.7%
‐‐
23.8%
‐‐
$206
$0
$258
$0
‐41.6%
‐‐
‐19.1%
‐‐
$196
$0
$185
$0
‐5.2%
‐‐
‐28.2%
‐‐
$18,612
$16,412
$2,060
$1,556
4.1%
4.6%
0.9%
‐3.5%
$18,404
$16,456
$1,802
$1,606
‐1.1%
0.3%
‐12.5%
3.2%
$18,696
$16,811
$1,734
$1,560
1.6%
2.2%
‐3.8%
‐2.9%
$19,026
$17,223
$1,664
$1,617
1.8%
2.4%
‐4.1%
3.7%
$1,819
1.3%
$1,820
0.1%
$2,061
13.3%
$1,981
‐3.9%
$11
NA
$20
NA
$256
NA
$271
NA
Q1 2009
1
1
1
Net i nteres t ma rgi n
Coverage ra tio {(ALLL+All oc trans fer ri s k)/Noncurrent loans )}
Los s provis i on to net cha rge‐offs (qtr)
Net cha rge‐offs to a verage loans and leas es
$ mill ions
TARP CPP Funds Disbursed
$1,411
$20,431
$14,627
$2,485
$2,599
$1,310
$15
$585
$1,998
$4,223
Return on equity
1
Q2 2009
%chg from prev
Tier 1 levera ge ratio
Tier 1 ri s k bas ed capital ra tio
Total ri s k bas ed capita l ra tio
Return on a s s ets
Institution Count
46
1
Q2 2009
Q3 2009
Q4 2009
8.2%
10.3%
11.5%
8.2%
10.3%
11.5%
9.2%
11.6%
12.9%
8.6%
11.2%
12.5%
3.7%
1.3%
‐4.8%
‐15.0%
0.3%
0.1%
‐0.5%
‐1.5%
3.3%
56.7%
129.6%
3.5%
52.9%
128.8%
3.7%
55.3%
152.6%
3.7%
53.4%
149.9%
0.5%
0.8%
1.5%
3.0%
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
8.1%
1.6%
0.8%
0.3%
0.7%
1.5%
1.5%
2.6%
Q2 2009
8.7%
2.2%
1.0%
0.3%
0.7%
1.9%
1.8%
2.9%
Gross Charge‐Offs
Q3 2009
9.8%
2.7%
1.1%
0.6%
1.1%
1.5%
2.3%
3.2%
Q4 2009
13.3%
3.2%
1.3%
0.5%
0.9%
1.5%
3.4%
4.0%
Q1 2009
Q2 2009
0.3%
0.1%
0.2%
1.3%
0.4%
0.1%
0.0%
0.2%
Less than $1
Billion
42
0.6%
0.1%
0.2%
0.5%
0.5%
0.2%
0.1%
0.2%
$1 ‐ $10 Billion
4
Q3 2009
1.1%
0.2%
0.4%
0.6%
0.5%
0.5%
0.1%
0.4%
$10 ‐ $100
Billion
0
Q4 2009
2.3%
0.5%
0.4%
0.6%
0.5%
0.5%
0.5%
0.8%
More than $100
Billion
0
12
VI. Independent Banks and Subsidiaries of Holding Companies Receiving CPP Capital in Q4 2009
(excludes Top 21 BHCs)
Entities in CPP
22
Institution Count
34
TARP CPP Funds Disbursed
$162
Q2 2009
Q3 2009
Q4 2009
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loans
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commi tments
Securiti zati on outs tandi ng pri ncipa l
Mortga ge‐ba cked s ecuriti es (GSE a nd pri vate is s ue)
Ass et‐backed s ecuri ti es
Other s ecuri ti es
Cas h & ba l ances due
Res i dentia l mortgage origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos its
Tota l other borrowi ngs
FHLB adva nces
Equity
Equi ty capital at qua rter end
Stock s a les a nd tra ns a ctions wi th pa rent hol di ng compa ny
(cumul a ti ve through cal ender year)
Performance Ratios
$ mi ll ions %chg from prev $ mi ll i ons %chg from prev $ mil li ons
%chg from prev $ mi ll ions
$6,812
2.0%
$6,951
2.0%
$7,054
1.5%
$4,966
0.3%
$5,040
1.5%
$5,123
1.6%
$698
0.2%
$679
‐2.6%
$616
‐9.3%
$1,076
0.3%
$1,081
0.5%
$1,095
1.3%
$179
5.8%
$183
2.3%
$186
1.5%
$2
‐50.9%
$1
‐25.0%
$1
‐4.0%
$128
‐8.2%
$129
0.1%
$129
0.2%
$851
‐0.2%
$866
1.8%
$900
3.9%
$1,667
‐0.2%
$1,714
2.8%
$1,792
4.5%
‐1.6%
62500.0%
‐2.2%
‐3.3%
‐5.8%
38.6%
$929
$3
$419
$1
$652
$385
‐1.2%
‐0.2%
‐0.7%
‐5.1%
14.8%
13.7%
$869
$0
$422
$1
$647
$458
‐6.5%
‐100.0%
0.9%
‐3.4%
‐0.8%
18.9%
$856
$0
$414
$1
$662
$625
‐1.4%
‐‐
‐1.9%
‐3.4%
2.3%
36.4%
$70
$0
$65
$0
250.5%
‐‐
208.6%
‐‐
$53
$0
$55
$0
‐23.7%
‐‐
‐15.5%
‐‐
$30
$0
$31
$0
‐43.5%
‐‐
‐43.1%
‐‐
$28
$0
$28
$0
‐5.2%
‐‐
‐11.1%
‐‐
$6,106
$5,496
$571
$595
2.2%
3.4%
‐7.2%
‐16.5%
$6,220
$5,618
$558
$529
1.9%
2.2%
‐2.3%
‐11.0%
$6,341
$5,789
$505
$479
1.9%
3.0%
‐9.5%
‐9.6%
$6,500
$5,937
$521
$503
2.5%
2.6%
3.2%
5.1%
$706
0.0%
$731
3.4%
$713
‐2.4%
$793
11.1%
$11
NA
$44
NA
$47
NA
$145
NA
Q1 2009
1
1
1
Net i nteres t margin
Coverage ra ti o {(ALLL+Al l oc trans fer ris k)/Noncurrent loa ns )}
Los s provi s ion to net cha rge‐offs (qtr)
Net cha rge‐offs to average loans and l ea s es
Q2 2009
9.4%
11.7%
13.0%
Return on equi ty
1
%chg from prev
3.4%
0.7%
‐6.8%
‐1.9%
6.4%
‐1.0%
‐0.2%
1.0%
4.4%
$940
$3
$422
$1
$568
$339
Tier 1 l everage ra tio
Tier 1 ri sk bas ed capital ratio
Tota l ris k bas ed ca pi tal ra ti o
Return on a s s ets
$7,292
$5,159
$574
$1,074
$198
$1
$129
$909
$1,871
1
Q3 2009
Q4 2009
9.5%
11.9%
13.2%
9.2%
11.9%
13.2%
10.2%
13.3%
14.5%
‐2.4%
‐3.8%
‐17.0%
‐6.1%
‐0.2%
‐0.4%
‐1.8%
‐0.6%
3.4%
59.9%
327.8%
3.4%
55.8%
117.1%
3.6%
57.5%
110.4%
3.8%
56.4%
109.5%
0.3%
0.7%
1.3%
1.4%
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
9.4%
2.3%
0.6%
2.1%
1.1%
2.2%
1.8%
3.1%
Q2 2009
12.0%
2.1%
1.5%
3.3%
1.2%
2.5%
1.4%
3.3%
Q3 2009
10.4%
2.0%
0.9%
3.9%
1.1%
2.6%
2.0%
3.2%
Gross Charge‐Offs
Q4 2009
8.9%
2.3%
0.9%
2.0%
1.0%
2.1%
2.3%
2.9%
Q1 2009
0.1%
0.0%
0.1%
1.2%
0.2%
0.2%
0.0%
0.1%
Less than $1
Billion
34
Q2 2009
0.6%
0.2%
0.0%
1.0%
0.2%
0.2%
0.1%
0.2%
Q3 2009
Q4 2009
0.6%
0.3%
0.1%
0.6%
0.4%
0.5%
0.2%
0.3%
$1 ‐ $10 Billion $10 ‐ $100 Billion
0
0
1.2%
0.2%
0.2%
5.0%
0.5%
0.6%
0.2%
0.4%
More than $100
Billion
0
13
VII. Insured Institutions Not in Groups Receiving CPP Capital
Institution Count
7,076
Q1 2009
Selected balance and off‐balance sheet items
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Unus ed commi tments
Securi ti za ti on outs ta ndi ng pri nci pa l
Mortgage‐backed s ecuri ti es (GSE a nd priva te i s s ue)
Ass et‐ba cked s ecuri ties
Other securiti es
Cas h & ba l ances due
Res i denti a l mortga ge ori gi na tions
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos its
