State Profile Kentucky

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

1.6% 2.2% 2.9% 2.5% 3.4%

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)

(13%)

(5%)

(67%)

(15%)

0.6%

6.5%

1.1%

2.9%

4.3%

1.2%

6.5%

1.8%

3.5%

4.2%

3.8%

5.4%

3.0%

1.1%

4.1%

1.6%

7.1%

2.2%

2.9%

4.2%

3.7%

5.2%

3.8%

0.8%

4.0%

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)

-10.7%

40.0%

6.5%

N/A

-18.1%

49.3%

6.4%

2.31

-15.5%

9.4%

11.7%

1.91

-10.7%

40.0%

7.6%

N/A

-15.5%

9.4%

15.0%

1.91

BANKING TRENDS

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

Institutions (#) 122 122 124 122 124

Total Assets (in millions) $76,402 $74,372 $73,636 $76,402 $73,636

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

Subchapter S Institutions (#) 43 43 44 43 44

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

Past-Due and Nonaccrual Loans / Total Loans (median %) 0.86 0.78 0.83 0.86 0.83

Noncurrent Loans / Total Loans (median %) 0.27 0.31 0.30 0.27 0.30

Loan and Lease Allowance / Total Loans (median %) 1.20 1.21 1.24 1.20 1.24

Loan and Lease Allowance / Noncurrent Loans (median multiple) 3.66 3.23 3.48 3.66 3.48

Net Loan Losses / Total Loans (median %, year-to-date annualized) 0.02 0.02 0.01 0.02 0.01

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

Tier 1 Leverage (median %, end of period) 10.62 10.73 10.54 10.62 10.54

Return on Assets (median %) 1.02 1.03 1.11 1.02 1.11

Pretax Return on Assets (median %) 1.21 1.21 1.30 1.21 1.30

Net Interest Margin (median %) 3.54 3.57 3.51 3.54 3.51

Yield on Earning Assets (median %) 4.95 4.84 3.92 4.95 3.92

Cost of Funding Earning Assets (median %) 1.37 1.20 0.39 1.37 0.39

Provisions to Avg. Assets (median %) 0.06 0.05 0.05 0.06 0.05

Noninterest Income to Avg. Assets (median %) 0.54 0.56 0.58 0.54 0.58

Overhead to Avg. Assets (median %) 2.59 2.61 2.51 2.59 2.51

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 67.35 66.95 64.18 67.35 64.18

Noncore Funding to Assets (median %) 11.83 12.37 9.00 11.83 9.00

Long-term Assets to Assets (median %, call filers) 45.21 46.50 49.55 45.21 49.55

Brokered Deposits (number of institutions) 58 55 42 58 42

Brokered Deposits to Assets (median % for those above) 4.56 3.95 3.10 4.56 3.10

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 40 42 39 40 39

Commercial Real Estate 214 204 203 214 203

Construction & Development 43 42 39 43 39

Multifamily Residential Real Estate 18 17 17 18 17

Nonresidential Real Estate 129 122 130 129 130

Residential Real Estate 218 209 204 218 204

Consumer 24 23 21 24 21

Agriculture 31 33 34 31 34

BANKING PROFILE

Asset Distribution

< $100 million 17 (13.9%)

Institutions in Market

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Cincinnati, OH-KY-IN 58 $193,299

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

Louisville/Jefferson County, KY-IN 38 $41,313 $100 million to $250 million 39 (32.0%)

Lexington-Fayette, KY 37 $14,889 $250 million to $1 billion 51 (41.8%)

Evansville, IN-KY 18 $12,510 $1 billion to $10 billion 15 (12.3%)

Huntington-Ashland, WV-KY-OH 24 $7,356 $10 billion 0 (0.0%)