State Profile Iowa

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

0.9% 0.8% 1.9% 1.1% 2.2%

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

(14%)

(5%)

(64%)

(17%)

1.1%

2.9%

0.4%

2.0%

3.1%

0.7%

1.6%

0.5%

1.9%

3.1%

3.2%

1.5%

1.6%

1.9%

3.1%

1.3%

2.6%

0.7%

2.0%

3.0%

2.7%

3.4%

2.1%

1.5%

2.8%

Other Indicators (% change of 4-qtr moving total, unless noted) Q4-23 2023 2022

Single-Family Home Permits

Multifamily Building Permits

Home Price Index (change from year ago)

Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)

-4.4%

-31.6%

5.9%

N/A

-23.2%

-7.1%

5.2%

0.84

-25.2%

24.8%

10.5%

0.66

-4.4%

-31.6%

6.4%

N/A

-25.2%

24.8%

13.3%

0.69

BANKING TRENDS

General Information Q4-23 Q3-23 Q4-22 2023 2022

Institutions (#) 240 246 249 240 249

Total Assets (in millions) $123,320 $122,339 $120,906 $123,320 $120,906

New Institutions (# < 3 years) 0 0 0 0 0

Subchapter S Institutions (#) 140 142 146 140 146

Asset Quality Q4-23 Q3-23 Q4-22 2023 2022

Past-Due and Nonaccrual Loans / Total Loans (median %) 0.55 0.57 0.42 0.55 0.42

Noncurrent Loans / Total Loans (median %) 0.16 0.18 0.12 0.16 0.12

Loan and Lease Allowance / Total Loans (median %) 1.19 1.21 1.25 1.19 1.25

Loan and Lease Allowance / Noncurrent Loans (median multiple) 3.89 3.38 5.57 3.89 5.57

Net Loan Losses / Total Loans (median %, year-to-date annualized) 0.00 0.00 0.00 0.00 0.00

Capital / Earnings (year-to-date annualized, unless noted) Q4-23 Q3-23 Q4-22 2023 2022

Tier 1 Leverage (median %, end of period) 10.52 10.58 10.35 10.52 10.35

Return on Assets (median %) 0.92 0.96 1.10 0.92 1.10

Pretax Return on Assets (median %) 1.02 1.07 1.27 1.02 1.27

Net Interest Margin (median %) 2.98 3.03 3.10 2.98 3.10

Yield on Earning Assets (median %) 4.50 4.40 3.54 4.50 3.54

Cost of Funding Earning Assets (median %) 1.47 1.34 0.42 1.47 0.42

Provisions to Avg. Assets (median %) 0.02 0.01 0.00 0.02 0.00

Noninterest Income to Avg. Assets (median %) 0.36 0.35 0.39 0.36 0.39

Overhead to Avg. Assets (median %) 2.10 2.08 2.03 2.10 2.03

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 65.15 64.81 62.03 65.15 62.03

Noncore Funding to Assets (median %) 13.00 12.87 9.39 13.00 9.39

Long-term Assets to Assets (median %, call filers) 27.68 27.75 30.55 27.68 30.55

Brokered Deposits (number of institutions) 118 117 115 118 115

Brokered Deposits to Assets (median % for those above) 3.43 3.57 2.93 3.43 2.93

Loan Concentrations

(median % of Tier 1 Capital plus the Reserve for Loan and Lease Losses) Q4-23 Q3-23 Q4-22 2023 2022

Commercial and Industrial 65 65 64 65 64

Commercial Real Estate 106 103 97 106 97

Construction & Development 15 13 11 15 11

Multifamily Residential Real Estate 6 7 6 6 6

Nonresidential Real Estate 80 78 78 80 78

Residential Real Estate 113 110 107 113 107

Consumer 13 13 12 13 12

Agriculture 192 189 188 192 188

BANKING PROFILE

Asset Distribution

< $100 million 43 (17.9%)

Institutions in Market

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Omaha-Council Bluffs, NE-IA 74 $40,442

Largest Deposit Markets (from 2023 Summary of Deposits) Deposits ($ millions) Institutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits ($ millions) Per

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

Q3-23 Q4-22

Q4-22 2022

Des Moines-West Des Moines, IA 56 $32,272 $100 million to $250 million 80 (33.3%)

Davenport-Moline-Rock Island, IA-IL 31 $9,987 $250 million to $1 billion 91 (37.9%)

Cedar Rapids, IA 36 $7,850 $1 billion to $10 billion 26 (10.8%)

Iowa City, IA 22 $6,026 $10 billion 0 (0.0%)