Tota l other borrowi ngs
FHLB a dva nces
Equity
Equi ty ca pi ta l a t qua rter end
Stock sa l es a nd tra nsa cti ons wi th pa rent hol di ng compa ny
(cumula ti ve through ca l ender yea r)
Performance Ratios
‐4.2%
‐1.1%
‐3.6%
4.2%
5.0%
‐2.6%
$1,176,289
$28,979
$407,839
$18,304
$268,811
$233,570
‐6.2%
‐1.7%
‐0.9%
11.6%
6.2%
0.5%
$1,149,262
$25,858
$409,646
$19,250
$278,884
$263,365
‐2.3%
‐10.8%
0.4%
5.2%
3.7%
12.8%
$1,134,616
$26,419
$409,026
$21,882
$307,105
$286,574
‐1.3%
2.2%
‐0.2%
13.7%
10.1%
8.8%
$77,180
$43
$70,164
$327
93.6%
‐50.3%
71.2%
4033.4%
$92,340
$54
$91,717
$48
19.6%
26.1%
30.7%
‐85.2%
$50,103
$27
$57,032
$4
‐45.7%
‐50.2%
‐37.8%
‐92.0%
$53,257
$126
$54,529
$626
6.3%
365.8%
‐4.4%
16108.2%
$3,395,024
$2,791,260
$518,993
$264,823
‐0.1%
1.8%
‐7.4%
‐9.3%
$3,339,965
$2,793,846
$466,845
$260,679
‐1.6%
0.1%
‐10.0%
‐1.6%
$3,322,670
$2,792,895
$451,128
$239,730
‐0.5%
0.0%
‐3.4%
‐8.0%
$3,323,929
$2,826,705
$423,632
$227,414
0.0%
1.2%
‐6.1%
‐5.1%
$397,154
4.2%
$405,801
2.2%
$418,795
3.2%
$418,096
‐0.2%
$7,015
NA
$14,005
NA
$21,031
NA
$28,732
NA
Q2 2009
Q1 2009
1
1
1
Net i nteres t ma rgi n
Covera ge rati o {(ALLL+Al l oc tra ns fer ri s k)/Noncurrent l oans )}
Los s provi s ion to net cha rge‐offs (qtr)
Net charge‐offs to a vera ge l oa ns a nd l eas es
Q4 2009
$1,253,674
$29,488
$411,648
$16,399
$253,092
$232,322
Return on equi ty
1
Q3 2009
$ mi l l i ons %chg from prev $ mi l l i ons
%chg from prev
$ mi l l ions
%chg from prev
$ mil l i ons
%chg from prev
$3,794,674
0.4%
$3,748,215
‐1.2%
$3,745,267
‐0.1%
$3,745,757
0.0%
$2,426,334
‐0.8%
$2,393,162
‐1.4%
$2,340,683
‐2.2%
$2,298,330
‐1.8%
$242,832
‐4.9%
$228,279
‐6.0%
$202,484
‐11.3%
$180,163
‐11.0%
$715,668
‐0.7%
$701,725
‐1.9%
$680,771
‐3.0%
$672,750
‐1.2%
$136,037
0.6%
$137,314
0.9%
$137,554
0.2%
$136,094
‐1.1%
$82,360
8.8%
$80,039
‐2.8%
$84,629
5.7%
$87,178
3.0%
$166,698
0.1%
$163,437
‐2.0%
$164,008
0.3%
$162,261
‐1.1%
$332,999
‐3.4%
$325,888
‐2.1%
$314,717
‐3.4%
$310,193
‐1.4%
$496,530
0.9%
$500,289
0.8%
$497,225
‐0.6%
$495,141
‐0.4%
Ti er 1 leverage rati o
Ti er 1 ri s k ba s ed ca pita l rati o
Tota l ris k bas ed ca pi ta l rati o
Return on as s ets
Q2 2009
1
Q3 2009
Q4 2009
9.0%
12.4%
13.9%
9.1%
12.6%
14.2%
9.4%
13.3%
14.8%
9.4%
13.7%
15.3%
‐2.5%
‐2.7%
0.5%
‐3.1%
‐0.3%
‐0.3%
0.1%
‐0.3%
3.3%
56.7%
155.4%
3.3%
51.8%
127.9%
3.4%
51.9%
128.2%
3.4%
53.2%
114.7%
1.3%
1.8%
1.8%
2.4%
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q4 2009
Insured Institutions by Asset Size
Source: Call and Thrift Financial Report Data
Q1 2009
11.8%
3.1%
1.1%
2.7%
0.5%
1.8%
2.3%
3.2%
Q2 2009
14.0%
3.7%
1.1%
2.8%
0.5%
2.1%
2.7%
3.7%
Gross Charge‐Offs
Q3 2009
Q4 2009
14.2%
4.0%
1.1%
2.7%
0.6%
2.5%
3.0%
3.8%
Q1 2009
14.8%
4.0%
1.2%
2.7%
0.6%
2.5%
3.3%
3.8%
Q2 2009
0.7%
0.2%
0.4%
1.7%
0.6%
0.3%
0.1%
0.3%
Less than $1 Billion
6,680
1.4%
0.3%
0.5%
2.2%
0.5%
0.5%
0.1%
0.5%
$1 ‐ $10 Billion
354
Q3 2009
1.3%
0.3%
0.5%
2.3%
0.5%
0.5%
0.2%
0.5%
$10 ‐ $100
Billion
39
Q4 2009
1.9%
0.5%
0.5%
2.2%
0.5%
0.6%
0.3%
0.6%
More than $100
Billion
3
14
Appendix A: Notes to Call and Thrift Financial Report Data Users
The Treasury Department invested $205 billion in banking organizations participating in the
Troubled Asset Relief Program’s Capital Purchase Program between October 28, 2008, and
December 31, 2009. These investments went to 702 independent banks and bank and thrift
holding companies. Treasury and the bank regulatory agencies use quarterly Call Report and
Thrift Financial Report data to analyze changes in balance sheets, loan provisioning, and
intermediation activities. The summary tables above present aggregated Call and Thrift
Financial Report data for the FDIC-insured institutions in banking organizations that received
TARP capital under the CPP.
Templates summarizing selected balance sheet items and performance and condition ratios were
developed after consultation with members of an interagency working group. Quarterly changes
in loan balances, commitments, securities, and residential real estate loan originations for sale
address banks’ credit intermediation activities.10 Changes in total equity capital at quarter-end,
as well as changes in stock sales and transactions with parent holding companies during the
quarter are summed for each group (banks were instructed to report CPP capital infusions in
these items). Weighted average performance ratios were calculated for each group, as were
weighted average noncurrent rates and gross charge-off rates (not net of recoveries) for major
loan types. These summary tables allow comparison of growth, asset quality, performance, and
condition between groups based on size, whether or not they received CPP capital, and timing of
receipt of CPP capital.
Data were collected for five quarters, Q4 2008 through Q4 2009, and percent changes from the
previous quarter were calculated for Q1 2009, Q2 2009, Q3 2009, and Q4 2009. Data items
were “merger-adjusted” to include institutions that had been acquired during the period from
January 1, 2009, to December 31, 2009.
10
Call Report filers with assets over $1 billion or more than $10 million in mortgage origination for two consecutive
quarters report residential loans originated for sale.
