DFI - Quarterly Report - Third Quarter 2011
Quarterly Report (Excel)Third Quarter 2011
The Quarterly Report presents summary statistics for banks, industrial banks, credit unions, offices of foreign banks and trust companies with a comparison to the same quarter one year previous. The intention of the Quarterly Report is to show at-a-glance significant changes on the balance sheets and reports of income of DFI licensees. We invite readers to review the Financial Statistics page on our website, and the financial data published by the Federal Reserve Bank, Federal Deposit Insurance Corporation and National Credit Union Administration.
As of September 30, 2011, the number of state-chartered banks decreased by 14 or 7.1% to 182 from 196 on September 30 one year ago. Assets went from $246.0 billion to $258.9 billion, up $12.9 billion or 5.2% over the same period. Total equity capital was up 6.3%, from $32.1 billion to $34.1 billion in the third quarter of 2011, causing the equity capital to total asset ratio to increase from 13.04% to 13.17 percent. Loans were up 1.0%, going from $167.1 billion to $168.5 billion, while deposits were up $13.7 billion or 7.2% from $189.5 billion to $203.2 billion. This caused the loan to deposit ratio to decrease to 82.95% from 88.18% one year previous.
In the first nine months of 2011, state-chartered banks reported net income of $1.7 billion, up $1.3 billion from $428.3 million in the first nine months of 2010. Loan loss provisions in the same period were down $1.2 billion from $2.1 billion to $813.6 million, a decrease of 60.4 percent.
The net interest margin was up from 3.36% one year ago to 3.59 percent. Loan loss reserves as of September 30, 2011 were $3.5 billion, down $482.0 million or 12.0% from $4.0 billion a year ago while noncurrent loans were down 24.0% from $6.1 billion to $4.6 billion over the same period. This caused reserve coverage of noncurrent loans to increase from 65.93% to 76.31 percent. Other real estate owned decreased 9.3%, going from $1.3 billion to $1.2 billion.
As of September 30, 2011, industrial bank assets were $8.8 billion, down 3.0% from $9.1 billion one year ago. Total equity capital was up 10.1% from $1.4 billion to $1.6 billion. This caused the equity capital to asset ratio to increase from 15.72% to 17.85 percent. Loans were up 2.2%, to $6.0 billion, while deposits were down 8.2% to $6.4 billion, which caused the loan to deposit ratio to increase from 85.47% to 95.12 percent.
Industrial banks showed a net profit of $119.3 million in the first nine months of 2011, up $66.2 million from $53.1 million in the first nine months of 2010. The net interest margin was flat at 5.00% while the provision for loan losses was $0.8 million, down 99.4% from $123.1 million in the third quarter of 2010. Loan loss reserves were down 33.0% from $245.0 million to $164.0 million over the period, while noncurrent loans decreased from $436.8 million to $189.0 million, down $247.8 million or 56.7 percent. This caused reserve coverage of noncurrent loans to increase from 56.08% to 86.80 percent. Other real estate owned decreased by 28.6%, going from $35.6 million as of September 30, 2010 to $25.4 million a year later. During the period, the number of industrial banks went from ten to nine.
Assets, at $72.7 billion were up 1.2% from $71.8 billion one year ago, while shares, at $62.6 billion as of September 30, 2011 were up 1.3% from $61.8 billion. Loans were down 7.1% over the same period, going from $43.7 billion to $40.6 billion. At $7.1 billion on September 30, net worth was up 6.9% from $6.7 billion a year previous. This caused the net worth to asset ratio to increase to 9.82% from 9.30% one year ago. The allowance for loan losses was $1.2 billion, down 12.1% from $1.4 billion one year ago, while delinquent loans at $919.5 million were down 20.1% from $1.2 billion at the same time last year. Delinquent loans as a percentage of total loans were 2.26% as of September 30, 2011 as compared to 2.63% one year ago. Other real estate owned was up $16.7 million or 12.8% from $130.4 million to $147.1 million.
Net margin to average assets at 4.20% was down from 4.38% one year ago, while the provision for loan losses was down 46.8% going from $593.1 million to $315.3 million over the same period. Net income as of year-to-date September 30 was up 70.4% from $223.9 million for the first nine months of 2010 to $381.6 million for the same period in 2011. The number of credit unions went from 165 to 158; a decrease of seven, or 4.2 percent.
Total assets of state chartered offices of foreign banks were down $2.1 billion or 8.2% from $25.4 billion as of September 30, 2010 to $23.3 billion one year later, while loans were up 33.9% from $14.3 billion to $19.2 billion over the same period. Deposits were down 31.6%, from $12.9 billion as of September 30, 2010 to $8.9 billion one year later. The number of foreign banking organizations with state-chartered offices in California remained constant at 31 during the year.
Total corporate assets of trust companies at September 30, 2011 were $398.1 million, down $24.1 million or 5.7% from the $422.2 million a year previous. Income from fiduciary activities in the first nine months of 2011 was down $28.2 million or 9.1% to $282.0 million from $310.2 million a year previous, while net income went from a net loss of $8.3 million to a net loss of $11.6 million. The number of trust companies remained stable throughout the year at seven.