15
Insured Institutions by Asset Size Category (as of Q4 2009)
I. Subsidiaries of Largest BHCs
Receiving CPP Funds
II. Independent Banks and
Subsidiaries of Smaller Holding
Companies Receiving CPP Funds in
4Q 2008
III. Independent Banks and
Subsidiaries of Holding Companies
Receiving CPP Funds in 1Q 2009
IV. Independent Banks and
Subsidiaries of Holding Companies
Receiving CPP Funds in 2Q 2009
V. Independent Banks and
Subsidiaries of Holding Companies
Receiving CPP Funds in 3Q 2009
VI. Independent Banks and
Subsidiaries of Holding Companies
Receiving CPP Funds in 4Q 2009
VII. Insured Institutions Not in
Groups Receiving CPP Funds
Total
Entities in
CPP
21
Insured
Less than $1
Institutions
Billion
56
8
$1 - $10
Billion
14
$10 - $100
Billion
19
More than
$100 Billion
15
190
290
149
116
25
0
317
363
286
71
6
0
116
147
141
6
0
0
36
46
42
4
0
0
22
34
34
0
0
0
7,076
6,680
354
39
3
8,012
7,340
565
89
18
702
Source: Treasury Analysis of Call and Thrift Financial Report Data
16
Section B: Consolidated Financial Statements for Bank Holding Companies (FR Y-9C
Data) Analysis
Many of Treasury’s investments through CPP have been made in bank holding companies,
which own subsidiary depository institutions and may also own other permitted types of
subsidiaries. 11 Many institutions in CPP indicated their intention to “downstream” funds to their
subsidiary depository institutions, which are the primary vehicles for financial intermediation
and traditional lending activity. The activity of these depository subsidiaries is thus included in
Call and Thrift Financial Report data, which are filed by individual depository institutions.
The Y-9C Report captures consolidated financial information from bank holding companies.
That is, the Y-9C Report captures not only the financial information of the subsidiary depository
institution(s) owned by a bank holding company, but also the financial information of any other
subsidiary owned by that bank holding company. Examples of other subsidiaries that may be
owned by bank holding companies include broker dealers, insurance companies, finance
companies, and asset management firms. This type of information is not captured in Call and
Thrift Financial Report data. As a result, Y-9C data typically present a fuller picture of bankingrelated activity for the banking organizations required to file them than Call and Thrift Financial
Report data.
In order to examine the possible effects of CPP and other stabilization initiatives on a range of
financial institutions, the interagency group chose to present Y-9C data in addition to Call and
Thrift Financial Report data. However, the aggregated Y-9C data can be somewhat more
volatile, particularly in this period of financial crisis, for multiple reasons. In some cases, those
bank holding companies with large non-depository subsidiaries were subject to greater or
different market pressures. In addition, the population of reporting holding companies shifted
significantly during this period as a noteworthy set of large financial firms chose to convert to
bank holding company status between fourth quarter 2008 and first quarter 2009. Those
institutions filed their first Y-9C reports in first quarter 2009, which resulted in large increases in
line items from fourth quarter 2008 to first quarter 2009. The increases are most pronounced in
Group I (the Top 21 CPP Participants). Four of the 21 institutions in Group I converted to bank
holding companies in the fourth quarter of 2008. 12 Similarly, two large financial firms in Group
III (U.S. Top Tier Bank Holding Companies receiving TARP Funds in Q1 2009) converted to
bank holding companies in the fourth quarter of 2008. Finally, two of the institutions in Group I
11
Investments were made at the bank holding company level for all depository institutions owned by a bank holding
company. Similarly, investments were made at the thrift holding company level for all depository institutions
owned by a thrift holding company. Thrift holding companies are not required to file detailed consolidated financial
reports.
12
The Hartford, part of Treasury's Monthly Intermediation Snapshot "Top 22" reporting group, is a thrift holding
company and does not file a Y-9C Report.
17
acquired large bank holding companies in Q4 2008. A merger adjustment has been made for
those two institutions, but otherwise the data are not merger adjusted. 13
Because the content of the Y-9C report closely follows that of the Call Report and Thrift
Financial Report, the same line items that appear in the Call and Thrift Financial Report tables
appear in the Y-9C data tables. For more detailed information on the data tables, see Appendix
B: Note to Y-9C Data Users.
The data tables are split into seven groups that mirror the seven reporting groups presented in the
Call and Thrift Financial Report tables. The groups, which consist solely of top tier bank
holding companies, are:
Group
Group I
Group II
Group III
Group IV
Group V
Group VI
Group VII
Description
The 21 Largest CPP Participants (as of December 31, 2009)
CPP Participants that were funded in Q4 2008
CPP Participants that were funded in Q1 2009
CPP Participants that were funded in Q2 2009
CPP Participants that were funded in Q3 2009
CPP Participants that were funded in Q4 2009
Non-CPP Participants (as of December 31, 2009)
Number of Institutions
in Q4 2009
20
124
132
28
5
5
698
While percentage changes from Q4 2008 to Q1 2009 are presented for balance sheet items, these
numbers should be used with caution for reasons discussed above.
13
The financial information for Wachovia Corporation (acquired by Wells Fargo & Company) and National City
Corporation (acquired by PNC Financial Services Group) is included in the Q3 2008 figures for Group I.
18
Summary of Findings
Note: All changes refer to the change between third quarter 2009 and fourth quarter 2009,
unless otherwise noted.
Selected Balance and Off-Balance Sheet Items
Overall Asset Growth
Asset growth was positive in groups III and VI. Group VI had the largest increase in total assets
(17.6%). Group I saw the largest decline in assets (-1.2%).
Loan Growth 14
All groups, except Groups III and VI, experienced negative growth in total loans. Group I
experienced the largest decline in total loan balances (-2.7%) and Group VI experienced the
largest increase (14.7%).
Changes in outstanding loan balances by specific loan category varied both by loan category and
group. No loan category had increases or decreases across all groups, C&D loans and C&I loans
only had increases in Group VI, and credit card only had a decrease in Group I. All other loan
categories experienced mixed growth by group.
Group I experienced negative growth across all loan categories except closed end 1-4 family
residential. The largest decreases were in C&I loans and C&D loans. Groups V and VII
experienced negative loan growth across all categories except credit cards.
Closed-end Mortgage and Open-end HELOC Originations 15
Closed-end mortgage originations (mortgages originated for sale and originations sold) were
mixed in all groups. The largest decreases were in Group V (-11.3% in mortgages originated for
sale, -16.2% in originations sold). The largest increases were in Group IV (24.6% in mortgages
originated for sale, 7.3% in originations sold).
All of the four groups (Groups I, II, IV and VII) that reported open-end HELOC originations in
Q4 2009 experienced increases in HELOCs originated for sale except Group I which had a
decrease. In HELOC originations sold Group VII had an increase and Groups I and II had
decreases.
Securities on Balance Sheet
Asset-backed securities (ABS) increased in Groups I, II, and VII. The largest increase in ABS
was in Group II, which saw a 21.5% increase. The largest decrease was Group III with -87.8%.
14
All loan growth figures refer to the change in outstanding loan balances.
15
Only Y-9C filers with assets over $1 billion or more than $10 million in mortgage origination for two consecutive
quarters are required to report residential loans originated for sale (see Appendix B: Notes Y-9C Data Users).
19
Other Asset Growth
Unused commitments decreased in all groups. Group IV had the largest percentage decrease
(-6.0%), while Group V had the smallest percentage decrease (-0.5%). Securitization
outstanding principal decreased across all groups expect Group VI (0.0%) and VII (2.9%).
Growth in cash & balances due was mixed with the largest increase in Group VI (51.5%) and the
smallest increase in Group I (-7.7%).
Liabilities
Total liabilities increased in all groups except groups III and VI. Group VI had the largest
increase in total liabilities (16.2%) and Group I had the smallest increase in total liabilities
(-1.1%). Deposits grew in all groups except Group IV, where deposits decreased 0.3%. Group
VI saw the largest growth in total deposits (16.5%). Total other borrowings decreased in groups
I, II, V, and VII with Group V experiencing the largest decrease (-13.9%) and Group III with the
largest increase (109.4%).
Equity
As expected, growth in equity capital was strong in Q4 2009 for Group VI (28.3%) as those
institutions received capital infusions via CPP in Q4 2009. All other groups had small negative
growth in equity capital.
Performance Ratios 16
Capital Ratios
All capital ratios increased only in Groups VI and VII. The largest increases were in Group VI,
which received CPP capital in Q4. In Groups I, III, IV, and V all capital ratios decreased. In
Group II, the tier 1 risk-based capital ratio and the total risk-based capital ratio increased and the
tier one leverage ratio decreased.
In Q4 2009, Group VI had the highest tier 1 leverage ratio (10.0%), and tier 1 risk-based capital
ratio (12.9%) and Group I had the highest total risk based capital ratio (15.0%). Group VII had
the lowest capital ratios in Q4 2009.
Earnings Ratios
Return on equity and return on assets declined in all groups except Group I in Q4 2009. Net
interest margins were positive for all groups in Q4 2009.
Loss Coverage Ratios
Coverage ratios (allowance for loan and lease losses to noncurrent loans) decreased in all groups
except Groups II, III, and IV. The largest decrease was in Group VI. In Q4 2009, Group III had
the highest coverage ratio (72.1%).
16
Performance ratios reflect weighted averages for each group (see Appendix B: Notes to Y-9C Data Users).
20
The ratio of loss provisions to net charge-offs (for the quarter) decreased in all groups except
Group V. The largest decrease was in Group VI. In Q4 2009, Group IV had the highest ratio of
loss provisions to net charge-offs (136.1%).
Net charge-offs to average loans and leases increased in all groups with the largest increase in
Group VII. In Q4 2009, Group I had the highest ratio of net charge-offs to average loans and
leases (4.2 %) while Group VI had the lowest ratio of net charge-offs to average loans and leases
(0.9 %).
Asset Quality: Noncurrent Loans
Total noncurrent loans as a percentage of total loans increased across all groups except VII. The
largest increase in the ratio of total noncurrent loans to total loans was in Group VI. In Q4 2009,
Group I had the highest ratio of total noncurrent loans to total loans (6.4%).
Asset Quality: Gross Charge-offs
Total charge-offs as a percentage of outstanding balances increased in all groups except Group I
(which experienced a decrease) and Group II (which experienced no change). In Q4 2009,
Group I, III, and VII all had the highest ratio of total charge-offs to total loans (0.9%), while
Group VI had the lowest ratio of total charge-offs to total loans in Q4 2009 (0.5%).
21
I. 21 Largest BHCs Receiving CPP Funds to Date
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Number of Institutions Reporting
$ mi l l i ons
$ mi l l i ons
21
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
Unus ed commi tments
Securi tiza tion outs ta ndi ng pri nci pa l
Mortga ge‐backed s ecuri ties (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ti es
Ca s h & ba l a nces due
Res i denti a l mortga ge ori ginations
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos i ts
Other borrowed money
Equity
Total equi ty capi ta l a t qua rter end
Stock s a l es a nd rel a ted tra ns acti ons (cumul ati ve through
cal ender yea r)
Performance Ratios
Q3 2009
%chg from prev
$ mi l l i ons
21
$11,225,532
$4,615,432
$188,233
$1,196,790
$475,274
$311,810
$498,292
$947,774
$334,734
17.1%
1.5%
‐3.9%
2.3%
2.9%
‐9.6%
4.1%
‐3.3%
3.4%
$11,128,030
$4,515,984
$179,946
$1,175,381
$472,985
$308,823
$486,545
$899,134
$331,834
‐0.9%
‐2.2%
‐4.4%
‐1.8%
‐0.5%
‐1.0%
‐2.4%
‐5.1%
‐0.9%
$11,214,310
$4,366,989
$170,582
$1,116,582
$465,277
$302,380
$499,536
$827,839
$331,720
$4,959,733
$2,554,020
$804,898
$143,552
$453,800
$881,624
‐5.4%
‐6.4%
6.7%
3.4%
28.9%
10.7%
$4,826,991
$2,484,736
$859,211
$152,057
$499,793
$763,465
‐2.7%
‐2.7%
6.7%
5.9%
10.1%
‐13.4%
$279,707
$2,933
$341,030
$3,252
74.8%
9.7%
60.1%
56.6%
$357,212
$3,429
$446,905
$2,822
$10,200,463
$4,836,840
$2,343,688
16.6%
‐1.1%
28.8%
$1,008,262
$44,038
Q4 2009
%chg from prev $ mi l l i ons
%chg from prev
21
20
0.8% $11,080,182
‐3.3% $4,249,794
‐5.2%
$162,141
‐5.0% $1,118,357
‐1.6%
$463,920
‐2.1%
$300,164
2.7%
$477,959
‐7.9%
$764,985
0.0%
$331,371
‐1.2%
‐2.7%
‐4.9%
0.2%
‐0.3%
‐0.7%
‐4.3%
‐7.6%
‐0.1%
$4,665,864
$2,439,171
$832,108
$141,586
$552,282
$805,281
‐3.3%
‐1.8%
‐3.2%
‐6.9%
10.5%
5.5%
$4,515,743
$2,420,120
$872,090
$143,529
$602,992
$794,637
‐3.2%
‐0.8%
4.8%
1.4%
9.2%
‐1.3%
27.7%
16.9%
31.0%
‐13.2%
$273,596
$3,094
$388,518
$5,165
‐23.4%
‐9.8%
‐13.1%
83.1%
$247,615
$2,467
$334,628
$3,131
‐9.5%
‐20.3%
‐13.9%
‐39.4%
$10,084,892
$4,890,147
$2,182,492
‐1.1%
1.1%
‐6.9%
$10,154,558
$4,924,949
$2,075,525
0.7% $10,042,924
0.7% $5,065,398
‐4.9% $1,967,704
‐1.1%
2.9%
‐5.2%
21.5%
$1,022,590
1.4%
$1,037,402
1.4%
$1,020,034
‐1.7%
NA
$165,395
NA
$179,538
NA
$305,470
NA
Q1 2009
Ti er 1 l evera ge ra ti o
Ti er 1 ri s k ba s ed ca pi ta l ra ti o
Total ri s k ba s ed capi ta l ratio
Q2 2009
Q4 2009
Q3 2009
7.3%
11.0%
14.6%
7.6%
11.4%
15.1%
7.8%
11.8%
15.5%
7.4%
11.4%
15.0%
1
1.8%
3.7%
4.6%
6.0%
1
0.2%
0.3%
0.4%
0.6%
0.9%
69.9%
164.0%
1.6%
69.1%
149.9%
2.4%
63.7%
138.2%
3.2%
60.0%
132.1%
0.8%
1.9%
3.1%
4.2%
Return on equi ty
Return on as s ets
1
Net i nteres t ma rgin (FTE)
Covera ge ratio (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net charge‐offs to a vera ge l oa ns a nd l ea ses
1
Q2 2009
%chg from prev
1
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
10.4%
8.4%
2.5%
3.6%
1.8%
2.8%
2.7%
4.5%
Noncurrent Loans
Q2 2009
Q3 2009
13.4%
16.0%
9.3%
11.2%
2.0%
2.1%
4.0%
3.5%
1.9%
1.9%
3.3%
4.2%
3.7%
4.9%
5.0%
5.8%
Q4 2009
16.8%
13.5%
2.1%
3.7%
1.7%
4.0%
5.6%
6.4%
Q1 2009
‐1.9%
‐0.5%
‐0.9%
‐3.6%
‐2.3%
‐0.6%
‐0.2%
‐1.0%
Gross Charge‐Offs
Q2 2009
Q3 2009
2.1%
1.8%
1.0%
0.6%
1.7%
0.9%
5.5%
3.0%
2.4%
1.3%
1.2%
0.8%
0.3%
0.4%
1.5%
0.9%
Q4 2009
2.0%
0.6%
1.0%
2.7%
1.2%
0.7%
0.3%
0.9%
Source: Federal Reserve Y‐9C Data
22
II. U.S. BHCs Receiving CPP Funds in 4th Quarter 2008
(excludes Top 21 BHCs)
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Number of Institutions Reporting
Q2 2009
Q3 2009
Q4 2009
$ mil l i ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev
126
125
125
124
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
$814,402
$583,309
$86,586
$98,913
$40,856
$1,991
$28,884
$116,663
$158,941
0.1%
‐0.3%
‐2.3%
1.4%
2.7%
‐3.3%
‐5.8%
‐2.1%
2.0%
$803,168
$577,160
$81,130
$98,421
$41,276
$2,030
$27,947
$113,330
$161,655
‐1.4%
‐1.1%
‐6.3%
‐0.5%
1.0%
2.0%
‐3.2%
‐2.9%
1.7%
$810,915
$567,421
$75,088
$95,504
$41,709
$2,043
$27,917
$109,239
$164,275
1.0%
‐1.7%
‐7.4%
‐3.0%
1.0%
0.6%
‐0.1%
‐3.6%
1.6%
$802,916
$559,804
$68,287
$96,040
$41,926
$2,084
$27,386
$106,447
$165,862
‐1.0%
‐1.3%
‐9.1%
0.6%
0.5%
2.0%
‐1.9%
‐2.6%
1.0%
Unus ed commi tments
Securiti za ti on outs ta nding pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ties
Ca s h & ba l a nces due
$167,075
$41,630
$84,959
$3,065
$40,534
$32,230
‐2.8%
‐0.2%
6.1%
‐0.6%
‐3.0%
16.1%
$155,136
$40,501
$84,536
$427
$43,831
$30,105
‐7.1%
‐2.7%
‐0.5%
‐86.1%
8.1%
‐6.6%
$149,927
$40,394
$88,321
$822
$46,961
$41,884
‐3.4%
‐0.3%
4.5%
92.5%
7.1%
39.1%
$146,597
$39,303
$90,167
$998
$43,981
$38,969
‐2.2%
‐2.7%
2.1%
21.5%
‐6.3%
‐7.0%
$14,983
$26
$17,649
$14
142.1%
1.9%
92.5%
‐93.4%
$18,404
$30
$22,590
$10
22.8%
16.8%
28.0%
‐28.9%
$11,982
$13
$17,097
$11
‐34.9%
‐57.4%
‐24.3%
12.0%
$11,493
$13
$15,001
$9
‐4.1%
2.8%
‐12.3%
‐16.2%
$729,583
$583,479
$71,090
0.7%
3.3%
‐11.4%
$721,126
$586,297
$64,391
‐1.2%
0.5%
‐9.4%
$727,667
$599,249
$58,988
0.9%
2.2%
‐8.4%
$721,305
$603,941
$51,854
‐0.9%
0.8%
‐12.1%
$83,873
‐5.1%
$81,095
‐3.3%
$82,282
1.5%
$80,662
‐2.0%
$205
NA
$2,252
NA
$5,744
NA
$7,942
NA
Res i denti a l mortga ge origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos its
Other borrowed money
Equity
Tota l equity ca pita l a t qua rter end
Stock s a l es a nd rela ted tra ns a cti ons (cumul a ti ve through
ca lender yea r)
Performance Ratios
Q1 2009
Q3 2009
Q4 2009
9.3%
11.1%
13.6%
9.4%
11.5%
14.0%
9.2%
11.6%
14.1%
1
‐6.3%
‐11.3%
‐15.2%
‐17.2%
1
‐0.6%
‐1.1%
‐1.5%
‐1.7%
1.0%
58.9%
143.5%
2.1%
58.5%
143.9%
3.1%
56.3%
135.6%
4.2%
56.5%
134.2%
0.6%
1.6%
2.5%
3.5%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n (FTE)
Covera ge ra ti o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
Q2 2009
9.5%
11.3%
13.9%
Tier 1 l evera ge ra tio
Tier 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ris k ba s ed ca pita l ra ti o
1
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
11.3%
3.8%
1.0%
2.8%
0.7%
2.1%
2.0%
3.6%
Noncurrent Loans
Q2 2009
Q3 2009
12.8%
14.9%
4.4%
4.8%
0.9%
0.9%
2.7%
2.5%
0.8%
0.9%
2.6%
2.7%
2.5%
3.2%
4.2%
4.7%
Q4 2009
16.3%
5.2%
1.1%
2.5%
1.1%
2.7%
3.7%
5.0%
Q1 2009
‐2.4%
‐0.4%
‐0.6%
‐3.8%
‐1.2%
‐0.5%
‐0.1%
‐0.8%
Gross Charge‐Offs
Q2 2009
Q3 2009
3.6%
2.2%
0.7%
0.5%
0.8%
0.4%
3.7%
1.9%
1.7%
0.6%
1.3%
0.8%
0.3%
0.3%
1.2%
0.7%
Q4 2009
2.4%
0.5%
0.5%
1.8%
0.6%
0.7%
0.3%
0.7%
Source: Federal Reserve Y‐9C Data
23
III. U.S. BHCs Receiving CPP Funds in 1st Quarter 2009
(excludes Top 21 BHCs)
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Number of Institutions Reporting
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
Q2 2009
Q3 2009
Q4 2009
$ mil l i ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev
130
131
132
132
$249,250
$177,726
$26,248
$34,963
$8,077
$258
$8,728
$31,728
$51,596
6.2%
4.3%
2.6%
2.6%
5.5%
‐5.3%
0.2%
4.1%
6.3%
$294,236
$207,038
$25,555
$35,623
$8,401
$25,586
$10,765
$32,000
$53,226
18.0%
16.5%
‐2.6%
1.9%
4.0%
9826.1%
23.3%
0.9%
3.2%
$299,465
$202,864
$24,451
$34,839
$8,637
$20,262
$11,700
$31,537
$54,478
1.8%
‐2.0%
‐4.3%
‐2.2%
2.8%
‐20.8%
8.7%
‐1.4%
2.4%
$324,873
$229,896
$22,625
$34,834
$8,645
$48,519
$12,060
$31,348
$54,867
8.5%
13.3%
‐7.5%
0.0%
0.1%
139.5%
3.1%
‐0.6%
0.7%
Unus ed commi tments
Securiti za ti on outs ta nding pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ties
Ca s h & ba l a nces due
$37,375
$719
$25,097
$115
$18,180
$10,591
2.3%
20.1%
6.3%
7.9%
6.8%
36.0%
$214,679
$23,586
$26,748
$1,561
$23,092
$15,695
474.4%
3182.4%
6.6%
1256.3%
27.0%
48.2%
$209,574
$27,842
$26,658
$4,206
$20,440
$24,663
‐2.4%
18.0%
‐0.3%
169.4%
‐11.5%
57.1%
$204,288
$1,058
$25,622
$512
$21,067
$29,915
‐2.5%
‐96.2%
‐3.9%
‐87.8%
3.1%
21.3%
Res i denti a l mortga ge origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
$9,758
$0
$11,015
$0
92.2%
‐‐
79.9%
‐100.0%
$12,628
$0
$14,341
$0
29.4%
‐‐
30.2%
‐‐
$8,327
$0
$10,443
$0
‐34.1%
‐‐
‐27.2%
‐‐
$8,503
$0
$9,935
$0
2.1%
‐‐
‐4.9%
‐‐
$225,288
$186,931
$21,552
4.3%
6.0%
1.6%
$262,874
$220,005
$20,860
16.7%
17.7%
‐3.2%
$267,439
$225,864
$19,585
1.7%
2.7%
‐6.1%
$294,659
$232,803
$41,003
10.2%
3.1%
109.4%
$23,908
28.6%
$31,309
31.0%
$31,977
2.1%
$30,163
‐5.7%
$4,740
NA
$7,200
NA
$8,183
NA
$8,822
NA
Liabilities
Depos its
Other borrowed money
Equity
Tota l equity ca pita l a t qua rter end
Stock s a l es a nd rela ted tra ns a cti ons (cumul a ti ve through
ca lender yea r)
Performance Ratios
Q1 2009
Q3 2009
Q4 2009
10.5%
13.1%
14.7%
1
‐0.4%
‐0.3%
‐1.4%
‐4.0%
1
0.0%
0.0%
‐0.2%
‐0.4%
1.0%
51.4%
180.1%
2.3%
64.8%
149.2%
3.4%
57.2%
135.5%
4.2%
72.1%
127.2%
0.3%
1.5%
2.4%
3.5%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n (FTE)
Covera ge ra ti o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
Q2 2009
9.7%
12.2%
13.7%
Tier 1 l evera ge ra tio
Tier 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ris k ba s ed ca pita l ra ti o
1
10.5%
12.6%
14.1%
9.7%
12.2%
14.0%
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
8.6%
3.6%
1.1%
1.6%
0.7%
2.9%
2.1%
3.4%
Noncurrent Loans
Q2 2009
Q3 2009
11.7%
14.3%
4.3%
4.9%
1.1%
1.2%
6.2%
2.8%
0.8%
0.8%
3.2%
4.4%
2.6%
3.5%
4.4%
4.9%
Q4 2009
15.7%
5.3%
1.2%
4.8%
0.8%
3.8%
3.6%
5.1%
Q1 2009
‐1.6%
‐0.2%
‐0.3%
‐3.4%
‐1.7%
‐0.4%
‐0.1%
‐0.5%
Gross Charge‐Offs
Q2 2009
Q3 2009
1.9%
2.0%
0.3%
0.2%
0.2%
0.1%
8.4%
2.2%
1.5%
0.7%
1.2%
0.5%
0.2%
0.2%
1.3%
0.7%
Q4 2009
2.2%
0.2%
0.3%
2.0%
0.6%
0.7%
0.3%
0.9%
Source: Federal Reserve Y‐9C Data
24
IV. U.S. BHCs Receiving CPP Funds in 2nd Quarter 2009
(excludes Top 21 BHCs)
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Q2 2009
Number of Institutions Reporting
27
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
Q3 2009
Q4 2009
$ mil l i ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev
28
28
28
$28,117
$21,503
$3,524
$3,513
$1,367
$7
$377
$3,069
$7,594
2.9%
1.9%
‐2.0%
6.4%
4.7%
‐7.5%
‐6.4%
‐1.5%
3.7%
$28,681
$21,895
$3,268
$3,718
$1,382
$7
$416
$3,062
$7,914
2.0%
1.8%
‐7.3%
5.8%
1.1%
5.1%
10.3%
‐0.2%
4.2%
$29,392
$21,659
$3,084
$3,583
$1,428
$7
$416
$3,024
$7,962
2.5%
‐1.1%
‐5.6%
‐3.6%
3.3%
1.9%
0.0%
‐1.3%
0.6%
$29,186
$21,570
$2,867
$3,666
$1,425
$8
$394
$2,977
$7,992
‐0.7%
‐0.4%
‐7.0%
2.3%
‐0.2%
6.9%
‐5.4%
‐1.6%
0.4%
Unus ed commi tments
Securiti za ti on outs ta nding pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ties
Ca s h & ba l a nces due
$3,859
$186
$1,879
$11
$1,809
$1,015
‐4.8%
34.1%
‐1.2%
42.1%
7.6%
12.9%
$3,523
$132
$1,822
$19
$1,878
$1,201
‐8.7%
‐28.7%
‐3.1%
73.3%
3.8%
18.3%
$3,434
$121
$1,946
$5
$2,059
$1,463
‐2.5%
‐8.9%
6.8%
‐75.7%
9.7%
21.9%
$3,227
$119
$1,855
$4
$2,180
$1,351
‐6.0%
‐1.7%
‐4.7%
‐1.7%
5.9%
‐7.7%
Res i denti a l mortga ge origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
$1,234
$0
$1,305
$0
266.1%
‐‐
243.2%
‐‐
$1,960
$1
$2,155
$0
58.8%
‐‐
65.1%
‐‐
$1,099
$0
$1,451
$0
‐43.9%
‐52.2%
‐32.7%
‐‐
$1,370
$1
$1,556
$0
24.6%
89.1%
7.3%
‐‐
$25,897
$22,413
$2,254
3.1%
4.4%
‐4.5%
$26,152
$22,569
$2,074
1.0%
0.7%
‐8.0%
$26,846
$23,340
$1,902
2.7%
3.4%
‐8.3%
$26,775
$23,279
$1,967
‐0.3%
‐0.3%
3.4%
$2,150
0.7%
$2,458
14.4%
$2,477
0.8%
$2,342
‐5.5%
$8
NA
$296
NA
$317
NA
$317
NA
Liabilities
Depos its
Other borrowed money
Equity
Tota l equity ca pita l a t qua rter end
Stock s a l es a nd rela ted tra ns a cti ons (cumul a ti ve through
ca lender yea r)
Performance Ratios
Q1 2009
Q3 2009
Q4 2009
9.8%
12.1%
14.3%
9.6%
12.0%
14.2%
9.2%
11.7%
13.9%
1
‐1.2%
‐2.5%
‐3.0%
‐9.3%
1
‐0.1%
‐0.2%
‐0.3%
‐0.7%
1.1%
42.2%
111.3%
2.2%
42.5%
135.5%
3.3%
45.5%
150.9%
4.5%
45.4%
136.1%
0.3%
0.7%
1.3%
2.2%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n (FTE)
Covera ge ra ti o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
Q2 2009
8.3%
10.1%
11.9%
Tier 1 l evera ge ra tio
Tier 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ris k ba s ed ca pita l ra ti o
1
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
8.7%
2.8%
0.7%
0.6%
1.0%
2.8%
2.9%
3.6%
Q2 2009
9.3%
3.9%
0.8%
0.3%
0.8%
2.5%
3.4%
3.9%
Q3 2009
9.7%
4.6%
1.2%
0.2%
0.8%
2.7%
3.9%
4.3%
Gross Charge‐Offs
Q4 2009
11.7%
4.4%
1.1%
0.4%
1.2%
2.9%
3.9%
4.5%
Q1 2009
‐1.5%
‐0.3%
‐0.3%
‐2.9%
‐1.2%
‐1.3%
‐0.2%
‐0.7%
Q2 2009
1.4%
0.3%
0.2%
2.2%
0.7%
1.0%
0.4%
0.6%
Q3 2009
1.3%
0.3%
0.1%
0.9%
0.6%
0.5%
0.4%
0.5%
Q4 2009
1.5%
0.5%
0.3%
0.7%
0.6%
0.9%
0.3%
0.6%
Source: Federal Reserve Y‐9C Data
25
V. U.S. BHCs Receiving CPP Funds in 3rd Quarter 2009
(excludes Top 21 BHCs)
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Number of Institutions Reporting
Q2 2009
Q3 2009
Q4 2009
$ mil l i ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev
5
5
5
5
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
$7,614
$5,309
$648
$834
$838
$4
$109
$877
$1,490
5.7%
‐1.2%
1.3%
‐0.2%
1.2%
‐6.2%
‐6.0%
‐6.2%
‐1.9%
$7,471
$5,230
$588
$817
$831
$4
$107
$876
$1,502
‐1.9%
‐1.5%
‐9.2%
‐1.9%
‐0.8%
5.3%
‐2.1%
0.0%
0.8%
$7,616
$5,130
$528
$805
$832
$5
$106
$851
$1,523
2.0%
‐1.9%
‐10.2%
‐1.5%
0.1%
3.7%
‐0.9%
‐2.9%
1.4%
$7,536
$5,028
$479
$791
$814
$5
$104
$827
$1,520
‐1.1%
‐2.0%
‐9.3%
‐1.8%
‐2.1%
7.2%
‐1.3%
‐2.8%
‐0.2%
Unus ed commi tments
Securiti za ti on outs ta nding pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ties
Ca s h & ba l a nces due
$1,302
$0
$1,131
$0
$403
$322
‐10.4%
‐‐
23.1%
‐35.6%
61.9%
2.7%
$1,219
$2
$1,190
$0
$387
$305
‐6.4%
‐‐
5.2%
‐27.6%
‐4.0%
‐5.4%
$1,161
$2
$1,347
$0
$396
$360
‐4.7%
0.5%
13.2%
3.1%
2.4%
18.1%
$1,155
$0
$1,311
$0
$408
$349
‐0.5%
‐81.1%
‐2.6%
‐9.0%
2.9%
‐3.0%
$51
$0
$57
$0
132.5%
‐‐
114.0%
‐‐
$67
$0
$76
$0
32.5%
‐‐
34.4%
‐‐
$45
$0
$54
$0
‐32.8%
‐‐
‐29.6%
‐‐
$40
$0
$45
$0
‐11.3%
‐‐
‐16.2%
‐‐
$7,050
$5,861
$830
6.3%
4.7%
19.9%
$6,893
$5,947
$608
‐2.2%
1.5%
‐26.7%
$6,973
$5,887
$657
1.2%
‐1.0%
8.1%
$6,940
$5,962
$566
‐0.5%
1.3%
‐13.9%
$564
‐1.1%
$577
2.3%
$644
11.5%
$596
‐7.4%
$0
NA
$19
NA
$73
NA
$73
NA
Res i denti a l mortga ge origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos its
Other borrowed money
Equity
Tota l equity ca pita l a t qua rter end
Stock s a l es a nd rela ted tra ns a cti ons (cumul a ti ve through
ca lender yea r)
Performance Ratios
Q1 2009
Tier 1 l evera ge ra tio
Tier 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ris k ba s ed ca pita l ra ti o
1
Return on equi ty
Return on a s s ets
1
1
Net i nteres t ma rgi n (FTE)
Covera ge ra ti o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
1
Q2 2009
Q3 2009
Q4 2009
7.4%
9.1%
11.0%
7.5%
9.4%
11.3%
9.1%
11.6%
13.9%
8.5%
11.1%
13.4%
0.4%
‐0.5%
‐1.0%
‐9.8%
0.0%
0.0%
‐0.1%
‐0.8%
0.9%
54.3%
108.2%
1.9%
61.5%
117.5%
3.0%
60.6%
120.4%
4.1%
60.3%
132.2%
0.3%
0.7%
1.2%
2.2%
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
14.5%
2.0%
0.8%
0.3%
0.9%
1.9%
1.7%
3.2%
Noncurrent Loans
Q2 2009
Q3 2009
11.3%
13.7%
2.5%
3.4%
0.9%
1.1%
0.2%
0.7%
0.8%
1.0%
2.4%
2.0%
1.9%
2.1%
3.0%
3.3%
Q4 2009
13.6%
4.0%
1.2%
0.8%
1.2%
2.0%
4.0%
3.9%
Q1 2009
‐3.8%
‐0.2%
‐0.3%
‐1.0%
‐1.4%
‐0.8%
0.0%
‐0.7%
Gross Charge‐Offs
Q2 2009
Q3 2009
2.6%
1.2%
0.4%
0.3%
0.5%
0.2%
1.5%
1.2%
0.8%
0.6%
0.2%
0.4%
0.2%
0.1%
0.6%
0.4%
Q4 2009
3.0%
0.6%
0.5%
1.3%
0.5%
0.4%
0.6%
0.8%
Source: Federal Reserve Y‐9C Data
26
VI. U.S. BHCs Receiving CPP Funds in 4th Quarter 2009
(excludes Top 21 BHCs)
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
Number of Institutions Reporting
Assets
Loa ns
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
Unus ed commi tments
Securiti za ti on outs ta nding pri nci pa l
Mortga ge‐ba cked s ecuri ti es (GSE a nd pri va te i s s ue)
As s et‐ba cked s ecuri ti es
Other s ecuri ties
Ca s h & ba l a nces due
Res i denti a l mortga ge origi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos its
Other borrowed money
Equity
Tota l equity ca pita l a t qua rter end
Stock s a l es a nd rela ted tra ns a cti ons (cumul a ti ve through
ca lender yea r)
Performance Ratios
Q3 2009
Q4 2009
$2,427
$1,741
$254
$363
$56
$1
$62
$276
$625
48.6%
48.5%
54.0%
10.4%
74.9%
‐13.9%
5.9%
68.2%
77.8%
$2,478
$1,802
$257
$371
$59
$1
$62
$279
$652
2.1%
3.5%
1.0%
2.2%
5.5%
14.4%
‐0.7%
1.0%
4.3%
$2,556
$1,880
$246
$377
$59
$1
$63
$306
$702
3.2%
4.3%
‐4.3%
1.7%
‐0.4%
‐8.0%
1.9%
9.7%
7.6%
$3,007
$2,156
$257
$411
$62
$1
$67
$329
$868
17.6%
14.7%
4.6%
8.9%
5.7%
7.4%
6.4%
7.7%
23.6%
$337
$3
$164
$0
$180
$135
62.6%
‐‐
2.3%
‐‐
13.9%
158.6%
$359
$3
$160
$0
$215
$201
6.7%
0.0%
‐2.2%
‐‐
19.6%
48.9%
$327
$0
$160
$0
$207
$176
‐9.1%
‐100.0%
0.3%
‐‐
‐3.6%
‐12.5%
$323
$0
$136
$0
$275
$266
‐1.1%
‐‐
‐15.4%
‐‐
32.9%
51.5%
$0
$0
$0
$0
‐‐
‐‐
‐‐
‐‐
$0
$0
$0
$0
‐‐
‐‐
‐‐
‐‐
$0
$0
$0
$0
‐‐
‐‐
‐‐
‐‐
$0
$0
$0
$0
‐‐
‐‐
‐‐
‐‐
$2,180
$2,049
$96
47.8%
51.0%
6.6%
$2,219
$2,077
$89
1.8%
1.4%
‐7.4%
$2,298
$2,149
$87
3.6%
3.4%
‐2.7%
$2,670
$2,504
$93
16.2%
16.5%
7.4%
$230
54.8%
$234
1.7%
$233
‐0.3%
$300
28.3%
$0
NA
$5
NA
$9
NA
$63
NA
Q1 2009
Q2 2009
9.4%
11.9%
13.1%
Tier 1 l evera ge ra tio
Tier 1 ri s k ba s ed ca pi ta l ra ti o
Tota l ris k ba s ed ca pita l ra ti o
Q3 2009
9.8%
12.2%
13.4%
Q4 2009
8.8%
11.1%
12.5%
10.0%
12.9%
14.2%
1
1.0%
1.4%
1.5%
0.8%
1
0.1%
0.1%
0.1%
0.1%
1.0%
98.6%
421.6%
2.0%
107.2%
200.7%
3.0%
84.5%
181.1%
3.8%
43.9%
132.9%
0.1%
0.2%
0.4%
0.9%
Return on equi ty
Return on a s s ets
1
Net i nteres t ma rgi n (FTE)
Covera ge ra ti o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net cha rge‐offs (qua rter)
Net cha rge‐offs to a vera ge l oa ns a nd l ea s es
1
Q2 2009
$ mil l i ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev $ mi l li ons %chg from prev
5
5
5
5
1
Quarterly, annualized.
Noncurrent Loans
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
7.2%
1.3%
0.4%
3.1%
0.9%
1.7%
1.3%
2.2%
Q2 2009
5.5%
1.3%
2.8%
4.0%
0.5%
1.2%
0.7%
1.7%
Q3 2009
6.4%
1.2%
1.3%
4.8%
0.5%
2.5%
1.4%
2.2%
Gross Charge‐Offs
Q4 2009
13.0%
1.6%
1.6%
1.2%
0.6%
2.0%
3.0%
3.9%
Q1 2009
0.2%
‐0.1%
0.0%
‐2.1%
‐0.7%
‐0.2%
0.0%
‐0.1%
Q2 2009
0.8%
0.2%
0.1%
0.8%
0.3%
0.0%
0.0%
0.2%
Q3 2009
0.4%
0.1%
0.0%
0.7%
0.2%
0.1%
0.1%
0.1%
Q4 2009
1.3%
0.1%
0.3%
4.6%
0.5%
1.2%
0.1%
0.5%
Source: Federal Reserve Y‐9C Data
27
VII. U.S. Top Tier BHCs Not Receiving CPP Funds
Q1 2009
Selected Balance Sheet and Off Balance Sheet items
$ mi l l i ons
Number of Institutions Reporting
Assets
Loans
Construction & development
Closed‐end 1‐4 family residential
Home Equity
Credit Card
Other Consumer
Commercial & Industrial
Commercial Real Estate
Unus ed commi tments
Securi ti zati on outs tandi ng pri nci pal
Mortga ge‐backed s ecuri ti es (GSE a nd pri vate i s s ue)
As s et‐backed s ecuri ti es
Other s ecuri ti es
Cas h & ba l ances due
Res i denti a l mortga ge ori gi na ti ons
Closed‐end mortgage originated for sale (quarter)
Open‐end HELOC originated for sale (quarter)
Closed‐end mortgage originations sold (quarter)
Open‐end HELOC originations sold (quarter)
Liabilities
Depos i ts
Other borrowed money
Equity
Tota l equi ty capi tal at quarter end
Stock s a l es a nd rel ated trans acti ons (cumul ati ve through
cal ender year)
Performance Ratios
$3,422,326
$1,502,369
$143,922
$345,797
$81,198
$61,711
$116,309
$232,553
$313,853
‐2.4%
‐3.4%
‐8.3%
‐3.8%
0.7%
‐3.4%
‐4.6%
‐3.0%
‐4.4%
$3,514,011
$1,473,128
$131,270
$335,622
$81,892
$60,451
$112,570
$223,454
$316,514
2.7%
‐1.9%
‐8.8%
‐2.9%
0.9%
‐2.0%
‐3.2%
‐3.9%
0.8%
$3,506,564
$1,435,559
$117,595
$330,294
$81,361
$61,292
$108,189
$221,239
$310,658
‐0.2%
‐2.6%
‐10.4%
‐1.6%
‐0.6%
1.4%
‐3.9%
‐1.0%
‐1.9%
$651,247
$71,931
$266,877
$25,022
$340,845
$204,174
‐2.4%
‐5.1%
0.0%
2.8%
2.0%
‐19.0%
$620,047
$67,402
$264,776
$26,694
$365,073
$189,688
‐4.8%
‐6.3%
‐0.8%
6.7%
7.1%
‐7.1%
$613,917
$66,000
$275,955
$28,723
$381,228
$214,727
‐1.0%
‐2.1%
4.2%
7.6%
4.4%
13.2%
$596,466
$67,889
$268,208
$30,558
$384,331
$231,449
‐2.8%
2.9%
‐2.8%
6.4%
0.8%
7.8%
$58,620
$18
$82,542
$188
88.4%
‐74.3%
34.7%
597.5%
$45,099
$17
$69,463
$26
‐23.1%
‐2.3%
‐15.8%
‐86.0%
$28,475
$11
$50,959
$1
‐36.9%
‐37.2%
‐26.6%
‐97.4%
$28,637
$34
$43,053
$37
0.6%
211.0%
‐15.5%
5298.4%
$3,250,021
$1,507,207
$534,099
‐0.6%
0.5%
‐7.3%
$3,165,687
$1,474,504
$504,922
‐2.6%
‐2.2%
‐5.5%
$3,239,010
$1,508,853
$463,722
2.3%
2.3%
‐8.2%
$3,233,607
$1,537,958
$438,886
‐0.2%
1.9%
‐5.4%
$247,657
2.5%
$247,767
0.0%
$263,657
6.4%
$261,807
‐0.7%
$3,684
NA
$7,573
NA
$7,970
NA
$10,853
NA
Q1 2009
Q2 2009
4.9%
8.3%
10.1%
1
1
1
Net i nteres t margi n (FTE)
Coverage rati o (ALLL/Noncurrent l oa ns )
Los s provi s i on to net charge‐offs (qua rter)
Net cha rge‐offs to a verage l oa ns a nd l ea s es
Q4 2009
‐0.4%
‐1.2%
‐2.2%
‐0.1%
3.1%
‐7.8%
‐1.6%
‐2.9%
2.7%
Return on equi ty
1
Q3 2009
$3,506,521
$1,554,512
$156,905
$359,608
$80,617
$63,879
$121,944
$239,709
$328,150
Ti er 1 l everage rati o
Ti er 1 ri s k bas ed ca pi tal rati o
Tota l ri s k bas ed ca pi ta l rati o
Return on as s ets
Q2 2009
%chg from prev $ mi l l i ons %chg from prev $ mi l l i ons %chg from prev $ mi l l i ons %chg from prev
717
710
701
698
1
Q3 2009
5.0%
8.4%
10.2%
Q4 2009
5.3%
8.9%
10.8%
5.4%
9.1%
11.0%
0.2%
‐4.7%
‐4.6%
‐5.9%
0.0%
‐0.3%
‐0.3%
‐0.4%
0.8%
68.8%
144.6%
1.7%
67.4%
131.4%
2.5%
63.2%
127.1%
3.3%
62.4%
112.7%
0.6%
1.4%
2.1%
3.4%
Quarterly, annualized.
Asset Quality (% of Total Loan Type)
Construction & development
Closed‐end 1‐4 family residential
Home equity
Credit card
Other consumer
Commercial & Industrial
Commercial real estate
Total loans
Q1 2009
12.6%
4.8%
1.4%
3.8%
2.6%
1.7%
2.1%
3.8%
Noncurrent Loans
Q2 2009
Q3 2009
14.2%
14.5%
4.7%
5.5%
1.3%
1.3%
3.8%
3.8%
2.6%
2.8%
1.9%
2.6%
2.6%
3.5%
4.0%
4.5%
Q4 2009
15.2%
5.1%
1.2%
3.9%
1.8%
2.7%
3.2%
4.5%
Q1 2009
‐2.0%
‐1.1%
‐1.0%
‐6.8%
‐3.1%
‐0.6%
‐0.2%
‐1.2%
Gross Charge‐Offs
Q2 2009
Q3 2009
2.1%
1.0%
0.9%
0.5%
0.8%
0.5%
5.9%
3.1%
2.7%
1.3%
0.7%
0.4%
0.2%
0.2%
1.1%
0.6%
Q4 2009
1.9%
1.2%
0.6%
3.2%
2.3%
0.5%
0.2%
0.9%
Source: Federal Reserve Y‐9C Data
28
Appendix B: Notes to Y-9C Data Users
•
Data are from the Consolidated Financial Statements for Bank Holding Companies Y-9C
Report Form. Only top tier holding companies with $500 million or more in consolidated
assets are required to file Y-9C Reports. 17
•
GMAC is excluded from all groups as GMAC received TARP funds under the
Automotive Industry Financing Program.
•
Generally, data are not adjusted to reflect subsequent mergers between bank holding
companies, which can contribute to shifts in reporting populations after the date of the
merger. The data are only adjusted to reflect the acquisition of Wachovia Corporation
(acquired by Wells Fargo & Company) and National City Corporation (acquired by PNC
Financial Services Group) in Q4 2008.
•
Unused commitments include home equity lines, credit card lines, securities
underwriting, other unused commitments, and unused commitments (unsecured and
secured by real estate) to fund commercial real estate, construction, and land
development.
•
Securitization outstanding principal includes the principal balance of assets sold and
securitized with servicing retained or with recourse or other seller-provided credit
enhancements.
•
Residential Mortgage Origination data comes from schedule HC-P of the Y-9C which is
completed only by bank holding companies with $1,000,000,000 or more in total assets;
and by bank holding companies with less than $1,000,000,000 in total assets with 1-4
family mortgage originations and purchases for resale exceeding $10,000,000 two
quarters in a row.
•
Stock sales and related transactions equals the sale of perpetual preferred and common
stock net of conversion or retirement of like stock plus sale of treasury stock net of
purchase adjusted to provide quarterly figures.
•
Weighted average performance ratios were calculated for each group.
•
The ratios ROE, ROA, net interest margin, net charge-offs to average loans are
annualized.
17
In some cases, “BHCs meeting certain criteria may be required to file this report, regardless of size. However,
when such BHCs own or control, or are owned or controlled by, other BHCs, only top-tier holding companies must
file this report for the consolidated holding company organization.” See The Federal Reserve Board’s “Reporting
Forms” page for more detailed information (http://federalreserve.gov/reportforms/default.cfm).
29
•
Coverage ratio equals the allowance for loan and lease losses as a percentage of
nonaccrual loans or loans past due 90 or more days and still accruing.
•
Gross charge-off rates use average of period end assets for denominator and are adjusted
to provide quarterly figures.
Source: Treasury Analysis of Y-9C Data
30
@FedFRASER